With a repurchase agreement, or repo, they agree to buy back the collateral at a later date, usually with interest. Failure to repurchase means the buyers or lenders can sell the collateral.

The agreements are being entered into under the Company’s existing $5.0 billion stock repurchase authorization, of which $1.8 billion was available for share repurchases as of February 2 ...

It also announced plans to enter into accelerated share repurchase agreements with one or more dealers to repurchase $500 million of the company's common stock. The agreements are being entered ...