When a repurchase of shares is done by a company it:

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When a company repurchases its own shares, it reduces the number of outstanding shares and therefore reduces the amount of owners' equity. This is because the company is essentially buying back ownership from its shareholders, which means there are less shares available for ownership by other shareholders. The repurchase of shares does not affect total liabilities as it does not involve any changes to the company's debt or obligations.

When a Repurchase of Shares Is Done by a Company