Stock Repurchase Program Stock Repurchase Program (Notes)

6 Months Ended

Dec. 31, 2019

Equity [Abstract]

Treasury Stock [Text Block]

Stock Repurchase Program

On December 7, 2017, the Company’s Board authorized the repurchase of up to $150,000 of the Company’s Class A Common Stock. On August 29, 2019, the Board authorized a $300,000 increase to the stock repurchase authorization, which had

$136,165 of availability remaining, bringing the total available repurchase authorization for Class A Common Stock to $436,165 as of that date. Under the authorization, shares of Class A Common Stock may be purchased from time to time in open market or private transactions, block trades or such other manner as the Company may determine, in accordance with applicable insider trading and other securities laws and regulations. The timing and amount of purchases will depend on market conditions and other factors.

On October 3, 2019, the Company settled its modified Dutch auction tender offer (the “Tender Offer”) and repurchased 14,980 shares of its Class A Common Stock, at a price of $16.70 per share, for an aggregate purchase price of $250,168. The purchase price of these shares, and the fees relating to the Tender Offer, have been classified as Treasury stock in the accompanying consolidated balance sheet as of December 31, 2019. As of December 31, 2019, the Company had $185,997 of availability remaining under its stock repurchase authorization.