Stock Repurchase Program Stock Repurchase Program (Notes)

9 Months Ended

Mar. 31, 2020

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 a modified Dutch auction 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. During the three months ended March 31, 2020, the Company repurchased 3,070 shares of its Class A Common Stock for an aggregate purchase price of $36,178, bringing the total available repurchase authorization for Class A Common Stock to $149,819 as of March 31, 2020. In addition, during the three months ended March 31, 2020, the Company committed to purchase an additional 277 shares of its Class A Common Stock that were not settled until April 2020. The purchase price of these share repurchases, and the related fees, have been classified as Treasury stock in the accompanying consolidated balance sheet as of March 31, 2020. There were no shares repurchased by the Company during the nine months ended March 31, 2019.