Note 21. Repurchases of ARRIS Shares

The table below sets forth the purchases of ARRIS shares for the quarter ended June 30, 2017:


Period	Total Number of SharesPurchased⁽¹⁾		Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs		Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (in thousands)
April 2017		1,500,747	$	25.89		1,500,747		300,000
May 2017		4,428	$	28.01		—		300,000
June 2017		172,980	$	28.93		172,841		295,000

(1)	4,567 shares were subject to equity awards that were cancelled for cash to satisfy minimum tax withholding obligations that arose on the vesting of shares of restricted stock units.

Upon completing the Combination, ARRIS International plc conducted a court-approved process in accordance with section 641(1)(b) of the U.K. Companies Act 2006, pursuant to which the Company reduced its stated share capital and thereby increased its distributable reserves or excess capital out of which ARRIS may legally pay dividends or repurchase shares. Distributable reserves are not linked to a U.S. GAAP reported amount.

In early 2016, the Company’s Board of Directors approved a $300 million share repurchase authorization replacing all prior programs. In March 2017, the Board authorized an additional $300 million for share repurchases.

During the first quarter of 2017, ARRIS repurchased 3.3 million of the Company’s ordinary shares at an average price of $25.44 per share, for aggregate consideration of approximately $83.1 million. During the second quarter of 2017, ARRIS repurchased 1.7 million of the Company’s ordinary shares at an average price of $26.20 per share, for aggregate consideration of approximately $43.9 million. The remaining authorized amount for stock repurchases under these plans was $295.0 million as of June 30, 2017. Unless terminated earlier by a Board resolution, these new plans will expire when ARRIS has used all authorized funds for repurchase.

During the first quarter of 2016, the Company repurchased 6.4 million shares of its ordinary shares for $150.0 million at an average stock price of $23.47.