Share Repurchase Program

6 Months Ended

Dec. 31, 2024

Equity [Abstract]

Share Repurchase Program

Share Repurchase Program

In July 2024, the Company's Board of Directors authorized a share repurchase program. The program authorizes the purchase of up to $400.0 million of the Company's outstanding common stock. The shares may be repurchased in the open market or in privately negotiated transactions. Under the terms of the share repurchase program, the Company may repurchase shares from time to time, in amounts, at prices, and at such times as the Company deems appropriate, subject to market conditions, legal requirements and other considerations. There is no stated expiration for the share repurchase program. The Company is not obligated to repurchase any specific number of shares or to do so at any particular time, and the share repurchase program may be suspended, modified or terminated at any time without prior notice. During the six months ended December 31, 2024, the Company purchased 275,000 shares of its common stock on the open market for an aggregate of $40.3 million. As of December 31, 2024, $359.7 million remains available for future purchases.