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Common Stock
12 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Common Stock
Common Stock
On January 22, 2015, our Board of Directors approved a share repurchase program for up to $450 million worth of our common stock. On April 26, 2016 and June 8, 2017, the Board of Directors approved a $400 million and $200 million increase in our current share repurchase plan, respectively. The timing and amount of any shares repurchased are based on market conditions and other factors. All share repurchases of our common stock have been recorded as treasury stock under the cost method.
On August 29, 2016, as part of our common stock repurchase program, we entered into an accelerated share repurchase program (the "ASR Program") with a third-party financial institution. Pursuant to the terms of the ASR Program, we made an upfront payment of $100.0 million in exchange for the delivery of approximately 2.1 million shares of our common stock, which was determined based on the volume-weighted average price per share of our common stock over the term of the ASR Program, less an agreed-upon discount. These shares were recorded as an increase to treasury stock.

During fiscal 2017, we repurchased 5,185,257 shares of our common stock in the open market for $275.0 million and 2,106,709 shares of our common stock for $100.0 million as part of the ASR Program.
We repurchased 4,750,692 shares and 7,731,428 shares of our common stock for $180.1 million and $298.3 million during fiscal 2016 and 2015, respectively.
As of June 30, 2017, the remaining dollar value under the stock repurchase program approved on January 22, 2015 and amended on April 26, 2016 was $346.3 million.