Equity

Cash Dividends on Shares of Common Stock

During the six months ended June 30, 2017, the Company declared a quarterly cash dividend of $0.10 per share of common stock on January 26, 2017 and April 25, 2017, which was paid on March 22, 2017 and June 22, 2017, respectively, to stockholders of record on March 1, 2017 and June 1, 2017, respectively, in the aggregate amount of $75.8 million. Any future dividends, and the establishment of record and payment dates, are subject to approval by the Board of Directors (the “Board”) of Juniper Networks or authorized committee thereof. See Note 16, Subsequent Events, for discussion of the Company's dividend declaration subsequent to June 30, 2017.

Stock Repurchase Activities

In 2014 and 2015, the Board approved a stock repurchase program that authorized the Company to repurchase up to $2.1 billion of its common stock, including $1.2 billion pursuant to an accelerated share repurchase program, and subsequent increases to the authorization totaling $1.8 billion (“Stock Repurchase Program”). In February 2017, the Board authorized an additional $500.0 million increase to the Stock Repurchase Program for a total of $4.4 billion.

The following table summarizes the Company's repurchases and retirements of its common stock under its Stock Repurchase Program (in millions, except per share amounts):



	Three Months Ended June 30,				Six Months Ended June 30,
	2017		2016		2017		2016
Shares repurchased	4.0		5.5		8.5		8.6
Average price per share	$	30.59	$	23.08	$	29.25	$	23.37
Amount repurchased	$	125.0	$	125.5	$	250.0	$	200.5

As of June 30, 2017, there was $469.7 million of authorized funds remaining under the Stock Repurchase Program.

Future share repurchases under the Stock Repurchase Program will be subject to a review of the circumstances at that time and will be made from time to time in private transactions or open market purchases as permitted by securities laws and other legal requirements. The Stock Repurchase Program may be discontinued at any time. See Note 16, Subsequent Events, for discussion of the Company's stock repurchase activity subsequent to June 30, 2017.

In addition to repurchases under the Stock Repurchase Program, the Company also repurchases common stock from certain employees in connection with the net issuance of shares to satisfy minimum tax withholding obligations upon the vesting of certain stock awards issued to such employees. Repurchases associated with tax withholdings were not material during the three and six months ended June 30, 2017. Repurchases associated with tax withholdings were $1.2 million and $9.6 million for the three and six months ended June 30, 2016.

Accumulated Other Comprehensive Loss, Net of Tax

The components of accumulated other comprehensive loss, net of related taxes, for the six months ended June 30, 2017 were as follows (in millions):



	Unrealized Gains on Available-for- Sale Securities⁽¹⁾			Unrealized (Losses) Gains on Cash Flow Hedges⁽²⁾			Foreign Currency Translation Adjustments			Total
Balance as of December 31, 2016	$	16.6		$	(4.5	)	$	(49.4	)	$	(37.3	)
Other comprehensive gains before reclassifications	1.6			8.3			10.9			20.8
Amount reclassified from accumulated other comprehensive loss	(0.1		)	0.1			—			—
Other comprehensive gains, net	1.5			8.4			10.9			20.8
Balance as of June 30, 2017	$	18.1		$	3.9		$	(38.5	)	$	(16.5	)

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⁽¹⁾	The reclassifications out of accumulated other comprehensive loss during the six months ended June 30, 2017 for realized gains on available-for-sale securities were not material, and were included in other expense, net, in the Condensed Consolidated Statements of Operations.


⁽²⁾	The reclassifications out of accumulated other comprehensive loss during the six months ended June 30, 2017 for realized gains on cash flow hedges were not material, and were included within cost of revenues, research and development, sales and marketing, and general and administrative in the Condensed Consolidated Statements of Operations.