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TREASURY STOCK
3 Months Ended
Jun. 30, 2017
Equity [Abstract]  
TREASURY STOCK
TREASURY STOCK
On May 19, 2015, the Company’s board of directors approved a share repurchase program, conditional upon the completion of the Comms Transaction. This program enables the Company to repurchase up to 20 million shares of its common stock. This plan became effective on July 14, 2015 upon the completion of the Comms Transaction. The Company is not obligated to acquire any specific amount of common stock within any particular timeframe under this program. Through June 30, 2017, the Company has repurchased 16,006,995 shares totaling $480.0 million in the open market under this stock repurchase plan. At June 30, 2017, 3,993,005 shares of common stock remained available to be purchased under the plan. The Company repurchased 2,780,433 shares for $100.0 million under the program during the three months ended June 30, 2017.
In connection with the delivery of common shares upon vesting of restricted stock units, the Company withheld 147,179 shares at a cost of $5.4 million related to minimum statutory tax withholding requirements on these restricted stock units during the three months ended June 30, 2017. These withholding transactions do not fall under the repurchase program described above, and therefore do not reduce the amount that is available for repurchase under that program.