Share Repurchase Program

9 Months Ended

Mar. 31, 2016

Equity [Abstract]

Share Repurchase Program

Share Repurchase Program

In October 2014, the Company’s Board of Directors authorized a share repurchase program. The program authorizes the purchase of up to $500.0 million of the Company’s outstanding common stock over two years. The shares may be repurchased from time to time at the Company's discretion based on capital needs of the business, general market conditions and the market price of the stock. The share repurchase program may be discontinued at any time. During the nine months ended March 31, 2016, the Company purchased 3,762,200 of its common stock on the open market for an aggregate of $123.9 million. As of March 31, 2016, $251.6 million remains available for future purchases.