Share Repurchases

6 Months Ended

Dec. 31, 2019

Dividends And Share Repurchase Program [Abstract]

Share Repurchase

15. Share Repurchases

On November 7, 2018, the Board of Directors (the “Board”) authorized Adtalem’s current share repurchase program, which allows Adtalem to repurchase up to $300 million of its common stock through December 31, 2021. The current share repurchase program commenced in January 2019. Adtalem made share repurchases under the current and former share repurchase programs as follows (in thousands, except shares and per share data):

	Three Months Ended				Six Months Ended				Life-to-Date
	December 31,				December 31,				Current Share
	2019		2018		2019		2018		Repurchase Program
Total number of share repurchases		1,755,160		1,131,124		2,673,967		2,365,451		5,219,123
Total cost of share repurchases	$	59,764	$	56,758	$	100,019	$	115,933	$	217,899
Average price paid per share	$	34.05	$	50.18	$	37.40	$	49.01	$	41.75

As of December 31, 2019, $82.1 million of authorized share repurchases were remaining under the current share repurchase program. On January 31, 2020, the Board authorized Adtalem’s twelfth share repurchase program, which allows Adtalem to repurchase up to $300 million of its common stock through December 31, 2021. The new program will commence when the repurchases from the current program are complete. The timing and amount of any repurchases will be determined based on an evaluation of market conditions and other factors. These repurchases may be made through the open market, including block purchases, in privately negotiated transactions, or otherwise. The repurchases will be funded through available cash balances and/or borrowings and may be suspended or discontinued at any time. Shares of stock repurchased under the programs are held as treasury shares. These repurchased shares have reduced the weighted-average number of shares of common stock outstanding for basic and diluted earnings per share calculations.