Stockholders' Equity

6 Months Ended

Dec. 31, 2016

Equity [Abstract]

Stockholders' Equity

Note 13. Stockholders' Equity

Repurchase of Common Stock

In September 2016, the Board of Directors increased the Company’s previously authorized stock repurchase program from $100 million to $150 million. Under the revised repurchase authorization, the Company may repurchase up to $150 million of the Company’s common stock from time to time at the discretion of the Company’s management. This stock repurchase authorization expires on December 31, 2017.

During the three months endedDecember 31, 2016, the Company repurchased approximately 1.9 million shares of its common stock for $14.2 million . As of December 31, 2016, the Company had remaining authorization of $105.7 million for future share repurchases. The number of shares to be repurchased and the timing of such repurchases will be based on several factors, including business and financial market conditions.

All common shares repurchased under this program have been canceled and retired.