Annual report pursuant to Section 13 and 15(d)

Stock Repurchase Program

v3.5.0.2
Stock Repurchase Program
 12 Months Ended
Jun. 30, 2016
Equity [Abstract]  
Stock Repurchase Program
STOCK REPURCHASE PROGRAM
The Company’s Board of Directors has authorized a program for the Company to repurchase shares of the Company’s common stock. The intent of this program is to offset the dilution from KLA-Tencor’s equity incentive plans and employee stock purchase plan, as well as to return excess cash to the Company’s stockholders. Subject to market conditions, applicable legal requirements and other factors, the repurchases were made in the open market in compliance with applicable securities laws, including the Securities Exchange Act of 1934 and the rules promulgated thereunder such as Rule 10b-18. As of June 30, 2016, an aggregate of approximately 5.9 million shares were available for repurchase under the Company’s repurchase program. In connection with entering into the Merger Agreement with Lam Research, the Company suspended further repurchases under its repurchase program effective October 21, 2015.
Share repurchases for the indicated periods (based on the trade date of the applicable repurchase) were as follows: 
(In thousands)
Year ended June 30,
2016
 
2015
Number of shares of common stock repurchased
3,445

 
9,255

Total cost of repurchases
$
175,743

 
$
608,856


As of June 30, 2015, the Company had repurchased 105,542 shares for $6.0 million, which repurchases had not settled prior to June 30, 2015. The amount was recorded as a component of other current liabilities for the period presented.