Quarterly report pursuant to Section 13 or 15(d)

Stock Repurchase Program

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Stock Repurchase Program
 9 Months Ended
Mar. 31, 2014
Equity [Abstract]  
Stock Repurchase Program
STOCK REPURCHASE PROGRAM
Since July 1997, the Board of Directors has authorized the Company to systematically repurchase in the open market up to 80.8 million shares of its common stock under a repurchase program, including 8.0 million shares authorized in November 2012. 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 will be made from time to time 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 March 31, 2014, 2.9 million shares were available for repurchase under the Company’s repurchase program.
Share repurchases for the indicated periods (based on the settlement date of the applicable repurchase) were as follows:
 
Three months ended
March 31,
 
Nine months ended
March 31,
(In thousands)
2014
 
2013
 
2014
 
2013
Number of shares of common stock repurchased
930

 
1,289

 
2,927

 
4,115

Total cost of repurchases
$
59,880

 
$
68,343

 
$
180,686

 
$
204,943