Stock Repurchase Program
|12 Months Ended
Jun. 30, 2014
|Stock Repurchase Program [Abstract]
|Stock Repurchase Program
STOCK REPURCHASE PROGRAM
Our 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 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 June 30, 2014, 2.0 million shares were available for repurchase under the Company’s repurchase program. Following the completion of the fiscal year ended June 30, 2014, the Company's Board of Directors authorized KLA-Tencor to repurchase additional shares under this program; for more information, refer to Note 19, "Subsequent Events" to the Consolidated Financial Statements.
Share repurchases for the indicated periods (based on the settlement date of the applicable repurchase) were as follows: