Quarterly report pursuant to Section 13 or 15(d)

Stock Repurchase Program

v2.4.1.9
Stock Repurchase Program
 9 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Stock Repurchase Program
NOTE 9 – 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 will be made from time to time in the open market in compliance with applicable securities laws, including the Securities Exchange Act of 1934, as amended, and the rules promulgated thereunder, such as Rule 10b-18. On July 8, 2014, the Company’s Board of Directors authorized KLA-Tencor to repurchase up to 13 million additional shares of the Company’s common stock. On October 23, 2014, as part of the leveraged recapitalization transaction announcement, the Board of Directors authorized an increase to the existing stock repurchase program of 3.6 million additional shares of the Company’s common stock. As of March 31, 2015, an aggregate of approximately 12.1 million shares were available for repurchase under the Company’s repurchase program.
Share repurchases for the indicated periods (based on the trade date of the applicable repurchase) were as follows:
 
Three months ended
March 31,
 
Nine months ended
March 31,
(In thousands)
2015
 
2014
 
2015
 
2014
Number of shares of common stock repurchased
2,644

 
930

 
6,506

 
2,927

Total cost of repurchases
$
168,943

 
$
59,880

 
$
447,892

 
$
180,686


As of March 31, 2015, the Company had repurchased 218,600 shares for $12.9 million, which repurchases had not settled prior to March 31, 2015 and were recorded as a component of other current liabilities.