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Share Repurchases

6 Months Ended

Dec. 31, 2021

Dividends And Share Repurchase Program [Abstract]

15. Share Repurchases

On November 8, 2018, we announced that the Board authorized Adtalem’s eleventh share repurchase program, which allowed Adtalem to repurchase up to $300 million of its common stock through December 31, 2021. The eleventh share repurchase program commenced in January 2019 and was completed in January 2021. On February 4, 2020, we announced that the Board authorized Adtalem’s twelfth share repurchase program, which allowed Adtalem to repurchase up to $300 million of its common stock through December 31, 2021. The twelfth share repurchase program commenced in January 2021. Adtalem made share repurchases under its share repurchase programs as follows (in thousands, except shares and per share data):


	Three Months Ended				Six Months Ended				Life-to-Date
	December 31,				December 31,				Twelfth Share
	2021		2020		2021		2020		Repurchase Program
Total number of share repurchases		—		1,473,863		—		1,473,863		1,447,882
Total cost of share repurchases	$	—	$	44,963	$	—	$	44,963	$	54,769
Average price paid per share	$	—	$	30.51	$	—	$	30.51	$	37.83

Repurchases under our share repurchase programs were suspended on March 12, 2020 due to the economic uncertainty caused by the COVID-19 pandemic. In November 2020, Adtalem resumed repurchases under its share repurchase programs. We did not make any share repurchases during the three or six months ended December 31, 2021. The twelfth share repurchase program expired on December 31, 2021. We currently do not have an active share repurchase program. Shares of stock repurchased under the programs are held as treasury shares. These repurchased shares have reduced the weighted-average number of shares of common stock outstanding for basic and diluted earnings per share calculations.