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Stockholders' Equity
 9 Months Ended
Mar. 31, 2015
Stockholders' Equity
(4) Stockholders’ Equity

Share Repurchase Program

In February 2015, the Company’s Board of Directors authorized an additional share repurchase program of $200 million of the Company’s outstanding common stock increasing the cumulative share repurchase authorization to $1.2 billion. The Company plans to repurchase its common stock from time to time or on an accelerated basis through open market transactions or privately negotiated transactions as determined by the Company’s management. The amount and timing of stock repurchases under the program will depend on business and market conditions, stock price, trading restrictions, acquisition activity and other factors. As of March 31, 2015, approximately $199.7 million remained available for repurchases under the program. The Company uses the par value method of accounting for its stock repurchases. As a result of the stock repurchases, the Company reduced common stock and additional paid-in capital and recorded charges to retained earnings. The shares retired, aggregate common stock and additional paid-in capital reductions, and related charges to retained earnings for the repurchases for the three and nine months ended March 31, 2015 and 2014 were as follows:

 

(In thousands)    Three months ended
March 31,		      Nine months ended
March 31,		  
     2015      2014      2015      2014  

Shares purchased and retired

      1,779         1,554         4,729         8,545   

Common stock and additional paid-in-capital reductions

    $ 15,212       $ 12,384       $ 40,172       $ 67,420   

Charges to retained earnings

    $ 46,782       $ 29,506       $ 125,774       $ 154,594