AMDOCS LIMITED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS — (Continued) (dollar and share amounts in thousands, except per share data) During fiscal 2013, the net increase in valuation allowances was $10,191, which related to the uncertainty of realizing tax benefits primarily for tax credits, net capital and operating loss carryforwards related to certain of the Company’s subsidiaries. As of September 30, 2013, the Company had tax credits, net capital and operating loss carryforwards of $547,875, of which $173,864 have expiration dates through 2033, and the remainder do not expire. During fiscal 2012, the net decrease in valuation allowances was $20,825, which related to the uncertainty of realizing tax benefits primarily for tax credits, net capital and operating loss carryforwards related to certain of the Company’s subsidiaries. As of September 30, 2012, the Company had tax credits, net capital and operating loss carryforwards of $540,945, of which $162,844 have expiration dates through 2032, and the remainder do not expire. The aggregate changes in the balance of the Company’s gross unrecognized tax benefits were as follows: The total amount of unrecognized tax benefits, which includes interest and penalties, was $130,371 as of September 30, 2013, all of which would affect the effective tax rate if realized. The Company recognizes interest and penalties related to unrecognized tax benefits in the provision for income taxes. As of September 30, 2013, the Company had accrued $19,126 in income taxes payable for interest and penalties relating to unrecognized tax benefits, of which $422 was recognized in the statements of income in fiscal 2013. As of September 30, 2012, the Company had accrued $18,704 in income taxes payable for interest and penalties relating to unrecognized tax benefits, of which $731 was recognized in the statements of income in fiscal 2012. The Company is currently under audit in several jurisdictions for the tax years 2007 and onwards. Timing of the resolution of audits is highly uncertain and therefore the Company generally cannot estimate the change in unrecognized tax benefits resulting from these audits within the next 12 months. The Company believes that the amount of unrecognized tax benefits will increase during fiscal 2014 in the ordinary course of business. In addition it is reasonably possible that the amount of unrecognized tax benefits will decrease by $18,385 as a result of lapse of statutes of limitations in jurisdictions in which the Company operates. From time to time, the Company’s board of directors has adopted share repurchase plans authorizing the repurchase of the Company’s outstanding ordinary shares. The current share repurchase plan authorizes the repurchase of up to $500,000 of the Company’s outstanding ordinary shares with no expiration date. In fiscal 2013, the Company repurchased approximately 10,370 ordinary shares at an average price of $35.38 per share (excluding broker and transaction fees). As of September 30, 2013, the Company had remaining authority to F-27 Note 12 — Repurchase of Shares Year Ended September 30, 2013 2012 2011 Balance at beginning of fiscal year .................................. $133,874 $132,861 $118,662 Additions based on tax positions related to the current year ............... 19,527 20,183 19,849 Additions for tax positions of prior years ............................. 10,750 4,918 3,548 Reductions for tax positions of prior years ............................ — (5,527) — Settlements with tax authorities ..................................... (3,994) (3,290) (5,231) Lapse of statute of limitations ...................................... (29,786) (15,271) (3,967) Balance at end of fiscal year ....................................... $130,371 $133,874 $132,861