Share Capital, Option Plans and Share-Based Payments (Tables)

6 Months Ended

Dec. 31, 2017

Total share-based compensation expense for the periods indicated below is detailed as follows:



	Three Months Ended December 31,				Six Months Ended December 31,
	2017		2016		2017		2016
Stock options	$	2,729	$	2,787	$	6,031	$	6,675
Performance Share Units (issued under LTIP)	937		947		1,972		1,828
Restricted Share Units (issued under LTIP)	1,513		1,765		3,399		3,367
Restricted Share Units (other)	198		743		677		1,495
Deferred Share Units (directors)	945		830		1,492		1,341
Employee Share Purchase Plan	836		500		1,822		1,006
Total share-based compensation expense	$	7,158	$	7,572	$	15,393	$	15,712

A summary of activity under our stock option plans for the six months ended December 31, 2017 is as follows:



	Options		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value ($’000s)
Outstanding at June 30, 2017	8,977,830		$	24.57
Granted	823,830		34.49
Exercised	(1,193,226	)	16.37
Forfeited or expired	(156,004	)	31.23
Outstanding at December 31, 2017	8,452,430		$	26.57	4.34	$	76,949
Exercisable at December 31, 2017	3,224,756		$	21.74	2.96	$	44,909

For the periods indicated, the weighted-average fair value of options and weighted-average assumptions were as follows:



	Three Months Ended December 31,						Six Months Ended December 31,
	2017			2016			2017			2016
Weighted–average fair value of options granted	$	7.49		$	6.58		$	7.46		$	6.54
Weighted-average assumptions used:
Expected volatility	26.64		%	28.53		%	27.11		%	29.29		%
Risk–free interest rate	1.95		%	1.22		%	1.81		%	1.06		%
Expected dividend yield	1.48		%	1.43		%	1.45		%	1.45		%
Expected life (in years)	4.58			4.34			4.42			4.33
Forfeiture rate (based on historical rates)	6		%	5		%	6		%	5		%
Average exercise share price	$	34.48		$	30.37		$	34.49		$	29.83