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SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables)
 12 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Stock Options Outstanding Under Various Stock Option Plans
A summary of stock options outstanding under our 2004 Stock Option Plan is set forth below. All numbers shown in the chart below have been adjusted, where applicable, to account for the two-for-one stock splits that occurred on October 22, 2003, February 18, 2014 and January 24, 2017.
 
2004 Stock Option Plan
Date of inception
Oct-04
Eligibility
Eligible employees, as determined by the Board of Directors
Options granted to date
35,140,648
Options exercised to date
(19,192,995)
Options cancelled to date
(8,518,116)
Options outstanding
7,429,537
Termination grace periods
Immediately “for cause”; 90 days for any other reason; 180 days due to death
Vesting schedule
25% per year, unless otherwise specified
Exercise price range
$16.58 - $44.99
Expiration dates
8/2/2020 - 5/4/2027
Summary of Information Regarding Stock Options Outstanding
The following table summarizes information regarding stock options outstanding at June 30, 2020:
 
 
 
 
Options Outstanding 
 
Options Exercisable  
Range of Exercise
Prices
 
Number of options
Outstanding as of
June 30, 2020
Weighted
Average
Remaining
Contractual
Life (years) 
Weighted
Average
Exercise
Price 
 
Number of options
Exercisable as of
June 30, 2020
Weighted
Average
Exercise
Price
$
16.58

-
$
27.46

 
960,483

1.39
$
25.84

 
960,483

$
25.84

27.47

-
31.50

 
547,692

2.91
29.37

 
405,982

29.20

31.51

-
33.17

 
615,000

3.92
32.64

 
66,667

32.63

33.18

-
34.60

 
867,036

4.13
34.10

 
399,065

34.00

34.61

-
37.54

 
674,760

5.17
35.86

 
231,006

35.32

37.55

-
38.30

 
439,000

6.84
37.84

 
—

—

38.31

-
39.02

 
730,110

6.10
38.76

 
—

—

39.03

-
39.98

 
792,686

5.23
39.35

 
185,155

39.36

39.99

-
43.06

 
700,980

6.01
40.51

 
—

—

43.07

-
44.99

 
1,101,790

6.60
44.99

 
—

—

$
16.58

-
$
44.99

 
7,429,537

4.78
$
36.18

 
2,248,358

$
30.18
Summary of Share-based Compensation Costs
Total share-based compensation expense for the periods indicated below is detailed as follows: 
 
Year Ended June 30,
 
2020
 
2019
 
2018
Stock options
$
9,779

 
$
10,232

 
$
9,828

Performance Share Units (issued under LTIP)
5,997

 
3,461

 
3,553

Restricted Share Units (issued under LTIP)
5,943

 
5,917

 
6,602

Restricted Share Units (other)
174

 
175

 
936

Deferred Share Units (directors)
3,345

 
3,133

 
2,921

Employee Share Purchase Plan
4,294

 
3,852

 
3,754

Total share-based compensation expense
$
29,532

 
$
26,770

 
$
27,594
Summary of Option Activity
A summary of activity under our stock option plans for the year ended June 30, 2020 is as follows:
 
Options
 
Weighted-
Average Exercise
Price
 
Weighted-
Average
Remaining
Contractual Term
(years)
 
Aggregate Intrinsic Value
($’000s)
Outstanding at June 30, 2019
7,102,753

 
$
31.82

 
4.10
 
$
66,656

Granted
2,742,230

 
41.81

 
 
 
 
Exercised
(1,529,947
)
 
26.98

 
 
 
 
Forfeited or expired
(885,499
)
 
34.51

 
 
 
 
Outstanding at June 30, 2020
7,429,537

 
$
36.18

 
4.78
 
$
49,574

Exercisable at June 30, 2020
2,248,358

 
$
30.18

 
2.87
 
$
27,651

 
Options
 
Weighted-
Average Exercise
Price
 
Weighted-
Average
Remaining
Contractual Term
(years)
 
Aggregate Intrinsic Value
($’000s)
Outstanding at June 30, 2018
7,078,435

 
$
28.41

 
4.43
 
$
48,405

Granted
1,870,340

 
38.81

 
 
 
 
Exercised
(1,472,031
)
 
24.20

 
 
 
 
Forfeited or expired
(373,991
)
 
32.33

 
 
 
 
Outstanding at June 30, 2019
7,102,753

 
$
31.82

 
4.10
 
$
66,656

Exercisable at June 30, 2019
2,176,002

 
$
27.44

 
3.03
 
$
29,950
Schedule of Weighted-Average Fair Value of Options and Weighted-Average Assumptions Used
For the periods indicated, the weighted-average fair value of options and weighted-average assumptions were as follows:
 
Year Ended June 30,
 
2020
 
2019
 
2018
Weighted–average fair value of options granted
$
6.88

 
$
8.39

 
$
7.58

Weighted-average assumptions used:
 
 
 
 
 
Expected volatility
22.63
%
 
25.72
%
 
26.95
%
Risk–free interest rate
1.30
%
 
2.57
%
 
2.18
%
Expected dividend yield
1.64
%
 
1.54
%
 
1.50
%
Expected life (in years)
4.12

 
4.44

 
4.38

Forfeiture rate (based on historical rates)
7
%
 
6
%
 
6
%
Average exercise share price
$
41.81

 
$
38.81

 
$
34.60