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SHARE-BASED COMPENSATION PLANS (Tables)
 12 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Share-based compensation expense
Total share-based compensation from continuing operations is shown in the table below:
202020192018
Equity plan expense (a)
$24.8 $13.4 $28.9 
Equity plan modified and cash settled18.3 — — 
Liability plan (income) expense(2.0)(2.1)(1.0)
Fringe expense1.1 0.4 2.5 
Total share-based compensation expense$42.2 $11.7 $30.4 
(a) Equity Plan shared-based compensation expense of $31.8 was recorded to additional paid in capital and presented in the Consolidated Statement of Equity for the period ended June 30, 2020. Of the $31.8, $7.0 was reclassified to discontinued operations.
Fair value valuation assumptions
During fiscal 2020, 2019 and 2018, the share-based compensation expense recognized on nonqualified stock options is based upon the fair value on the grant date estimated using the Black-Scholes valuation model with the following weighted-average assumptions:
202020192018
Expected life 7.4 years6.5 years7.5 years
Risk-free interest rate1.63%2.56%2.19%
Expected volatility41.67%40.73%36.03%
Expected dividend yield4.10%4.64%2.98%
The fair value of the Company’s outstanding Series A and Series A-1 Preferred Stock that are liability accounted were estimated with the following weighted-average assumptions.
202020192018
Expected life, in years 3.74 years4.97 years4.52 years
Expected volatility53.20%42.53%35.00%
Risk-free rate of return0.24%2.45%2.70%
Dividend yield on Class A Common Stock8.39%6.19%3.55%
Outstanding nonqualified stock option activity
The Company’s outstanding nonqualified stock options as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Weighted
Average
Exercise
Price		Aggregate
Intrinsic
Value		Weighted
Average
Remaining
Contractual
Term (in years)
Outstanding at July 1, 201927.9 $12.89 
Granted2.2 12.21 
Exercised(0.3)9.56 
Forfeited(11.8)12.79 
Outstanding at June 30, 202018.0 $12.93 
Vested and expected to vest at June 30, 202015.0 $12.75 $— 7.92
Exercisable at June 30, 20200.8 $10.24 $— 0.82
Schedule of stock summary
A summary of the aggregated weighted-average grant date fair value of stock options granted and total intrinsic value of stock options exercised for fiscal 2020, 2019 and 2018 is presented below:
202020192018
Weighted-average grant date fair value of stock options$3.41 $2.87 $4.87 
Intrinsic value of options exercised6.1 11.5 32.2 
Schedule of nonvested nonqualified share activity
The Company’s non-vested nonqualified stock options as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Weighted
Average
Grant Date
Fair Value
Non-vested at July 1, 201926.8 $3.72 
Granted2.2 3.41 
Forfeited(11.8)3.64 
Non-vested at June 30, 202017.2 $3.73 
The Company’s non-vested shares of Series A and Series A-1 Preferred Stock as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Weighted
Average
Grant Date
Fair Value
Non-vested at July 1, 20198.4 $1.39 
Forfeited(7.9)3.72 
Non-vested at June 30, 20200.5 $3.55 
Scheduled of outstanding Series A preferred shares
The Company’s outstanding Series A and Series A-1 Preferred Shares as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Weighted
Average
Exercise Price		Aggregate Intrinsic ValueWeighted Average Remaining Contractual Term (in years)
Outstanding at July 1, 20199.4 $11.47 
Forfeited(7.9)9.46 
Outstanding at June 30, 20201.5 22.10 
Vested and expected to vest at June 30, 20201.0 $22.39 $— 3.74
Outstanding RSU and restricted stock activity
The Company’s outstanding RSUs as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Aggregate
Intrinsic
Value		Weighted
Average
Remaining
Contractual
Term
Outstanding at July 1, 201910.5 
Granted6.4 
Settled(1.4)
Cancelled(3.6)
Outstanding at June 30, 202011.9 
Vested and expected to vest at June 30, 202010.1 $45.4 2.16
Outstanding and non-vested RSU and restricted stock activity
The Company’s outstanding and non-vested RSUs as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Weighted
Average
Grant Date
Fair Value
Outstanding and nonvested at July 1, 201910.2 $14.79 
Granted6.4 10.95 
Vested(1.4)21.41 
Cancelled(3.6)13.17 
Outstanding and nonvested at June 30, 202011.6 $12.48 
Schedule of restricted stock activity
The Company’s outstanding Restricted Stock as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Aggregate
Intrinsic
Value		Weighted
Average
Remaining
Contractual
Term
Outstanding at July 1, 2019— 
Granted2.3 
Settled(0.9)
Outstanding at June 30, 20201.4 
Vested and expected to vest at June 30, 20201.3 $— 1.88
The Company’s outstanding and non-vested restricted stock as of June 30, 2020 and activity during the fiscal year then ended are presented below:
Shares
(in millions)		Weighted
Average
Grant Date
Fair Value
Outstanding and nonvested at July 1, 2019— $— 
Granted2.3 5.08 
Vested(0.9)5.08 
Outstanding and nonvested at June 30, 20201.4 $5.08