SHARE-BASED COMPENSATION PLANS (Tables)

12 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Share-based compensation expense

Total share-based compensation from continuing operations is shown in the table below:

	2022		2021		2020
Equity plan expense (a)	$	195.4	$	25.4	$	24.8
Equity plan modified and cash settled	—		0.9		18.3
Liability plan expense (income)	0.1		1.6		(2.0)
Fringe expense	2.3		0.5		1.1
Total share-based compensation expense	$	197.8	$	28.4	$	42.2

(a) Equity plan shared-based compensation expense of $195.4 and $27.4 was recorded to additional paid in capital and presented in the Consolidated Statement of Equity for the fiscal years ended June 30, 2022 and 2021, respectively. Of the $195.4 and $27.4 for the fiscal years ended June 30, 2022 and 2021, respectively, $0.0 and $2.0 was reclassified to discontinued operations.

Fair value valuation assumptions

During fiscal 2020, the share-based compensation expense recognized on non-qualified 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:

	2020
Expected life	7.4 years
Risk-free interest rate	1.63%
Expected volatility	41.67%
Expected dividend yield	4.10%

The fair value of the Company’s outstanding Series A Preferred Stock were estimated with the following assumptions.

	2022	2021	2020
Expected life, in years	1.74 years	2.74 years	3.74 years
Expected volatility	65.57%	51.64%	53.20%
Risk-free rate of return	2.89%	0.46%	0.24%
Dividend yield on Class A Common Stock	1.56%	1.34%	8.39%

Outstanding nonqualified stock option activity

The Company’s outstanding non-qualified stock options as of June 30, 2022 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, 2021	13.4	$	13.00
Forfeited	(7.6)	13.12
Outstanding at June 30, 2022	5.8	$	12.85
Vested and expected to vest at June 30, 2022	5.2	$	13.13	$	—	6.11
Exercisable at June 30, 2022	3.5	$	13.59	$	—	5.88

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 is presented below:

	2020
Weighted-average grant date fair value of stock options	$	3.41
Intrinsic value of options exercised	6.1

Schedule of nonvested nonqualified share activity

The Company’s non-vested non-qualified stock options as of June 30, 2022 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, 2021	12.8	$	2.84
Vested	(3.9)	4.39
Forfeited	(6.6)	3.61
Non-vested at June 30, 2022	2.3	$	3.14

The Company’s non-vested shares of Series A Preferred Stock as of June 30, 2022 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, 2021	0.5	$	3.55
Vested	(0.3)	3.48
Non-vested at June 30, 2022	0.2	$	3.65

Scheduled of outstanding Series A preferred shares

The Company’s outstanding Series A Preferred Shares as of June 30, 2022 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, 2021	1.5	$	22.10
Outstanding at June 30, 2022	1.5	22.10
Vested and expected to vest at June 30, 2022	1.0	$	22.39	$	—	1.74
Exercisable	1.3	$	22.45	$	—	1.72

Outstanding RSU and restricted stock activity

The Company’s outstanding RSUs as of June 30, 2022 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, 2021	44.2
Granted	4.9
Settled	(14.2)
Cancelled	(2.5)
Outstanding at June 30, 2022	32.4
Vested and expected to vest at June 30, 2022	31.0	$	248.4	1.35

Outstanding and non-vested RSU and restricted stock activity

The Company’s outstanding and non-vested RSUs as of June 30, 2022 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, 2021	43.9	$	8.78
Granted	4.9	7.86
Vested	(14.3)	8.84
Cancelled	(2.5)	8.56
Outstanding and nonvested at June 30, 2022	32.0	$	8.63

Schedule of restricted stock activity

The Company’s outstanding restricted stock as of June 30, 2022 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, 2021	0.5
Granted	0.3
Settled	(0.2)
Outstanding at June 30, 2022	0.6
Vested and expected to vest at June 30, 2022	0.5	$	4.4	1.82

The Company’s outstanding and non-vested restricted stock as of June 30, 2022 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, 2021	0.5	$	5.08
Granted	0.3	7.47
Vested	(0.2)	5.08
Outstanding and nonvested at June 30, 2022	0.6	$	6.58