XML 23 R33.htm IDEA: XBRL DOCUMENT v3.2.0.727
Share - Based Compensation (Tables)
12 Months Ended
Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of share based compensation expense
The 2011 Plan, which expires in 2016, provides for granting of SARs, stock options, stock awards, cash awards, and such other awards or combination thereof as the Executive Organization and Compensation Committee or, in the case of director awards, the Corporate Governance Committee of the Board of Directors (together referred to as the Committee) may determine to officers, other key employees and members of the Board of Directors. Grants are generally made at regularly scheduled, committee meetings. Compensation costs charged to expense under award programs paid (or to be paid) with shares (including SARs, stock options, performance shares, restricted stock, and RSUs) are summarized in the table below:
Year Ended June 30,
2015

 
2014

 
2013

SARs and options
$
1,610

 
$
1,808

 
$
2,317

Performance shares
836

 
309

 
1,074

Restricted stock and RSUs
2,015

 
2,394

 
2,370

Total compensation costs under award programs
$
4,461

 
$
4,511

 
$
5,761

Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]
The aggregate unrecognized compensation cost for share-based award programs paid (or with the potential to be paid) at June 30, 2015 are summarized in the table below:
June 30,
(Shares in thousands)
2015

 
Expected Period of Recognition (Years)
SARs and options
$
1,792

 
2.4
Performance shares
3,701

 
1.7
Restricted stock and RSUs
1,898

 
2.3
Total unrecognized compensation costs under award programs
$
7,391

 
2.0
Weighted-average assumptions used for SARs and stock option grants issued
The weighted-average assumptions used for SARs and stock option grants issued in fiscal 2015, 2014
and 2013 are:
 
2015

 
2014

 
2013

Expected life, in years
4.7

 
4.6

 
5.5

Risk free interest rate
1.4
%
 
1.3
%
 
0.9
%
Dividend yield
2.5
%
 
2.5
%
 
2.5
%
Volatility
29.0
%
 
31.8
%
 
43.3
%
Per share fair value of SARs and stock options granted during the year
$9.53
 
$11.02
 
$13.11
Summary of SARs and stock option activity
A summary of SARs and stock options activity is presented below:
 
Shares

 
Weighted-Average
Exercise Price

Year Ended June 30, 2015
 
(Shares in thousands)
 
Outstanding, beginning of year
1,039

 
$
33.40

Granted
208

 
47.69

Exercised
(75
)
 
25.23

Forfeited
(56
)
 
48.47

Outstanding, end of year
1,116

 
$
35.86

Exercisable at end of year
781

 
$
31.32

Performance Shares [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of the performance shares and restricted stock activity
A summary of nonvested performance shares activity at June 30, 2015 is presented below:
 
Shares

 
Weighted-Average
Grant-Date  
Fair Value

Year Ended June 30, 2015
 
(Shares in thousands)
 
Nonvested, beginning of year
41

 
$
35.97

Awarded
18

 
49.43

Forfeitures
(1
)
 
50.40

Vested
(20
)
 
27.28

Nonvested, end of year
38

 
$
46.66

Restricted stock and Restricted Stock units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of the performance shares and restricted stock activity
A summary of the status of the Company’s non-vested restricted stock and RSUs at June 30, 2015 is
presented below:
 
Shares

 
Weighted-Average
Grant-Date  
Fair Value

Year Ended June 30, 2015
 
(Share amounts in thousands)
 
Nonvested, beginning of year
133

 
$
37.60

Granted
48

 
46.48

Forfeitures
(7
)
 
48.81

Vested
(84
)
 
32.54

Nonvested, end of year
90

 
$
46.18