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Share - Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]  
Schedule of share based compensation expense
Following approval by the Company's shareholders in October 2019, the 2019 Long-Term Performance Plan (the "2019 Plan") replaced the 2015 Long-Term Performance Plan. The 2019 Plan, which expires in 2024, 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 & Sustainability 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, performance shares, restricted stock, and RSUs) are summarized in the table below:
Year Ended June 30,202320222021
SARs$2,785 $3,284 $2,526 
Performance shares5,302 4,549 2,494 
Restricted stock and RSUs4,274 4,009 3,960 
Total compensation costs under award programs$12,361 $11,842 $8,980 
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block]
The aggregate unrecognized compensation cost for share-based award programs with the potential to be paid at June 30, 2023 is summarized in the table below:
June 30,2023Average Expected Period of Expected Recognition (Years)
SARs$3,267 2.7
Performance shares5,694 1.7
Restricted stock and RSUs4,036 1.8
Total unrecognized compensation costs under award programs$12,997 2.0
Weighted-average assumptions used for SARs and stock option grants issued
The weighted-average assumptions used for SARs grants issued in fiscal 2023, 2022 and 2021 are:
202320222021
Expected life, in years6.26.47.0
Risk free interest rate2.9 %1.0 %0.5 %
Dividend yield1.3 %1.5 %1.9 %
Volatility35.5 %34.3 %32.0 %
Per share fair value of SARs granted during the year$35.98$26.18$17.97
Summary of SARs and stock option activity
A summary of SARs and stock options activity is presented below:
SharesWeighted-Average
Exercise Price
Year Ended June 30, 2023
(Shares in thousands)
Outstanding, beginning of year965 $61.85 
Granted112 104.33 
Exercised(257)53.84 
Forfeited(4)77.65 
Outstanding, end of year816 $70.11 
Exercisable at end of year537 $62.64 
Expected to vest at end of year810 $69.90 
Schedule of Nonvested Performance-Based Units Activity
A summary of non-vested performance shares activity at June 30, 2023 is presented below:
Shares
Weighted-Average
Grant-Date
Fair Value
Year Ended June 30, 2023
(Shares in thousands)
Non-vested, beginning of year131 $58.27 
Awarded73 74.10 
Forfeitures(2)62.43 
Vested(43)53.63 
Non-vested, end of year159 $96.37 
Schedule of Nonvested Restricted Stock Units Activity
A summary of the status of the Company’s non-vested restricted stock and RSUs at June 30, 2023 is presented below:
Shares
Weighted-Average
Grant-Date
Fair Value
Year Ended June 30, 2023
(Share amounts in thousands)
Non-vested, beginning of year177 $69.23 
Granted37 108.60 
Forfeitures(5)76.91 
Vested(66)60.02 
Non-vested, end of year143 $83.35