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STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Dec. 31, 2012
Summary of Incentive Equity Awards

The activity related to the Company’s incentive equity awards for the three months ended December 31, 2012 consisted of the following:

 

     Stock Options      Time-based
Restricted Stock Units
     Performance-based
Restricted Stock Units
 
     Number of
Options (c)
    Weighted-
Average
Exercise
Price
     Number
of Shares
    Weighted-
Average
Grant
Date Fair
Value
     Number
of Shares
    Weighted-
Average
Grant
Date Fair
Value
 

Balances at October 1, 2012

     11,844,580      $ 19.54         2,037,730      $ 19.63         583,040      $ 20.13   

Granted

     117,591        22.67         1,040,816        21.25         246,894        21.25   

Exercise of stock options (a)

     (398,213     17.08         —         —          —         —    

Vesting of restricted stock units

     —         —          (6,169     20.07         —         —    

Expired/forfeited

     (70,551     19.47         (75,483     19.95         (6,657     19.91   
  

 

 

      

 

 

      

 

 

   

Balances at December 31, 2012 (b)

     11,493,407      $ 19.66         2,996,894      $ 20.18         823,277      $ 20.47   
  

 

 

      

 

 

      

 

 

   

 

(a) Stock options exercised during the period of October 1, 2012 through December 31, 2012 had an intrinsic value of $2.5 million.
(b) As of December 31, 2012, the Company’s outstanding “in the money” stock options using the December 31, 2012 closing stock price of $22.88 (approximately 9.0 million shares) had an aggregate intrinsic value of $38.5 million. As of December 31, 2012, time-based restricted stock units and performance-based restricted stock units expected to vest using the December 31, 2012 share price of $22.88 (approximately 2.8 million and 0.8 million shares, respectively) had an aggregate intrinsic value of $63.4 million and $17.8 million, respectively.
(c) Stock options outstanding as of December 31, 2012 have a weighted-average remaining contractual life of 4.9 years and 9.6 million stock options are exercisable.

 

The activity related to the Company’s incentive equity awards for the six months ended December 31, 2012 consisted of the following:

 

     Stock Options      Time-based
Restricted Stock Units
     Performance-based
Restricted Stock Units
 
     Number of
Options
    Weighted-
Average
Price
     Number
of Shares
    Weighted-
Average
Grant
Date Fair
Value
     Number
of Shares
    Weighted-
Average
Grant
Date Fair
Value
 

Balances at July 1, 2012

     12,381,488      $ 19.42         2,025,569      $ 19.61         703,195      $ 20.39   

Granted

     117,591        22.67         1,060,682        21.24         246,894        21.25   

Exercise of stock options (a)

     (915,021     16.90         —         —          —         —    

Vesting of restricted stock units (b)

     —         —          (6,169     20.07         (9,680     23.30   

Expired/forfeited

     (90,651     18.85         (83,188     19.90         (117,132     21.42   
  

 

 

      

 

 

      

 

 

   

Balances at December 31, 2012

     11,493,407      $ 19.66         2,996,894      $ 20.18         823,277      $ 20.47   
  

 

 

      

 

 

      

 

 

   

 

(a) Stock options exercised during the period of July 1, 2012 through December 31, 2012 had an intrinsic value of $5.8 million.
(b) Performance-based restricted stock units that vested during the period of July 1, 2012 through December 31, 2012 had a fair value of $0.2 million.