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Stock-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Incentive Equity Awards
The activity related to the Company’s incentive equity awards for the fiscal years ended June 30, 2020, 2019 and 2018 consisted of the following:
 Stock OptionsTime-based
RSUs		Performance-based
RSUs
 Number
of
Options		Weighted
Average
Exercise
Price		Number
of
Shares		Weighted
Average
Grant-Date
Fair Value		Number
of
Shares		Weighted
Average
Grant-Date
Fair Value
Balances at July 1, 20175,137,641  $39.63  1,074,593  $55.98  470,862  $58.26  
Granted1,079,442  93.42  456,217  78.86  198,485  76.71  
Exercised (a)(1,654,877) 31.09  —  —  —  —  
Vesting of RSUs (b)—  —  (463,561) 52.86  (150,068) 52.96  
Expired/forfeited(83,918) 42.89  (84,850) 60.18  (123,590) 43.00  
Balances at June 30, 20184,478,288  $55.69  982,399  $67.72  395,689  $74.29  
Granted528,978  98.72  360,147  121.11  133,213  116.53  
Exercised (a)(784,372) 39.94  —  —  —  —  
Vesting of RSUs (b)—  —  (430,270) 63.97  (198,420) 64.50  
Expired/forfeited(21,280) 94.14  (92,977) 76.57  (4,705) 80.57  
Balances at June 30, 20194,201,614  $63.85  819,299  $92.15  325,777  $97.43  
Granted501,192  117.43  340,006  118.74  110,260  120.09  
Exercised (a)(905,231) 46.47  —  —  —  —  
Vesting of RSUs (b)—  —  (408,716) 78.76  (176,900) 77.19  
Expired/forfeited(26,788) 88.01  (50,591) 113.07  (7,541) 80.24  
Balances at June 30, 2020 (c)3,770,787  $74.97  699,998  $111.37  251,596  $122.11  
 
(a)Stock options exercised during the fiscal years ended June 30, 2020, 2019 and 2018 had intrinsic values of $68.9 million, $65.8 million and $116.3 million, respectively.
(b)Time-based RSUs that vested during the fiscal years ended June 30, 2020, 2019 and 2018 had a total fair value of $38.4 million, $45.4 million and $50.6 million, respectively. Performance-based RSUs that vested during the fiscal years ended June 30, 2020, 2019 and 2018 had a total fair value of $16.5 million, $21.7 million and $19.1 million, respectively.
(c)As of June 30, 2020, the Company’s outstanding stock options using the fiscal year-end share price of $126.19 had an aggregate intrinsic value of $193.1 million. As of June 30, 2020, the Company’s outstanding “in the money” vested stock options using the fiscal year-end share price of $126.19 had an aggregate intrinsic value of $145.8 million. As of June 30, 2020, time-based RSUs and performance-based RSUs expected to vest using the fiscal year-end share price of $126.19 (approximately 0.7 million and 0.2 million shares, respectively) had an aggregate intrinsic value of $83.7 million and $30.3 million, respectively. Performance-based RSUs granted in the table above represent initial target awards, and performance adjustments for (i) change in shares issued based upon attainment of performance goals determined in the period, and (ii) estimated change in shares issued resulting from attainment of performance goals to be determined at the end of the prospective performance period.
Summary of Outstanding and Exercisable Stock Options
The tables below summarize information regarding the Company’s outstanding and exercisable stock options as of June 30, 2020:
 Outstanding Options
 Options
Outstanding		Weighted
Average
Remaining
Contractual
Term
(in years)		Weighted
Average
Exercise
Price Per Share		Aggregate Intrinsic Value (in millions) (a)
Range of Exercise Prices
$0.01 to $35.00
383,527  2.14$22.66  
$35.01 to $50.00
428,000  3.57$37.69  
$50.01 to $65.00
602,156  5.02$52.56  
$65.01 to $80.00
333,869  6.52$67.32  
$80.01 to $95.00
999,436  7.46$93.40  
$95.01 to $110.00
522,607  8.55$98.67  
$110.01 to $125.00
501,192  9.59$117.43  
3,770,787  6.44$74.97  $193.1  
 Exercisable Options
Range of Exercise PricesOptions
Exercisable		Weighted
Average
Remaining
Contractual
Term
(in years)		Weighted
Average
Exercise
Price Per Share		Aggregate Intrinsic Value
(in millions) (a)
$0.01 to $35.00
383,527  2.14$22.66  
$35.01 to $50.00
428,000  3.57$37.69  
$50.01 to $65.00
602,156  5.02$52.56  
$65.01 to $80.00
203,014  6.51$67.32  
$80.01 to $95.00
239,017  7.28$93.13  
$95.01 to $110.00
146,286  8.47$99.61  
$110.01 to $125.00
22,211  9.37$119.37  
2,024,211  4.88$54.15  $145.8  
(a) Calculated using the closing stock price on the last trading day of fiscal year 2020 of $126.19, less the option exercise price, multiplied by the number of instruments.
Assumptions Used to Determine Fair Values of Stock Option Grants
The following table presents the assumptions used to determine the fair values of the stock option grants using the Binomial options pricing model during the fiscal years ended June 30, 2020, 2019 and 2018:
Fiscal Year Ended 
 
June 30, 2020		Fiscal Year Ended 
 
June 30, 2019		Fiscal Year Ended 
 
June 30, 2018
Graded Vesting
Risk-free interest rate1.5 %2.5 %2.7 %
Dividend yield1.8 %2.0 %1.6 %
Weighted-average volatility factor23.0 %26.0 %23.8 %
Weighted-average expected life (in years)5.75.96.5
Weighted-average fair value (in dollars)$21.49  $22.12  $22.16  
Fiscal Year Ended 
 
June 30, 2018
Cliff Vesting
Risk-free interest rate2.7 %
Dividend yield1.6 %
Weighted-average volatility factor23.8 %
Weighted-average expected life (in years)6.0
Weighted-average fair value (in dollars)$21.65