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Equity-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Summary of Equity-Based Compensation Expense from Continuing Operations

The following table summarizes the Company’s equity-based compensation expense from continuing operations reported in the Statements of Operations:

 

     For the fiscal years ended June 30,  
     2016      2015      2014  
     (in millions)  

Total Equity compensation expense

    $ 55       $ 53       $ 32   
  

 

 

     

 

 

     

 

 

  

Total intrinsic value of stock options exercised

    $ 3       $ 24       $ 2   
  

 

 

     

 

 

     

 

 

  
Summary of Activity from Continuing and Discontinued Operations Related to Target PSUs and RSUs Settled in Shares

The following table summarizes the activity from continuing and discontinued operations related to the target PSUs and RSUs granted to the Company’s employees which will be settled in shares of the Company (PSUs and RSUs in thousands):

 

     Fiscal 2016      Fiscal 2015      Fiscal 2014  
     Number
of
shares		     Weighted
average
grant-
date fair
value		      Number
of
shares		     Weighted
average
grant-
date fair
value		      Number
of
shares		     Weighted
average
grant-
date fair
value		  

PSUs and RSUs

               

Unvested units at beginning of the year

      8,355      $ 16.77         7,222      $ 13.00         5,557      $ 9.46   

Granted(a)

      3,472        15.51         2,975        17.29         2,924        19.06   

RSUs assumed in acquisition(b)

      —          —           2,491        15.20         —          —     

Vested(c)

      (1,913 )      13.56         (3,131 )      10.19         (24 )      10.70   

Cancelled(d)

      (2,141 )      15.76         (1,202 )      11.36         (1,235 )      11.39   
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Unvested units at the end of the year(e)

      7,773      $ 17.34         8,355      $ 16.77         7,222      $ 13.00   
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

(a)

For fiscal 2016, includes 3.0 million target PSUs and 0.3 million RSUs granted and a payout adjustment of 0.2 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2013 that vested during fiscal 2016.For fiscal 2015, includes 2.3 million target PSUs and 0.5 million RSUs granted and a payout adjustment of 0.2 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2012 that vested during fiscal 2015.

 

 

(b)

Represents RSUs assumed in the Move acquisition. The weighted average grant date fair value for the assumed awards was calculated using the fair value of the awards at the acquisition date.
(c)

The fair value of PSUs and RSUs held by the Company’s employees that vested during the fiscal years ended June 30, 2016, 2015 and 2014 was $26 million, $32 million, and nil, respectively.
(d)

For fiscal 2016, includes 0.8 million of target PSUs and 0.3 million RSUs cancelled and a payout adjustment of 1.0 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2013 that vested during fiscal 2016. For fiscal 2015, includes 0.3 million of target PSUs and 0.3 million RSUs cancelled during fiscal 2015 and a payout adjustment of 0.6 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2012 that vested during fiscal 2015.

 

(e)

The intrinsic value of these unvested RSUs and target PSUs was approximately $89 million as of June 30, 2016.
Summary of Stock Option Transactions

The following table summarizes information about stock option transactions for the employee stock option plans (options in thousands):

 

     Fiscal 2016      Fiscal 2015      Fiscal 2014  
     Options     Weighted
average
exercise
price		      Options     Weighted
average
exercise
price		      Options     Weighted
average
exercise
price		  
           (in US$)            (in US$)            (in US$)  

Outstanding at the beginning of the year

      2,008      $ 8.82         263      $ 6.25         463      $ 5.88   

Options assumed in acquisition(a)

      —          —           4,336        7.46         —          —     

Exercised

      (508 )      7.34         (2,521 )      6.22         (200 )      5.39   

Cancelled

      (262 )      10.75         (70 )      8.37         —          —     
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Outstanding at the end of the year(b)

      1,238      $ 9.03         2,008      $ 8.82         263      $ 6.25   
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Exercisable at the end of the year(c)

      945           1,117           263     

 

(a)

Represents options assumed in the Move acquisition. The weighted average exercise price for the assumed options was calculated using the converted exercise price at the acquisition date. The converted exercise price was calculated using a formula designed to preserve the value of the awards based on the price per share paid in the acquisition.
(b)

The intrinsic value of options outstanding held by the Company’s employees as of June 30, 2016, 2015 and 2014 was $3 million, $12.8 million and $3.1 million, respectively. The weighted average remaining contractual life of options outstanding as of June 30, 2016 was 4.74 years.
(c)

The weighted average remaining contractual life of options exercisable as of June 30, 2016 was 3.94 years.