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Equity-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2017
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,  
     2017      2016      2015  
     (in millions)  

Total Equity compensation expense

    $ 38      $ 55      $ 53  
  

 

 

     

 

 

     

 

 

  

Total intrinsic value of stock options exercised

    $ 2      $ 3      $ 24  
  

 

 

     

 

 

     

 

 

  
Summary of Stock Option Transactions

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 2017      Fiscal 2016      Fiscal 2015  
     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		  
           (in US$)            (in US$)            (in US$)  

PSUs and RSUs

               

Unvested units at beginning of the year

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

Granted(a)

      4,502       14.69        3,472       15.51        2,975       17.29  

RSUs assumed in acquisition(b)

      —         —          —         —          2,491       15.20  

Vested(c)

      (2,387 )      18.38        (1,913 )      13.56        (3,131 )      10.19  

Cancelled(d)

      (1,236 )      17.08        (2,141 )      15.76        (1,202 )      11.36  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Unvested units at the end of the year(e)

      8,652     $ 15.57        7,773     $ 17.34        8,355     $ 16.77  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

(a) 

For fiscal 2017, includes 4.1 million target PSUs and 0.4 million RSUs granted.

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, 2017, 2016 and 2015 was $44 million, $26 million and $32 million, respectively.
(d) 

For fiscal 2017, includes 0.7 million of target PSUs and 0.1 million RSUs cancelled and a payout adjustment of 0.4 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2014 that vested during fiscal 2017.

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 $119 million as of June 30, 2017.
Summary of Activity from Continuing and Discontinued Operations Related to Target PSUs and RSUs Settled in Shares

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

 

     Fiscal 2017      Fiscal 2016      Fiscal 2015  
     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

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

Options assumed in acquisition(a)

      —         —          —         —          4,336       7.46  

Exercised

      (354 )      7.78        (508 )      7.34        (2,521 )      6.22  

Cancelled

      (218 )      15.00        (262 )      10.75        (70 )      8.37  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Outstanding at the end of the year(b)

      666     $ 7.74        1,238     $ 9.03        2,008     $ 8.82  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Exercisable at the end of the year(c)

      585          945          1,117    

 

(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, 2017, 2016 and 2015 was $4.0 million, $3.0 million and $12.8 million, respectively. The weighted average remaining contractual life of options outstanding as of June 30, 2017 was 5.26 years.
(c) 

The weighted average remaining contractual life of options exercisable as of June 30, 2017 was 5.05 years.