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Equity-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2018
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,  
         2018              2017              2016      
     (in millions)  

Total Equity compensation expense

    $     76      $     38      $     55  
  

 

 

     

 

 

     

 

 

  

Total intrinsic value of stock options exercised

    $ 1      $ 2      $ 3  
  

 

 

     

 

 

     

 

 

  
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 that will be settled in shares of the Company (PSUs and RSUs in thousands):

 

     Fiscal 2018      Fiscal 2017      Fiscal 2016  
     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

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

Granted(a)

      3,510       13.47        4,502       14.69        3,472       15.51  

Vested(b)

      (1,467 )      16.70        (2,387 )      18.38        (1,913 )      13.56  

Cancelled(c)

      (1,354 )      16.04        (1,236 )      17.08        (2,141 )      15.76  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Unvested units at the end of the year(d)

      9,341     $ 14.54        8,652     $ 15.57        7,773     $ 17.34  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

 

(a) 

For fiscal 2018, includes 3.2 million target PSUs and 0.3 million RSUs granted.

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.

 

(b)

The fair value of PSUs and RSUs held by the Company’s employees that vested during the fiscal years ended June 30, 2018, 2017 and 2016 was $25 million, $44 million and $26 million, respectively.
(c)

For fiscal 2018, includes 0.6 million of target PSUs and 0.1 million RSUs cancelled and a payout adjustment of 0.7 million PSUs due to the actual performance level achieved for PSUs granted in fiscal 2015 that vested during fiscal 2018.

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.

 

(d)

The intrinsic value of these unvested RSUs and target PSUs was approximately $145 million as of June 30, 2018.
Summary of Stock Option Transactions

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

 

     Fiscal 2018      Fiscal 2017      Fiscal 2016  
     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

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

Exercised

      (189 )      8.04        (354 )      7.78        (508 )      7.34  

Cancelled

      (4 )      9.04        (218 )      15.00        (262 )      10.75  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Outstanding at the end of the year(a)

      473     $ 7.61        666     $ 7.74        1,238     $ 9.03  
  

 

 

    

 

 

     

 

 

    

 

 

     

 

 

    

 

 

  

Exercisable at the end of the year(b)

      470          585          945    

 

(a) 

The intrinsic value of options outstanding held by the Company’s employees as of June 30, 2018, 2017 and 2016 was $3.7 million, $4.0 million and $3.0 million, respectively. The weighted average remaining contractual life of options outstanding as of June 30, 2018 was 4.06 years.
(b)

The weighted average remaining contractual life of options exercisable as of June 30, 2018 was 4.04 years.