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STOCK PLANS AND STOCK-BASED COMPENSATION (Tables)
12 Months Ended
Jun. 30, 2018
Share Based Compensation Allocation And Classification In Financial Statements [Abstract]  
Components of Stock-Based Compensation Expense and Related Tax Benefits

A summary of the components of stock-based compensation expense recognized during the years ended June 30, 2018, 2017, and 2016, together with the income tax benefits realized, is as follows (in thousands):

 

 

 

Year ended June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

Stock-based compensation included in indirect costs and

   selling expense:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock and RSU expense

 

$

23,628

 

 

$

21,945

 

 

$

17,919

 

Income tax benefit recognized for stock-based compensation

 

$

7,769

 

 

$

7,498

 

 

$

6,476

 

 

Annual Performance-Based Awards Granted

The annual performance-based awards granted for each of the fiscal years presented were as follows:

 

 

 

Performance-based stock awards granted

 

 

Number of additional shares earned under performance-based stock awards

 

Fiscal year 2018

 

 

185,056

 

 

 

 

Fiscal year 2017

 

 

193,420

 

 

 

21,824

 

Fiscal year 2016

 

 

208,160

 

 

 

48,068

 

 

Summary of Activity Related to Restricted Stock and RSUs

 


Changes in the number of unvested restricted stock and RSUs during each of the years in the three-year period ended June 30, 2018, 2017, and 2016, together with the corresponding weighted-average fair values, are as follows:

 

 

 

Restricted Stock and

Restricted Stock Units

 

 

 

Number

of Shares

 

 

Weighted

Average

Grant Date

Fair Value

 

Unvested at June 30, 2015

 

 

864,566

 

 

$

64.79

 

Granted

 

 

275,117

 

 

 

80.72

 

Vested

 

 

(209,448

)

 

 

49.48

 

Forfeited

 

 

(56,381

)

 

 

75.79

 

Unvested at June 30, 2016

 

 

873,854

 

 

$

64.79

 

Granted

 

 

256,853

 

 

 

104.45

 

Vested

 

 

(233,296

)

 

 

65.07

 

Forfeited

 

 

(62,804

)

 

 

93.12

 

Unvested at June 30, 2017

 

 

834,607

 

 

$

71.20

 

Granted

 

 

276,871

 

 

 

146.27

 

Vested

 

 

(394,293

)

 

 

66.29

 

Forfeited

 

 

(53,198

)

 

 

95.03

 

Unvested at June 30, 2018

 

 

663,987

 

 

$

107.96

 

 

Summary of Activity Related to SSARs and Stock Options

Activity for all outstanding SSARs and stock options, and the corresponding exercise price and fair value information, for the year ended June 30, 2016, is as follows: 

 

 

 

Number

of Shares

 

 

Exercise Price

 

 

Weighted

Average

Exercise

Price

 

 

Weighted

Average

Grant Date

Fair Value

 

Outstanding, June 30, 2015

 

 

42,660

 

 

37.67 – 49.36

 

 

 

48.29

 

 

 

17.45

 

Exercisable, June 30, 2015

 

 

42,660

 

 

37.67 – 49.36

 

 

 

48.29

 

 

$

17.45

 

Exercised

 

 

(35,860

)

 

37.67 – 49.36

 

 

 

48.18

 

 

 

17.25

 

Forfeited

 

 

 

 

 

 

 

 

 

 

 

 

Expired

 

 

(6,800

)

 

 

48.83

 

 

 

48.83

 

 

 

18.50

 

Outstanding, June 30, 2016

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable, June 30, 2016

 

 

 

 

 

 

 

$

 

 

$

 

Note:  2017 and 2018 have no outstanding SSARs or stock options.

Additional Information Related to SSARs and Stock Options

Information regarding the cash proceeds received, and the intrinsic value and total tax benefits realized resulting from SSARs and stock option exercises is as follows (in thousands):

 

 

 

Year ended June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

Cash proceeds received

 

$

 

 

$

 

 

$

0

 

Intrinsic value realized

 

$

 

 

$

 

 

$

1,286

 

Income tax benefit realized

 

$

 

 

$

 

 

$

465

 

 

Summary of Activity Related to MSPP

Activity related to the MSPP during the year ended June 30, 2018 is as follows:

 

 

 

MSPP

 

RSUs outstanding, June 30, 2017

 

 

3,167

 

Granted

 

 

1,622

 

Issued

 

 

(463

)

Forfeited

 

 

(388

)

RSUs outstanding, June 30, 2018

 

 

3,938

 

Weighted average grant date fair value as adjusted for the

   applicable discount

 

$

117.13