Stock-Based Compensation (Tables)

3 Months Ended

Sep. 30, 2013

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Assumptions used in our Black-Scholes valuation

The assumptions used in our Black-Scholes valuation related to grants made during the three months ended September 30, 2013 and 2012 were as follows:

	2013		2012
Risk-free interest rate	1.3	%	0.6	%
Expected life (years) (1)	4.5		4.5
Expected volatility (2)	40.4	%	49.5	%
Expected dividend yield	1.5	%	1.3	%

(1) Expected life is derived from historical experience.

(2)    Expected volatility is based on the implied historical volatility of our stock.

Changes in stock options

Changes in our stock options for the three months ended September 30, 2013 were as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2013	2,729,068		$	30.40
Granted	342,662		45.24
Exercised	(338,072	)	25.85
Lapsed and forfeited	—		—
Options outstanding, September 30, 2013	2,733,658		$	32.83	6.1	$	34,918
Options vested and expected to vest,   September 30, 2013	2,682,865		$	32.68	6.0	$	34,681
Options exercisable, September 30, 2013	1,860,371		$	29.76	4.8	$	29,466

Restricted Stock Awards

Changes in time vesting and performance vesting restricted stock units

Changes in our time vesting and performance vesting restricted stock units for the three months ended September 30, 2013 were as follows:

	Performance Vesting Stock Units		Performance Vesting Weighted Average Fair Value		Time Vesting Stock Units		Time Vesting Weighted Average Fair Value
Unvested performance vesting and time vesting restricted stock units, June 30, 2013	367,612		$	32.08	815,210		$	34.53
Granted	82,449		45.24		298,345		45.13
Vested	(156,798	)	26.89		(285,562	)	32.22
Performance metric not achieved	(95,907	)	45.24		—		—
Forfeited	—		—		(17,999	)	38.83
Unvested performance vesting and time vesting restricted stock units, September 30, 2013	197,356		$	40.92	809,994		$	39.15