Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2015

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 2015, 2014 and 2013 were as follows:

	2015		2014		2013
Risk-free interest rate	1.5	%	1.3	%	0.6	%
Expected life (years) (3)	4.5		4.5		4.5
Expected volatility (4)	32.5	%	40.3	%	49.5	%
Expected dividend yield	1.7	%	1.7	%	1.5	%

(3) Expected life is derived from historical experience.

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

Changes in stock options

Changes in our stock options for 2015 were as follows:

	Options		Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2014	2,264,824		$	33.95
Granted	436,541		40.81
Exercised	(416,534	)	27.18
Lapsed and forfeited	(190,794	)	41.08
Options outstanding, June 30, 2015	2,094,037		$	36.08	4.4	$	4,720
Options vested and expected to vest, June 30, 2015	2,062,054		$	36.02	4.4	$	4,720
Options exercisable, June 30, 2015	1,615,372		$	34.65	3.2	$	4,720

Changes in time vesting and performance vesting restricted stock units

Changes in our time vesting and performance vesting restricted stock units for 2015 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, 2014	197,356		$	40.92	743,326		$	39.20
Granted	88,536		43.16		455,296		42.00
Vested	(28,022	)	38.95		(385,321	)	37.42
Performance metric not achieved	(65,373	)	43.16		—		—
Forfeited	(91,252	)	42.96		(124,033	)	42.20
Unvested performance vesting and time vesting restricted stock units, June 30, 2015	101,245		$	43.00	689,268		$	41.53