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Stock-Based Compensation (Tables)
 6 Months Ended
Dec. 31, 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 the six months ended December 31, 2015 and 2014 were as follows:
 
2015
 
2014
Risk-free interest rate
1.4
%
 
1.5
%
Expected life (years) (3)
4.5

 
4.5

Expected volatility (4)
31.0
%
 
32.5
%
Expected dividend yield
2.0
%
 
1.6
%
(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 the six months ended December 31, 2015 were as follows:
 
Options

 
Weighted
Average
Exercise Price

 
Weighted Average Remaining Life (years)
 
Aggregate
Intrinsic value
(in thousands)

Options outstanding, June 30, 2015
2,094,037

 
$
36.08

 
 
 
 
Granted
742,687

 
30.04

 
 
 
 
Exercised
(38,569
)
 
25.02

 
 
 
 
Lapsed and forfeited
(168,666
)
 
36.79

 
 
 
 
Options outstanding, December 31, 2015
2,629,489

 
$
34.49

 
5.5
 
$
—

Options vested and expected to vest, December 31, 2015
2,537,759

 
$
34.59

 
5.3
 
$
—

Options exercisable, December 31, 2015
1,661,984

 
$
35.35

 
3.2
 
$
—
Changes in time vesting and performance vesting restricted stock units
Changes in our time vesting and performance vesting restricted stock units for the six months ended December 31, 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, 2015
101,245

 
$
43.00

 
689,268

 
$
41.53

Granted
117,589

 
31.60

 
499,162

 
31.06

Vested
—

 
—

 
(276,649
)
 
40.92

Performance metric not achieved
(42,697
)
 
31.60

 
—

 
—

Forfeited
(15,703
)
 
35.93

 
(52,148
)
 
39.02

Unvested performance vesting and time vesting restricted stock units, December 31, 2015
160,434

 
$
35.53

 
859,633

 
$
35.78