Stock-Based Compensation (Tables)

6 Months Ended

Dec. 31, 2016

The assumptions used in our Black-Scholes valuation related to grants made during the six months ended December 31, 2015 were as follows:

(2) Expected life is derived from historical experience.

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

Changes in our stock options for the six months ended December 31, 2016 were as follows:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2016	2,547,809		$	33.72
Granted	—		—
Exercised	(111,683	)	27.34
Lapsed or forfeited	(169,129	)	30.51
Options outstanding, December 31, 2016	2,266,997		$	34.27	4.3	$	4,445
Options vested and expected to vest, December 31, 2016	2,243,491		$	34.32	4.3	$	4,369
Options exercisable, December 31, 2016	1,747,101		$	35.96	3.0	$	2,153

Changes in our time vesting and performance vesting restricted stock units for the six months ended December 31, 2016 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, 2016	115,467		$	36.96	1,014,744		$	31.97
Granted	235,241		26.35		586,662		25.01
Vested	(16,084	)	45.24		(300,888	)	36.11
Performance metric not achieved	(35,980	)	26.35		—		—
Forfeited	(17,354	)	35.31		(49,727	)	27.20
Unvested performance vesting and time vesting restricted stock units, December 31, 2016	281,290		$	27.69	1,250,791		$	27.89