XML 55 R41.htm IDEA: XBRL DOCUMENT v3.7.0.1
Stock Incentive Plans (Tables)
 12 Months Ended
Jun. 30, 2017
Weighted average assumptions used in fair value of each stock appreciation right award granted
The fair value of each SAR award granted in 2017, 2016 and 2015 was estimated at the date of grant using a Black-Scholes option pricing model with the following weighted-average assumptions:

 
2017

 
2016

 
2015

Risk-free interest rate
1.4
%
 
1.9
%
 
2.0
%
Expected life of award
5.3 yrs

 
5.4 yrs

 
5.4 yrs

Expected dividend yield of stock
2.0
%
 
1.9
%
 
1.8
%
Expected volatility of stock
28.5
%
 
28.7
%
 
32.3
%
Weighted-average fair value
$
27.39

 
$
26.88

 
$
30.50
Stock appreciation rights activity
SAR activity during 2017 is as follows (aggregate intrinsic value in millions):    
 
Number of Shares
 
Weighted-Average Exercise Price
 
Weighted-Average Remaining Contractual Term
 
Aggregate Intrinsic Value
Outstanding June 30, 2016
8,056,448

 
$
84.93

 
 
 
 
Granted
1,065,739

 
$
124.36

 
 
 
 
Exercised
(2,510,398
)
 
$
76.58

 
 
 
 
Canceled
(78,383
)
 
$
117.28

 
 
 
 
Outstanding June 30, 2017
6,533,406

 
$
94.18

 
5.7
 years
 
$
428.8

Exercisable June 30, 2017
4,585,837

 
$
83.62

 
4.5
 years
 
$
349.4
Summary of the status and shares subject to stock appreciation rights awards and average price per share
A summary of the status and changes of shares subject to SAR awards and the related average price per share follows:
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Nonvested June 30, 2016
2,037,896

 
$
29.46

Granted
1,065,739

 
$
27.39

Vested
(1,083,278
)
 
$
30.55

Canceled
(72,788
)
 
$
27.60

Nonvested June 30, 2017
1,947,569

 
$
27.80
Information related to stock appreciation rights awards exercised
Information related to SAR awards exercised during 2017, 2016 and 2015 is as follows:

 
2017

 
2016

 
2015

Net cash proceeds
$
2,202

 
$
126

 
$
3,355

Intrinsic value
153,908

 
40,612

 
72,140

Income tax benefit
31,193

 
7,188

 
17,355
Summary of the status and shares subject to restricted stock units and average price per share
A summary of the status and changes of shares subject to RSU awards and the related average price per share follows:
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Nonvested June 30, 2016
374,168

 
$
111.82

Granted
249,892

 
$
128.30

Vested
(194,844
)
 
$
110.74

Canceled
(34,887
)
 
$
133.12

Nonvested June 30, 2017
394,329

 
$
120.92
Status and changes of shares of long term incentive plans shares
Stock issued for LTIP
 
2017

 
2016

 
2015

LTIP three-year plan
 
2014-15-16

 
2013-14-15

 
2012-13-14

Number of shares issued
 
227,707

 
175,291

 
185,063

Average share value on date of issuance
 
$
157.07

 
$
113.91

 
$
119.06

Total value
 
$
35,766

 
$
19,967

 
$
22,034

A summary of the status and changes of shares relating to the LTIP and the related average price per share follows:    
 
Number of Shares
 
Weighted-Average Grant Date Fair Value
Nonvested June 30, 2016
813,762

 
$
108.37

Granted
248,076

 
$
147.87

Vested
(305,176
)
 
$
114.00

Canceled
(21,918
)
 
$
101.86

Nonvested June 30, 2017
734,744

 
$
119.56