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Share-Based Compensation Plans (Tables)
12 Months Ended
Jun. 30, 2014
Share-Based Compensation Expense by Award Type

Share-based compensation expense for the fiscal years ended June 30, 2014, 2013 and 2012 is as follows ($000):

 

 

Year Ended

 

 

Year Ended

 

 

Year Ended

 

 

June 30, 2014

 

 

June 30, 2013

 

 

June 30, 2012

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Options and Cash-Based Stock Appreciation Rights

 

5,818

 

 

$

5,046

 

 

$

6,025

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted Share Awards and Cash-Based Restricted Share

Unit Awards

 

4,868

 

 

 

4,411

 

 

 

2,945

 

 

 

 

 

 

 

 

 

 

 

 

 

Performance Share Awards and Cash-Based Performance Share

Unit Awards

 

2,311

 

 

 

3,200

 

 

 

2,614

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$

12,997

 

 

$

12,657

 

 

$

11,584

 

 

Schedule of Fair Value Assumptions under Stock Option Plan

The Company utilized the Black-Scholes valuation model for estimating the fair value of stock option expense. During the fiscal years ended June 30, 2014, 2013 and 2012, the weighted-average fair value of options granted under the stock option plan was $8.21, $8.37 and $9.32, respectively, per option using the following assumptions:

 

Year Ended June 30,

 

2014

 

 

2013

 

 

2012

 

Risk-free interest rate

 

 

1.71

%

 

 

0.98

%

 

 

1.05

%

Expected volatility

 

 

47

%

 

 

49

%

 

 

59

%

Expected life of options

 

5.56 years

 

 

5.66 years

 

 

5.47 years

 

Dividend yield

 

None

 

 

None

 

 

None

 

 

Stock Option and Cash-Based Stock Appreciation Rights Activity

Stock option and cash-based stock appreciation rights activity during the fiscal year ended June 30, 2014 was as follows:

 

 

Stock Options

 

 

Cash-Based Stock Appreciation Rights

 

 

Number of

 

 

Weighted Average

 

 

Number of

 

 

Weighted Average

 

 

Shares

 

 

Exercise Price

 

 

Rights

 

 

Exercise Price

 

Outstanding - July 1, 2013

 

4,670,011

 

 

$

15.59

 

 

 

60,820

 

 

$

18.78

 

Granted

 

612,180

 

 

$

18.38

 

 

 

58,470

 

 

$

17.88

 

Exercised

 

(438,449

)

 

$

10.22

 

 

 

(460

)

 

$

18.93

 

Forfeited and Expired

 

(139,188

)

 

$

18.51

 

 

 

(10,112

)

 

$

18.94

 

Outstanding - June 30, 2014

 

4,704,554

 

 

$

16.37

 

 

 

108,718

 

 

$

18.28

 

Exercisable - June 30, 2014

 

3,025,156

 

 

$

15.48

 

 

 

10,574

 

 

$

18.79

 

 

Share-Based Compensation Outstanding and Exercisable Options

Outstanding and exercisable stock options at June 30, 2014 were as follows:

 

 

 

Stock Options and Cash-Based Stock

Appreciation Rights Outstanding

 

 

Stock Options and Cash-Based Stock

Appreciation Rights Exercisable

 

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

Weighted

 

 

 

Number of

 

 

Average Remaining

 

 

Average

 

 

Number of

 

 

Average Remaining

 

 

Average

 

Range of

 

Shares or

 

 

Contractual Term

 

 

Exercise

 

 

Shares or

 

 

Contractual Term

 

 

Exercise

 

Exercise Prices

 

Rights

 

 

(Years)

 

 

Price

 

 

Rights

 

 

(Years)

 

 

Price

 

$8.44-$12.80

 

 

1,331,888

 

 

 

3.05

 

 

$

10.70

 

 

 

1,233,668

 

 

 

2.88

 

 

 

10.59

 

$13.17-$20.26

 

 

2,831,846

 

 

 

7.00

 

 

$

17.45

 

 

 

1,196,748

 

 

 

5.44

 

 

 

16.47

 

$20.47-$27.18

 

 

649,538

 

 

 

4.37

 

 

$

23.52

 

 

 

605,314

 

 

 

4.18

 

 

 

23.49

 

 

 

 

4,813,272

 

 

 

5.52

 

 

$

16.42

 

 

 

3,035,730

 

 

 

4.14

 

 

 

15.49

 

 

Restricted Share and Cash-Based Restricted Share Unit Activity

Restricted share and cash-based restricted share unit activity during the fiscal year ended June 30, 2014, was as follows:

 

 

 

Restricted Share Awards

 

 

Cash-Based Restricted Share Units

 

 

 

Number of

 

 

Weighted Average

 

 

Number of

 

 

Weighted Average

 

 

 

Shares

 

 

Grant Date Fair Value

 

 

Units

 

 

Grant Date Fair Value

 

Nonvested - June 30, 2013

 

 

798,624

 

 

$

18.18

 

 

 

30,270

 

 

$

18.78

 

Granted

 

 

223,760

 

 

$

17.26

 

 

 

39,880

 

 

$

17.05

 

Vested

 

 

(195,707

)

 

$

19.19

 

 

 

-

 

 

$

-

 

Forfeited

 

 

(42,642

)

 

$

18.29

 

 

 

(5,840

)

 

$

18.63

 

Nonvested - June 30, 2014

 

 

784,035

 

 

$

17.66

 

 

 

64,310

 

 

$

17.72

 

 

Performance Share and Cash-Based Performance Share Unit Award Activity

Performance share and cash-based performance share unit award activity relating to the plan during the year ended June 30, 2014, was as follows:

 

 

Performance Share Awards

 

 

Cash-Based Performance Share Units

 

 

Number of

 

 

Weighted Average

 

 

Number of

 

 

Weighted Average

 

 

Shares

 

 

Grant Date Fair Value

 

 

Units

 

 

Grant Date Fair Value

 

Nonvested - June 30, 2013

 

359,754

 

 

$

17.85

 

 

 

107,096

 

 

$

18.93

 

Granted

 

105,900

 

 

$

19.37

 

 

 

2,150

 

 

$

19.37

 

Vested

 

(77,656

)

 

$

17.53

 

 

 

-

 

 

$

-

 

Forfeited

 

(55,818

)

 

$

17.56

 

 

 

(10,102

)

 

$

18.93

 

Nonvested - June 30, 2014

 

332,180

 

 

$

18.46

 

 

 

99,144

 

 

$

18.94