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Share-Based Compensation (Tables)
6 Months Ended
Dec. 31, 2014
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Share-Based Compensation Expense by Award Type

Share-based compensation expense is allocated approximately 20% to cost of goods sold and 80% to selling, general and administrative expense, based on the employee classification of the grantees. Share-based compensation expense for the periods indicated was as follows ($000):

 

 

 

Three Months Ended

 

 

Six Months Ended

 

December 31,

 

 

2014

 

 

 

2013

 

 

 

2014

 

 

 

2013

 

Stock Options and Cash-Based Stock Appreciation Rights

 

$

1,096

 

 

$

1,416

 

 

$

3,215

 

 

$

3,376

 

Restricted Share Awards and Cash-Based Restricted Share Unit Awards

 

 

1,063

 

 

 

1,095

 

 

 

2,159

 

 

 

2,609

 

Performance Share Awards and Cash-Based Performance Share Unit Awards

 

 

580

 

 

 

738

 

 

 

990

 

 

 

1,700

 

 

 

$

2,739

 

 

$

3,249

 

 

$

6,364

 

 

$

7,685

 

 

Schedule of Fair Value Assumptions under Stock Option Plan

The Company utilizes the Black-Scholes valuation model for estimating the fair value of these awards. During the three months ended December 31, 2014 and 2013, the weighted-average fair value of awards granted under the Plan were $4.85 and $6.40 per award, respectively, and $5.75 and $8.68, respectively, during the six months ended December 31, 2014 and 2013, using the following assumptions:

 

 

Three Months Ended

 

 

Six Months Ended

 

December 31,

 

 

2014

 

 

 

2013

 

 

 

2014

 

 

 

2013

 

Risk-free interest rate

 

 

1.64

%

 

 

1.25

%

 

 

1.71

%

 

 

1.75

%

Expected volatility

 

 

38

%

 

 

46

%

 

 

41

%

 

 

47

%

Expected life of options

 

5.19 years

 

 

4.60 years

 

 

5.96 years

 

 

5.70 years

 

Dividend yield

 

None

 

 

None

 

 

None

 

 

None