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Share-Based Compensation (Tables)
9 Months Ended
Mar. 31, 2015
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

 

 

Nine Months Ended

 

March 31,

 

 

2015

 

 

 

2014

 

 

 

2015

 

 

 

2014

 

Stock Options and Cash-Based Stock Appreciation Rights

 

$

1,172

 

 

$

1,190

 

 

$

4,387

 

 

$

4,566

 

Restricted Share Awards and Cash-Based Restricted Share Unit Awards

 

 

1,109

 

 

 

930

 

 

 

3,268

 

 

 

3,539

 

Performance Share Awards and Cash-Based Performance Share Unit Awards

 

 

1,331

 

 

 

785

 

 

 

2,321

 

 

 

2,485

 

 

 

$

3,612

 

 

$

2,905

 

 

$

9,976

 

 

$

10,590

 

 

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 March 31, 2015 and 2014, the weighted-average fair value of awards granted under the Plan were $6.17 and $6.63 per award, respectively, and $5.75 and $8.57, respectively, during the nine months ended March 31, 2015 and 2014, using the following assumptions:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

March 31,

 

 

2015

 

 

 

2014

 

 

 

2015

 

 

 

2014

 

Risk-free interest rate

 

 

1.44

%

 

 

1.82

%

 

 

1.69

%

 

 

1.75

%

Expected volatility

 

 

38

%

 

 

46

%

 

 

41

%

 

 

47

%

Expected life of options

 

5.19 years

 

 

5.50 years

 

 

5.95 years

 

 

5.70 years

 

Dividend yield

 

None

 

 

None

 

 

None

 

 

None