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Share-Based Compensation (Tables)
12 Months Ended
Jun. 30, 2018
Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Options Outstanding

A summary of option activity is as follows for the fiscal years ended June 30:

 

 

 

2018

 

 

2017

 

 

2016

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

Number

 

 

average

 

 

Number

 

 

average

 

 

Number

 

 

average

 

 

 

of

 

 

exercise

 

 

of

 

 

exercise

 

 

of

 

 

exercise

 

 

 

shares

 

 

price

 

 

shares

 

 

price

 

 

shares

 

 

price

 

Options outstanding at beginning of year

 

 

8.0

 

 

$

-

 

 

 

8.2

 

 

$

24.52

 

 

 

12.5

 

 

$

23.49

 

Options granted

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

$

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options exercised

 

 

(1.6

)

 

$

25.34

 

 

 

(0.1

)

 

$

14.81

 

 

 

(4.3

)

 

$

21.51

 

Options canceled or expired

 

 

(0.1

)

 

$

26.00

 

 

 

(0.1

)

 

$

26.55

 

 

 

 

 

$

 

Options outstanding at end of year

 

 

6.3

 

 

$

24.50

 

 

 

8.0

 

 

$

24.67

 

 

 

8.2

 

 

$

24.52

 

Options exercisable at end of year

 

 

6.3

 

 

$

24.50

 

 

 

7.5

 

 

$

24.55

 

 

 

6.7

 

 

$

24.04

 

Options vested and expected to vest

 

 

6.3

 

 

$

24.50

 

 

 

8.0

 

 

$

24.67

 

 

 

8.2

 

 

$

24.52

 

Weighted average fair value of options granted during the year

 

 

 

 

$

 

 

 

 

 

$

 

 

 

 

 

$

 

 

Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Options Outstanding and Option Exercisable

The following table summarizes information about stock options outstanding at June 30, 2018:

 

 

 

Options outstanding

 

 

Options exercisable

 

 

 

Number

 

 

Weighted

 

 

 

 

 

 

Number

 

 

 

 

 

 

 

outstanding

 

 

average

 

 

Weighted

 

 

exercisable

 

 

Weighted

 

Range of

 

at

 

 

remaining

 

 

average

 

 

at

 

 

average

 

exercise

 

June 30,

 

 

contractual

 

 

exercise

 

 

June 30,

 

 

exercise

 

prices

 

2018

 

 

life (years)

 

 

price

 

 

2018

 

 

price

 

14.88 - 19.47

 

 

1.6

 

 

 

2.87

 

 

$

18.50

 

 

 

1.6

 

 

$

18.50

 

21.29 - 26.02

 

 

1.0

 

 

 

2.59

 

 

 

23.55

 

 

 

1.0

 

 

 

23.55

 

26.49 - 26.49

 

 

1.6

 

 

 

3.22

 

 

 

26.49

 

 

 

1.6

 

 

 

26.49

 

27.07 - 37.73

 

 

2.1

 

 

 

3.40

 

 

 

27.94

 

 

 

2.1

 

 

 

27.94

 

 

 

 

6.3

 

 

 

3.09

 

 

$

24.50

 

 

 

6.3

 

 

$

24.50

 

 

Schedule of Share-Based Compensation Arrangement by Share Based Payment Award Restricted Stock Units Outstanding

A summary of RSU activity is as follows:

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

Weighted

 

 

 

Number

 

 

average

 

 

Number

 

 

average

 

 

 

of

 

 

grant date

 

 

of

 

 

grant date

 

 

 

shares

 

 

fair value

 

 

shares

 

 

fair value

 

RSUs outstanding at the beginning of year

 

 

2.0

 

 

$

33.02

 

 

 

1.4

 

 

$

38.76

 

RSUs granted

 

 

1.1

 

 

 

32.67

 

 

 

1.1

 

 

 

21.47

 

Less:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

RSUs released

 

 

(0.7

)

 

 

30.33

 

 

 

(0.4

)

 

 

22.20

 

RSUs canceled

 

 

(0.2

)

 

 

28.46

 

 

 

(0.1

)

 

 

33.00

 

RSUs outstanding at end of year

 

 

2.2

 

 

$

31.16

 

 

 

2.0

 

 

$

33.02

 

 

Schedule of Share-Based Compensation Recognized in Consolidated Statements of Operations

Share-based compensation expense recognized and included in the consolidated statements of operations for the fiscal years ended June 30, 2018, 2017 and 2016 were as follows:

 

 

 

Years Ended June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

Cost of molecular diagnostic testing

 

$

0.7

 

 

$

0.9

 

 

$

0.9

 

Cost of pharmaceutical and clinical services

 

 

0.2

 

 

 

0.3

 

 

 

0.4

 

Research and development expense

 

 

4.3

 

 

 

5.8

 

 

 

5.4

 

Selling, general, and administrative expense

 

 

21.9

 

 

 

22.9

 

 

 

24.9

 

Total share-based compensation expense

 

$

27.1

 

 

$

29.9

 

 

$

31.6

 

 

Schedule of Unrecognized Share-Based Compensation Cost

The Company has unrecognized share-based compensation cost related to share-based compensation granted under its current plans.  The estimated unrecognized share-based compensation cost and related weighted average recognition period, aggregate intrinsic value of options outstanding, aggregate intrinsic value of options that are fully vested and aggregate intrinsic value of RSUs vested and expected to vest is as follows:

 

 

 

As of

 

 

 

June 30, 2018

 

Unrecognized share-based compensation cost

 

$

34.5

 

Aggregate intrinsic value of options outstanding

 

$

81.6

 

Aggregate intrinsic value of options fully vested

 

$

81.6

 

Aggregate intrinsic value of RSUs outstanding

 

$

83.0

 

 

Schedule of Intrinsic Value of Options Exercised

The total intrinsic value of options exercised during 2018, 2017 and 2016 was as follows:

 

 

 

Years Ended June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

Total intrinsic value of options exercised

 

$

17.0

 

 

$

0.9

 

 

$

86.1

 

 

Schedule of Shares Purchased and Compensation Expenses

Shares purchased under and compensation expense associated with the 2012 Plan for the years reported are as follows:

 

 

 

Years Ended June 30,

 

 

 

2018

 

 

2017

 

 

2016

 

Shares purchased under the plans

 

 

0.1

 

 

 

0.5

 

 

 

0.2

 

Plan compensation expense

 

$

0.1

 

 

$

2.3

 

 

$

1.9

 

 

Employee Stock Purchase Plan [Member]  
Schedule of Fair Value of Stock Option Grant Weighted-Average Assumptions

The fair value of shares issued under the Plan that was in effect for each period reported was calculated using the Black‑Scholes option-pricing model using the following weighted-average assumptions:

 

 

 

2018

 

 

2017

 

 

2016

 

Risk-free interest rate

 

2.1%

 

 

0.6%

 

 

0.4%

 

Expected dividend yield

 

0%

 

 

 

0%

 

 

 

0%

 

Expected life (in years)

 

 

0.5

 

 

 

0.5

 

 

 

0.5

 

Expected volatility

 

45%

 

 

72%

 

 

31%