XML 58 R45.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Stock-Based Compensation and Incentive Performance Plans (Tables)
 12 Months Ended
Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of All Stock-Based Award Activity

A summary of all stock-based award activity for the last three fiscal years ended June 30 is as follows:

 

 

2024

 

 

2023

 

 

2022

 

 

Number of
Shares
and Units

 

 

Weighted
Average
Grant
Date Fair
Value
(per share)

 

 

Number of
Shares
and Units

 

 

Weighted
Average
Grant
Date Fair
Value
(per share)

 

 

Number of
Shares
and Units

 

 

Weighted
Average
Grant
Date Fair
Value
(per share)

 

Non-vested at beginning of period - RSUs and PSUs

 

 

1,288

 

 

$

26.37

 

 

 

790

 

 

$

42.44

 

 

 

1,780

 

 

$

16.55

 

Granted

 

 

1,768

 

 

$

11.83

 

 

 

1,242

 

 

$

20.34

 

 

 

873

 

 

$

43.55

 

Vested

 

 

(528

)

 

$

27.38

 

 

 

(250

)

 

$

36.23

 

 

 

(1,583

)

 

$

15.61

 

Forfeited

 

 

(363

)

 

$

19.13

 

 

 

(494

)

 

$

31.92

 

 

 

(280

)

 

$

32.98

 

Non-vested at end of period - RSUs and PSUs

 

 

2,165

 

 

$

15.03

 

 

 

1,288

 

 

$

26.37

 

 

 

790

 

 

$

42.44

 
Schedule of Restricted Stock Grant Information

The fair value of RSUs and PSUs granted and of shares vested, and the tax benefit recognized from restricted shares vesting, for the last three fiscal years ended June 30 was as follows:

 

 

Fiscal Year Ended June 30,

 

 

2024

 

 

2023

 

 

2022

 

Fair value of RSUs and PSUs granted

 

$

20,726

 

 

$

25,258

 

 

$

38,005

 

Fair value of RSUs and PSUs vested

 

$

5,545

 

 

$

4,684

 

 

$

71,376

 

Tax benefit recognized from RSUs and PSUs vesting

 

$

673

 

 

$

631

 

 

$

3,658

 

 
Schedule of Average Assumptions Grant date fair values are calculated using a Monte Carlo simulation model with grant date fair values per target share and related valuation assumptions as follows:

 

 

Fiscal Year ended June 30, 2024

 

 

Absolute
TSR PSUs

 

 

Relative
TSR PSUs

 

Grant date fair value (per target share)

 

$

12.23

 

 

$

15.42

 

Risk-free interest rate

 

 

4.98

%

 

 

4.98

%

Expected dividend yield

 

 

—

 

 

 

—

 

Expected volatility

 

 

33.70

%

 

 

23.10

%

Expected term

 

3.00 years

 

 

3.00 years

 
Grant date fair values are calculated using a Monte Carlo simulation model with grant date fair values per target share and related valuation assumptions as follows:

 

 

Fiscal Year ended June 30, 2023

 

 

Absolute
TSR PSUs

 

 

Relative
TSR PSUs

 

Grant date fair value (per target share)

 

$

20.18

 

 

$

27.47

 

Risk-free interest rate

 

 

3.54

%

 

 

3.54

%

Expected dividend yield

 

 

—

 

 

 

—

 

Expected volatility

 

 

40.30

%

 

 

26.60

%

Expected term

 

3.00 years

 

 

3.00 years

 

Grant date fair values are calculated using a Monte Carlo simulation model with weighted average grant date fair values per target share and related valuation assumptions as follows:

 

 

Fiscal Year ended June 30, 2022

 

 

Absolute
TSR PSUs

 

 

Relative
TSR PSUs

 

Grant date fair value (per target share)

 

$

39.00

 

 

$

60.09

 

Risk-free interest rate

 

 

0.89

%

 

 

0.89

%

Expected dividend yield

 

 

—

 

 

 

—

 

Expected volatility

 

 

36.93

%

 

 

24.46

%

Expected term

 

2.99 years

 

 

2.99 years

 

 

The weighted average grant date fair values per target share and related valuation assumptions were as follows:

 

 

Fiscal Year ended June 30,

 

 

2021

 

 

2020

 

Grant date fair value (per target share)

 

$

32.13

 

 

$

10.92

 

Risk-free interest rate

 

 

0.13

%

 

 

1.54

%

Expected dividend yield

 

 

—

 

 

 

—

 

Expected volatility

 

 

40.37

%

 

 

36.28

%

Expected term

 

1.17 years

 

 

1.85 years

 
The grant date fair value per target share and related valuation assumptions used in the Monte Carlo simulation to value this award were as follows:

 

Grant date fair value (per target share)

 

$

21.63

 

Risk-free interest rate

 

 

2.99

%

Expected dividend yield

 

 

—

 

Expected volatility

 

 

35.17

%

Expected term

 

3.00 years

 
Schedule of Compensation Cost and Related Income Tax Benefits Recognized

Compensation cost and related income tax benefits recognized on the consolidated statements of operations for stock-based compensation plans were as follows:

 

 

Fiscal Year Ended June 30,

 

 

2024

 

 

2023

 

 

2022

 

Selling, general and administrative expense

 

$

12,704

 

 

$

14,423

 

 

$

15,611

 

Related income tax benefit

 

$

1,409

 

 

$

1,734

 

 

$

1,574

 
Schedule of Fair Value Assumptions

Grant date fair values were calculated using a Monte-Carlo simulation model with grant date fair values per target share and related valuation assumptions as follows:

 

 

 

Absolute
TSR PSUs

 

 

Relative
TSR PSUs

 

Grant date fair value (per target share)

 

$

13.84

 

 

$

19.54

 

Risk-free interest rate

 

 

4.28

%

 

 

4.28

%

Expected dividend yield

 

 

—

 

 

 

—

 

Expected volatility

 

 

40.70

%

 

 

28.20

%

Expected term

 

3.00 years

 

 

3.00 years