| Summary of Incentive Equity Awards |
The activity related to the Company’s incentive equity awards for the fiscal years ended June 30, 2019, 2018 and 2017 consisted of the following: | | | | | | | | | | | | | | | | | | | | | | | | | Stock Options | | Time-based RSUs | | Performance-based RSUs | | | Number of Options | | Weighted Average Exercise Price | | Number of Shares | | Weighted Average Grant-Date Fair Value | | Number of Shares | | Weighted Average Grant-Date Fair Value | Balances at July 1, 2016 | | 7,059,067 |
| | $ | 32.57 |
| | 1,202,896 |
| | $ | 44.34 |
| | 468,516 |
| | $ | 47.15 |
| Granted | | 568,465 |
| | 67.15 |
| | 531,301 |
| | 64.38 |
| | 225,731 |
| | 64.52 |
| Exercised (a) | | (2,384,449 | ) | | 25.44 |
| | — |
| | — |
| | — |
| | — |
| Vesting of RSUs (b) | | — |
| | — |
| | (586,617 | ) | | 40.00 |
| | (171,082 | ) | | 38.50 |
| Expired/forfeited | | (105,442 | ) | | 36.13 |
| | (72,987 | ) | | 53.74 |
| | (52,303 | ) | | 50.38 |
| Balances at June 30, 2017 | | 5,137,641 |
| | $ | 39.63 |
| | 1,074,593 |
| | $ | 55.98 |
| | 470,862 |
| | $ | 58.26 |
| Granted | | 1,079,442 |
| | 93.42 |
| | 456,217 |
| | 78.86 |
| | 198,485 |
| | 76.71 |
| Exercised (a) | | (1,654,877 | ) | | 31.09 |
| | — |
| | — |
| | — |
| | — |
| Vesting of RSUs (b) | | — |
| | — |
| | (463,561 | ) | | 52.86 |
| | (150,068 | ) | | 52.96 |
| Expired/forfeited | | (83,918 | ) | | 42.89 |
| | (84,850 | ) | | 60.18 |
| | (123,590 | ) | | 43.00 |
| Balances at June 30, 2018 | | 4,478,288 |
| | $ | 55.69 |
| | 982,399 |
| | $ | 67.72 |
| | 395,689 |
| | $ | 74.29 |
| Granted | | 528,978 |
| | 98.72 |
| | 360,147 |
| | 121.11 |
| | 133,213 |
| | 116.53 |
| Exercised (a) | | (784,372 | ) | | 39.94 |
| | — |
| | — |
| | — |
| | — |
| Vesting of RSUs (b) | | — |
| | — |
| | (430,270 | ) | | 63.97 |
| | (198,420 | ) | | 64.50 |
| Expired/forfeited | | (21,280 | ) | | 94.14 |
| | (92,977 | ) | | 76.57 |
| | (4,705 | ) | | 80.57 |
| Balances at June 30, 2019 (c) | | 4,201,614 |
| | $ | 63.85 |
| | 819,299 |
| | $ | 92.15 |
| | 325,777 |
| | $ | 97.43 |
|
| | (a) | Stock options exercised during the fiscal years ended June 30, 2019, 2018 and 2017 had intrinsic values of $65.8 million, $116.3 million and $104.7 million, respectively. |
| | (b) | Time-based RSUs that vested during the fiscal years ended June 30, 2019, 2018 and 2017 had a total fair value of $45.4 million, $50.6 million and $39.8 million, respectively. Performance-based RSUs that vested during the fiscal years ended June 30, 2019, 2018 and 2017 had a total fair value of $21.7 million, $19.1 million and $11.6 million, respectively. |
(c) As of June 30, 2019, the Company’s outstanding stock options using the fiscal year-end share price of $127.68 had an aggregate intrinsic value of $268.2 million. As of June 30, 2019, the Company’s outstanding “in the money” vested stock options using the fiscal year-end share price of $127.68 had an aggregate intrinsic value of $195.8 million. As of June 30, 2019, time-based RSUs and performance-based RSUs expected to vest using the fiscal year-end share price of $127.68 (approximately 0.8 million and 0.3 million shares, respectively) had an aggregate intrinsic value of $100.1 million and $39.8 million, respectively.
|
| Summary of Outstanding and Exercisable Stock Options |
The tables below summarize information regarding the Company’s outstanding and exercisable stock options as of June 30, 2019: | | | | | | | | | | | | | | | | | Outstanding Options | | | Options Outstanding | | Weighted
Average
Remaining
Contractual
Term
(in years) | | Weighted
Average
Exercise
Price Per Share | | Aggregate Intrinsic Value (in millions) (a) | Range of Exercise Prices | | $0.01 to $35.00 | | 607,688 |
| | 2.90 | | $ | 23.08 |
| | | $35.01 to $50.00 | | 580,519 |
| | 4.51 | | $ | 37.56 |
| | | $50.01 to $65.00 | | 952,544 |
| | 6.09 | | $ | 52.40 |
| | | $65.01 to $80.00 | | 488,967 |
| | 7.54 | | $ | 67.32 |
| | | $80.01 to $95.00 | | 1,044,179 |
| | 8.52 | | $ | 93.40 |
| | | $95.01 to $110.00 | | 527,717 |
| | 9.59 | | $ | 98.72 |
| | | | | 4,201,614 |
| | 6.62 | | $ | 63.85 |
| | $ | 268.2 |
|
| | | | | | | | | | | | | | | | | Exercisable Options | Range of Exercise Prices | | Options Exercisable | | Weighted
Average
Remaining
Contractual
Term
(in years) | | Weighted
Average
Exercise
Price Per Share | | Aggregate Intrinsic Value (in millions) (a) | $0.01 to $35.00 | | 607,688 |
| | 2.90 | | $ | 23.08 |
| | | $35.01 to $50.00 | | 580,519 |
| | 4.51 | | $ | 37.56 |
| | | $50.01 to $65.00 | | 808,864 |
| | 6.01 | | $ | 52.48 |
| | | $65.01 to $80.00 | | 225,463 |
| | 7.53 | | $ | 67.32 |
| | | $80.01 to $95.00 | | 141,699 |
| | 8.33 | | $ | 92.46 |
| | | $95.01 to $110.00 | | 23,447 |
| | 9.37 | | $ | 107.52 |
| | | | | 2,387,680 |
| | 5.17 | | $ | 45.68 |
| | $ | 195.8 |
|
(a) Calculated using the closing stock price on the last trading day of fiscal year 2019 of $127.68, less the option exercise price, multiplied by the number of instruments.
|