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Share - Based Compensation (Tables) | 12 Months Ended
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Jun. 30, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Schedule of share based compensation expense | Following approval by the Company's shareholders in October 2019, the 2019 Long-Term Performance Plan (the "2019 Plan") replaced the 2015 Long-Term Performance Plan. The 2019 Plan, which expires in 2024, provides for granting of SARs, stock options, stock awards, cash awards, and such other awards or combination thereof as the Executive Organization and Compensation Committee or, in the case of director awards, the Corporate Governance & Sustainability Committee of the Board of Directors (together referred to as the Committee) may determine to officers, other key employees and members of the Board of Directors. Grants are generally made at regularly scheduled committee meetings. Compensation costs charged to expense under award programs paid (or to be paid) with shares (including SARs, performance shares, restricted stock, and RSUs) are summarized in the table below:
Year Ended June 30, | 2023 |  | 2022 |  | 2021
SARs | $ | 2,785 |  |  | $ | 3,284 |  |  | $ | 2,526 |
Performance shares | 5,302 |  |  | 4,549 |  |  | 2,494 |
Restricted stock and RSUs | 4,274 |  |  | 4,009 |  |  | 3,960 |
Total compensation costs under award programs | $ | 12,361 |  |  | $ | 11,842 |  |  | $ | 8,980 |
Schedule of Unrecognized Compensation Cost, Nonvested Awards [Table Text Block] | The aggregate unrecognized compensation cost for share-based award programs with the potential to be paid at June 30, 2023 is summarized in the table below:
June 30, | 2023 |  | Average Expected Period of Expected Recognition (Years)
SARs | $ | 3,267 |  |  | 2.7
Performance shares | 5,694 |  |  | 1.7
Restricted stock and RSUs | 4,036 |  |  | 1.8
Total unrecognized compensation costs under award programs | $ | 12,997 |  |  | 2.0
Weighted-average assumptions used for SARs and stock option grants issued | The weighted-average assumptions used for SARs grants issued in fiscal 2023, 2022 and 2021 are:
| 2023 |  | 2022 |  | 2021
Expected life, in years | 6.2 |  | 6.4 |  | 7.0
Risk free interest rate | 2.9 | % |  | 1.0 | % |  | 0.5 | %
Dividend yield | 1.3 | % |  | 1.5 | % |  | 1.9 | %
Volatility | 35.5 | % |  | 34.3 | % |  | 32.0 | %
Per share fair value of SARs granted during the year | $35.98 |  | $26.18 |  | $17.97
Summary of SARs and stock option activity | A summary of SARs and stock options activity is presented below:
| Shares |  | Weighted-Average Exercise Price
Year Ended June 30, 2023 |
(Shares in thousands) |
Outstanding, beginning of year | 965 |  |  | $ | 61.85 |
Granted | 112 |  |  | 104.33 |
Exercised | (257) |  |  | 53.84 |
Forfeited | (4) |  |  | 77.65 |
Outstanding, end of year | 816 |  |  | $ | 70.11 |
Exercisable at end of year | 537 |  |  | $ | 62.64 |
Expected to vest at end of year | 810 |  |  | $ | 69.90 |
Schedule of Nonvested Performance-Based Units Activity | A summary of non-vested performance shares activity at June 30, 2023 is presented below:
| Shares |  | Weighted-Average Grant-Date Fair Value
Year Ended June 30, 2023 |
(Shares in thousands) |
Non-vested, beginning of year | 131 |  |  | $ | 58.27 |
Awarded | 73 |  |  | 74.10 |
Forfeitures | (2) |  |  | 62.43 |
Vested | (43) |  |  | 53.63 |
Non-vested, end of year | 159 |  |  | $ | 96.37 |
Schedule of Nonvested Restricted Stock Units Activity | A summary of the status of the Company’s non-vested restricted stock and RSUs at June 30, 2023 is presented below:
| Shares |  | Weighted-Average Grant-Date Fair Value
Year Ended June 30, 2023 |
(Share amounts in thousands) |
Non-vested, beginning of year | 177 |  |  | $ | 69.23 |
Granted | 37 |  |  | 108.60 |
Forfeitures | (5) |  |  | 76.91 |
Vested | (66) |  |  | 60.02 |
Non-vested, end of year | 143 |  |  | $ | 83.35 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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- Definition Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (i) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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