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Subsequent Event | 12 Months Ended
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Jun. 30, 2016
Subsequent Events [Abstract] |
Subsequent Events | SUBSEQUENT EVENTS Internal Reorganization In July 2016, we implemented a reorganization of our subsidiaries worldwide with the view to continuing to enhance operational and administrative efficiencies through further consolidated ownership, management, and development of our intellectual property (IP) in Canada, continuing to reduce the number of entities in our group and working towards our objective of having a single operating legal entity in each jurisdiction. We believe our reorganization also reduces our exposure to global political and tax uncertainties, particularly in Europe. We believe that further consolidating our IP in Canada will continue to ensure appropriate legal protections for our consolidated IP, simplify legal, accounting and tax compliance, and improve our global cash management. A material tax benefit, currently expected to be several hundred million dollars, associated with the recognition of a net deferred tax asset is expected to be realized upon the completion of the IP reorganization in the first quarter of Fiscal 2017. This is anticipated to have a material impact of reducing our tax provision in Fiscal 2017 as well as our consolidated income tax rate in Fiscal 2017. Cash Dividends As part of our quarterly, non-cumulative cash dividend program, we declared, on July 26, 2016, a dividend of $0.23 per Common Share. The record date for this dividend is August 26, 2016 and the payment date is September 16, 2016. Future declarations of dividends and the establishment of future record and payment dates are subject to the final determination and discretion of our Board of Directors. Acquisition of Recommind Inc. On July 20, 2016, we closed our previously announced acquisition of Recommind Inc. (Recommind), a leading provider of eDiscovery and information analytics, by acquiring all of its equity interests for approximately $170 million. Recommind's SaaS and managed services solutions deliver insight from unstructured data to help people make better, faster business decisions. The financial results of Recommind will be consolidated from the closing date in our financial statements for the first quarter of Fiscal 2017. Share Repurchase Plan On July 26, 2016, our Board of Directors authorized a new share repurchase plan for the repurchase of up to $200 million of our Common Shares, pursuant to a normal course issuer bid.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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