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SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables) | 3 Months Ended
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Sep. 30, 2020
Share-based Payment Arrangement [Abstract] |
Summary of Share-based Compensation Costs | Total share-based compensation expense for the periods indicated below is detailed as follows:
| Three Months Ended September 30,
| 2020 |  | 2019
Stock options | $ | 3,294 |  |  | $ | 2,010 |
Performance Share Units (issued under LTIP) | 2,484 |  |  | 1,400 |
Restricted Share Units (issued under LTIP) | 2,002 |  |  | 1,660 |
Restricted Share Units (other) | 1,986 |  |  | 10 |
Deferred Share Units (directors) | 738 |  |  | 751 |
Employee Share Purchase Plan | 1,232 |  |  | 1,060 |
Total share-based compensation expense | $ | 11,736 |  |  | $ | 6,891 |
Summary of Option Activity | A summary of activity under our stock option plans for the three months ended September 30, 2020 is as follows:
| Options |  | Weighted- Average Exercise Price |  | Weighted- Average Remaining Contractual Term (years) |  | Aggregate Intrinsic Value ($’000s)
Outstanding at June 30, 2020 | 7,429,537 |  |  | $ | 36.18 |  |  | 4.78 |  | $ | 49,574 |
Granted | 2,645,959 |  |  | 45.81 |  |  |  |  |
Exercised | (310,521) |  |  | 27.71 |  |  |  |  |
Forfeited or expired | (69,125) |  |  | 41.22 |  |  |  |  |
Outstanding at September 30, 2020 | 9,695,850 |  |  | $ | 39.04 |  |  | 5.25 |  | $ | 43,382 |
Exercisable at September 30, 2020 | 2,489,132 |  |  | $ | 31.85 |  |  | 3.18 |  | $ | 25,850 |
Schedule of Weighted-Average Fair Value of Options and Weighted-Average Assumptions Used | For the periods indicated, the weighted-average fair value of options and weighted-average assumptions estimated under the Black-Scholes option-pricing model were as follows:
| Three Months Ended September 30,
| 2020 |  | 2019
Weighted–average fair value of options granted | $ | 8.50 |  |  | $ | 6.41 |
Weighted-average assumptions used: |  |  |
Expected volatility | 26.12 | % |  | 22.11 | %
Risk–free interest rate | 0.20 | % |  | 1.68 | %
Expected dividend yield | 1.52 | % |  | 1.68 | %
Expected life (in years) | 4.72 |  | 4.11
Forfeiture rate (based on historical rates) | 7 | % |  | 7 | %
Average exercise share price | $ | 45.81 |  |  | $ | 38.76 |
For the periods indicated, the weighted-average fair value of performance options and weighted-average assumptions estimated under the Monte Carlo valuation method were as follows:
| Three Months Ended September 30,
| 2020 |  | 2019
Weighted–average fair value of options granted | $ | 10.18 |  |  | N/A
Derived service period (in years) | 1.80 |  | N/A
Weighted-average assumptions used: |  |  |
Expected volatility | 28.00 | % |  | N/A
Risk–free interest rate | 0.42 | % |  | N/A
Expected dividend yield | 1.70 | % |  | N/A
Average exercise share price | $ | 45.81 |  |  | N/A

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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