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SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables)

12 Months Ended

Jun. 30, 2021

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: 

			Year Ended June 30,
			2021						2020						2019
Stock options			$	15,639					$	9,779					$	10,232
Performance Share Units (issued under LTIP)			9,898						5,997						3,461
Restricted Share Units (issued under LTIP)			7,358						5,943						5,917
Restricted Share Units (other)			10,561						174						175
Deferred Share Units (directors)			3,396						3,345						3,133
Employee Stock Purchase Plan			5,117						4,294						3,852
Total share-based compensation expense			$	51,969					$	29,532					$	26,770

Summary of Stock Options Outstanding Under Various Stock Option Plans

A summary of stock options outstanding under our 2004 Stock Option Plan is set forth below. All numbers shown in the chart below have been adjusted, where applicable, to account for the two-for-one stock splits that occurred on October 22, 2003, February 18, 2014 and January 24, 2017.

			2004 Stock Option Plan
Date of inception			Oct-04
Eligibility			Eligible employees, as determined by the Board of Directors
Options granted to date			38,348,857
Options exercised to date			(20,798,129)
Options cancelled to date			(9,437,154)
Options outstanding			8,113,574
Termination grace periods			Immediately “for cause”; 90 days for any other reason; 180 days due to death
Vesting schedule			25% per year, unless otherwise specified
Exercise price range			$22.68 - $48.74
Expiration dates			8/1/2021 - 5/10/2028

Summary of Information Regarding Stock Options Outstanding

The following table summarizes information regarding stock options outstanding at June 30, 2021:

												Options Outstanding												Options Exercisable
Range of Exercise Prices												Number of options Outstanding as of June 30, 2021			Weighted Average Remaining Contractual Life (years)			Weighted Average Exercise Price						Number of options Exercisable as of June 30, 2021			Weighted Average Exercise Price
$	22.68		—			$	33.06					1,102,966			2.38			$	30.61					943,933			$	30.27
33.07			—			34.60						712,037			3.14			34.16						507,976			34.09
34.61			—			38.30						874,882			4.90			36.72						358,255			36.10
38.31			—			39.02						634,760			5.10			38.76						144,703			38.76
39.03			—			39.98						704,352			4.21			39.34						312,972			39.34
39.99			—			43.22						821,355			5.35			40.74						176,519			40.46
43.23			—			45.40						538,625			5.60			44.99						123,125			44.99
45.41			—			46.88						2,382,097			6.11			45.81						—			—
46.89			—			48.34						200,000			6.86			47.94						—			—
48.35			—			48.74						142,500			6.61			48.74						—			—
$	22.68		—			$	48.74					8,113,574			4.88			$	40.16					2,567,483			$	34.83

Summary of Option Activity

A summary of activity under our stock option plans for the year ended June 30, 2021 and 2020 are as follows:

			Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2020			7,429,537						$	36.18					4.78						$	49,574
Granted			3,208,209						45.77
Exercised			(1,605,134)						30.88
Forfeited or expired			(919,038)						43.75
Outstanding at June 30, 2021			8,113,574						$	40.16					4.88						$	86,297
Exercisable at June 30, 2021			2,567,483						$	34.83					3.47						$	41,005

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:

			Year Ended June 30,
			2021						2020						2019
Weighted–average fair value of options granted			$	8.45					$	6.88					$	8.39
Weighted-average assumptions used:
Expected volatility			26.26		%				22.63		%				25.72		%
Risk–free interest rate			0.24		%				1.30		%				2.57		%
Expected dividend yield			1.55		%				1.64		%				1.54		%
Expected life (in years)			4.59						4.12						4.44
Forfeiture rate (based on historical rates)			7		%				7		%				6		%
Average exercise share price			$	45.76					$	41.81					$	38.81

For the periods in which performance options were granted, as indicated, the weighted-average fair value of performance options and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:

			Year Ended June 30,
			2021
Weighted–average fair value of options granted			$	10.18
Derived service period (in years)			1.80
Weighted-average assumptions used:
Expected volatility			28.00		%
Risk–free interest rate			0.42		%
Expected dividend yield			1.70		%
Average exercise share price			$	45.81

During the year ended June 30, 2021, we granted 750,000 performance options, which are included in the summary of stock option plan activity above. There were no performance options granted during the year ended June 30, 2020 and 2019, respectively.

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