XML 57 R46.htm IDEA: XBRL DOCUMENT
v3.20.4

SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables) | 6 Months Ended
--- | ---
Dec. 31, 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 December 31, |  | Six Months Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
Stock options | $ | 4,575 |  |  | $ | 2,667 |  |  | $ | 7,869 |  |  | $ | 4,677 |
Performance Share Units (issued under LTIP) | 2,555 |  |  | 1,521 |  |  | 5,039 |  |  | 2,921 |
Restricted Share Units (issued under LTIP) | 1,956 |  |  | 1,309 |  |  | 3,958 |  |  | 2,969 |
Restricted Share Units (other) | 3,084 |  |  | 10 |  |  | 5,070 |  |  | 20 |
Deferred Share Units (directors) | 1,075 |  |  | 1,124 |  |  | 1,813 |  |  | 1,875 |
Employee Share Purchase Plan | 1,281 |  |  | 1,152 |  |  | 2,513 |  |  | 2,212 |
Total share-based compensation expense | $ | 14,526 |  |  | $ | 7,783 |  |  | $ | 26,262 |  |  | $ | 14,674 |
Summary of Option Activity | A summary of activity under our stock option plans for the six months ended December 31, 2020 is 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 | 2,865,709 |  |  | 45.47 |  |  |  |  |
Exercised | (523,690) |  |  | 29.59 |  |  |  |  |
Forfeited or expired | (222,260) |  |  | 43.22 |  |  |  |  |
Outstanding at December 31, 2020 | 9,549,296 |  |  | $ | 39.17 |  |  | 5.06 |  | $ | 61,019 |
Exercisable at December 31, 2020 | 2,427,802 |  |  | $ | 32.08 |  |  | 3.00 |  | $ | 32,478 |
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 December 31, |  | Six Months Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
Weighted–average fair value of options granted | $ | 7.33 |  |  | $ | 6.74 |  |  | $ | 8.38 |  |  | $ | 6.49 |
Weighted-average assumptions used: |  |  |  |  |  |  |
Expected volatility | 26.64 | % |  | 22.03 | % |  | 26.18 | % |  | 22.09 | %
Risk–free interest rate | 0.26 | % |  | 1.55 | % |  | 0.20 | % |  | 1.65 | %
Expected dividend yield | 1.75 | % |  | 1.64 | % |  | 1.54 | % |  | 1.67 | %
Expected life (in years) | 4.15 |  | 4.11 |  | 4.66 |  | 4.11
Forfeiture rate (based on historical rates) | 7 | % |  | 7 | % |  | 7 | % |  | 7 | %
Average exercise share price | $ | 41.44 |  |  | $ | 41.13 |  |  | $ | 45.36 |  |  | $ | 39.33 |
For the periods indicated, the weighted-average fair value of performance options and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:
| Three Months Ended December 31, |  | Six Months Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019
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 |  |  | —

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + 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 (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration