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

9 Months Ended

Mar. 31, 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: 

			Three Months Ended March 31,												Nine Months Ended March 31,
			2021						2020						2021						2020
Stock options			$	3,460					$	2,143					$	11,329					$	6,820
Performance Share Units (issued under LTIP)			2,447						1,515						7,486						4,436
Restricted Share Units (issued under LTIP)			1,697						1,478						5,655						4,447
Restricted Share Units (other)			2,807						64						7,877						84
Deferred Share Units (directors)			813						735						2,626						2,610
Employee Share Purchase Plan			1,133						921						3,646						3,133
Total share-based compensation expense			$	12,357					$	6,856					$	38,619					$	21,530

Summary of Option Activity

A summary of activity under our stock option plans for the nine months ended March 31, 2021 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			3,008,209						45.63
Exercised			(742,636)						32.01
Forfeited or expired			(722,356)						43.88
Outstanding at March 31, 2021			8,972,754						$	39.07					4.80						$	77,638
Exercisable at March 31, 2021			2,834,679						$	32.97					3.00						$	41,789

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 March 31,												Nine Months Ended March 31,
			2021						2020						2021						2020
Weighted–average fair value of options granted			$	8.86					$	7.28					$	8.41					$	6.95
Weighted-average assumptions used:
Expected volatility			26.59		%				21.80		%				26.20		%				21.92		%
Risk–free interest rate			0.32		%				1.38		%				0.21		%				1.49		%
Expected dividend yield			1.54		%				1.55		%				1.54		%				1.60		%
Expected life (in years)			4.14						4.14						4.63						4.13
Forfeiture rate (based on historical rates)			7		%				7		%				7		%				7		%
Average exercise share price			$	48.74					$	44.99					$	45.57					$	42.57

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:

			Nine Months Ended March 31,
			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

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Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

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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.

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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.

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