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SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables) | 6 Months Ended
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Dec. 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 December 31, |  | Six Months Ended December 31,
| 2021 |  | 2020 |  | 2021 |  | 2020
Stock options | $ | 4,748 |  |  | $ | 4,575 |  |  | $ | 9,015 |  |  | $ | 7,869 |
Performance Share Units (issued under LTIP) | 3,726 |  |  | 2,555 |  |  | 7,171 |  |  | 5,039 |
Restricted Share Units (issued under LTIP) | 1,930 |  |  | 1,956 |  |  | 4,096 |  |  | 3,958 |
Restricted Share Units (other) | 1,019 |  |  | 3,084 |  |  | 2,747 |  |  | 5,070 |
Deferred Share Units (directors) | 1,324 |  |  | 1,075 |  |  | 2,154 |  |  | 1,813 |
Employee Stock Purchase Plan | 1,662 |  |  | 1,281 |  |  | 3,160 |  |  | 2,513 |
Total share-based compensation expense | $ | 14,409 |  |  | $ | 14,526 |  |  | $ | 28,343 |  |  | $ | 26,262 |
Summary of Option Activity | A summary of activity under our stock option plans for the six months ended December 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, 2021 | 8,113,574 |  |  | $ | 40.16 |  |  | 4.88 |  | $ | 86,297 |
Granted | 1,304,110 |  |  | 52.35 |  |  |  |  |
Exercised | (852,569) |  |  | 34.33 |  |  |  |  |
Forfeited or expired | (352,755) |  |  | 44.41 |  |  |  |  |
Outstanding at December 31, 2021 | 8,212,360 |  |  | $ | 42.52 |  |  | 4.87 |  | $ | 47,275 |
Exercisable at December 31, 2021 | 2,448,802 |  |  | $ | 36.40 |  |  | 3.41 |  | $ | 27,144 |
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,
| 2021 |  | 2020 |  | 2021 |  | 2020
Weighted–average fair value of options granted | $ | 9.73 |  |  | $ | 7.33 |  |  | $ | 9.74 |  |  | $ | 8.38 |
Weighted-average assumptions used: |  |  |  |  |  |  |
Expected volatility | 26.66 | % |  | 26.64 | % |  | 26.63 | % |  | 26.18 | %
Risk–free interest rate | 0.90 | % |  | 0.26 | % |  | 0.64 | % |  | 0.20 | %
Expected dividend yield | 1.63 | % |  | 1.75 | % |  | 1.58 | % |  | 1.54 | %
Expected life (in years) | 4.13 |  | 4.15 |  | 4.15 |  | 4.66
Forfeiture rate (based on historical rates) | 7 | % |  | 7 | % |  | 7 | % |  | 7 | %
Average exercise share price | $ | 51.61 |  |  | $ | 41.44 |  |  | $ | 52.35 |  |  | $ | 45.36 |

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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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