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SHARE CAPITAL, OPTION PLANS AND SHARE-BASED PAYMENTS (Tables) | 9 Months Ended
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Mar. 31, 2022
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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Stock options | $ | 3,442 |  |  | $ | 3,460 |  |  | $ | 12,457 |  |  | $ | 11,329 |
Performance Share Units (issued under LTIP) | 2,980 |  |  | 2,447 |  |  | 10,151 |  |  | 7,486 |
Restricted Share Units (issued under LTIP) | 1,694 |  |  | 1,697 |  |  | 5,790 |  |  | 5,655 |
Restricted Share Units (other) | 6,482 |  |  | 2,807 |  |  | 9,229 |  |  | 7,877 |
Deferred Share Units (directors) | 915 |  |  | 813 |  |  | 3,069 |  |  | 2,626 |
Employee Stock Purchase Plan | 1,235 |  |  | 1,133 |  |  | 4,395 |  |  | 3,646 |
Total share-based compensation expense | $ | 16,748 |  |  | $ | 12,357 |  |  | $ | 45,091 |  |  | $ | 38,619 |
Summary of Option Activity | A summary of activity under our stock option plans for the nine months ended March 31, 2022 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 | 2,427,510 |  |  | 48.69 |  |  |  |  |
Exercised | (904,645) |  |  | 34.41 |  |  |  |  |
Forfeited or expired | (626,854) |  |  | 44.60 |  |  |  |  |
Outstanding at March 31, 2022 | 9,009,585 |  |  | $ | 42.73 |  |  | 4.88 |  | $ | 21,827 |
Exercisable at March 31, 2022 | 2,580,100 |  |  | $ | 36.87 |  |  | 3.27 |  | $ | 15,360 |
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,
| 2022 |  | 2021 |  | 2022 |  | 2021
Weighted–average fair value of options granted | $ | 8.31 |  |  | $ | 8.86 |  |  | $ | 9.08 |  |  | $ | 8.41 |
Weighted-average assumptions used: |  |  |  |  |  |  |
Expected volatility | 26.06 | % |  | 26.59 | % |  | 26.37 | % |  | 26.20 | %
Risk–free interest rate | 1.54 | % |  | 0.32 | % |  | 1.06 | % |  | 0.21 | %
Expected dividend yield | 1.94 | % |  | 1.54 | % |  | 1.75 | % |  | 1.54 | %
Expected life (in years) | 4.14 |  | 4.14 |  | 4.15 |  | 4.63
Forfeiture rate (based on historical rates) | 7 | % |  | 7 | % |  | 7 | % |  | 7 | %
Average exercise share price | $ | 44.45 |  |  | $ | 48.74 |  |  | $ | 48.69 |  |  | $ | 45.57 |

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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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