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

3 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Share-based Compensation Costs

Share-based compensation expense for the periods indicated below is detailed as follows: 

			Three Months Ended September 30,
			2022						2021
Stock Options (issued under Stock Option Plans)			$	3,585					$	4,267
Performance Share Units (issued under LTIP)			4,235						3,445
Restricted Share Units (issued under LTIP)			2,175						2,166
Restricted Share Units (other)			10,637						1,728
Deferred Share Units (directors)			961						830
Employee Stock Purchase Plan			1,615						1,498
Total share-based compensation expense			$	23,208					$	13,934

Schedule of Unrecognized Compensation Cost

A summary of unrecognized compensation cost for unvested shared-based payment awards is as follows: 

			As of September 30, 2022
			Unrecognized Compensation Cost						Weighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)			49,204.7						2.6
Performance Share Units (issued under LTIP)			45,389.4						2.5
Restricted Share Units (issued under LTIP)			23,596.2						1.8
Restricted Share Units (other)			76,748.6						1.9
Total unrecognized share-based compensation cost			$	194,938.9

Summary of Option Activity

A summary of activity under our stock option plans for the three months ended September 30, 2022 is as follows:

			Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2022			8,820,662						$	42.74					4.68						$	7,111
Granted			1,872,400						35.24
Exercised			(72,080)						27.66
Forfeited or expired			(505,374)						44.34
Outstanding at September 30, 2022			10,115,608						$	41.38					4.87						$	—
Exercisable at September 30, 2022			3,651,940						$	39.07					3.30						$	—

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 September 30,
			2022						2021
Weighted–average fair value of options granted			$	8.16					$	9.75
Weighted-average assumptions used:
Expected volatility			27.46		%				26.62		%
Risk–free interest rate			2.86		%				0.55		%
Expected dividend yield			2.32		%				1.56		%
Expected life (in years)			4.18						4.16
Forfeiture rate (based on historical rates)			7		%				7		%
Average exercise share price			$	39.09					$	52.62

Schedule of Weighted Average Assumptions, Fair Value and Intrinsic Value

For the period in which performance options were granted, 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 September 30,
			2022
Weighted–average fair value of options granted			$	8.09
Derived service period (in years)			1.7
Weighted-average assumptions used:
Expected volatility			26.00		%
Risk–free interest rate			3.21		%
Expected dividend yield			2.00		%
Average exercise share price			$	31.89

For the periods indicated, the weighted-average fair value of PSUs issued under LTIP, and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:

			Three Months Ended September 30,
			2022						2021
Weighted–average fair value of performance share units granted			$	55.06					$	75.15
Weighted-average assumptions used:
Expected volatility			29.00		%				28.00		%
Risk–free interest rate			3.13		%				0.45		%
Expected dividend yield			—		%				1.70		%
Expected life (in years)			3.11						3.10
Forfeiture rate (based on historical rates)			7		%				7		%

Summary of Non Option Award Activity

A summary of activity under our performance share units issued under the LTIP for the three months ended September 30, 2022 is as follows:

			Units						Weighted-Average Grant Date Fair Value						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2022			812,937						$	61.29					1.89						$	30,762
Granted (1)			526,865						54.70
Vested			—						—
Forfeited or expired			(58,350)						67.10
Outstanding at September 30, 2022			1,281,452						$	58.37					2.12						$	33,882

__________________________

(1)PSUs are earned based on market conditions and the actual number of PSUs earned, if any, is dependent upon performance and may range from 0 to 200 percent.

Summary of Restricted Stock Activity

A summary of activity under our RSUs issued under the LTIP for the three months ended September 30, 2022 is as follows:

			Units						Weighted-Average Grant Date Fair Value						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2022			611,743						$	44.14					1.62						$	23,148
Granted			394,584						38.97
Vested			—						—
Forfeited or expired			(45,030)						45.85
Outstanding at September 30, 2022			961,297						$	41.94					2.07						$	25,417

A summary of activity under our RSUs (other) issued for the three months ended September 30, 2022 is as follows:

			Units						Weighted-Average Grant Date Fair Value						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2022			2,593,707						$	44.90					2.86						$	98,146
Granted			—						—
Vested			(120,406)						37.83
Forfeited or expired			(88,587)						44.84
Outstanding at September 30, 2022			2,384,714						$	44.86					2.68						$	63,052

Schedule of Nonvested Share Activity

A summary of activity under our deferred share units issued for the three months ended September 30, 2022 is as follows:

			Units						Weighted-Average Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2022 (1)			885,701						$	31.49					0.36						$	33,515
Granted			13,747						32.41
Outstanding at September 30, 2022 (1)			899,448						$	31.50					0.10						$	21,934

______________________

(1)    Includes 55,520 unvested DSUs.

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