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

12 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Costs

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

			Year Ended June 30,
			2023						2022						2021
Stock options			$	20,144					$	17,091					$	15,639
Performance Share Units (issued under LTIP)			18,631						13,844						9,898
Restricted Share Units (issued under LTIP)			9,762						7,799						7,358
Restricted Share Units (other)			72,149						20,859						10,561
Deferred Share Units (directors)			4,036						3,993						3,396
Employee Stock Purchase Plan			5,580						5,970						5,117
Total share-based compensation expense			$	130,302					$	69,556					$	51,969

Schedule of Unrecognized Compensation Cost

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

			As of June 30, 2023
			Unrecognized Compensation Cost						Weighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)			$	47,731					2.5
Performance Share Units (issued under LTIP)			27,797						1.8
Restricted Share Units (issued under LTIP)			14,038						1.9
Restricted Share Units (other)			108,956						1.5
Total unrecognized share-based compensation cost			$	198,522

Schedule of Share-based Compensation, Stock Options, Outstanding Under Various Plans

A summary of stock options outstanding under our 2004 Stock Option Plan is set forth below.

			2004 Stock Option Plan
Date of inception			Oct-04
Eligibility			Eligible employees, as determined by the Board of Directors
Options granted to date			45,866,567
Options exercised to date			(21,993,009)
Options cancelled to date			(11,654,119)
Options outstanding			12,219,439
Options available for issuance			5,950,832
Termination grace periods			Immediately “for cause”; 90 days for any other reason; 180 days due to death
Vesting schedule			25% per year, unless otherwise specified
Exercise price range			$26.81 - $52.62
Expiration dates			7/29/2023 - 5/08/2030

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:

			Year Ended June 30,
			2023						2022						2021
Weighted–average fair value of options granted			$	6.75					$	9.02					$	8.45
Weighted-average assumptions used:
Expected volatility			28.73		%				26.39		%				26.26		%
Risk–free interest rate			3.98		%				1.15		%				0.24		%
Expected dividend yield			3.07		%				1.78		%				1.55		%
Expected life (in years)			4.20						4.15						4.59
Forfeiture rate (based on historical rates)			7		%				7		%				7		%
Average exercise share price			$	31.13					$	48.20					$	45.76

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:

			Year Ended June 30,
			2023						2022						2021
Weighted–average fair value of options granted			$	8.09					$	—					$	10.18
Derived service period (in years)			1.70						0.00						1.80
Weighted-average assumptions used:
Expected volatility			26.00		%				—		%				28.00		%
Risk–free interest rate			3.21		%				—		%				0.42		%
Expected dividend yield			2.00		%				—		%				1.70		%
Average exercise share price			$	31.89					$	—					$	45.81

Schedule of Non Option Award Activity

A summary of activity under our performance share units issued under long-term incentive plans for the year ended June 30, 2023 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)			539,911						54.38
Vested (1)			(224,593)						41.75
Forfeited or expired			(114,870)						62.80
Outstanding at June 30, 2023			1,013,385						$	61.64					1.75						$	42,106

__________________________

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

Schedule of Weighted Average Assumptions, Fair Value and Intrinsic Value

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:

			Year Ended June 30,
			2023						2022						2021
Weighted–average fair value of performance share units granted			$43.10 - $55.06						$69.78 - $75.15						$44.56 - $61.67
Weighted-average assumptions used:
Expected volatility			29.00		%				28.00		%				28.00		%
Risk–free interest rate			3.13% - 3.39%						0.45% - 0.71%						0.15% - 0.24%
Expected dividend yield			0.0%						1.7% - 1.8%						1.7		%
Expected life (in years)			3.11						3.10						3.09
Forfeiture rate (based on historical rates)			7		%				7		%				7		%
Weighted–average fair value of performance share units vested			$	41.75					$	30.39					$	25.76
Aggregate intrinsic value of performance share units vested ($ in ‘000’s)			$	6,216					$	10,370					$	4,286

For the periods indicated, the weighted-average fair value and aggregate intrinsic value of RSUs (issued under LTIP) were as follows:

			Year Ended June 30,
			2023						2022						2021
Weighted–average fair value of restricted share units granted			$	38.82					$	49.91					$	43.39
Weighted–average fair value of restricted share units vested			$	36.83					$	37.36					$	32.93
Aggregate intrinsic value of restricted share units vested ($ in 000’s)			$	3,947					$	9,139					$	7,832

For the periods indicated, the weighted-average fair value and intrinsic value of RSUs (other) were as follows:

			Year Ended June 30,
			2023						2022						2021
Weighted–average fair value of restricted share units granted			$	30.46					$	44.81					$	45.73
Weighted–average fair value of restricted share units vested			$	36.33					$	45.73					$	—
Aggregate intrinsic value of restricted share units vested ($ in 000’s)			$	15,755					$	7,406					$	—

For the periods indicated, the weighted-average fair value and intrinsic value of DSUs were as follows:

			Year Ended June 30,
			2023						2022						2021
Weighted–average fair value of deferred share units granted			$	29.72					$	50.04					$	40.15
Weighted–average fair value of deferred share units vested			$	32.44					$	41.24					$	41.48
Aggregate intrinsic value of deferred share units vested ($ in 000’s)			$	1,565					$	4,133					$	3,109

Schedule of Restricted Stock Activity

A summary of activity under our restricted share units issued under long-term incentive plans for the year ended June 30, 2023 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			404,880						38.82
Vested			(147,223)						36.83
Forfeited or expired			(95,040)						43.32
Outstanding at June 30, 2023			774,360						$	42.83					1.68						$	32,175

A summary of activity under our RSUs (other) issued for the year ended June 30, 2023 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			3,493,488						30.46
Vested			(400,210)						36.33
Forfeited or expired			(376,390)						41.91
Outstanding at June 30, 2023			5,310,595						$	36.43					1.97						$	220,655

Schedule of Nonvested Share Activity

A summary of activity under our deferred share units issued for the year ended June 30, 2023 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 (2)			139,140						29.72
Settled			(30,273)						$	40.46
Outstanding at June 30, 2023 (2)			994,568						$	29.98					0.36						$	41,324

______________________

(1)    Includes 55,520 unvested DSUs.

(2)    Includes 90,906 unvested DSUs.

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