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

9 Months Ended

Mar. 31, 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: 

			Three Months Ended March 31,												Nine Months Ended March 31,
			2023						2022						2023						2022
Stock Options (issued under Stock Option Plans)			$	3,908					$	3,442					$	13,217					$	12,457
Performance Share Units (issued under LTIP)			4,763						2,980						14,023						10,151
Restricted Share Units (issued under LTIP)			2,480						1,694						7,299						5,790
Restricted Share Units (other)			23,316						6,482						46,673						9,229
Deferred Share Units (directors)			889						915						3,138						3,069
Employee Stock Purchase Plan			1,012						1,235						4,048						4,395
Total share-based compensation expense			$	36,368					$	16,748					$	88,398					$	45,091

Schedule of Unrecognized Compensation Cost

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

			As of March 31, 2023
			Unrecognized Compensation Cost						Weighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)			53,684.6						2.6
Performance Share Units (issued under LTIP)			33,643.3						2.0
Restricted Share Units (issued under LTIP)			17,100.1						2.0
Restricted Share Units (other)			140,740.7						1.7
Total unrecognized share-based compensation cost			$	245,168.7

Schedule of Option Activity

A summary of activity under our stock option plans for the nine months ended March 31, 2023 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			4,799,650						30.94
Exercised			(88,142)						28.06
Forfeited or expired			(885,678)						43.98
Outstanding at March 31, 2023			12,646,492						$	38.28					4.91						$	44,333
Exercisable at March 31, 2023			3,959,892						$	39.63					3.03						$	7,242

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,
			2023						2022						2023						2022
Weighted–average fair value of options granted			$	7.94					$	8.31					$	6.61					$	9.08
Weighted-average assumptions used:
Expected volatility			29.66		%				26.06		%				28.65		%				26.37		%
Risk–free interest rate			3.82		%				1.54		%				4.00		%				1.06		%
Expected dividend yield			2.74		%				1.94		%				3.10		%				1.75		%
Expected life (in years)			4.21						4.14						4.20						4.15
Forfeiture rate (based on historical rates)			7		%				7		%				7		%				7		%
Average exercise share price			$	34.70					$	44.45					$	30.69					$	48.69

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:

									Nine Months Ended March 31,
									2023
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:

									Nine Months Ended March 31,
															2023						2022
Weighted–average fair value of performance share units granted															$43.10 - $55.06						$69.78 - $75.15
Weighted-average assumptions used:
Expected volatility															29% - 31%						28.00		%
Risk–free interest rate															3.13% - 3.39%						0.45% - 0.71%
Expected dividend yield															—		%				1.70% - 1.80%
Expected life (in years)															3.11						3.10

Schedule of Non Option Award Activity

A summary of activity under our performance share units issued under the LTIP for the nine months ended March 31, 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)			537,016						54.46
Vested (1)			(224,593)						41.75
Forfeited or expired			(93,529)						63.94
Outstanding at March 31, 2023			1,031,831						$	61.65					2.01						$	39,777

______________________

(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.

Schedule of Restricted Stock Activity

A summary of activity under our RSUs issued under the LTIP for the nine months ended March 31, 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			402,752						38.81
Vested			(147,223)						36.83
Forfeited or expired			(80,209)						43.82
Outstanding at March 31, 2023			787,063						$	42.13					1.94						$	30,341

A summary of activity under our RSUs (other) issued for the nine months ended March 31, 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			3,482,503						30.43
Vested			(199,055)						40.79
Forfeited or expired			(219,978)						41.03
Outstanding at March 31, 2023			5,657,177						$	35.89					2.20						$	218,084

Schedule of Nonvested Share Activity

A summary of activity under our deferred share units issued for the nine months ended March 31, 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			132,827						29.19
Settled			(30,273)						$	40.46
Outstanding at March 31, 2023 (2)			988,255						$	29.55					0.61						$	38,097

______________________

(1)    Includes 55,520 unvested DSUs.

(2)    Includes 90,906 unvested DSUs.

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