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

3 Months Ended

Sep. 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: 

			Three Months Ended September 30,
			2023						2022
Stock Options (issued under Stock Option Plans)			$	4,544					$	3,585
Performance Share Units (issued under LTIP)			5,889						4,235
Restricted Share Units (issued under LTIP)			2,881						2,175
Restricted Share Units (other)			21,372						10,637
Deferred Share Units (directors)			914						961
Employee Stock Purchase Plan			1,495						1,615
Total share-based compensation expense			$	37,095					$	23,208

Schedule of Unrecognized Compensation Cost

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

			As of September 30, 2023
			Unrecognized Compensation Cost						Weighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)			$	48,754					2.6
Performance Share Units (issued under LTIP)			56,484						2.5
Restricted Share Units (issued under LTIP)			27,139						2.4
Restricted Share Units (other)			83,793						1.3
Total unrecognized share-based compensation cost			$	216,170

Schedule of Option Activity

A summary of activity under our stock option plans for the three months ended September 30, 2023 is as follows:

			Options						Weighted- Average Exercise Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value
Outstanding at June 30, 2023			12,219,439						$	38.44					4.68						$	62,473
Granted			840,610						36.79
Exercised			(84,885)						34.08
Forfeited or expired			(221,571)						42.39
Outstanding at September 30, 2023			12,753,593						$	38.29					4.60						$	23,473
Exercisable at September 30, 2023			4,940,080						$	40.16					3.10						$	2,691

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:

			Three Months Ended September 30,
			2023						2022
Weighted–average fair value of performance share units granted			$	59.48					$	55.06
Weighted-average assumptions used:
Expected volatility			28.05		%				29.00		%
Risk–free interest rate			4.38		%				3.13		%
Expected dividend yield			—		%				—		%
Expected life (in years)			3.11						3.11

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,
			2023						2022
Weighted–average fair value of options granted			$	9.16					$	8.16
Weighted-average assumptions used:
Expected volatility			30.93		%				27.46		%
Risk–free interest rate			4.44		%				2.86		%
Expected dividend yield			2.66		%				2.32		%
Expected life (in years)			4.24						4.18
Forfeiture rate (based on historical rates)			7		%				7		%
Average exercise share price			$	36.79					$	39.09

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)			1.70
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

Schedule 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, 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, 2023			1,013,385						$	61.64					1.75						$	42,106
Granted (1)			612,432						59.22
Vested			—						—
Forfeited or expired			(24,049)						61.69
Outstanding at September 30, 2023			1,601,768						$	60.76					2.16						$	56,222

__________________________

(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 three months ended September 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, 2023			774,360						$	42.83					1.68						$	32,175
Granted			466,454						36.80
Vested			—						—
Forfeited or expired			(24,049)						41.83
Outstanding at September 30, 2023			1,216,765						$	40.55					2.11						$	42,708

A summary of activity under our RSUs (other) issued for the three months ended September 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, 2023			5,310,595						$	36.43					1.97						$	220,655
Granted			10,192						37.51
Vested			(183,094)						39.83
Forfeited or expired			(106,055)						36.87
Outstanding at September 30, 2023			5,031,638						$	36.12					1.75						$	176,610

Schedule of Nonvested Share Activity

A summary of activity under our DSUs issued for the three months ended September 30, 2023 is as follows:

			Units						Weighted-Average Price						Weighted- Average Remaining Contractual Term (years)						Aggregate Intrinsic Value ($’000's)
Outstanding at June 30, 2023 (1)			994,568						$	29.98					0.36						$	41,324
Granted			7,050						37.70
Outstanding at September 30, 2023 (1)			1,001,618						$	30.04					0.10						$	35,157

______________________

(1)    Includes 90,906 unvested DSUs.

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