XML 59 R49.htm IDEA: XBRL DOCUMENT v3.24.0.1

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

6 Months Ended

Dec. 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 December 31,												Six Months Ended December 31,
			2023						2022						2023						2022
Stock Options (issued under Stock Option Plans)			$	5,716					$	5,724					$	10,260					$	9,309
Performance Share Units (issued under LTIP)			6,928						5,025						12,817						9,260
Restricted Share Units (issued under LTIP)			3,034						2,644						5,915						4,819
Restricted Share Units (other)			22,299						12,720						43,671						23,357
Deferred Share Units (directors)			688						1,288						1,602						2,249
Employee Stock Purchase Plan			1,510						1,421						3,005						3,036
Total share-based compensation expense			$	40,175					$	28,822					$	77,270					$	52,030

Schedule of Unrecognized Compensation Cost

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

			As of December 31, 2023
			Unrecognized Compensation Cost						Weighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)			46,865						2.6
Performance Share Units (issued under LTIP)			60,693						2.1
Restricted Share Units (issued under LTIP)			24,495						2.2
Restricted Share Units (other)			112,782						1.8
Total unrecognized share-based compensation cost			244,835

Schedule of Option Activity

A summary of activity under our stock option plans for the six months ended December 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, 2023			12,219,439						$	38.44					4.68						$	62,473
Granted			1,294,230						37.96
Exercised			(424,812)						32.96
Forfeited or expired			(252,923)						41.57
Outstanding at December 31, 2023			12,835,934						$	38.51					4.52						$	66,700
Exercisable at December 31, 2023			4,833,489						$	40.49					3.07						$	16,956

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 December 31,												Six Months Ended December 31,
			2023						2022						2023						2022
Weighted–average fair value of options granted			$	10.34					$	5.77					$	9.57					$	6.40
Weighted-average assumptions used:
Expected volatility			31.33		%				28.87		%				31.07		%				28.50		%
Risk–free interest rate			4.40		%				4.46		%				4.42		%				4.03		%
Expected dividend yield			2.44		%				3.46		%				2.58		%				3.16		%
Expected life (in years)			4.27						4.20						4.25						4.19
Forfeiture rate (based on historical rates)			7		%				7		%				7		%				7		%
Average exercise share price			$	40.14					$	26.81					$	37.96					$	30.07

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:

			Six Months Ended December 31,
			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 market-based PSUs issued under LTIP, and weighted-average assumptions estimated under the Monte Carlo pricing model were as follows:

			Six Months Ended December 31,
			2023						2022
Weighted–average fair value of performance share units granted			$59.48						$43.10 - $55.06
Weighted-average assumptions used:
Expected volatility			28%						29% - 31%
Risk–free interest rate			4.38%						3.13% - 3.39%
Expected dividend yield			—		%				—		%
Expected life (in years)			3.10						3.11

Schedule of Non Option Award Activity

A summary of activity under our performance share units issued under the LTIP for the six months ended December 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, 2023			1,013,385						$	61.64					1.75						$	42,106
Granted (1)			918,831						52.90
Vested (1)			(240,741)						61.23
Forfeited or expired			(40,083)						59.02
Outstanding at December 31, 2023			1,651,392						$	57.15					2.21						$	69,392

______________________

(1)PSUs are earned based on market or performance 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 six months ended December 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, 2023			774,360						$	42.83					1.68						$	32,175
Granted			491,738						36.12
Vested			(224,010)						43.38
Forfeited or expired			(34,035)						40.45
Outstanding at December 31, 2023			1,008,053						$	39.94					2.30						$	42,358

A summary of activity under our RSUs (other) issued for the six months ended December 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, 2023			5,310,595						$	36.43					1.97						$	220,655
Granted			1,377,226						39.18
Vested			(312,331)						36.66
Forfeited or expired			(186,875)						37.06
Outstanding at December 31, 2023			6,188,615						$	37.06					2.07						$	260,046

Schedule of Nonvested Share Activity

A summary of activity under our DSUs issued for the six months ended December 31, 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			69,789						39.69
Outstanding at December 31, 2023 (2)			1,064,357						$	30.62					0.91						$	44,724

______________________

(1)    Includes 90,906 unvested DSUs.

(2)    Includes 47,871 unvested DSUs.

X

- Definition

Schedule of Share Based Payment Award, Valuation Assumptions, Fair Value and Intrinsic Value

+ References

No definition available.

+ Details

Name:	otex_ScheduleOfShareBasedPaymentAwardValuationAssumptionsFairValueAndIntrinsicValueTableTextBlock
Namespace Prefix:	otex_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfNonvestedShareActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost not yet recognized and weighted-average period over which cost is expected to be recognized for nonvested award under share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (i)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedCompensationCostNonvestedAwardsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of number and weighted-average grant date fair value for nonvested performance shares.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Subparagraph (c)
-Paragraph 2
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ShareBasedCompensationPerformanceSharesAwardUnvestedActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration