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

9 Months Ended

Mar. 31, 2024

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,
			2024						2023						2024						2023
Stock Options (issued under Stock Option Plans)			$	3,580					$	3,908					$	13,840					$	13,217
Performance Share Units (issued under LTIP)			6,999						4,763						19,816						14,023
Restricted Share Units (issued under LTIP)			2,489						2,480						8,404						7,299
Restricted Share Units (other)			21,002						23,316						64,673						46,673
Deferred Share Units (directors)			776						889						2,378						3,138
Employee Stock Purchase Plan			1,196						1,012						4,201						4,048
Total share-based compensation expense			$	36,042					$	36,368					$	113,312					$	88,398

Schedule of Unrecognized Compensation Cost

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

			As of March 31, 2024
			Unrecognized Compensation Cost						Weighted Average Recognition Period (years)
Stock Options (issued under Stock Option Plans)			$	43,438					2.5
Performance Share Units (issued under LTIP)			51,119						1.9
Restricted Share Units (issued under LTIP)			20,560						2.0
Restricted Share Units (other)			88,810						1.7
Total unrecognized share-based compensation cost			$	203,927

Schedule of Option Activity

A summary of activity under our stock option plans for the nine months ended March 31, 2024 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			1,571,730						38.87
Exercised			(942,192)						33.22
Forfeited or expired			(871,540)						37.62
Outstanding at March 31, 2024			11,977,437						$	38.96					4.43						$	35,333
Exercisable at March 31, 2024			4,562,883						$	41.34					3.12						$	5,566

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,
			2024						2023						2024						2023
Weighted–average fair value of options granted			$	11.10					$	7.94					$	9.84					$	6.61
Weighted-average assumptions used:
Expected volatility			31.52		%				29.66		%				31.15		%				28.65		%
Risk–free interest rate			4.07		%				3.82		%				4.36		%				4.00		%
Expected dividend yield			2.29		%				2.74		%				2.53		%				3.10		%
Expected life (in years)			4.28						4.21						4.26						4.20
Forfeiture rate (based on historical rates)			7		%				7		%				7		%				7		%
Average exercise share price			$	43.07					$	34.70					$	38.87					$	30.69

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

			Nine Months Ended March 31,
			2024						2023
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 nine months ended March 31, 2024 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)			927,477						52.55
Vested (1)			(240,741)						61.23
Forfeited or expired			(88,593)						59.16
Outstanding at March 31, 2024			1,611,528						$	56.96					1.97						$	62,576

______________________

(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 nine months ended March 31, 2024 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			496,869						35.74
Vested			(223,577)						43.40
Forfeited or expired			(71,519)						40.19
Outstanding at March 31, 2024			976,133						$	39.93					2.05						$	37,903

A summary of activity under our RSUs (other) issued for the nine months ended March 31, 2024 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			1,395,784						38.60
Vested			(1,333,430)						42.52
Forfeited or expired			(271,589)						37.47
Outstanding at March 31, 2024			5,101,360						$	35.61					1.94						$	198,086

Schedule of Nonvested Share Activity

A summary of activity under our DSUs issued for the nine months ended March 31, 2024 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			77,442						39.64
Outstanding at March 31, 2024 (2)			1,072,010						$	30.68					0.67						$	41,626

______________________

(1)    Includes 90,906 unvested DSUs.

(2)    Includes 47,871 unvested DSUs.

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