XML 33 R24.htm IDEA: XBRL DOCUMENT
v3.7.0.1

STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
--- | ---
Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of options Activity | The following is a summary of options activity for the nine months ended March 31, 2017:
|  |  |  |  |  | Weighted |  |  |
|  |  |  | Weighted |  | Average |  | Aggregate |
|  |  |  | Average |  | Remaining |  | Intrinsic |
|  | Number of |  | Exercise |  | Contractual |  | Value |
|  | Options |  | Price |  | Life (in Years) |  | (in thousands) |
Outstanding at July 1, 2016 |  |  | 3,574,336 |  | $ | 32.79 |  |  |  |  |  |  |
Options Granted |  |  | 397,700 |  |  | 23.78 |  |  |  |  |  |  |
Options Exercised |  |  | (912,734) |  |  | 22.81 |  |  |  |  |  |  |
Options Forfeited |  |  | (12,409) |  |  | 30.00 |  |  |  |  |  |  |
Options Expired |  |  | (24,081) |  |  | 31.16 |  |  |  |  |  |  |
Outstanding at March 31, 2017 |  |  | 3,022,812 |  |  | 34.65 |  |  | 5.37 |  | $ | 16,948 |
Exercisable at March 31, 2017 |  |  | 2,029,550 |  | $ | 39.68 |  |  | 3.66 |  | $ | 5,285 |
Summary of stock appreciation rights activity | The following is a summary of stock appreciation rights activity for the nine months ended March 31, 2017:
|  |  |  |  |  | Weighted |  |  |
|  | Number of |  | Weighted |  | Average |  | Aggregate |
|  | Stock |  | Average |  | Remaining |  | Intrinsic |
|  | Appreciation |  | Exercise |  | Contractual |  | Value |
|  | Rights |  | Price |  | Life (in Years) |  | (in thousands) |
Outstanding at July 1, 2016 |  |  | 118,065 |  | $ | 42.74 |  |  |  |  |  |  |
Rights Granted |  |  | - |  |  | - |  |  |  |  |  |  |
Rights Exercised |  |  | (18,565) |  |  | 30.41 |  |  |  |  |  |  |
Rights Canceled |  |  | - |  |  | - |  |  |  |  |  |  |
Outstanding at March 31, 2017 |  |  | 99,500 |  |  | 45.04 |  |  | 0.67 |  | $ | - |
Exercisable at March 31, 2017 |  |  | 99,500 |  | $ | 45.04 |  |  | 0.67 |  | $ | - |
Fair Values of Stock Option Awards Estimated Weighted Average Assumptions | The fair value of DeVry Group’s stock option grants was estimated assuming the following weighted average assumptions:
|  | Fiscal Year |
|  | 2017 |  | 2016 |
Expected Life (in Years) |  |  | 6.88 |  |  | 6.78 |
Expected Volatility |  |  | 42.41 | % |  | 41.35 | %
Risk-free Interest Rate |  |  | 1.41 | % |  | 1.85 | %
Dividend Yield |  |  | 1.19 | % |  | 1.01 | %
Pre-vesting Forfeiture Rate |  |  | 10.00 | % |  | 3.00 | %
Summary of Restricted Stock Units Activity | The following is a summary of RSUs activity for the nine months ended March 31, 2017:
|  |  |  | Weighted |
|  |  |  | Average |
|  | Number of |  | Grant Date |
|  | RSUs |  | Fair Value |
Nonvested at July 1, 2016 |  |  | 1,139,350 |  | $ | 27.78 |
RSUs Granted |  |  | 648,160 |  |  | 23.89 |
RSUs Vested |  |  | (367,839) |  |  | 27.22 |
RSUs Forfeited |  |  | (100,555) |  |  | 26.94 |
Nonvested at March 31, 2017 |  |  | 1,319,116 |  | $ | 26.09 |
Total Stock-Based Compensation Expense Included in Consolidated Statement of Earnings | The following table shows total stock-based compensation expense included in the Consolidated Statements of Income (in thousands):
|  | Three Months Ended |  | Nine Months Ended |
|  | March 31, |  | March 31, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Cost of Educational Services |  | $ | 1,267 |  | $ | 1,209 |  | $ | 4,254 |  | $ | 4,477 |
Student Services and Administrative Expense |  |  | 2,692 |  |  | 2,568 |  |  | 9,038 |  |  | 9,512 |
Stock-Based Compensation Expense |  |  | 3,959 |  |  | 3,777 |  |  | 13,292 |  |  | 13,989 |
Income Tax Benefit |  |  | (1,383) |  |  | (1,439) |  |  | (4,653) |  |  | (5,157) |
Net Stock-Based Compensation Expense |  | $ | 2,576 |  | $ | 2,338 |  | $ | 8,639 |  | $ | 8,832 |

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 the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockAppreciationRightsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum: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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration