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STOCK-BASED COMPENSATION (Tables) | 6 Months Ended
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Dec. 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 six months ended December 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, 2017 |  |  | 2,794,850 |  | $ | 34.68 |  |  |  |  |  |  |
Options Granted |  |  | 491,275 |  |  | 33.90 |  |  |  |  |  |  |
Options Exercised |  |  | (308,805) |  |  | 31.65 |  |  |  |  |  |  |
Options Forfeited |  |  | (28,770) |  |  | 28.31 |  |  |  |  |  |  |
Options Expired |  |  | (559,349) |  |  | 46.79 |  |  |  |  |  |  |
Outstanding at December 31, 2017 |  |  | 2,389,201 |  |  | 32.20 |  |  | 6.29 |  | $ | 26,675 |
Exercisable at December 31, 2017 |  |  | 1,291,547 |  | $ | 35.86 |  |  | 4.12 |  | $ | 11,010 |
Summary of stock appreciation rights activity | The following is a summary of stock appreciation rights activity for the six months ended December 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, 2017 |  |  | 99,500 |  | $ | 45.04 |  |  |  |  |  |  |
Rights Exercised |  |  | (34,100) |  |  | 38.71 |  |  |  |  |  |  |
Rights Expired |  |  | (65,400) |  |  | 48.34 |  |  |  |  |  |  |
Outstanding at December 31, 2017 |  |  | - |  |  | - |  |  | - |  | $ | - |
Exercisable at December 31, 2017 |  |  | - |  | $ | - |  |  | - |  | $ | - |
Fair Values of Stock Option Awards Estimated Weighted Average Assumptions | The fair value of Adtalem’s stock option grants was estimated assuming the following weighted average assumptions:
|  | Fiscal Year |
|  | 2018 |  | 2017 |
Expected Life (in Years) |  |  | 6.68 |  |  | 6.88 |
Expected Volatility |  |  | 41.45 | % |  | 42.41 | %
Risk-free Interest Rate |  |  | 1.95 | % |  | 1.41 | %
Dividend Yield |  |  | 0.00 | % |  | 1.19 | %
Pre-vesting Forfeiture Rate |  |  | NA |  |  | 10.00 | %
Summary of Restricted Stock Units Activity | The following is a summary of RSU activity for the six months ended December 31, 2017:
|  |  |  |  | Weighted |
|  |  |  |  | Average |
|  | Number of |  | Grant Date |
|  | RSUs |  | Fair Value |
Nonvested at July 1, 2017 |  |  | 1,279,667 |  | $ | 26.14 |
RSUs Granted |  |  | 493,880 |  |  | 34.15 |
RSUs Vested |  |  | (363,831) |  |  | 31.28 |
RSUs Forfeited |  |  | (102,563) |  |  | 28.22 |
Nonvested at December 31, 2017 |  |  | 1,307,153 |  | $ | 27.93 |
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 (Loss) (in thousands):
|  | Three Months Ended December 31, |  | Six Months Ended December 31, |
|  | 2017 |  | 2016 |  | 2017 |  | 2016 |
Cost of Educational Services |  | $ | 1,214 |  | $ | 1,147 |  | $ | 2,634 |  | $ | 2,987 |
Student Services and Administrative Expense |  |  | 2,581 |  |  | 2,436 |  |  | 5,598 |  |  | 6,346 |
Restructuring Expense |  |  | - |  |  | - |  |  | 548 |  |  | - |
|  |  | 3,795 |  |  | 3,583 |  |  | 8,780 |  |  | 9,333 |
Income Tax Benefit |  |  | (1,667) |  |  | (1,251) |  |  | (4,101) |  |  | (3,283) |
Net Stock-Based Compensation Expense |  | $ | 2,128 |  | $ | 2,332 |  | $ | 4,679 |  | $ | 6,050 |

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- 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://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5070-113901 Reference 3: 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=96867065&loc=d3e5070-113901 + Details
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