XML 34 R25.htm IDEA: XBRL DOCUMENT

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Mar. 31, 2018

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, 2018:

										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			(779,637	)			29.98
Options Forfeited			(73,015	)			29.72
Options Expired			(561,849	)			46.80
Outstanding at March 31, 2018			1,871,624				33.01				6.45			$	28,465
Exercisable at March 31, 2018			818,215			$	39.84				3.64			$	7,557

Summary of stock appreciation rights activity

The following is a summary of stock appreciation rights activity for the nine months ended March 31, 2018:

										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 March 31, 2018			-				-				-			$	-
Exercisable at March 31, 2018			-			$	-				-			$	-

Fair Values of Stock Option Awards Estimated 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

						Weighted
						Average
		Number of				Grant Date
		RSUs				Fair Value
Nonvested at July 1, 2017			1,279,667			$	26.14
RSUs Granted			501,540				34.34
RSUs Vested			(367,384	)			31.28
RSUs Forfeited			(162,012	)			28.77
Nonvested at March 31, 2018			1,251,811			$	28.01

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 March 31,								Nine Months Ended March 31,
		2018				2017				2018				2017
Cost of Educational Services		$	876			$	1,267			$	3,510			$	4,254
Student Services and Administrative Expense			1,861				2,692				7,459				9,038
Restructuring Expense			-				-				548				-
			2,737				3,959				11,517				13,292
Income Tax Benefit			(554	)			(1,383	)			(4,655	)			(4,653	)
Net Stock-Based Compensation Expense		$	2,183			$	2,576			$	6,862			$	8,639