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Stock-Based Compensation (Tables) | 6 Months Ended
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Dec. 31, 2020
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, 2020:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Weighted-Average | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | Remaining | ​ | Aggregate
​ | ​ | Number of | ​ | Weighted-Average | ​ | Contractual Life | ​ | Intrinsic Value
​ | ​ | Options | ​ | Exercise Price | ​ | (in years) | ​ | (in thousands)
Outstanding as of July 1, 2020 |  | 1,439,630 | ​ | $ | 31.95 |  | ​ | ​ | ​ | ​
Granted |  | 281,075 | ​ |  | 32.03 |  | ​ | ​ | ​ | ​
Exercised |  | (5,450) | ​ | ​ | 23.30 |  | ​ | ​ | ​ | ​
Forfeited |  | — | ​ | ​ | — |  | ​ | ​ | ​ | ​
Expired |  | (35,050) | ​ | ​ | 41.84 |  | ​ | ​ | ​ | ​
Outstanding as of December 31, 2020 |  | 1,680,205 | ​ |  | 31.81 |  | 6.60 | ​ | $ | 7,686
Exercisable as of December 31, 2020 |  | 1,025,387 | ​ | $ | 29.03 |  | 5.42 | ​ | $ | 7,137
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
​ | ​ | 2021 | ​ | 2020 | ​
Expected life (in years) |  | 6.54 |  | 6.51 |
Expected volatility |  | 39.27 | % | 37.66 | %
Risk-free interest rate |  | 0.45 | % | 1.40 | %
Dividend yield |  | 0.00 | % | 0.00 | %
Summary of Restricted Stock Units Activity | The following is a summary of RSU activity for the six months ended December 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Weighted-Average
​ | ​ | Number of | ​ | Grant Date
​ | ​ | RSUs | ​ | Fair Value
Outstanding as of July 1, 2020 |  | 767,973 | ​ | $ | 39.42
Granted |  | 564,900 | ​ |  | 30.62
Vested |  | (361,728) | ​ |  | 34.92
Forfeited |  | (24,630) | ​ |  | 38.88
Outstanding as of December 31, 2020 |  | 946,515 | ​ | $ | 35.90
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 | ​ | Six Months Ended | ​
​ | ​ | December 31, | ​ | December 31, | ​
​ | ​ | 2020 | ​ | 2019 | ​ | 2020 | ​ | 2019 | ​
Cost of educational services | ​ | $ | 345 | ​ | $ | 312 | ​ | $ | 738 | ​ | $ | 767 | ​
Student services and administrative expense | ​ |  | 3,303 | ​ |  | 3,012 | ​ |  | 6,914 | ​ |  | 7,780 | ​
​ | ​ |  | 3,648 | ​ |  | 3,324 | ​ |  | 7,652 | ​ |  | 8,547 | ​
Income tax benefit | ​ |  | (641) | ​ |  | (713) | ​ |  | (1,167) | ​ |  | (3,246) | ​
Net stock-based compensation expense | ​ | $ | 3,007 | ​ | $ | 2,611 | ​ | $ | 6,485 | ​ | $ | 5,301 | ​

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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