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STOCK-BASED COMPENSATION (Tables) | 3 Months Ended
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Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule Restricted Stock Unit Award Activity | The following table includes information related to restricted stock awards for the three months ended September 30, 2016:
| Number of Awards | Weighted Average Fair Value at Grant Date
Outstanding at June 30, 2016 | 403,117 |  | $ | 33.86 |
Granted | 194,744 |  | $ | 31.66 |
Vested | (12,191 | ) | $ | 32.72 |
Forfeited | (18,241 | ) | $ | 33.83 |
Outstanding at September 30, 2016 | 567,429 |  | $ | 33.14 |
Schedule of Performance Share Award Activity | The following table includes information related to performance share awards for the three months ended September 30, 2016:
| Number of Awards | Weighted Average Fair Value at Grant Date
Outstanding at June 30, 2016 | 1,443,708 |  | $ | 30.02 |
Granted | 853,395 |  | $ | 29.69 |
Vested | (1,181,820 | ) | $ | 27.00 |
Forfeited | (34,255 | ) | $ | 33.81 |
Outstanding at September 30, 2016 | 1,081,028 |  | $ | 32.94 |
Schedule of Stock Option Activity | The following table includes information related to stock options for the three months ended September 30, 2016:
| Number of Options | Weighted Average Exercise Price
Outstanding at June 30, 2016 | 3,314,661 |  | $ | 30.04 |
Granted | 477,848 |  | $ | 31.66 |
Exercised | (83,880 | ) | $ | 27.71 |
Forfeited | (45,175 | ) | $ | 34.00 |
Outstanding at September 30, 2016 | 3,663,454 |  | $ | 30.26 |
Outstanding and exercisable at September 30, 2016 | 2,466,974 |  | $ | 28.74 |
Assumptions Used for Determining the Fair Value of Stock Options Granted | The Company estimates the fair value of each stock option on the date of grant using a Black-Scholes option-pricing model, applying the following assumptions and amortizes expense over the option's vesting period using the straight-line attribution approach:
| September 30,
| 2016 | 2015
Expected life (a) | 6 years | 6 years
Expected dividend (b) | — | —
Expected volatility (c) | 33.0% | 32.7%
Risk-free interest rate (d) | 1.31% | 1.74%
Weighted average option grant date fair value | $10.80 | $12.40
(a) | The six-year expected life (estimated period of time outstanding) of stock options granted was estimated using the "Simplified Method" which utilizes the midpoint between the vesting date and the end of the contractual term. This method was utilized for the stock options due to the lack of historical exercise behavior of Premier's employees.
(b) | No dividends are expected to be paid over the contractual term of the stock options granted, resulting in the use of a zero expected dividend rate.
(c) | The expected volatility rate is based on the observed historical volatilities of comparable companies.
(d) | The risk-free interest rate was interpolated from the five-year and seven-year United States Treasury constant maturity market yield as of the date of the grant.

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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://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
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- 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
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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://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
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares. + 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) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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