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STOCK-BASED COMPENSATION (Tables) | 9 Months Ended
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Mar. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Schedule of Information Related to Restricted Stock | The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017:
| Restricted Stock |  | Performance Share Awards |  | Stock Options
| Number of Awards | Weighted Average Fair Value at Grant Date |  | Number of Awards | Weighted Average Fair Value at Grant Date |  | Number of Options | Weighted Average Exercise Price
Outstanding at June 30, 2016 | 403,117 |  | $ | 33.86 |  |  | 1,443,708 |  | $ | 30.02 |  |  | 3,314,661 |  | $ | 30.04 |
Granted | 265,852 |  | $ | 31.57 |  |  | 902,736 |  | $ | 29.72 |  |  | 524,709 |  | $ | 31.59 |
Vested/exercised | (47,114 | ) | $ | 32.83 |  |  | (1,181,820 | ) | $ | 27.00 |  |  | (123,586 | ) | $ | 27.57 |
Forfeited | (38,980 | ) | $ | 33.77 |  |  | (74,101 | ) | $ | 33.91 |  |  | (121,811 | ) | $ | 34.22 |
Outstanding at March 31, 2017 | 582,875 |  | $ | 32.91 |  |  | 1,090,523 |  | $ | 32.78 |  |  | 3,593,973 |  | $ | 30.21 |
Stock options outstanding and exercisable at March 31, 2017 |  |  |  |  |  |  | 2,429,376 |  | $ | 28.77 |
Schedule of Information Related to Performance Share Awards | The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017:
| Restricted Stock |  | Performance Share Awards |  | Stock Options
| Number of Awards | Weighted Average Fair Value at Grant Date |  | Number of Awards | Weighted Average Fair Value at Grant Date |  | Number of Options | Weighted Average Exercise Price
Outstanding at June 30, 2016 | 403,117 |  | $ | 33.86 |  |  | 1,443,708 |  | $ | 30.02 |  |  | 3,314,661 |  | $ | 30.04 |
Granted | 265,852 |  | $ | 31.57 |  |  | 902,736 |  | $ | 29.72 |  |  | 524,709 |  | $ | 31.59 |
Vested/exercised | (47,114 | ) | $ | 32.83 |  |  | (1,181,820 | ) | $ | 27.00 |  |  | (123,586 | ) | $ | 27.57 |
Forfeited | (38,980 | ) | $ | 33.77 |  |  | (74,101 | ) | $ | 33.91 |  |  | (121,811 | ) | $ | 34.22 |
Outstanding at March 31, 2017 | 582,875 |  | $ | 32.91 |  |  | 1,090,523 |  | $ | 32.78 |  |  | 3,593,973 |  | $ | 30.21 |
Stock options outstanding and exercisable at March 31, 2017 |  |  |  |  |  |  | 2,429,376 |  | $ | 28.77 |
Schedule of Information Related to Stock Options | The following table includes information related to restricted stock, performance share awards and stock options for the nine months ended March 31, 2017:
| Restricted Stock |  | Performance Share Awards |  | Stock Options
| Number of Awards | Weighted Average Fair Value at Grant Date |  | Number of Awards | Weighted Average Fair Value at Grant Date |  | Number of Options | Weighted Average Exercise Price
Outstanding at June 30, 2016 | 403,117 |  | $ | 33.86 |  |  | 1,443,708 |  | $ | 30.02 |  |  | 3,314,661 |  | $ | 30.04 |
Granted | 265,852 |  | $ | 31.57 |  |  | 902,736 |  | $ | 29.72 |  |  | 524,709 |  | $ | 31.59 |
Vested/exercised | (47,114 | ) | $ | 32.83 |  |  | (1,181,820 | ) | $ | 27.00 |  |  | (123,586 | ) | $ | 27.57 |
Forfeited | (38,980 | ) | $ | 33.77 |  |  | (74,101 | ) | $ | 33.91 |  |  | (121,811 | ) | $ | 34.22 |
Outstanding at March 31, 2017 | 582,875 |  | $ | 32.91 |  |  | 1,090,523 |  | $ | 32.78 |  |  | 3,593,973 |  | $ | 30.21 |
Stock options outstanding and exercisable at March 31, 2017 |  |  |  |  |  |  | 2,429,376 |  | $ | 28.77 |
Schedule of Unrecognized Stock-Based Compensation Expense | Unrecognized stock-based compensation expense at March 31, 2017 was as follows (in thousands):
| Unrecognized Stock-Based Compensation Expense | Weighted Average Amortization Period
Restricted stock | $ | 10,815 |  | 1.83 years
Performance share awards | 19,535 |  | 1.91 years
Stock options | 9,737 |  | 1.83 years
Total unrecognized stock-based compensation expense | $ | 40,087 |  | 1.87 years
Schedule of Aggregate Intrinsic Value of Stock Options | The aggregate intrinsic value of stock options at March 31, 2017 was as follows (in thousands):
| Intrinsic Value of Stock Options
Outstanding and exercisable | $ | 8,556 |
Expected to vest | 170 |
Total outstanding | $ | 8,726 |
Exercised during the nine months ended March 31, 2017 | $ | 621 |
Assumptions Used for Determining the Fair Value of Stock Options Granted | The Company estimated the fair value of each stock option on the date of grant using a Black-Scholes option-pricing model, applying the following assumptions, and amortized expense over each option's vesting period using the straight-line attribution approach:
| Nine Months Ended March 31,
| 2017 | 2016
Expected life (a) | 6 years | 6 years
Expected dividend (b) | — | —
Expected volatility (c) | 32.01% - 33.00% | 32.70% - 33.50%
Risk-free interest rate (d) | 1.31% - 2.13% | 1.37% - 1.82%
Weighted average option grant date fair value | $10.48 - $11.28 | $11.19 - $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 Constant Maturity Treasury rate published by the United States Treasury as of the date of the grant.

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- Definition Tabular disclosure of the total intrinsic value of options exercised (or share units converted), share-based liabilities paid, and the total fair value of shares vested 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 (d)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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