Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2015

The assumptions used in our Black-Scholes valuation related to grants made during the nine months ended March 31, 2015 and 2014 were as follows:

(3) Expected life is derived from historical experience.

(4) Expected volatility is based on the implied historical volatility of our stock.

Changes in our stock options for the nine months ended March 31, 2015 were as follows:



	Options		Weighted Average Exercise Price		Weighted Average Remaining Life (years)	Aggregate Intrinsic value (in thousands)
Options outstanding, June 30, 2014	2,264,824		$	33.95
Granted	436,541		40.81
Exercised	(308,844	)	26.96
Lapsed and forfeited	(92,835	)	41.53
Options outstanding, March 31, 2015	2,299,686		$	35.88	4.6	$	5,142
Options vested and expected to vest, March 31, 2015	2,256,996		$	35.79	4.5	$	5,142
Options exercisable, March 31, 2015	1,755,765		$	34.31	3.3	$	5,142

Changes in our time vesting and performance vesting restricted stock units for the nine months ended March 31, 2015 were as follows:



	Performance Vesting Stock Units		Performance Vesting Weighted Average Fair Value		Time Vesting Stock Units		Time Vesting Weighted Average Fair Value
Unvested performance vesting and time vesting restricted stock units, June 30, 2014	197,356		$	40.92	743,326		$	39.20
Granted	88,536		43.16		445,366		42.16
Vested	(28,022	)	38.95		(321,575	)	36.60
Performance metric not achieved	(65,373	)	43.16		—		—
Forfeited	(91,252	)	42.96		(86,131	)	42.52
Unvested performance vesting and time vesting restricted stock units, March 31, 2015	101,245		$	43.00	780,986		$	41.61