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Stock-Based Compensation (Tables)
 12 Months Ended
Jun. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Assumptions used in our Black-Scholes valuation
The assumptions used in our Black-Scholes valuation related to grants made during 2016 and 2015 were as follows:
 
 
2016
 
2015
Risk-free interest rate
 
1.4
%
 
1.5
%
Expected life (years) (5)
 
4.5

 
4.5

Expected volatility (6)
 
31.7
%
 
32.5
%
Expected dividend yield
 
2.1
%
 
1.7
%
(5) Expected life is derived from historical experience.
(6) Expected volatility is based on the implied historical volatility of our stock.
Changes in stock options
Changes in our stock options for 2017 were as follows:
 
Options
 
Weighted
Average
Exercise Price
 
Weighted
Average
Remaining
Life (years)
 
Aggregate
Intrinsic value
(in thousands)
Options outstanding, June 30, 2016
2,547,809

 
$
33.72

 
 
 
 
Granted
—

 
—

 
 
 
 
Exercised
(637,769
)
 
33.44

 
 
 
 
Lapsed and forfeited
(183,249
)
 
31.29

 
 
 
 
Options outstanding, June 30, 2017
1,726,791

 
$
34.08

 
4.7
 
$
9,296

Options vested and expected to vest, June 30, 2017
1,713,555

 
$
34.12

 
4.6
 
$
9,173

Options exercisable, June 30, 2017
1,260,230

 
$
35.76

 
3.4
 
$
5,231
Changes in time vesting and performance vesting restricted stock units
Changes in our time vesting and performance vesting restricted stock units for 2017 were as follows:
 
Performance
Vesting
Stock
Units
 
Performance
Vesting
Weighted
Average Fair
Value
 
Time Vesting
Stock Units
 
Time Vesting
Weighted
Average Fair
Value
Unvested, June 30, 2016
115,467

 
$
36.96

 
1,014,744

 
$
31.97

Granted
235,241

 
26.35

 
610,998

 
25.46

Vested
(17,124
)
 
45.24

 
(393,518
)
 
35.37

Performance metric not achieved
(35,980
)
 
26.35

 
—

 
—

Forfeited
(17,354
)
 
35.31

 
(78,780
)
 
27.42

Unvested, June 30, 2017
280,250

 
$
27.62

 
1,153,444

 
$
27.66