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Share-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2012

Share-based Compensation [Abstract]

Schedule of Share-Based Compensation

Total share-based compensation included as a component of selling, general, and administrative expense in our Consolidated Income Statements was as follows:

	Fiscal Year Ended June 30,
	2012				2011				2010
	(in thousands)
Share-based compensation related to:
Equity classified stock options	$	2,875			$	3,106			$	4,698
Equity classified restricted stock	3,965				1,771				1,367
Total share-based compensation	$	6,840			$	4,877			$	6,065

Weighted Average Assumptions for the Options Granted During the Following Fiscal Years

The Company used the following weighted average assumptions for the options granted during the following fiscal years:

	Fiscal Year Ended June 30,
	2012				2011				2010
Expected term	6.77 years				6.88 years				6.82 years
Expected volatility	41.33		%		42.92		%		46.27		%
Risk-free interest rate	1.42		%		2.56		%		2.89		%
Dividend yield	0.00		%		0.00		%		0.00		%
Weighted average fair value per option	$	14.94			$	17.21			$	12.43

Stock Option Plans

A summary of our stock option plans is presented below:

	Fiscal Year Ended June 30, 2012
	Options			Weighted- Average Exercise Price				Weighted- Average Remaining Contractual Life		Aggregate Intrinsic Value
Outstanding, beginning of year	1,969,477			$	27.47
Granted during the period	85,578			34.23
Exercised during the period	(415,959	)		21.67
Canceled, forfeited, or expired during the period	(9,137	)		34.42
Outstanding, end of year	1,629,959			29.27				5.67		$	5,970,110
Vested and expected to vest at June 30, 2012	1,629,870			29.27				5.67		$	5,970,070
Exercisable, end of year	1,385,371			$	28.60			5.12		$	5,652,620

Unvested Shares

A summary of the status of the Company’s shares subject to unvested options is presented below:

	Fiscal Year Ended June 30, 2012
	Options			Weighted      Average Exercise Price				Weighted Average Grant     Date Fair-     Value
Unvested, beginning of year	445,010			$	26.29			$	12.25
Granted	85,578			34.23				14.94
Vested	(280,703	)		22.71				10.28
Canceled or forfeited	(5,297	)		33.30				10.42
Unvested, end of year	244,588			$	33.02			$	15.49

Stock Options Outstanding

The following table summarizes information about stock options outstanding and exercisable as of June 30, 2012:

		Options Outstanding									Options Exercisable
Range of Exercise Prices		Shares   Outstanding			Weighted Average Remaining   Contractual   Life		Weighted     Average Exercise Price				Number   Exercisable			Weighted     Average Exercise Price
$11.01 - $14.68		20,602			0.51		$	13.67			20,602			$	13.67
$14.68 - $18.35		314,396			6.20		18.12				314,396			18.12
$18.35 - $22.01		18,800			1.43		21.58				18,800			21.58
$22.01 - $25.68		189,725			6.41		24.55				137,915			24.56
$25.68 - $29.35		81,500			3.52		27.48				81,500			27.48
$29.35 - $33.02		364,120			4.62		31.46				359,120			31.45
$33.02 - $36.69		640,816			6.34		35.84				453,038			36.03
		1,629,959			5.67		$	29.27			1,385,371			$	28.60

Restricted Stock Outstanding

During the fiscal year ended June 30, 2012, the Company elected to grant 173,246 shares of restricted stock to employees and non-employee directors, of which 159,746 of these shares were issued in the form of RSUs:

	Fiscal Year Ended June 30, 2012
	Shares granted		Date granted		Grant date fair value				Vesting period
Employees
Certain employees based on promotions	5,000		January 31, 2012		$	37.56			Annually over 3 years
Certain employees based on promotions	4,500		May 1, 2012		32.61				Annually over 3 years
Certain employees	1,000		June 18, 2012		31.33				Annually over 3 years
Certain employees	1,500		November 1, 2012		32.94				Annually over 3 years
Certain employees	147,683		December 2, 2011		34.35				Annually over 3 years
Executive officers, vesting based on certain service and performance conditions	1,563		May 14, 2012		32.01				Annually over 2 years
Non-Employee Directors(1)	12,000		December 2, 2011		$	34.35			6 months

(1) Per the Amended and Restated Director’s Equity Compensation Plan, non-employee directors will receive annual awards of restricted stock, as opposed to stock options. The number of shares of restricted stock to be granted will be established from time to time by the Board of Directors. Currently, the number of shares of restricted stock awarded to each non-employee director will be determined by dividing $80,000 by the fair market value of the common stock on the date of grant. These awards will generally vest in full on the day that is six months after the date of grant or upon the earlier occurrence of (i) the director’s termination of service as a director by reason of death, disability or retirement, or (ii) a change in control by the Company. The compensation expense associated with these awards will be recognized on a pro-rata basis over this period.

A summary of the status of the Company’s outstanding restricted stock is presented below:

	Fiscal Year Ended June 30, 2012
	Shares			Weighted Average Grant Date Fair Value
Outstanding, beginning of year	241,085			$	29.15
Granted during the period	173,246			34.34
Vested during the period	(122,071	)		28.12
Cancelled, forfeited, or expired during the period	(25,002	)		32.00
Outstanding, end of year	267,258			$	32.43

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