Quarterly report pursuant to Section 13 or 15(d)

Share-based compensation (Tables)

Share-based compensation (Tables)

6 Months Ended

Dec. 31, 2011

Option activity under the Company’s stock option plans during the six months ended December 31, 2011 was as follows:


	Shares (in thousands)			Weighted Average Exercise Price		Weighted Average Contractual Life (Yrs.)		Aggregate Intrinsic Value
Outstanding at June 30, 2011		499		$	64.15
Granted		65		$	72.59
Exercised		(1	)	$	39.93

Outstanding at December 31, 2011		563		$	65.18		6.1	$	3.0 million

Exercisable at December 31, 2011		354		$	60.43		6.1	$	2.9 million

Assumptions Used in Black-Scholes Option-Pricing Model

The fair value of options granted under the Company’s stock option plans was estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions used:


	Quarter Ended December 31,				Six Months Ended December 31,
	2011		2010		2011		2010
Dividend yield		1.6%		1.8%		1.5%		1.8%
Expected annualized volatility		22%		27%		22%-23%		22%-27%
Risk free interest rate		1.9%		2.0%		1.4%-1.9%		1.3%-2.0%
Expected life		7 years		7 years		6 years		7 years