Annual report pursuant to Section 13 and 15(d)

Share-based Compensation and Other Benefit Plans (Tables)

Share-based Compensation and Other Benefit Plans (Tables)

12 Months Ended

Jun. 30, 2014

Stock option activity under the Plans for the three years ended June 30, 2014, consists of the following (shares in thousands):


	Shares			Weighted Average Exercise Price		Weighted Avg. Contractual Life (Yrs.)		Aggregate Intrinsic Value
Outstanding at June 30, 2011		499		$	64.15
Granted		95			71.94
Forfeited		(2	)		76.15
Exercised		(17	)		50.98

Outstanding at June 30, 2012		575			65.78
Granted		175			67.80
Exercised		(22	)		51.17

Outstanding at June 30, 2013		728			66.70
Granted		251			80.88
Forfeited		(26	)		76.23
Exercised		(142	)		59.07

Outstanding at June 30, 2014		811		$	72.11		5.4	$16.6 million

Exercisable at June 30:
2012		403		$	62.67
2013		497			65.04
2014		534			69.49		5.1	$12.3 million

Assumptions Used in Black-Scholes Option-Pricing Model

The fair values of options granted under the Plans were estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions used:


	Year Ended June 30,
	2014		2013		2012
Dividend yield		1.5%		1.8%		1.5%
Expected volatility		18%-22%		18%-23%		22%-23%
Risk-free interest rates		1.4%-2.1%		0.4%-1.4%		0.9%-2.0%
Expected lives		6 years		5 years		6 years