Stock-Based Compensation (Tables)

12 Months Ended

Jun. 30, 2023

Share-Based Payment Arrangement [Abstract]

Components of Stock-Based Compensation Expense and Related Tax Benefits

Stock-based compensation expense and related income tax benefits recognized under all plans is as follows (in thousands):

	Year Ended June 30,
	2023		2022		2021
Stock-based compensation expense	$	39,643	$	31,732	$	30,463
Income tax benefits recognized from stock-based compensation	10,110		8,218		8,009

Annual Performance-Based Awards Granted

The annual performance-based awards granted for each of the fiscal years presented were as follows:

	Performance-based stock awards granted	Number of additional shares earned under performance-based stock awards
Fiscal 2023	51,600	—
Fiscal 2022	47,749	—
Fiscal 2021	111,729	17,398

Summary of Activity Related to Restricted Stock and RSUs

Changes in the number of unvested RSUs for each of the periods presented, together with the corresponding weighted-average fair values, are as follows:

	Restricted Stock Units
	Number of Shares	Weighted Average Grant Date Fair Value
Unvested at June 30, 2020	501,923	$	173.18
Granted	198,564	243.87
Vested	(240,950)	99.55
Forfeited	(33,566)	219.94
Unvested at June 30, 2021	425,971	$	209.60
Granted	237,723	249.04
Vested	(200,371)	114.01
Forfeited	(26,704)	249.09
Unvested at June 30, 2022	436,619	$	253.02
Granted	187,046	262.13
Vested	(157,001)	235.73
Forfeited	(29,328)	257.58
Unvested at June 30, 2023	437,336	$	259.75

Summary of Activity Related to MSPP

Activity related to the MSPP during the year ended June 30, 2023 is as follows:

	MSPP
RSUs outstanding, June 30, 2022	4,709
Granted	1,362
Issued	(617)
Forfeited	(314)
RSUs outstanding, June 30, 2023	5,140
Weighted average grant date fair value as adjusted for the applicable discount	$	217.54