XML 68 R31.htm IDEA: XBRL DOCUMENT

STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Jun. 30, 2013

The following is a summary of options activity for the fiscal year ended June 30, 2013:

	Options Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value ($000)
Outstanding at July 1, 2012		2,939,772	$	36.37
Options Granted		860,610	$	18.63
Options Exercised		(215,812)	$	23.14
Options Canceled		(256,902)	$	36.40
Outstanding at June 30, 2013		3,327,668	$	32.64		6.07	$	16,354
Exercisable at June 30, 2013		1,972,215	$	35.56		4.41	$	6,648

The following is a summary of stock appreciation rights activity for the fiscal year ended June 30, 2013:

	Stock Appreciation Rights Outstanding		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life		Aggregate Intrinsic Value ($000)
Outstanding at July 1, 2012		-	$	-
Rights Granted		117,015	$	42.87
Rights Exercised		-	$	-
Rights Canceled		-	$	-
Outstanding at June 30, 2013		117,015	$	42.87		6.70	$	8
Exercisable at June 30, 2013		67,614	$	47.32		5.70	$	-

The fair values of DeVry’s stock option awards were estimated assuming the following weighted average assumptions:

The following is a summary of restricted stock activity for the year ended June 30, 2013:

	Restricted Stock Outstanding		Weighted Average Grant Date Fair Value
Nonvested at July 1, 2012		619,261	$	42.06
Shares Granted		716,340	$	19.65
Shares Vested		(202,582)	$	45.45
Shares Cancelled		(74,576)	$	30.84
Nonvested at June 30, 2013		1,058,443	$	27.03

The following table shows total stock-based compensation expense included in the Consolidated Statements of Earnings

(dollars in thousands):

	For the Year Ended June 30,
	2013		2012		2011
Cost of Educational Services	$	4,958	$	5,929	$	4,560
Student Services and Administrative Expense		10,535		12,601		9,691
Income Tax Benefit		(5,142)		(5,998)		(4,259)
Net Stock-Based Compensation Expense	$	10,351	$	12,532	$	9,992