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Employee Benefit Plans (Tables)
 12 Months Ended
Jun. 30, 2017
Compensation and Retirement Disclosure [Abstract]  
Components Of Stock-Based Compensation Expense
The following table represents stock-based compensation expense and related income tax benefits in each of fiscal 2017, 2016, and 2015, respectively:
Years ended June 30,
 
2017
 
2016
 
2015
Operating expenses
 
$
21.5

 
$
23.1

 
$
27.0

Selling, general and administrative expenses
 
99.2

 
97.4

 
95.8

System development and programming costs
 
18.2

 
17.1

 
20.4

Total pretax stock-based compensation expense
 
$
138.9

 
$
137.6

 
$
143.2

 
 
 
 
 
 
 
Income tax benefit
 
$
49.9

 
$
49.6

 
$
51.1
Changes In Stock Options Outstanding
Stock Options:
 
 
Number
of Options
(in thousands)
 
Weighted
Average Price
(in dollars)
Options outstanding at July 1, 2016
 
4,869

 
$
65

Options granted
 
1,234

 
$
91

Options exercised
 
(1,702
)
 
$
56

Options canceled
 
(229
)
 
$
80

Options outstanding at June 30, 2017
 
4,172

 
$
75

Options exercisable at June 30, 2017
 
1,519

 
$
62

Shares available for future grants, end of year
 
18,548

 
 
Shares reserved for issuance under stock option plans, end of year
 
22,720

 
 
Time Based Restricted Shares and Units
Time-Based Restricted Stock and Time-Based Restricted Stock Units:
 
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2016
 
1,889

 
434

Restricted shares/units granted
 
888

 
204

Restricted shares/units vested
 
(868
)
 
(203
)
Restricted shares/units forfeited
 
(148
)
 
(49
)
Restricted shares/units outstanding at June 30, 2017
 
1,761

 
386
Performance Based Restricted shares and units
Performance-Based Restricted Stock and Performance-Based Restricted Stock Units:
 
 
Number of Shares
(in thousands)
 
Number of Units
(in thousands)
Restricted shares/units outstanding at July 1, 2016
 
574

 
811

Restricted shares/units granted
 
172

 
317

Restricted shares/units vested
 
(311
)
 
(272
)
Restricted shares/units forfeited
 
(31
)
 
(87
)
Restricted shares/units outstanding at June 30, 2017
 
404

 
769
Assumptions Used To Estimate Fair Value For Stock Options Granted
The fair value for stock options granted was estimated at the date of grant using the following assumptions:
 
2017
 
2016
 
2015
Risk-free interest rate
1.2
%
 
1.6
%
 
1.5
%
Dividend yield
2.3
%
 
2.6
%
 
2.3
%
Weighted average volatility factor
23.2
%
 
25.6
%
 
23.4
%
Weighted average expected life (in years)
5.4

 
5.4

 
5.4

Weighted average fair value (in dollars) (A)
$
14.36

 
$
13.16

 
$
14.29
Weighted average fair value of restricted stock granted
The weighted average fair values of shares granted were as follows:
Year ended June 30,
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
Performance-based restricted stock (A)
 
$
90.63

 
$
75.95

 
$
64.91

Time-based restricted stock (A)
 
$
90.99

 
$
76.09

 
$
73.83


(A) The weighted average fair values of grants before September 30, 2014 were adjusted to reflect the impact of the spin-off of CDK.
Schedule of Net Funded Status
The Company's pension plans' funded status as of June 30, 2017 and 2016 is as follows:
June 30,
 
2017
 
2016
 
 
 
 
 
Change in plan assets:
 
 
 
 
Fair value of plan assets at beginning of year
 
$
2,006.3

 
$
2,009.8

Actual return on plan assets
 
195.2

 
61.2

Employer contributions
 
11.9

 
11.0

Currency translation adjustments
 
(3.2
)
 
(8.7
)
Benefits paid
 
(71.8
)
 
(67.0
)
Fair value of plan assets at end of year
 
$
2,138.4

 
$
2,006.3

 
 
 
 
 
Change in benefit obligation:
 
 
 
 
Benefit obligation at beginning of year
 
$
1,843.9

 
$
1,661.0

Service cost
 
80.8

 
70.4

Interest cost
 
60.0

 
67.4

Actuarial (gain)/losses
 
(44.5
)
 
145.3

Currency translation adjustments
 
2.7

 
(7.6
)
Plan changes
 
—

 
(25.6
)
Curtailments and special termination benefits
 
(4.4
)
 
—

Benefits paid
 
(71.8
)
 
(67.0
)
Projected benefit obligation at end of year
 
$
1,866.7

 
$
1,843.9

 
 
 
 
 
Funded status - plan assets less benefit obligations
 
$
271.7

 
$
162.4
Schedule of Amounts Recognized in Balance Sheet
The amounts recognized on the Consolidated Balance Sheets as of June 30, 2017 and 2016 consisted of:
June 30,
 
2017
 
2016
 
 
 
 
 
Noncurrent assets
 
$
413.8

 
$
306.5

Current liabilities
 
(5.0
)
 
(6.9
)
Noncurrent liabilities
 
(137.1
)
 
(137.2
)
Net amount recognized
 
$
271.7

 
$
162.4
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets
The Company's pension plans with accumulated benefit obligations in excess of plan assets as of June 30, 2017 and 2016 had the following projected benefit obligation, accumulated benefit obligation, and fair value of plan assets:
June 30,
 
2017
 
2016
 
 
 
 
 
Projected benefit obligation
 
$
241.0

 
$
165.7

Accumulated benefit obligation
 
$
227.9

 
$
148.2

Fair value of plan assets
 
$
98.9

 
$
21.6
Components Of Net Pension Expense
The components of net pension expense were as follows:
 
 
2017
 
2016
 
2015
Service cost – benefits earned during the period
 
$
80.8

 
$
70.4

 
$
68.4

Interest cost on projected benefits
 
60.0

 
67.4

 
62.8

Expected return on plan assets
 
(135.8
)
 
(131.2
)
 
(129.7
)
Net amortization and deferral
 
19.1

 
11.0

 
17.2

Special termination benefits and plan curtailments
 
0.1

 
0.1

 
3.2

Net pension expense
 
$
24.2

 
$
17.7

 
$
21.9
Schedule of Assumptions Used
Assumptions used to determine the actuarial present value of benefit obligations were:
Years ended June 30,
 
2017
 
2016
 
 
 
 
 
Discount rate
 
3.70
%
 
3.40
%
Increase in compensation levels
 
4.00
%
 
4.00
%
Defined Benefit Plan Assumptions Used Calculating Net Pension Expense
Assumptions used to determine the net pension expense generally were:
Years ended June 30,
 
2017
 
2016
 
2015
 
 
 
 
 
 
 
Discount rate
 
3.40
%
 
4.25
%
 
4.05
%
Expected long-term rate of return on assets
 
7.00
%
 
7.00
%
 
7.25
%
Increase in compensation levels
 
4.00
%
 
4.00
%
 
4.00
%
Schedule of Allocation of Plan Assets
The Company's pension plans' asset allocations at June 30, 2017 and 2016 by asset category were as follows:
 
 
2017
 
2016
 
 
 
 
 
Cash and cash equivalents
 
1
%
 
3
%
Fixed income securities
 
36
%
 
42
%
U.S. equity securities
 
19
%
 
18
%
International equity securities
 
16
%
 
14
%
Global equity securities
 
28
%
 
23
%
 
 
100
%
 
100
%
Defined Benefit Plan Target Allocation Percentage
The target asset allocation ranges for the U.S. plan are generally as follows:
U.S. fixed income securities
35% - 45%
U.S. equity securities
14% - 24%
International equity securities
11% - 21%
Global equity securities
20% - 30%
Fair Value, Measurement Inputs, Disclosure
The following table presents the investments of the pension plans measured at fair value at June 30, 2017:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$
—

 
$
1,338.5

 
$
—

 
$
1,338.5

Government securities
 
—

 
337.7

 
—

 
337.7

Mutual funds
 
4.8

 
—

 
—

 
4.8

Corporate and municipal bonds
 
—

 
409.3

 
—

 
409.3

Mortgage-backed security bonds
 
—

 
32.9

 
—

 
32.9

Total pension asset investments
 
$
4.8

 
$
2,118.4

 
$
—

 
$
2,123.2


In addition to the investments in the above table, the pension plans also held cash and cash equivalents of $15.2 million as of June 30, 2017, which have been classified as Level 1 in the fair value hierarchy.

The following table presents the investments of the pension plans measured at fair value at June 30, 2016:
 
 
Level 1
 
Level 2
 
Level 3
 
Total
 
 
 
 
 
 
 
 
 
Commingled trusts
 
$
—

 
$
1,029.2

 
$
—

 
$
1,029.2

U.S. government securities
 
—

 
371.5

 
—

 
371.5

Mutual funds
 
76.6

 
—

 
—

 
76.6

Corporate and municipal bonds
 
—

 
433.4

 
—

 
433.4

Mortgage-backed security bonds
 
—

 
35.3

 
—

 
35.3

Total pension asset investments
 
$
76.6

 
$
1,869.4

 
$
—

 
$
1,946.0