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Stock-Based Compensation (Tables)
6 Months Ended
Mar. 31, 2017
Stock-Based Compensation  
Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Six Months Ended

 

 

 

March 31, 

 

March 31, 

 

 

    

2017

    

2016

    

2017

    

2016

 

 

 

(in thousands)

 

(in thousands)

 

Compensation expense

 

 

    

    

 

    

 

 

 

 

 

 

 

Stock options

 

$

1,869

 

$

1,776

 

$

3,521

 

$

5,326

 

Restricted stock

 

 

4,709

 

 

4,290

 

 

8,958

 

 

8,661

 

 

 

$

6,578

 

$

6,066

 

$

12,479

 

$

13,987

 

 

Summary of weighted-average assumptions utilized in determining the fair value of options granted

 

 

 

 

 

 

 

    

2017

    

2016

 

Risk-free interest rate

 

2.0

%  

1.8

%

Expected stock volatility

 

39.4

%  

37.6

%

Dividend yield

 

3.4

%  

4.6

%

Expected term (in years)

 

5.5

 

5.5

 

 

Summary of stock option activity under all existing long-term incentive plans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended March 31, 2017

 

 

 

 

 

 

 

Weighted

 

 

 

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Weighted

 

Remaining

 

Aggregate

 

 

 

 

 

Average

 

Contractual

 

Intrinsic

 

 

 

 

 

Exercise

 

Term

 

Value

 

 

    

Options

    

Price

    

(in years)

    

(in millions)

 

Outstanding at January 1, 2017

 

3,290

 

$

51.74

 

 —

 

 

 —

 

Granted

 

10

 

 

69.91

 

 —

 

 

 —

 

Exercised

 

(5)

 

 

49.67

 

 —

 

 

 —

 

Forfeited/Expired

 

(2)

 

 

53.85

 

 —

 

$

 —

 

Outstanding at March 31, 2017

 

3,293

 

$

55.90

 

5.9

 

$

43.9

 

Vested and expected to vest at March 31, 2017

 

3,239

 

$

55.67

 

5.9

 

$

43.6

 

Exercisable at March 31, 2017

 

2,244

 

$

50.21

 

4.6

 

$

39.6

 

 

 

 

 

 

 

 

 

 

Six Months Ended

 

 

March 31, 2017

 

 

 

 

Weighted

 

 

 

 

Average

 

 

 

 

Exercise

 

    

Options

    

Price

Outstanding at October 1, 2016

 

3,312

 

$

51.74

Granted

 

334

 

 

80.95

Exercised

 

(340)

 

 

39.57

Forfeited/Expired

 

(13)

 

 

70.37

Outstanding at March 31, 2017

 

3,293

 

$

55.90

 

Summary of restricted stock awards and changes in restricted stock outstanding

 

 

 

 

 

 

 

 

 

 

Six Months Ended

 

 

 

March 31, 2017

 

 

 

 

 

Weighted

 

 

 

 

 

Average

 

 

 

Shares

 

Exercise

 

 

    

(in thousands)

    

Price

 

Unvested at October 1,

 

648

 

$

64.24

 

Granted

 

266

 

 

81.20

 

Vested (1)

 

(270)

 

 

63.79

 

Forfeited

 

(5)

 

 

68.52

 

Unvested on March 31, 2017

 

639

 

$

71.46

 


(1)The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.