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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Sep. 30, 2018
STOCK-BASED COMPENSATION |
Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense |
|  | September 30,
|  | 2018 |  | 2017 |  | 2016
|  | (in thousands)
Compensation expense |  |  |  |  |  |  |  |  |
Stock options |  | $ | 7,913 |  | $ | 7,439 |  | $ | 8,290
Restricted stock |  |  | 23,774 |  |  | 18,744 |  |  | 16,093
|  | $ | 31,687 |  | $ | 26,183 |  | $ | 24,383
Summary of weighted-average assumptions utilized in determining the fair value of options granted |
|  | 2018 |  | 2017 |  | 2016 |
Risk-free interest rate (1) |  | 2.2 | % | 2.0 | % | 1.8 | %
Expected stock volatility (2) |  | 36.1 | % | 38.9 | % | 37.6 | %
Dividend yield (3) |  | 4.7 | % | 3.7 | % | 4.6 | %
Expected term (in years) (4) |  | 6.0 |  | 5.5 |  | 5.5 |
| (1) |  | The risk-free interest rate is based on U.S. Treasury securities for the expected term of the option.
| (2) |  | Expected volatilities are based on the daily closing price of our stock based upon historical experience over a period which approximates the expected term of the option.
| (3) |  | The dividend yield is based on our current dividend yield.
| (4) |  | The expected term of the options granted represents the period of time that they are expect to be outstanding. We estimate term of option granted based on historical experience with grants and exercise.
Summary of stock option activity | The following summary reflects the stock option activity for our common stock and related information for fiscal years 2018, 2017 and 2016 (shares in thousands):
|  | 2018 |  | 2017 |  | 2016
|  |  |  | Weighted-Average |  |  |  | Weighted-Average |  |  |  | Weighted-Average
|  | Shares |  | Exercise Price |  | Shares |  | Exercise Price |  | Shares |  | Exercise Price
Outstanding at October 1, |  | 3,278 |  | $ | 56.41 |  | 3,312 |  | $ | 51.74 |  | 2,776 |  | $ | 48.51
Granted |  | 694 |  |  | 59.03 |  | 396 |  |  | 76.61 |  | 876 |  |  | 58.25
Exercised |  | (375) |  |  | 36.88 |  | (415) |  |  | 38.04 |  | (220) |  |  | 31.52
Forfeited/Expired |  | (98) |  |  | 70.77 |  | (15) |  |  | 68.32 |  | (120) |  |  | 61.80
Outstanding on September 30, |  | 3,499 |  | $ | 58.62 |  | 3,278 |  | $ | 56.41 |  | 3,312 |  | $ | 51.74
Exercisable on September 30, |  | 2,193 |  | $ | 56.31 |  | 2,167 |  | $ | 50.87 |  | 2,225 |  | $ | 46.66
Shares available to grant |  | 5,140 |  |  |  |  | 5,624 |  |  |  |  | 6,600 |  |  |
Summary of information about outstanding and exercisable stock options | The following table summarizes information about stock options at September 30, 2018 (shares in thousands):
|  | Outstanding Stock Options |  | Exercisable Stock Options
|  |  |  | Weighted-Average |  | Weighted-Average |  |  |  | Weighted-Average
Range of Exercise Prices |  | Options |  | Remaining Life |  | Exercise Price |  | Options |  | Exercise Price
$0.00 to $21.07 |  | 180 |  | 0.2 |  | $ | 21.07 |  | 180 |  | $ | 21.07
$21.07 to $59.76 |  | 2,417 |  | 5.9 |  |  | 55.16 |  | 1,418 |  |  | 53.03
$59.76 to $68.83 |  | 358 |  | 6.3 |  |  | 68.66 |  | 275 |  |  | 68.83
$68.83 to $81.31 |  | 544 |  | 7.1 |  |  | 79.79 |  | 320 |  |  | 79.86
|  | 3,499 |  |  |  |  |  |  | 2,193 |  |  |
Summary of restricted stock awards and changes in restricted stock outstanding | A summary of the status of our restricted stock awards as of September 30, 2018, and of changes in restricted stock outstanding during the fiscal years ended September 30, 2018, 2017 and 2016, is as follows (shares in thousands):
|  | 2018 |  | 2017 |  | 2016
|  |  |  | Weighted-Average |  |  |  | Weighted-Average |  |  |  | Weighted-Average
|  |  |  | Grant Date Fair |  |  |  | Grant Date Fair |  |  |  | Grant Date Fair
|  | Shares |  | Value per Share |  | Shares |  | Value per Share |  | Shares |  | Value per Share
Outstanding at October 1, |  | 659 |  | $ | 70.76 |  | 648 |  | $ | 64.24 |  | 668 |  | $ | 67.03
Granted |  | 626 |  |  | 59.53 |  | 292 |  |  | 78.69 |  | 294 |  |  | 58.25
Vested (1) |  | (258) |  |  | 70.60 |  | (271) |  |  | 63.81 |  | (256) |  |  | 64.75
Forfeited |  | (26) |  |  | 66.73 |  | (10) |  |  | 68.09 |  | (58) |  |  | 63.65
Outstanding on September 30, |  | 1,001 |  | $ | 63.74 |  | 659 |  | $ | 70.76 |  | 648 |  | $ | 64.24
| (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.

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