XML 57 R38.htm IDEA: XBRL DOCUMENT
v3.21.2

STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Compensation Cost for Stock-Based Payment Arrangements | A summary of compensation cost for stock-based payment arrangements recognized in drilling services operating expense, research and development expense and selling, general and administrative expense on our Consolidated Statements of Operations, in fiscal years 2021, 2020 and 2019 is as follows:
| September 30,
(in thousands) | 2021 |  | 2020 |  | 2019
Stock-based compensation expense |  |  |  |  |
Drilling services operating | $ | 5,927 |  |  | $ | 9,086 |  |  | $ | 7,132 |
Research and development | 1,271 |  |  | 765 |  |  | 328 |
Selling, general and administrative | 20,660 |  |  | 29,960 |  |  | 26,832 |
Restructuring charges | — |  |  | (3,482) |  |  | — |
| $ | 27,858 |  |  | $ | 36,329 |  |  | $ | 34,292 |
Schedule of the Status of Restricted Stock Awards and Changes in Restricted Stock Outstanding | A summary of the status of our restricted stock awards as of September 30, 2021, and of changes in restricted stock outstanding during the fiscal years ended September 30, 2021, 2020 and 2019, is as follows:
| 2021 |  | 2020 |  | 2019
(shares in thousands) | Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Shares |  | Weighted-Average Grant Date Fair Value per Share
Non-vested restricted stock outstanding at October 1, | 1,280 |  |  | $ | 49.81 |  |  | 1,085 |  |  | $ | 61.28 |  |  | 1,001 |  |  | $ | 63.74 |
Granted 1 | 701 |  |  | 25.61 |  |  | 781 |  |  | 39.99 |  |  | 475 |  |  | 58.45 |
Vested 2 | (534) |  |  | 51.79 |  |  | (501) |  |  | 59.46 |  |  | (371) |  |  | 64.32 |
Forfeited | (35) |  |  | 35.76 |  |  | (85) |  |  | 48.98 |  |  | (20) |  |  | 60.85 |
Non-vested restricted stock outstanding at September 30, | 1,412 |  |  | $ | 37.36 |  |  | 1,280 |  |  | $ | 49.81 |  |  | 1,085 |  |  | $ | 61.28 |
(1)Restricted stock shares include restricted phantom stock units under our Director Deferred Compensation Plan. These phantom stock units confer the economic benefits of owning company stock without the actual ownership, transfer or issuance of any shares. During the fiscal year ended September 30, 2021, 18,906 restricted phantom stock units were granted and 20,616 restricted phantom stock units vested during the same period. (2)The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements. A summary of the status of our performance units as of September 30, 2021, 2020 and 2019 and changes in non-vested performance units outstanding during the fiscal years ended September 30, 2021, 2020 and 2019 is presented below:
| 2021 |  | 2020 |  | 2019
(in thousands, except per share amounts) | Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Shares |  | Weighted-Average Grant Date Fair Value per Share |  | Shares |  | Weighted-Average Grant Date Fair Value per Share
Non-vested performance units outstanding at October 1, | 337 |  |  | $ | 51.09 |  |  | 145 |  |  | $ | 62.66 |  |  | $ | — |  |  | $ | — |
Granted | 313 |  |  | 29.77 |  |  | 259 |  |  | 43.40 |  |  | 145 |  |  | 62.66 |
Dividend rights performance units credited | 60 |  |  | 49.64 |  |  | — |  |  | — |  |  | — |  |  | — |
Forfeited | (11) |  |  | 43.40 |  |  | (67) |  |  | 46.35 |  |  | — |  |  | — |
Non-vested performance units outstanding September 30,1 | 699 |  |  | $ | 41.55 |  |  | 337 |  |  | $ | 51.09 |  |  | $ | 145 |  |  | $ | 62.66 |
(1) Of the total non-vested performance units at the end of the period, specified performance criteria has been achieved with respect to 88,440 performance units which is calculated based on the payout percentage for the completed performance period. The vesting and number of the remainder of non-vested performance units reflected at the end of the period is contingent upon our achievement of specified target performance criteria. If we meet the specified maximum performance criteria, approximately 547,392 additional performance units could vest or become eligible to vest.
Schedule of Weighted-Average Assumptions Used in Calculation of Fair Value of Awards | The weighted-average fair value calculations for performance units granted within the fiscal period are based on the following weighted-average assumptions set forth in the table below.
| 2021 |  | 2020 |  | 2019
Risk-free interest rate 1 | 0.2 | % |  | 1.6 | % |  | 2.7 | %
Expected stock volatility 2 | 62.3 | % |  | 34.8 | % |  | 35.9 | %
Expected term (in years) | 3.1 |  | 3.2 |  | 3.0
(1)The risk-free interest rate is based on U.S. Treasury securities for the expected term of the performance units. (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 performance units.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsSharebasedPaymentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration