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Stock-Based Compensation (Tables) | 12 Months Ended
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Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount | The following table summarizes stock-based compensation related charges and benefits (in millions):
|  | Year Ended September 30,
| 2022 |  | 2021 |  | 2020
Compensation expense |  | $ | 104 |  |  | $ | 97 |  |  | $ | 66 |
Income tax benefit resulting from share-based compensation arrangements |  | 26 |  |  | 24 |  |  | 16 |
Tax impact from exercise and vesting of equity settled awards |  | 12 |  |  | 12 |  |  | — |
Summary of Nonvested Restricted Stock Awards | A summary of non-vested restricted stock awards at September 30, 2022, and changes for the year then ended, is presented below:
| Weighted Average Price |  | Shares/Units Subject to Restriction
Non-vested, September 30, 2021 | $ | 44.06 |  |  | 3,334,437 |
Granted | 74.63 |  |  | 1,508,550 |
Vested | 42.52 |  |  | (1,497,497) |
Forfeited | 56.58 |  |  | (396,296) |
Non-vested, September 30, 2022 | $ | 58.78 |  |  | 2,949,194 |
Schedule of Share-Based Payment Award, Performance Share, Valuation Assumptions | The following table summarizes the assumptions used in determining the fair value of stock options granted:
| Year Ended September 30,
| 2022 |  | 2021 |  | 2020
Risk-free interest rate | 0.99% |  | 0.20% |  | 1.60%
Expected volatility of the Company’s stock | 30.00% |  | 30.90% |  | 21.80%
Summary of Nonvested PSUs | A summary of the status of the Company’s non-vested PSUs at September 30, 2022, and changes for the year then ended, is presented below:
| Weighted Average Price |  | Shares/Units Subject to PSU
Non-vested, September 30, 2021 | $ | 43.11 |  |  | 1,196,318 |
Granted | 82.88 |  |  | 482,030 |
Vested | 36.35 |  |  | (402,465) |
Forfeited | 60.02 |  |  | (132,812) |
Non-vested, September 30, 2022 | $ | 60.30 |  |  | 1,143,071 |
Assumptions Used in Black-Scholes Option Valuation Model | The following table summarizes the assumptions used in determining the fair value of stock options granted:
| Year Ended September 30,
| 2022 |  | 2021 |  | 2020
Expected life of option (years) | 6.0 |  | 6.5 |  | 6.5
Risk-free interest rate | 1.35% |  | 0.60% |  | 1.67%
Expected volatility of the Company’s stock | 27.80% |  | 27.60% |  | 22.40%
Expected dividend yield on the Company’s stock | 1.71% |  | 2.28% |  | 2.49%
Summary of Stock Option Activity | A summary of stock option activity at September 30, 2022, and changes for the year then ended, is presented below:
| Weighted Average Option Price |  | Shares Subject to Option |  | Weighted Average Remaining Contractual Life (years) |  | Aggregate Intrinsic Value (in millions)
Outstanding, September 30, 2021 | $ | 38.84 |  |  | 5,951,011 |  |  |  |  |
Granted | 79.54 |  |  | 548,398 |  |  |  |  |
Exercised | 33.77 |  |  | (542,903) |  |  |  |  |
Forfeited or expired | 50.97 |  |  | (272,659) |  |  |  |  |
Outstanding, September 30, 2022 | $ | 42.46 |  |  | 5,683,847 |  |  | 5.7 |  | $ | 52 |
Exercisable, September 30, 2022 | $ | 37.86 |  |  | 4,082,897 |  |  | 4.1 |  | $ | 47 |
The following table summarizes additional stock option information:
|  | Year Ended September 30,
| 2022 |  | 2021 |  | 2020
Weighted-average grant-date fair value of options granted |  | $ | 18.59 |  |  | $ | 9.36 |  |  | $ | 7.29 |
Intrinsic value of options exercised (in millions) |  | 19 |  |  | 94 |  |  | 30 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + 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 (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + 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 (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- 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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- 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
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