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Stock-Based Compensation | 3 Months Ended
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Dec. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Stock-Based Compensation | STOCK-BASED COMPENSATION The Johnson Controls International plc 2021 Equity and Incentive Plan authorizes stock options, stock appreciation rights, restricted (non-vested) stock/units, performance share units and other stock-based awards. The Compensation and Talent Development Committee of the Company's Board of Directors determines the types of awards to be granted to individual participants and the terms and conditions of the awards. Awards are typically granted annually in the Company’s fiscal first quarter. A summary of the stock-based awards granted is presented below:
| Three Months Ended December 31, |  |
| 2023 |  |  |  | 2022 |  |
| Number Granted |  | Weighted Average Grant Date Fair Value |  |  |  | Number Granted |  | Weighted Average Grant Date Fair Value |  |
Restricted stock/units | 1,741,102 |  |  | $ | 53.52 |  |  |  |  | 1,614,493 |  |  | $ | 66.73 |  |  |
Performance shares | 370,307 |  |  | 54.13 |  |  |  |  | 339,191 |  |  | 79.54 |  |  |
Stock options | 652,702 |  |  | 13.74 |  |  |  |  | 570,140 |  |  | 18.21 |  |  |
Performance Share Awards The following table summarizes the assumptions used in determining the fair value of performance share units granted:
| Three Months Ended December 31,
| 2023 |  | 2022
Risk-free interest rate | 4.21% |  | 4.04%
Expected volatility of the Company’s stock | 27.2% |  | 33.5%
Stock Options The following table summarizes the assumptions used in determining the fair value of stock options granted:
| Three Months Ended December 31,
| 2023 |  | 2022
Expected life of option (years) | 5.7 |  | 5.8
Risk-free interest rate | 3.86% |  | 3.59%
Expected volatility of the Company’s stock | 29.8% |  | 29.4%
Expected dividend yield on the Company’s stock | 2.77% |  | 2.10%

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