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Stock-Based Compensation (Tables) | 6 Months Ended
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Mar. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Share-based Payment Arrangement, Activity | A summary of the stock-based awards granted is presented below:
| Six Months Ended March 31, |  |
| 2024 |  |  |  | 2023 |  |
| Number Granted |  | Weighted Average Grant Date Fair Value |  |  |  | Number Granted |  | Weighted Average Grant Date Fair Value |  |
Restricted stock/units | 1,838,525 |  |  | $ | 53.69 |  |  |  |  | 1,720,662 |  |  | $ | 66.59 |  |  |
Performance shares | 370,307 |  |  | 54.13 |  |  |  |  | 339,191 |  |  | 79.54 |  |  |
Stock options | 652,702 |  |  | 13.74 |  |  |  |  | 570,140 |  |  | 18.21 |  |  |
Schedule of Share-Based Payment Award, Performance Share, Valuation Assumptions | The following table summarizes the assumptions used in determining the fair value of performance share units granted:
| Six Months Ended March 31,
| 2024 |  | 2023
Risk-free interest rate | 4.21% |  | 4.04%
Expected volatility of the Company’s stock | 27.2% |  | 33.5%
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following table summarizes the assumptions used in determining the fair value of stock options granted:
| Six Months Ended March 31,
| 2024 |  | 2023
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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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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