XML 108 R20.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Share-Based Compensation | 12 Months Ended
--- | ---
Sep. 30, 2015
Share-based Compensation [Abstract] |
SHARE-BASED COMPENSATION |
| 11. | Share-Based Compensation
The Company provides compensation benefits to certain key employees under several share-based plans providing for employee stock options and/or performance-accelerated restricted shares (restricted shares), and to non-employee directors under a non-employee directors compensation plan. Performance-Accelerated Restricted Share Awards The performance-accelerated restricted shares (restricted shares) have a five-year term with accelerated vesting if certain targets based on market conditions are achieved. In these cases, if it is probable that the performance condition will be met, the Company recognizes compensation cost on a straight-line basis over the shorter performance period; otherwise, it will recognize compensation cost over the longer service period. Compensation cost for the majority of the outstanding restricted share awards is being recognized over the shorter performance period as it is probable the performance condition will be met. The restricted share award grants were valued at the stock price on the date of grant. Pretax compensation expense related to the restricted share awards for continuing operations was $4.0 million, $4.1 million and $4 million for 2015, 2014 and 2013, respectively. The following summary presents information regarding outstanding restricted share awards as of September 30, 2015, and changes during the period then ended:
|  |  |  | Weighted |
|  | Shares |  | Average Price |
Nonvested at September 30, 2014 |  |  | 332,340 |  | $ | 32.23 |
Granted |  |  | 123,501 |  |  | 34.33 |
Vested |  |  | (129,305) |  |  | 26.66 |
Cancelled |  |  | – |  |  | – |
Nonvested at September 30, 2015 |  |  | 326,536 |  | $ | 35.29 |
Non-Employee Directors Plan The non-employee directors compensation plan provides to each non-employee director a retainer of 900 common shares per quarter. Compensation expense related to the non-employee director grants was $0.8 million, $0.7 million and $0.6 million for 2015, 2014 and 2013, respectively. Stock Option Plans The Company’s stock option awards have generally been subject to graded vesting over a three-year service period. All outstanding options were granted at prices equal to fair market value at the date of grant. Beginning in fiscal 2004, the options granted have had a five-year contractual life from date of issuance. The Company recognizes compensation cost on a straight-line basis over the requisite service period for the entire award. The fair value of each option award is estimated as of the date of grant using the Black-Scholes option pricing model. Expected volatility is based on historical volatility of the Company’s stock calculated over the expected term of the option. The Company utilizes historical company data to develop its expected term assumption. The risk-free rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the date of grant. Information regarding stock options awarded under the option plans is as follows:
|  | FY 2015 |  | FY 2014 |  | FY 2013 |
|  |  |  |  | Estimated |  |  |  |  | Estimated |  |  |  |  | Estimated |
|  |  |  |  | Weighted |  |  |  |  | Weighted |  |  |  |  | Weighted |
|  | Shares |  | Avg. Price |  | Shares |  | Avg. Price |  | Shares |  | Avg. Price |
Outstanding October 1, |  |  | — |  | $ | — |  |  | 67,350 |  | $ | 37.39 |  |  | 125,816 |  | $ | 36.29 |
Granted |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Exercised |  |  | — |  | $ | — |  |  | — |  | $ | — |  |  | (51,116) |  | $ | 34.70 |
Cancelled |  |  | — |  | $ | — |  |  | (67,350) |  | $ | 37.39 |  |  | (7,350) |  | $ | 37.30 |
Outstanding September 30, |  |  | — |  | $ | — |  |  | — |  | $ | — |  |  | 67,350 |  | $ | 37.39 |
At September 30, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Reserved for future grant |  |  | 500,000 |  |  |  |  |  | 500,000 |  |  |  |  |  | 500,000 |  |  |  |
Exercisable |  |  | — |  | $ | — |  |  | — |  | $ | — |  |  | 67,350 |  | $ | 37.39 |
The aggregate intrinsic value of stock options exercised during 2013 was $0.3 million; no stock options were exercised during 2015 or 2014. No stock options were granted during 2015, 2014 or 2013, and no stock options were outstanding at September 30, 2015 or 2014. Total Share-Based Compensation The total share-based compensation cost that has been recognized in results of operations and included within SG&A from continuing operations was $4.8 million, $4.8 million and $4.6 million for 2015, 2014 and 2013, respectively. The total income tax benefit recognized in results of operations for share-based compensation arrangements was $1.6 million, $1.3 million and $1.3 million for 2015, 2014 and 2013, respectively. The Company has elected to use tax law ordering rules when calculating the income tax benefit associated with its share-based payment arrangements. In addition, the Company elected to use the simplified method of calculating the pool of excess tax benefits available to absorb tax deficiencies recognized. As of September 30, 2015, there was $5.0 million of total unrecognized compensation cost related to share-based compensation arrangements. That cost is expected to be recognized over a weighted-average period of 1.5 years.

X
- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

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