XML 35 R21.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Equity | 12 Months Ended
--- | ---
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract] |
Equity | EQUITY Stock Compensation We grant restricted stock units ("RSUs") and performance stock units ("PSUs") to eligible participants under our 2021 Omnibus Incentive Plan, which was approved by the Board of Directors and stockholders. The RSUs granted to employees vest ratably over three to five years and one year for members of the board of directors, in each case from the grant date. PSU vesting is subject to the achievement of certain performance and market conditions and the number of PSUs earned could vary from 0% to 200% of the number of PSUs awarded. The PSUs will vest at the end of a three year-performance period. We issue new shares to satisfy our obligations under these plans. The fair value of each RSU and PSU is calculated at the date of the grant.
Table 12.1: Restricted Stock Units and Performance Based Stock Units
| Restricted Stock Units |  | Performance Stock Units |  | Total |  | Weighted Average Grant Date Fair Value
Non-vested outstanding units as of September 30, 2021 | 630,443 |  |  | 85,004 |  |  | 715,447 |  |  | $ | 74.06 |
Granted | 361,606 |  |  | 103,640 |  |  | 465,246 |  |  | 79.75 |
Cancelled/Forfeited | (49,793) |  |  | (329) |  |  | (50,122) |  |  | 81.10 |
Vested | (389,613) |  |  | — |  |  | (389,613) |  |  | 74.20 |
Non-vested outstanding units as of September 30, 2022 | 552,643 |  |  | 188,315 |  |  | 740,958 |  |  | 77.08 |
In addition to the non-vested shares, as part of individual elections made in the deferred compensation plan, certain directors and employees held approximately 276,000 vested but not issued awards as of September 30, 2022. These vested unissued units are included in outstanding shares for basic and diluted earnings per share, but are not reported as issued and outstanding in the Consolidated Balance Sheets and Consolidated Statements of Changes in Shareholders' Equity. As of September 30, 2022, the intrinsic value of RSUs and PSUs expected to vest was $38.4 million. For the years ended September 30, 2022, 2021, and 2020, the Company recognized share-based compensation expenses of $30.5 million, $28.6 million, and $23.7 million, respectively. The income tax benefit recorded on these charges for the same years was $6.9 million, $13.5 million, and $8.0 million, respectively. The expenses related to share-based compensation awards are recorded in selling and administrative expenses. As of September 30, 2022, there was $47.2 million of total estimated unrecognized compensation cost related to non-vested RSUs and PSUs. This cost is expected to be recognized over four years. The weighted-average grant-date fair value of RSUs granted in years ended September 30, 2021 and 2020, was $76.80 and $74.26, respectively. The total fair value of RSUs vested during the years ended September 30, 2022, 2021, and 2020, was $23.5 million, $28.9 million, and $23.6 million, respectively. Stock Repurchase Programs Under a resolution adopted in March 2020, the Board of Directors authorized the purchase, at management's discretion, of up to $200.0 million of our common stock. During the years ended September 30, 2022, 2021, and 2020, the Company purchased 1.4 million, 0.1 million, and 2.8 million common shares at a cost of $96.1 million, $3.4 million, and $167.0 million, respectively. As of September 30, 2022, $50.6 million remained available for future stock repurchases. Accumulated Other Comprehensive Income All amounts recorded in accumulated other comprehensive loss are related to the our foreign currency translations and interest rate swap, net of tax. The following table shows changes in accumulated other comprehensive loss.
Table 12.2: Details of Changes in Accumulated Other Comprehensive Loss by Category
| Foreign currency translation adjustment |  | Net unrealized loss on derivatives, net of tax |  | Total
| (in thousands)
Balance as of September 30, 2019 | $ | (45,380) |  |  | $ | — |  |  | $ | (45,380) |
Other comprehensive income before reclassifications | 2,742 |  |  | — |  |  | 2,742 |
Net current period other comprehensive losses | 2,742 |  |  | — |  |  | 2,742 |
Balance as of September 30, 2020 | (42,638) |  |  | — |  |  | (42,638) |
Other comprehensive income before reclassifications | 3,033 |  |  | (811) |  |  | 2,222 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 508 |  |  | 508 |
Net current period other comprehensive income | 3,033 |  |  | (303) |  |  | 2,730 |
Balance as of September 30, 2021 | (39,605) |  |  | (303) |  |  | (39,908) |
Other comprehensive income before reclassifications | (17,504) |  |  | 23,004 |  |  | 5,500 |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 447 |  |  | 447 |
Net current period other comprehensive income | (17,504) |  |  | 23,451 |  |  | 5,947 |
Balance as of September 30, 2022 | $ | (57,109) |  |  | $ | 23,148 |  |  | $ | (33,961) |

X
- Definition The entire disclosure for share-based payment arrangement. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI https://asc.fasb.org/topic&trid=2228938 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (l) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
Name: | us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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