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STOCK-BASED COMPENSATION (Tables) | 12 Months Ended
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Sep. 30, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Summary of Stock-based Compensation Expense Recognized | The following table summarizes all stock-based compensation expense recognized during the following fiscal years:
(Thousands) | 2017 | 2016 | 2015
Stock-based compensation expense: |  |  |
Performance share awards | $ | 2,614 |  | $ | 3,188 |  | $ | 2,473 |
Restricted and non-restricted stock | 1,732 |  | 2,161 |  | 1,899 |
Deferred retention stock | 1,461 |  | 1,885 |  | 5,273 |
Compensation expense included in operation and maintenance expense | 5,807 |  | 7,234 |  | 9,645 |
Income tax benefit (1) | (2,372 | ) | (2,955 | ) | (3,940 | )
Total, net of tax | $ | 3,435 |  | $ | 4,279 |  | $ | 5,705 |
(1) | Excludes additional tax benefit related to delivered shares of $1.3 million, $1.8 million and $881,000 as of September 30, 2017, 2016 and 2015, respectively.
Summary of Performance Share Activity | The following table summarizes the performance share activity under the stock award and incentive plans for the past three fiscal years:
| Shares (1) | Weighted Average Grant Date Fair Value | Total Fair Value of Vested Shares (in Thousands)
Non-vested and outstanding at September 30, 2014 | 247,536 |  |  | $18.30 |  |  | — |  |
Granted | 102,790 |  |  | $28.25 |  |  | — |  |
Vested (2) | (112,446 | ) |  | $17.10 |  |  | $ | 4,318 |  |
Cancelled/forfeited (3) | (23,416 | ) |  | $17.98 |  |  | — |  |
Non-vested and outstanding at September 30, 2015 | 214,464 |  |  | $23.40 |  |  | — |  |
Granted | 115,480 |  |  | $27.37 |  |  | — |  |
Vested (4) | (137,053 | ) |  | $21.40 |  |  | $ | 5,657 |  |
Cancelled/forfeited (5) | (12,975 | ) |  | $23.40 |  |  | — |  |
Non-vested and outstanding at September 30, 2016 | 179,916 |  |  | $27.47 |  |  | — |  |
Granted | 96,507 |  |  | $33.57 |  |  | — |  |
Vested (6) | (95,407 | ) |  | $28.88 |  |  | $ | 4,179 |  |
Cancelled/forfeited | (24,429 | ) |  | $29.14 |  |  | — |  |
Non-vested and outstanding at September 30, 2017 | 156,587 |  |  | $30.12 |  |  | — |  |
(1) | The number of common shares issued related to certain performance shares may range from zero to 150 percent of the number of shares shown in the table above based on the Company’s achievement of performance goals.
(2) | As certified by the Company’s Leadership and Compensation Committee on November 10, 2015, the number of common shares related to performance shares earned was 120 percent, or 112,918 shares, excluding accumulated dividends. The number represented on this line is the target number of 100 percent. See footnote (1) above. Also included in the vested number are 9,364 shares certified by the Leadership and Compensation Committee on November 11, 2014 and 8,984 shares certified by the Leadership and Compensation Committee on November 10, 2015.
(3) | As certified by the Company’s Leadership and Compensation Committee on November 10, 2015, 9,364 shares were canceled due to not achieving a certain performance target. The remainder were forfeitures due to individuals departing the company.
(4) | As certified by the Company’s Leadership and Compensation Committee on November 15, 2016, the number of common shares earned related to TSR performance was 85 percent or 55,702 shares, the number of common shares earned related to NFE performance was 150 percent or 71,808 shares, and the number of common shares earned related to Performance Based Restricted Stock was 100 percent or 23,649 shares. Each award earned excludes accumulated dividends. The number represented on this line is the target number of 100 percent.
(5) | As certified by the Company’s Leadership and Compensation Committee on November 15, 2016, 9,366 shares were canceled due to not achieving a certain performance target. The remainder were forfeitures due to individuals departing the company.
(6) | As certified by the Company’s Leadership and Compensation Committee on November 14, 2017, the number of common shares earned related to TSR performance was 108.44 percent or 39,595 shares, the number of common shares earned related to NFE performance was 119 percent or 36,498 shares and the number of common shares earned related to Performance Based Restricted Stock was 100 percent or 28,223 shares. Each award earned excludes accumulated dividends. The number represented on this line is the target number of 100 percent.
Summary of Restricted Stock Activity | The following table summarizes the restricted stock activity under the stock award and incentive plans for the past three fiscal years:
| Shares |  | Weighted Average Grant Date Fair Value | Total Fair Value of Vested Shares (in Thousands)
Non-vested and outstanding at September 30, 2014 | 41,491 |  |  | $22.60 |  |  | — |  |
Granted | 61,972 |  |  | $29.41 |  |  | — |  |
Vested | (18,170 | ) |  | $24.45 |  |  | $ | 510 |  |
Cancelled/forfeited | (3,801 | ) |  | $26.79 |  |  | — |  |
Non-vested and outstanding at September 30, 2015 | 81,492 |  |  | $27.17 |  |  | — |  |
Granted | 41,909 |  |  | $30.03 |  |  | — |  |
Vested | (48,089 | ) |  | $26.66 |  |  | $ | 1,469 |  |
Cancelled/forfeited | (2,241 | ) |  | $29.21 |  |  | — |  |
Non-vested and outstanding at September 30, 2016 | 73,071 |  |  | $29.09 |  |  | — |  |
Granted | 28,734 |  |  | $35.79 |  |  |  |
Vested | (38,752 | ) |  | $28.92 |  |  | $ | 1,344 |  |
Cancelled/forfeited | (11,899 | ) |  | $31.56 |  |  |  |
Non-vested and outstanding at September 30, 2017 | 51,154 |  |  | $32.40 |  |  | — |  |
Summary of Deferred Retention Stock Award | The following table summarizes the deferred retention stock award under the stock award and incentive plans for the past three fiscal years:
| Shares | Weighted Average Grant Date Fair Value | Total Fair Value of Vested Shares (in Thousands)
Outstanding at September 30, 2014 | 276,782 |  |  | $21.95 |  |  | — |  |
Granted/Vested | 462,790 |  |  | $29.32 |  |  | — |  |
Delivered | (95,098 | ) |  | $23.62 |  |  | $ | 2,519 |  |
Forfeited | (11,744 | ) |  | $24.69 |  |  | — |  |
Outstanding at September 30, 2015 | 632,730 |  |  | $27.03 |  |  | — |  |
Granted/Vested | 159,831 |  |  | $30.37 |  |  | — |  |
Delivered | (121,764 | ) |  | $20.31 |  |  | $ | 3,751 |  |
Forfeited | (8,318 | ) |  | $28.14 |  |  | — |  |
Outstanding at September 30, 2016 | 662,479 |  |  | $29.06 |  |  | — |  |
Granted/Vested | 63,977 |  |  | $35.64 |  |  | — |  |
Delivered | (53,878 | ) |  | $23.11 |  |  | $ | 1,774 |  |
Outstanding at September 30, 2017 | 672,578 |  |  | $29.54 |  |  | — |  |
Summary of Stock Option Activity | The following table summarizes the stock option activity:
| Shares | Weighted Average Exercise Price
Outstanding at September 30, 2014 | 48,250 |  |  | $15.00 |
Exercised | (48,250 | ) |  | $15.00 |
Outstanding at September 30, 2015 | — |  |  | $0.00 |
Schedule of Nonemployee Director Stock Award Plan Activity | The following summarizes non-employee director share awards for the past three fiscal years:
| 2017 | 2016 | 2015
Shares granted | 27,972 | (1) | 27,481 | 26,122
Weighted average grant date fair value | $35.59 |  | $32.75 | $30.63
(1) | $280,000 of expense remains as of September 30, 2017, to be recognized through December 31, 2017.

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