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Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions
We estimated the fair value of each stock option on the date of grant using the Black-Scholes pricing model and the following assumptions:
 
 
2016
 
2015
 
2014
Average risk-free interest rate
 
1.76
%
 
1.61
%
 
1.52
%
Expected dividend yield
 
2.78
%
 
2.25
%
 
2.13
%
Expected volatility
 
29
%
 
31
%
 
41
%
Expected term (years)
 
5.1

 
5.1

 
5.2
Schedule of Share-Based Compensation, Stock Options, Activity
A summary of stock option activity for the year ended September 30, 2016 is:
 
 
Shares
(in thousands)
 
Wtd. Avg.
Exercise
Price
 
Wtd. Avg.
Remaining
Contractual
Term (years)
 
Aggregate
Intrinsic Value
of In-The-Money
Options
(in millions)
Outstanding at October 1, 2015
 
4,574

 
$
85.81

 
 
 
 
Granted
 
1,167

 
104.36

 
 
 
 
Exercised
 
(556
)
 
74.17

 
 
 
 
Forfeited
 
(75
)
 
107.69

 
 
 
 
Cancelled
 
(12
)
 
105.49

 
 
 
 
Outstanding at September 30, 2016
 
5,098

 
90.96

 
6.7
 
$
160.0

Vested or expected to vest at September 30, 2016
 
4,918

 
90.31

 
6.6
 
157.5

Exercisable at September 30, 2016
 
3,049

 
79.15

 
5.4
 
131.7
Schedule of Nonvested Performance Units Activity
A summary of performance share activity for the year ended September 30, 2016 is as follows:
 
 
Performance
Shares
(in thousands)
 
Wtd. Avg.
Grant Date
Share
Fair Value
Outstanding at October 1, 2015
 
226

 
$
103.33

Granted(1)
 
96

 
87.64

Adjustment for performance results achieved(2)
 
(5
)
 
98.15

Vested and issued
 
(67
)
 
98.15

Forfeited
 
(10
)
 
100.01

Outstanding at September 30, 2016
 
240

 
98.73


(1)
Performance shares granted assuming achievement of performance goals at target.
(2)
Adjustments were due to the number of shares vested under the fiscal 2016 awards at the end of the three-year performance period ended September 30, 2015 being lower than the target number of shares.
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Vested and Expected to Vest
The following table summarizes information about performance shares vested during the years ended September 30, 2016, 2015 and 2014:
 
 
2016
 
2015
 
2014
Percent payout
 
93
%
 
187
%
 
180
%
Shares vested (in thousands)
 
67

 
154

 
127

Total fair value of shares vested (in millions)
 
$
7.1

 
$
17.2

 
$
14.2
Schedule of Share-Based Payment Award, Performance-Based Units, Valuation Assumptions
The per-share fair value of performance share awards granted during the years ended September 30, 2016, 2015 and 2014 was $87.64, $103.70 and $108.48, respectively, which we determined using a Monte Carlo simulation and the following assumptions:
 
 
2016
 
2015
 
2014
Average risk-free interest rate
 
1.21
%
 
0.96
%
 
0.60
%
Expected dividend yield
 
2.75
%
 
2.22
%
 
2.11
%
Expected volatility
 
22
%
 
24
%
 
33
%
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
A summary of restricted stock and restricted stock unit activity for the year ended September 30, 2016 is as follows:
 
 
Restricted
Stock and
Restricted
Stock Units
(in thousands)
 
Wtd. Avg.
Grant Date
Share
Fair Value
Outstanding at October 1, 2015
 
163

 
$
98.22

Granted
 
65

 
105.38

Vested
 
(67
)
 
80.17

Forfeited
 
(5
)
 
107.86

Outstanding at September 30, 2016
 
156

 
108.63