Share-Based Compensation

9 Months Ended

Jun. 30, 2011

Share-Based Compensation [Abstract]

Share-Based Compensation

Note 7 — Share-Based Compensation

The Company grants share-based awards under the 2004 Employee and Director Equity-Based Compensation Plan (the “2004 Plan”), which provides long-term incentive compensation to employees and directors. The Company believes that such awards align the interests of its employees and directors with those of its shareholders.

The fair value of share-based payments is recognized as compensation expense in net income. For the three months ended June 30, 2011 and 2010, compensation expense charged to income was $18,482 and $16,650, respectively. For the nine months ended June 30, 2011 and 2010, compensation expense was $72,202 and $69,117, respectively. Share-based compensation attributable to discontinued operations was not material.

The amount of unrecognized compensation expense for all non-vested share-based awards as of June 30, 2011 was approximately $120,022, which is expected to be recognized over a weighted-average remaining life of approximately 2.2 years.

The fair values of stock appreciation rights granted during the annual share-based grants in November of 2010 and 2009, respectively, were estimated on the date of grant using a lattice-based binomial valuation model based on the following assumptions:

	2011			2010
Risk-free interest rate		2.40	%		2.60	%
Expected volatility		24.00	%		28.00	%
Expected dividend yield		2.14	%		1.96	%
Expected life	7.8 years			6.5 years
Fair value derived	$	16.80		$	19.70