Share-Based Compensation Plans (Tables)

12 Months Ended

Sep. 30, 2021

Share-based Payment Arrangement [Abstract]

Fair Value Assumptions and Methodology

The fair value of our stock options granted during fiscal 2021, as shown below, was estimated using the Black-Scholes model with the following weighted-average assumptions:

	Year Ended September 30,
	2021			2020			2019
Weighted-average grant date fair value	$	51.92		$	39.68		$	27.34
Expected term (in years)	6.74			6.96			6.86
Expected volatility	40		%	32		%	26		%
Risk-free rate of return	0.7		%	1.6		%	2.8		%
Dividend yield	1.2		%	1.3		%	1.6		%

A summary of stock option activity is as follows:

	Stock Options	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Aggregate Intrinsic Value (in thousands)
Outstanding at September 30, 2020	807	$	75.87
Granted	113	147.67
Exercised	(132)	54.34
Forfeited or canceled	(9)	107.33
Outstanding at September 30, 2021	779	89.61		6.0	$	29,654
Exercisable at September 30, 2021	510	$	69.52	4.9	$	27,763
Expected to vest at September 30, 2021	269	$	127.60	8.1	$	1,891

	Year Ended September 30,
	2021		2020		2019
Intrinsic value of options exercised	$	14,640	$	19,077	$	20,711
Cash received from exercise of options	7,190		9,350		13,193
Tax benefit from exercise of options	2,848		3,629		4,449
Fair value of options vested	3,892		3,765		4,506

Summary of Restricted Stock Awards and Restricted Stock Unit Awards

A summary of the activity of the restricted stock awards, RSU awards, and PSU awards is presented below:

	Restricted Stock Awards and Units1	Weighted Average Grant Date Fair Value
Nonvested at September 30, 2020	257	$	104.83
Granted2	101	141.70
Vested	(117)	95.82
Forfeited	(8)	118.64
Nonvested at September 30, 2021	233	126.61

1.Includes PSUs.

2.Includes additional PSUs earned relating to the fiscal 2018 grant based on final performance factor.

	Year Ended September 30,
	2021		2020		2019
Weighted average grant date fair value	$	126.61	$	104.83	$	87.36
Total fair value of restricted stock awards and units vested	$	11,702	$	7,481	$	11,060

Share Based Compensation Expense

Total share-based compensation expense and the classification of that expense in the Consolidated Statements of (Loss) Income is as follows:

	Year Ended September 30,
	2021		2020		2019
Cost of sales	$	2,970	$	2,863	$	2,727
Research, development and technical	1,739		2,090		2,150
Selling, general and administrative	14,969		11,443		13,350
Tax benefit	(3,755)		(3,162)		(3,767)
Total share-based compensation expense, net of tax	$	15,923	$	13,234	$	14,460

Total gross share-based compensation expense is attributable to the following awards:

	Year Ended September 30,
	2021		2020		2019
Stock Options	$	4,722	$	4,406	$	4,267
Restricted stock awards and restricted stock units	8,754		8,259		11,400
Performance share units	3,662		1,957		1,279
ESPP	2,540		1,774		1,281