Stockholders' Equity

3 Months Ended

Dec. 31, 2015

Equity [Abstract]

Stockholders' Equity

E. Stockholders’ Equity

In fiscal 2007, the Board of Directors authorized Cabot to repurchase up to ten million shares of Cabot’s common stock in the open market or in privately negotiated transactions. This authorization did not have a set expiration date. During the first quarter of fiscal 2015, Cabot repurchased 925,700shares of its common stock under this authorization.

In January 2015, the Board of Directors authorized Cabot to repurchase up to five million shares of its common stock in the open market or in privately negotiated transactions and cancelled the previous authorization. Cabot has repurchased 1,594,300 shares of its common stock under this authorization. As of December 31, 2015,3,405,700shares remain available for repurchase under the current authorization. The Company retired the repurchased shares and recorded the excess of the purchase price over par value to additional paid-in capital until such amount was reduced to zero and then charged the remainder against retained earnings.

During the first three months of both fiscal 2016 and 2015, Cabot paid cash dividends of $0.22 per share of common stock for a total of $14 million.

Noncontrolling interest

The following table illustrates the noncontrolling interest activity for the periods presented:

	2015			2014
	(Dollars in millions)
Balance at September 30	$	104		$	122
Net income attributable to noncontrolling interests		4			4
Noncontrolling interest foreign currency translation    adjustment		(3	)		(2	)
Noncontrolling interest dividends		(9	)		—
Balance at December 31	$	96		$	124

The dividends declared during the three months ended December 31, 2015 were not paid during the period.