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Capital Stock
12 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Capital Stock CAPITAL STOCK
Common Stock
Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2023, 249 million shares were issued, with 222 million issued and outstanding.
On 15 September 2011, the Board of Directors authorized the repurchase of up to $1.0 billion of our outstanding common stock. This program does not have a stated expiration date. If we repurchase shares pursuant to this authorization, we may do so under Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through repurchase agreements established with one or more brokers. We did not purchase any of our outstanding shares during fiscal year 2023. At 30 September 2023, $485.3 in share repurchase authorization remained available.
A summary of the changes in common shares issued and outstanding in fiscal year 2023 is presented below:
Fiscal Year Ended 30 September202320222021
Number of common shares, beginning of year221,838,696 221,396,755 221,017,459 
Issuance of treasury shares for stock option and award plans361,149 441,941 379,296 
Number of common shares, end of year222,199,845 221,838,696 221,396,755 
Preferred Stock
Authorized preferred stock consisted of 25 million shares with a par value of $1 per share. There were no preferred shares issued or outstanding as of 30 September 2023 and 2022.