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STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Sep. 30, 2020
Share-based Payment Arrangement [Abstract]  
Summary of Compensation Cost for Stock-Based Payment Arrangements
A summary of compensation cost for stock-based payment arrangements recognized in drilling services operating expense, research and development expense and selling, general and administrative expense in fiscal years 2020, 2019 and 2018 is as follows:
 
September 30,
(in thousands)
2020
 
2019
 
2018
Stock-based compensation expense
 
 
 
 
 
Stock options
$
1,753

 
$
3,721

 
$
7,913

Restricted stock
30,605

 
26,149

 
23,774

Performance share units
7,454

 
4,422

 
—

Stock-based compensation benefit included in restructuring charges
(3,483
)
 
—

 
—

 
$
36,329

 
$
34,292

 
$
31,687
Weighted-Average Assumptions Used in Calculation of Fair Value of Awards
 
2018
Risk-free interest rate (1)
2.2
%
Expected stock volatility (2)
36.1
%
Dividend yield (3)
4.7
%
Expected term (in years) (4)
6.0

(1)
The risk-free interest rate is based on U.S. Treasury securities for the expected term of the option.
(2)
Expected volatilities are based on the daily closing price of our stock based upon historical experience over a period which approximates the expected term of the option.
(3)
The dividend yield is based on our current dividend yield.
(4)
The expected term of the options granted represents the period of time that they are expected to be outstanding. We estimate term of option granted based on historical experience with grants and exercise.
The weighted-average fair value calculations for performance share units granted within the fiscal period are based on the following weighted-average assumptions set forth in the table below. 
 
2020
 
2019
Risk-free interest rate (1)
1.6
%
 
2.7
%
Expected stock volatility (2)
34.8
%
 
35.9
%
Expected term (in years)
3.2

 
3.0

(1)
The risk-free interest rate is based on U.S. Treasury securities for the expected term of the performance share units.
(2)
Expected volatilities are based on the daily closing price of our stock based upon historical experience over a period which approximates the expected term of the performance share units.
Summary of Stock Option Activity
The following summary reflects the stock option activity for our common stock and related information for fiscal years 2020, 2019 and 2018:
 
2020
 
2019
 
2018
(shares in thousands)
Shares
    
Weighted-Average Exercise Price
    
Shares
    
Weighted-Average Exercise Price
    
Shares
    
Weighted-Average Exercise Price
Outstanding at October 1,
3,238

 
$
60.86

 
3,499

 
$
58.62

 
3,278

 
$
56.41

Granted
—

 
—

 
—

 
—

 
694

 
59.03

Exercised
(201
)
 
38.02

 
(217
)
 
24.46

 
(375
)
 
36.88

Forfeited/Expired
(174
)
 
61.76

 
(44
)
 
62.14

 
(98
)
 
70.77

Outstanding on September 30, 
2,863

 
$
62.41

 
3,238

 
$
60.86

 
3,499

 
$
58.62

Exercisable on September 30, 
2,516

 
$
62.38

 
2,482

 
$
60.38

 
2,193

 
$
56.31
Summary of Information About Stock Options
The following table summarizes information about stock options at September 30, 2020 (shares in thousands):
 
Outstanding Stock Options
 
Exercisable Stock Options
Range of Exercise Prices
Shares
    
Weighted-Average Remaining Life
    
Weighted-Average Exercise Price
    
Shares
    
Weighted-Average Exercise Price
$40.00 to $55.00
472

 
1.82
 
$
51.86

 
462

 
$
51.83

$55.00 to $70.00
1,918

 
5.07
 
60.56

 
1,641

 
60.82

$70.00 to $85.00
473

 
4.92
 
80.47

 
412

 
80.43

 
2,863

 
 
 
 
 
2,515

 
 
Summary of the Status of Restricted Stock Awards and Changes in Restricted Stock Outstanding
A summary of the status of our restricted stock awards as of September 30, 2020, and of changes in restricted stock outstanding during the fiscal years ended September 30, 2020, 2019 and 2018, is as follows:
 
2020
 
2019
 
2018
(shares in thousands)
Shares
 
Weighted-Average Grant Date Fair Value per Share
 
Shares
 
Weighted-Average Grant Date Fair Value per Share
 
Shares
 
Weighted-Average Grant Date Fair Value per Share
Non-vested restricted stock outstanding at October 1,
1,085

 
$
61.28

 
1,001

 
$
63.74

 
659

 
$
70.76

Granted (1)
781

 
39.99

 
475

 
58.45

 
626

 
59.53

Vested (2)
(501
)
 
59.46

 
(371
)
 
64.32

 
(258
)
 
70.60

Forfeited
(85
)
 
48.98

 
(20
)
 
60.85

 
(26
)
 
66.73

Non-vested restricted stock outstanding at September 30, 
1,280

 
$
49.81

 
1,085

 
$
61.28

 
1,001

 
$
63.74

(1)
The number of restricted stock awards granted includes phantom shares that confer the benefits of owning company stock without the actual ownership or transfer of any shares. There were 20,616 phantom shares granted during fiscal year 2020.
(2)
The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.
A summary of the status of our performance share units as of September 30, 2020 and changes in non-vested performance share units outstanding during the fiscal year ended September 30, 2020 is presented below:
 
2020
 
2019
(in thousands, except per share amounts)
Shares
 
Weighted-Average Grant Date Fair Value per Share
 
Shares
 
Weighted-Average Grant Date Fair Value per Share
Non-vested performance share units outstanding at September 30, 2019
145

 
$
62.66

 
—

 
$
—

Granted
259

 
43.40

 
145

 
62.66

Forfeited
(67
)
 
46.35

 
—

 
—

Non-vested performance share units outstanding at September 30, 2020
337

 
$
51.09

 
145

 
$
62.66