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Stock-Based Compensation (Tables)
3 Months Ended
Dec. 31, 2014
Stock-Based Compensation  
Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense

 

 

 

 

Three Months Ended

 

 

 

December 31,

 

 

 

2014

 

2013

 

 

 

(in thousands)

 

 

 

 

 

Compensation expense

 

 

 

 

 

Stock options

 

$

3,062 

 

$

3,653 

 

Restricted stock

 

3,920 

 

3,357 

 

 

 

$

6,982 

 

$

7,010 

 

 

Summary of weighted-average assumptions utilized in determining the fair value of options granted

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Risk-free interest rate

 

1.72 

%

1.58 

%

Expected stock volatility

 

36.92 

%

52.55 

%

Dividend yield

 

3.92 

%

3.14 

%

Expected term (in years)

 

5.5 

 

5.5 

 

 

Summary of stock option activity

 

 

 

Three Months Ended December 31, 2014

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

Aggregate

 

 

 

 

 

Average

 

Remaining

 

Intrinsic

 

 

 

Shares

 

Exercise

 

Contractual Term

 

Value

 

Options

 

(in thousands)

 

Price

 

(in years)

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at October 1, 2014

 

2,629

 

$

43.46

 

 

 

 

 

Granted

 

420

 

68.83

 

 

 

 

 

Exercised

 

(104

)

16.09

 

 

 

 

 

Forfeited/Expired

 

(14

)

67.10

 

 

 

 

 

Outstanding at December 31, 2014

 

2,931

 

$

47.96

 

5.9

 

$

60.7

 

Vested and expected to vest at December 31, 2014

 

2,924

 

$

47.91

 

5.9

 

$

60.7

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2014

 

2,168

 

$

41.35

 

4.8

 

$

57.8

 

 

Summary of restricted stock awards and changes in restricted stock outstanding

 

 

 

 

Three Months Ended

 

 

 

December 31, 2014

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Shares

 

Grant-Date

 

Restricted Stock Awards

 

(in thousands)

 

Fair Value

 

 

 

 

 

 

 

Unvested at October 1, 2014

 

634

 

$

64.03

 

Granted

 

275

 

68.83

 

Vested (1)

 

(214

)

54.18

 

Forfeited

 

(6

)

65.95

 

Unvested at December 31, 2014

 

689

 

$

66.93

 

 

(1)

The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.