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Stock-Based Compensation (Tables)
3 Months Ended
Dec. 31, 2016
Stock-Based Compensation  
Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense

 

 

 

Three Months Ended

 

 

 

December 31,

 

 

 

2016

 

2015

 

 

 

(in thousands)

 

Compensation expense

 

 

 

 

 

Stock options

 

$

1,652 

 

$

3,550 

 

Restricted stock

 

4,249 

 

4,371 

 

 

 

 

 

 

 

 

 

$

5,901 

 

$

7,921 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

2016

 

2015

 

 

 

 

 

 

 

Risk-free interest rate

 

2.0 

%

1.8 

%

Expected stock volatility

 

39.4 

%

37.6 

%

Dividend yield

 

3.4 

%

4.6 

%

Expected term (in years)

 

5.5 

 

5.5 

 

 

Summary of stock option activity under all existing long-term incentive plans

 

 

 

Three Months Ended December 31, 2016

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

Aggregate

 

 

 

 

 

Average

 

Remaining

 

Intrinsic

 

 

 

Shares

 

Exercise

 

Contractual Term

 

Value

 

Options

 

(in thousands)

 

Price

 

(in years)

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at October 1, 2016

 

3,312

 

$

51.74

 

 

 

 

 

Granted

 

324

 

81.31

 

 

 

 

 

Exercised

 

(335

)

39.40

 

 

 

 

 

Forfeited/Expired

 

(11

)

73.36

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2016

 

3,290

 

$

55.84

 

6.15

 

$

72.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2016

 

3,236

 

$

55.61

 

6.10

 

$

72.2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2016

 

2,251

 

$

50.21

 

4.84

 

$

61.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of restricted stock awards and changes in restricted stock outstanding

 

 

 

Three Months Ended

 

 

 

December 31, 2016

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Shares

 

Grant-Date

 

Restricted Stock Awards

 

(in thousands)

 

Fair Value

 

 

 

 

 

 

 

Unvested at October 1, 2016

 

648

 

$

64.24

 

Granted

 

263

 

81.31

 

Vested (1)

 

(270

)

63.79

 

Forfeited

 

(2

)

66.73

 

 

 

 

 

 

 

Unvested at December 31, 2016

 

639

 

$

71.46

 

 

 

 

 

 

 

 

 

 

(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.