STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Sep. 30, 2018

STOCK-BASED COMPENSATION

Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense

	September 30,
	2018		2017		2016
	(in thousands)
Compensation expense
Stock options	$	7,913	$	7,439	$	8,290
Restricted stock		23,774		18,744		16,093
	$	31,687	$	26,183	$	24,383

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

	2018		2017		2016
Risk-free interest rate (1)	2.2	%	2.0	%	1.8	%
Expected stock volatility (2)	36.1	%	38.9	%	37.6	%
Dividend yield (3)	4.7	%	3.7	%	4.6	%
Expected term (in years) (4)	6.0		5.5		5.5

(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 expect to be outstanding. We estimate term of option granted based on historical experience with grants and exercise.

Summary of stock option activity

The following summary reflects the stock option activity for our common stock and related information for fiscal years 2018, 2017 and 2016 (shares in thousands):

	2018			2017			2016
		Weighted-Average			Weighted-Average			Weighted-Average
	Shares	Exercise Price		Shares	Exercise Price		Shares	Exercise Price
Outstanding at October 1,	3,278	$	56.41	3,312	$	51.74	2,776	$	48.51
Granted	694		59.03	396		76.61	876		58.25
Exercised	(375)		36.88	(415)		38.04	(220)		31.52
Forfeited/Expired	(98)		70.77	(15)		68.32	(120)		61.80
Outstanding on September 30,	3,499	$	58.62	3,278	$	56.41	3,312	$	51.74
Exercisable on September 30,	2,193	$	56.31	2,167	$	50.87	2,225	$	46.66
Shares available to grant	5,140			5,624			6,600

Summary of information about outstanding and exercisable stock options

The following table summarizes information about stock options at September 30, 2018 (shares in thousands):

	Outstanding Stock Options				Exercisable Stock Options
		Weighted-Average	Weighted-Average			Weighted-Average
Range of Exercise Prices	Options	Remaining Life	Exercise Price		Options	Exercise Price
$0.00 to $21.07	180	0.2	$	21.07	180	$	21.07
$21.07 to $59.76	2,417	5.9		55.16	1,418		53.03
$59.76 to $68.83	358	6.3		68.66	275		68.83
$68.83 to $81.31	544	7.1		79.79	320		79.86
	3,499				2,193

Summary of restricted stock awards and changes in restricted stock outstanding

A summary of the status of our restricted stock awards as of September 30, 2018, and of changes in restricted stock outstanding during the fiscal years ended September 30, 2018, 2017 and 2016, is as follows (shares in thousands):

	2018			2017			2016
		Weighted-Average			Weighted-Average			Weighted-Average
		Grant Date Fair			Grant Date Fair			Grant Date Fair
	Shares	Value per Share		Shares	Value per Share		Shares	Value per Share
Outstanding at October 1,	659	$	70.76	648	$	64.24	668	$	67.03
Granted	626		59.53	292		78.69	294		58.25
Vested (1)	(258)		70.60	(271)		63.81	(256)		64.75
Forfeited	(26)		66.73	(10)		68.09	(58)		63.65
Outstanding on September 30,	1,001	$	63.74	659	$	70.76	648	$	64.24

(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.