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Common Stock (Tables)
12 Months Ended
Sep. 30, 2021
Class of Stock Disclosures [Abstract]  
Schedule of Stock-Based Compensation Cost
The stock-based compensation cost that was charged against income for all plans was $45.6 million, $38.4 million and $34.4 million for the fiscal years ended September 30, 2021, 2020 and 2019.

We recognize a tax benefit based on the increase in value from the grant date to the exercise date for stock options and from the grant date to the distribution date for the performance share units and restricted share units. The tax benefit is recorded during the year in which the exercise or distribution occurs. The tax benefit for exercises and distributions for the fiscal years ended September 30, 2021, 2020 and 2019 was $1.5 million, $4.7 million, and $5.2 million.
Schedule of Weighted Average Fair Value per Share of Stock Options and Related Valuation Assumptions
The following table sets forth the weighted average fair value per share of stock options and the related valuation assumptions used in the determination of those fair values:
 Year Ended September 30
 202120202019
Weighted average fair value per share$23.86 $24.80 $25.28 
Valuation assumptions:
Risk-free interest rate0.4%1.6%3.0%
Expected dividend yield0.9%0.8%0.8%
Expected volatility32.3%27.7%30.5%
Weighted average expected life (years)4.74.74.7
Schedule of Transactions under Stock Option Plans
The following table summarizes transactions under our stock option plans for the fiscal year ended September 30, 2021:
Weighted
Average
Number of
Shares
(in thousands)
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Term
Aggregate
Intrinsic
Value
(in millions)
Balance Outstanding as of October 1, 2020
740 $81.14 
Granted213 94.17 
Exercised(162)64.81 
Cancelled/Forfeited(24)75.91 
Balance Outstanding as of September 30, 2021767 $88.39 7.3$47.3 
Exercisable as of September 30, 2021332 $78.04 5.9$23.9 
Options Expected to Vest421 96.26 8.322.6 

The aggregate intrinsic value in the table above represents the total pre-tax intrinsic value, based on our closing stock price of $150.00, as reported by the New York Stock Exchange on September 30, 2021. This amount, which changes continuously
based on the fair value of our common stock, would have been received by the option holders had all option holders exercised their options as of the balance sheet date.
Schedule of Transactions for Nonvested RSUs
The following table summarizes transactions for our nonvested RSUs for the fiscal year ended 2021:
Number of
Share Units
(in thousands)
Weighted
Average
Grant Date
Fair Value
Nonvested RSUs as of October 1, 2020
337$112.41 
Granted297 92.16 
Vested(240)93.89 
Forfeited(28)95.38 
Nonvested RSUs as of September 30, 2021366$109.42 
Schedule of Weighted Average Fair Value per Share of PSUs and Related Valuation Assumptions
The following table sets forth the weighted average fair value per share for PSUs and the related valuation assumptions used in the determination of those fair values. PSUs granted for the fiscal years ended September 30, 2021, 2020 and 2019 are based on company-specific performance targets, with a total shareholder return collar.
 Year Ended September 30
 202120202019
Weighted average fair value per share$100.15 $110.53 $112.79 
Valuation assumptions:
Risk-free interest rate0.3%1.6%3.0%
Expected volatility34.7%23.8%22.8%
Schedule of Transactions for Nonvested PSUs
The following table summarizes transactions for our nonvested PSUs during fiscal year ended September 30, 2021:
Number of
Share Units
(in thousands)
Weighted
Average
Grant Date
Fair Value
Nonvested PSUs as of October 1, 2020
165$111.73 
Granted79104.36 
Vested(51)126.55 
Forfeited(10)108.41 
Nonvested PSUs as of September 30, 2021183$104.55