Shareholders' Equity

9 Months Ended

Jun. 30, 2019

Stockholders Equity Note [Abstract]

Shareholders' Equity

16. Shareholders’ Equity

In August 2015, the Company’s Board of Directors approved a stock repurchase authorization for which there was as of May 7, 2019 a remaining authority to repurchase 1,362,821 shares of Common Stock. On May 7, 2019, the Company’s Board of Directors increased the Company’s Common Stock repurchase authorization by 8,637,179 shares to 10,000,000 shares as of that date. The Company repurchased 4,043,627 shares of its Common Stock under this authorization during the nine months ended June 30, 2019 at a cost of $283.9 million. The Company repurchased 2,110,307 shares of Common Stock under this authorization during the nine months ended June 30, 2018 at a cost of $166.8 million. The Company repurchased 1,166,914 shares under this authorization during the three months ended June 30, 2019, resulting in remaining authority to repurchase 8,833,086 shares of Common Stock as of June 30, 2019. The Company is restricted by its Credit Agreement from repurchasing shares in certain situations. See Note 12 of the Notes to Condensed Consolidated Financial Statements for information regarding these restrictions.