Stock-Based Compensation (Tables)

3 Months Ended

Dec. 31, 2023

Share-Based Payment Arrangement [Abstract]

Share-based Payment Arrangement, Activity

A summary of the stock-based awards granted is presented below:

	Three Months Ended December 31,
	2023			2022
	Number Granted	Weighted Average Grant Date Fair Value		Number Granted	Weighted Average Grant Date Fair Value
Restricted stock/units	1,741,102	$	53.52	1,614,493	$	66.73
Performance shares	370,307	54.13		339,191	79.54
Stock options	652,702	13.74		570,140	18.21

Schedule of Share-Based Payment Award, Performance Share, Valuation Assumptions

The following table summarizes the assumptions used in determining the fair value of performance share units granted:

	Three Months Ended December 31,
	2023	2022
Risk-free interest rate	4.21%	4.04%
Expected volatility of the Company’s stock	27.2%	33.5%

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions

The following table summarizes the assumptions used in determining the fair value of stock options granted:

	Three Months Ended December 31,
	2023	2022
Expected life of option (years)	5.7	5.8
Risk-free interest rate	3.86%	3.59%
Expected volatility of the Company’s stock	29.8%	29.4%
Expected dividend yield on the Company’s stock	2.77%	2.10%