Stock Compensation (Tables)

12 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Compensation costs included in net income

The following table presents the compensation costs related to our stock compensation arrangements:

	Fiscal Year Ended September 30,
	2016			2015			2014
	(in thousands)
Gross compensation costs:
Phantom stock	$	—		$	3,932		$	—
Restricted stock	5,346			(1,558		)	6,845
Total gross compensation costs	5,346			2,374			6,845
Income tax benefits:
Restricted stock	(963		)	—			(3,576		)
Total income tax benefits	(963		)	—			(3,576		)
Net compensation expense	$	4,383		$	2,374		$	3,269

Summary of restricted stock award activity

The following table presents a summary of restricted stock award activity as of, and for the fiscal year ended September 30, 2016:

	Shares		Weighted Average Grant Date Fair Value
Outstanding as of September 30, 2015	583,161		$	18.94
Granted	1,612,062		3.53
Other (a)	1,701,750		5.53
Released (b)	(459,653	)	6.76
Modified (c)	(720,000	)	4.74
Forfeited	(305,820	)	16.07
Outstanding as of September 30, 2016	2,411,500		$	5.77

(a) Includes remaining outstanding non-forfeited awards from 1,863,550 shares accounted for as phantom share-based awards for which $3.9 million was accrued as of September 30, 2015 as discussed above.

(b) 36,598 shares were withheld to satisfy related federal income tax withholding.

(c)    See discussion of modification of awards above.

The following table presents a summary of the fair values of shares granted:

	Fiscal Year Ended September 30,
	2016		2015			2014
	(in millions except per share amounts)
Weighted average grant-date fair value per share granted (a)	$	3.53	$	10.34	(b)	$	14.58
Total grant date fair value of shares vested	$	2.3	$	1.8		$	7.6

(a) Awards with market-conditioned vesting provisions are valued using a Monte Carlo simulation model. See Note 7 for discussion of Monte Carlo simulation model fair value inputs. Awards with performance and time-based vesting provisions are generally valued based upon the underlying share price as of the issuance date.

(b) Fiscal 2015 shares granted exclude phantom share-based awards. Including these shares, weighted average grant-date fair value was $5.69 per share.