Stock-based compensation (Tables)

9 Months Ended

Jun. 30, 2017

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

Summary of stock-based compensation expense

A summary of the expense related to stock-based compensation by award type is as follows for the periods presented:

	Three Months Ended June 30,						Nine Months Ended June 30,
(In thousands)	2017			2016			2017			2016
Stock options expense	$	53		$	135		$	215		$	385
Restricted stock awards expense	2,757			1,921			7,112			5,459
Before tax stock-based compensation expense	2,810			2,056			7,327			5,844
Tax benefit	(1,001		)	(1,043		)	(2,608		)	(2,891		)
After tax stock-based compensation expense	$	1,809		$	1,013		$	4,719		$	2,953

Summary of stock option valuation assumptions

We used the following assumptions for stock options granted, which derived the weighted average fair value shown, for the period presented:

	Nine Months Ended
	June 30, 2017
Expected life of options	5.4 years
Expected volatility	50.10		%
Expected dividends	—
Weighted average risk-free interest rate	1.85		%
Weighted average fair value	$	5.83

Schedule of stock options and SSARs outstanding

Activity related to stock options for the periods presented is as follows:

	Three Months Ended				Nine Months Ended
	June 30, 2017				June 30, 2017
	Shares		Weighted Average Exercise Price		Shares		Weighted Average Exercise Price
Outstanding at beginning of period	688,175		$	16.39	672,669		$	16.49
Granted	—		—		29,410		12.50
Expired	(84,976	)	28.45		(84,976	)	28.45
Forfeited	(3,085	)	7.54		(16,989	)	11.93
Outstanding at end of period	600,114		$	14.73	600,114		$	14.73
Exercisable at end of period	478,967		$	15.93	478,967		$	15.93
Vested or expected to vest in the future	596,309		$	14.78	596,309		$	14.78

Schedule of nonvested stock awards activity

Activity relating to restricted stock awards for the periods presented is as follows:

	Three Months Ended June 30, 2017
	Performance-Based Restricted Stock			Time-Based Restricted Stock				Total Restricted Stock
	Shares	Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	683,699	$	15.72	891,703		$	16.43	1,575,402		$	16.12
Granted	—	—		2,453		11.89		2,453		11.89
Vested	—	—		(3,416	)	17.77		(3,416	)	17.77
End of period	683,699	$	15.72	890,740		$	16.42	1,574,439		$	16.12

	Nine Months Ended June 30, 2017
	Performance-Based Restricted Stock				Time-Based Restricted Stock				Total Restricted Stock
	Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value		Shares		Weighted Average Grant Date Fair Value
Beginning of period	448,693		$	16.71	807,124		$	17.52	1,255,817		$	17.23
Granted	263,696		13.60		271,855		12.50		535,551		13.04
Vested	—		—		(187,146	)	15.53		(187,146	)	15.53
Forfeited	(28,690	)	11.65		(1,093	)	19.07		(29,783	)	11.92
End of period	683,699		$	15.72	890,740		$	16.42	1,574,439		$	16.12