Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation

v3.2.0.727
Share-Based Compensation
9 Months Ended
Jun. 30, 2015
Compensation Related Costs [Abstract]  
Share-Based Compensation
Share-Based Compensation
 
 
Three Months Ended
June 30,
 
Nine Months Ended
June 30,
 
2015
 
2014
 
2015
 
2014
Share-based compensation costs
$
2.6

 
$
1.1

 
$
8.9

 
$
6.2

Less impact of income tax benefit
1.0

 
0.4

 
3.3

 
2.3

Share-based compensation costs, net of tax
$
1.6

 
$
0.7

 
$
5.6

 
$
3.9


 
We have share-based compensation with long-term performance-based metrics that are contingent upon our relative total shareholder return and the creation of shareholder value as measured by the cumulative cash returns and final period net operating profit after tax compared to the performance-based targets for each grant over a three-year period.  For the performance-based awards contingent upon the creation of shareholder value, compensation expense is adjusted each quarter based upon actual results to date and any changes to forecasted information on each of the separate grants. 
 
During the nine months ended June 30, 2015, we made the following grants:
 
 
Number of
Units
Stock options
360,903

Time-based stock awards
68,137

Performance-based stock awards (maximum that can be earned)
474,599


 
Stock options granted during fiscal 2015 had a weighted-average exercise price of $32.66 and a weighted-average grant date fair value of $8.38.  Our time-based stock awards and performance-based stock awards granted during fiscal 2015 had weighted-average grant date fair values of $31.01 and $33.44.  Included in the performance-based stock awards granted during 2015 are 150,464 units whose payout level is based upon the Company’s total shareholder return as it relates to the performance of companies in its compensation peer group over a three-year measurement period.  These units will be expensed on a straight-line basis over the measurement period and are not subsequently adjusted after the grant date.