Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.8.0.1
Share-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2017
Compensation Related Costs [Abstract]  
Schedule of stock-based compensation costs
 
Year Ended September 30,
 
2017
 
2016
 
2015
Stock-based compensation cost
$
10.5

 
$
8.5


$
12.0

Less impact of income tax
3.8

 
3.1


4.4

Stock-based compensation cost, net of tax
$
6.7

 
$
5.4


$
7.6

Summary of assumptions used in determining fair value of options
The following assumptions were used in the determination of fair value:
 
 
Year Ended September 30,
 
2017
 
2016
 
2015
Risk-free interest rate
1.9
%
 
0.5 - 2.2%

 
0.1 - 2.2%

Weighted-average dividend yield
2.2
%
 
2.6
%
 
2.5
%
Weighted-average volatility factor
28.8
%
 
31.0
%
 
31.8
%
Exercise factor(1)
n/a

 
33.6
%
 
33.1
%
Post-vesting termination rate(1)
n/a

 
5.0
%
 
5.0
%
Expected life (years)
5.8

 
4.5

 
4.6


(1) Assumption only applicable to the binomial option-pricing model used in 2016 and 2015

Summary of outstanding stock options
A summary of outstanding stock option awards as of September 30, 2017 and changes during the year is presented below:
 
 
Number
of Shares
 
Weighted-Average
Exercise Price
Outstanding at September 30, 2016
2,274,596

 
$
25.41

Granted
477,594

 
35.90

Exercised
(800,248
)
 
22.37

Forfeited
(109,606
)
 
34.06

Expired/cancelled
(8,405
)
 
30.44

Outstanding at September 30, 2017
1,833,931

 
$
28.93

 
 
 
 
Exercisable at September 30, 2017
1,103,512

 
$
25.58

Summary of outstanding restricted stock units
A summary of the non-vested stock awards as of September 30, 2017 (representing the maximum number of shares that could be vested) and changes during the year is presented below:
 
 
 
Number of Shares
 
Weighted-Average
Grant Date Fair Value
Time-Based Stock Awards 
 
 
Non-vested time-based stock awards at September 30, 2016
 
82,615

 
$
30.80

Granted
 
47,024

 
35.41

Vested
 
(33,388
)
 
31.28

Forfeited
 
(5,977
)
 
32.50

Non-vested time-based stock awards at September 30, 2017
 
90,274

 
$
33.04

Summary of outstanding performance-based units
 
 
Number of Shares
 
Weighted-Average
Grant Date Fair Value
Performance-Based Stock Awards 
 
 
Non-vested performance-based stock awards at September 30, 2016
 
783,436

 
$
33.33

Granted
 
302,407

 
39.72

Vested
 
(203,981
)
 
33.42

Forfeited
 
(284,408
)
 
34.16

Non-vested performance-based stock awards at September 30, 2017
 
597,454

 
$
36.14