Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.10.0.1
Share-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2018
Compensation Related Costs [Abstract]  
Schedule of stock-based compensation costs
 
Year Ended September 30,
 
2018
 
2017
 
2016
Stock-based compensation cost
$
12.1

 
$
10.5


$
8.5

Less impact of income tax
2.9

 
3.8


3.1

Stock-based compensation cost, net of tax
$
9.2

 
$
6.7


$
5.4

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,
 
2018
 
2017
 
2016
Risk-free interest rate
2.4
%
 
1.9
%
 
0.5 - 2.2%

Weighted-average dividend yield
1.8
%
 
2.2
%
 
2.6
%
Weighted-average volatility factor
28.0
%
 
28.8
%
 
31.0
%
Exercise factor(1)
n/a

 
n/a

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

 
n/a

 
5.0
%
Expected life (years)
5.6

 
5.8

 
4.5


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

Summary of outstanding stock options
A summary of outstanding stock option awards as of September 30, 2018 and changes during the year is presented below:
 
 
Number
of Shares
 
Weighted-Average
Exercise Price
Outstanding at September 30, 2017
1,833,931

 
$
28.93

Granted
479,991

 
45.94

Exercised
(388,379
)
 
24.88

Forfeited
(56,532
)
 
33.56

Expired/cancelled
(754
)
 
38.96

Outstanding at September 30, 2018
1,868,257

 
$
33.84

 
 
 
 
Exercisable at September 30, 2018
1,050,458

 
$
28.31

Summary of outstanding restricted stock units
A summary of the non-vested stock awards, including dividends, as of September 30, 2018 (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, 2017
 
93,232

 
$
33.05

Granted
 
34,166

 
46.77

Vested
 
(28,810
)
 
32.27

Forfeited
 
(6,010
)
 
35.61

Non-vested time-based stock awards at September 30, 2018
 
92,578

 
$
38.19

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, 2017
 
608,633

 
$
35.80

Granted
 
237,617

 
53.35

Vested
 
(243,310
)
 
33.50

Forfeited
 
(122,805
)
 
34.74

Non-vested performance-based stock awards at September 30, 2018
 
480,135

 
$
45.93