Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.19.3
Share-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2019
Compensation Related Costs [Abstract]  
Schedule of stock-based compensation costs
 
Year Ended September 30,
 
2019
 
2018
 
2017
Stock-based compensation cost
$
12.0

 
$
12.1


$
10.5

Less impact of income tax
2.8

 
2.9


3.8

Stock-based compensation cost, net of tax
$
9.2

 
$
9.2


$
6.7


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,
 
2019
 
2018
 
2017
Risk-free interest rate
2.9
%
 
2.4
%
 
1.9
%
Weighted-average dividend yield
2.0
%
 
1.8
%
 
2.2
%
Weighted-average volatility factor
27.5
%
 
28.0
%
 
28.8
%
Expected life (years)
5.7

 
5.6

 
5.8



Summary of outstanding stock options
A summary of outstanding stock option awards as of September 30, 2019 and changes during the year is presented below:
 
 
Number
of Shares
 
Weighted-Average
Exercise Price
Outstanding at September 30, 2018
1,868,257

 
$
33.84

Granted
431,726

 
41.31

Exercised
(96,219
)
 
26.90

Forfeited
(60,926
)
 
40.54

Expired/cancelled
(5,234
)
 
41.52

Outstanding at September 30, 2019
2,137,604

 
$
35.43

 
 
 
 
Exercisable at September 30, 2019
1,352,141

 
$
31.45


Summary of outstanding restricted stock units
A summary of the non-vested stock awards, including dividends, as of September 30, 2019 (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, 2018
 
92,578

 
$
38.19

Granted
 
29,651

 
41.09

Vested
 
(37,992
)
 
34.33

Forfeited
 
(15,307
)
 
39.90

Non-vested time-based stock awards at September 30, 2019
 
68,930

 
$
41.19


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, 2018
 
480,135

 
$
45.93

Granted
 
338,732

 
41.82

Vested
 
(134,140
)
 
37.59

Forfeited
 
(164,582
)
 
42.75

Non-vested performance-based stock awards at September 30, 2019
 
520,145

 
$
46.41