Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.20.2
Share-Based Compensation (Tables)
12 Months Ended
Sep. 30, 2020
Compensation Related Costs [Abstract]  
Schedule of stock-based compensation costs
  Year Ended September 30,
  2020 2019 2018
Stock-based compensation cost $ 14.0  $ 12.0  $ 12.1 
Less impact of income tax 3.2  2.8  2.9 
Stock-based compensation cost, net of tax $ 10.8  $ 9.2  $ 9.2 
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,
  2020 2019 2018
Risk-free interest rate 1.6  % 2.9  % 2.4  %
Weighted-average dividend yield 2.7  % 2.0  % 1.8  %
Weighted-average volatility factor 27.9  % 27.5  % 28.0  %
Expected life (years) 5.8 5.7 5.6
Summary of outstanding stock options
A summary of outstanding stock option awards as of September 30, 2020 and changes during the year is presented below:
 
Number
of Shares
Weighted-Average
Exercise Price
Outstanding at September 30, 2019 2,137,604  $ 35.43 
Granted 454,929  31.94 
Exercised (58,618) 20.91 
Forfeited (45,255) 36.94 
Expired/cancelled (52,217) 39.93 
Outstanding at September 30, 2020 2,436,443  $ 35.00 
Exercisable at September 30, 2020 1,621,923  $ 33.93 
Summary of outstanding restricted stock units
A summary of the non-vested stock awards, including dividends, as of September 30, 2020 (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, 2019 68,930  $ 41.19 
Granted 338,105  31.21 
Vested (28,741) 38.15 
Forfeited (31,669) 32.99 
Non-vested time-based stock awards at September 30, 2020 346,625  $ 32.46 
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, 2019 520,145  $ 46.41 
Granted 429,782  33.58 
Vested (114,043) 53.29 
Forfeited (141,589) 50.05 
Non-vested performance-based stock awards at September 30, 2020 694,295  $ 36.59