Annual report pursuant to Section 13 and 15(d)

Share-Based Compensation (Tables)

v3.5.0.2
Share-Based Compensation (Tables)
 12 Months Ended
Sep. 30, 2016
Compensation Related Costs [Abstract]  
Schedule of stock-based compensation costs
 
Year Ended September 30,
 
2016
 
2015
 
2014
Stock-based compensation cost
$
8.5

 
$
12.0


$
7.5

Less impact of income tax
3.1

 
4.4


2.8

Stock-based compensation cost, net of tax
$
5.4

 
$
7.6


$
4.7

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,
 
2016
 
2015
 
2014
Risk-free interest rate
0.5 - 2.2%
 
0.1 - 2.2%
 
0.1 - 2.8%
Weighted-average dividend yield
2.6%
 
2.5%
 
2.8%
Weighted-average volatility factor
31.0%
 
31.8%
 
33.5%
Exercise factor
33.6%
 
33.1%
 
29.5%
Post-vesting termination rate
5.0%
 
5.0%
 
5.0%
Expected life (years)
4.5
 
4.6
 
4.2
Summary of outstanding stock options
 
 
Number
of Shares
 
Weighted-Average
Exercise Price
Outstanding at September 30, 2015
2,517,132

 
$
22.95

Granted
497,774

 
31.11

Exercised
(670,216
)
 
19.82

Forfeited
(64,378
)
 
31.07

Expired
(5,716
)
 
26.35

Outstanding at September 30, 2016
2,274,596

 
25.41

 
 
 
 
Exercisable at September 30, 2016
1,529,560

 
22.63

Summary of outstanding restricted stock units
A summary of the non-vested stock awards as of September 30, 2016 (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, 2015
 
81,443

 
$
27.56

Granted
 
43,824

 
30.59

Vested
 
(40,089
)
 
23.36

Forfeited
 
(2,563
)
 
31.11

Non-vested time-based stock awards at September 30, 2016
 
82,615

 
30.80

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, 2015
 
936,051

 
$
30.91

Granted
 
378,158

 
33.14

Vested
 
(146,757
)
 
28.71

Forfeited
 
(384,016
)
 
29.00

Non-vested performance-based stock awards at September 30, 2016
 
783,436

 
33.33