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Share-Based Compensation (Tables)

12 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

The following weighted average assumptions were used to estimate the fair values of options granted:


	Fiscal Year Ended September 30,
	2020	2019	2018
Risk-free interest rate	1.66%	2.91%	1.89%
Expected dividend yield	1.86%	1.79%	1.96%
Volatility of common stock	28.17%	27.67%	26.54%
Expected life of the options	3.79 years	3.77 years	3.76 years

Stock options

A summary of the Company's stock option activity and related information for its option plans for the fiscal year ended September 30, 2020 is presented below:


(in thousands, except exercise price and contractual term)	Options	Weighted Average Exercise Price	Weighted Average Remaining Contractual Term	Aggregate Intrinsic Value
Outstanding as of September 30, 2019	7,659	$83	4 years	$	35,319
Granted	383	$86
Exercised	(2,242)	$76
Forfeited	(166)	$83
Expired	(75)	$95
Outstanding as of September 30, 2020	5,559	$86	3 years	$	62,770
Exercisable as of September 30, 2020	3,430	$88	2 years	$	33,107
Expected to vest after September 30, 2020	2,072	$83	5 years	$	29,032

Nonvested options

A summary of the status of the Company's nonvested options as of September 30, 2020 and changes during the fiscal year ended September 30, 2020 is presented below:


(in thousands, except grant date fair value)	Options	Weighted Average Grant Date Fair Value
Nonvested as of September 30, 2019	3,265	$16
Granted	383	$17
Vested	(1,353)	$16
Forfeited	(166)	$16
Nonvested as of September 30, 2020	2,129	$16

Nonvested restricted shares

A summary of the status of the Company's nonvested restricted stock units as of September 30, 2020 and changes during the fiscal year ended September 30, 2020 are presented below:


(in thousands, except grant date fair value)	Restricted Stock Units	Weighted Average Grant Date Fair Value
Nonvested as of September 30, 2019	1,222	$81
Granted	760	$86
Vested	(346)	$76
Forfeited	(124)	$84
Nonvested as of September 30, 2020	1,512	$85

Nonvested performance stock units

A summary of the status of the Company's nonvested performance stock units as of September 30, 2020 and changes during the fiscal year ended September 30, 2020 is presented below (based upon target award amounts).


(in thousands, except grant date fair value)	Performance Stock Units	Weighted Average Grant Date Fair Value
Nonvested as of September 30, 2019	283	$84
Granted	150	$86
Vested	(139)	$78
Forfeited	(6)	$89
Nonvested as of September 30, 2020	288	$88