Capital Stock

12 Months Ended

Sep. 30, 2019

Equity [Abstract]

Capital Stock

CAPITAL STOCK

Common Stock

Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2019, 249 million shares were issued, with 220 million outstanding.

On 15 September 2011, the Board of Directors authorized the repurchase of up to $1.0 billion of our outstanding common stock. We repurchase shares pursuant to Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended, through repurchase agreements established with several brokers. We did not purchase any of our outstanding shares during fiscal year 2019. At 30 September 2019, $485.3 in share repurchase authorization remains.

The following table reflects the changes in common shares:

Year ended 30 September	2019	2018	2017
Number of Common Shares Outstanding
Balance, beginning of year	219,515,245	218,346,074	217,350,825
Issuance of treasury shares for stock option and award plans	900,017	1,169,171	995,249
Balance, end of year	220,415,262	219,515,245	218,346,074

Preferred Stock

Authorized preferred stock consists of 25 million shares with a par value of $1 per share, of which 2.5 million were designated as Series A Junior Participating Preferred Stock. There were no shares issued or outstanding as of 30 September 2019 and 2018.