Capital Stock

12 Months Ended

Sep. 30, 2020

CAPITAL STOCK

Common Stock

Authorized common stock consists of 300 million shares with a par value of $1 per share. As of 30 September 2020, 249 million shares were issued, with 221 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 2020. At 30 September 2020, $485.3 in share repurchase authorization remains.

A summary of the changes in common shares in fiscal year 2020 is presented below:


Year Ended 30 September	2020	2019	2018
Number of common shares outstanding, beginning of year	220,415,262	219,515,245	218,346,074
Issuance of treasury shares for stock option and award plans	602,197	900,017	1,169,171
Number of common shares outstanding, end of year	221,017,459	220,415,262	219,515,245

Preferred Stock

Authorized preferred stock consisted 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 preferred shares issued or outstanding as of 30 September 2020 and 2019.