Stockholder's Equity

6 Months Ended

Mar. 31, 2017

Stockholders' Equity Note [Abstract]

STOCKHOLDERS' EQUITY

STOCKHOLDERS’ EQUITY

Share Repurchase Program

On January 17, 2017, the Board of Directors approved a share repurchase program, pursuant to which the Company is authorized to repurchase up to $500.0 million of its common stock from time to time prior to January 17, 2019, on the open market or in privately negotiated transactions, as permitted by securities laws and other legal requirements. This recently authorized share repurchase plan replaces in its entirety the July 19, 2016, share repurchase plan. During the three months ended March 31, 2017, the Company paid $95.2 million (including commissions) in connection with the repurchase of 1.0 million shares of its common stock (paying an average price of $95.23 per share). During the six months ended March 31, 2017, the Company paid $201.7 million (including commissions) in connection with the repurchase of 2.4 million shares of its common stock (paying an average price of $84.04 per share). As of March 31, 2017, $404.8 million remained available under the existing share repurchase authorization.

Dividends

On April 27, 2017, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.28 per share, payable on June 6, 2017, to the Company’s stockholders of record as of the close of business on May 16, 2017.

During the three and six months ended March 31, 2017, dividends charged to retained earnings were as follows (in millions, except per share data):

	Per share		Total
First quarter	$	0.28	$	51.8
Second quarter	0.28		51.8
Total	$	0.56	$	103.6

Share-based Compensation

The following table summarizes the share-based compensation expense by line item in the Statement of Operations (in millions):

	Three Months Ended				Six Months Ended
	March 31, 2017		April 1, 2016		March 31, 2017		April 1, 2016
Cost of sales	$	3.4	$	3.2	$	7.2	$	7.2
Research and development	8.5		6.7		16.8		16.2
Selling, general and administrative	10.2		7.2		19.7		17.0
Total share-based compensation	$	22.1	$	17.1	$	43.7	$	40.4