Stockholders' Equity

9 Months Ended

Jun. 30, 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. During the three months ended June 30, 2017, the Company paid $128.8 million (including commissions) in connection with the repurchase of 1.3 million shares of its common stock (paying an average price of $103.06 per share). During the nine months ended June 30, 2017, the Company paid $330.5 million (including commissions) in connection with the repurchase of 3.7 million shares of its common stock (paying an average price of $90.56 per share). As of June 30, 2017, $275.9 million remained available under the existing share repurchase authorization.

Dividends

On July 20, 2017, the Company announced that the Board of Directors had declared a cash dividend on its common stock of $0.32 per share, payable on August 29, 2017, to the Company’s stockholders of record as of the close of business on August 8, 2017.

During the three and nine months ended June 30, 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
Third quarter	0.28		51.7
Total	$	0.84	$	155.3

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				Nine Months Ended
	June 30, 2017		July 1, 2016		June 30, 2017		July 1, 2016
Cost of sales	$	2.9	$	2.2	$	10.1	$	9.4
Research and development	9.1		7.7		25.9		23.9
Selling, general and administrative	8.6		8.0		28.3		25.0
Total share-based compensation	$	20.6	$	17.9	$	64.3	$	58.3