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Stock-Based Compensation (Tables)
3 Months Ended
Dec. 31, 2015
Stock-Based Compensation  
Summary of compensation cost for stock-based payment arrangements recognized in general and administrative expense

 

 

 

Three Months Ended

 

 

 

December 31,

 

 

 

2015

 

2014

 

 

 

(in thousands)

 

Compensation expense

 

 

 

 

 

Stock options

 

$

3,550 

 

$

3,062 

 

Restricted stock

 

4,371 

 

3,920 

 

 

 

 

 

 

 

 

 

$

7,921 

 

$

6,982 

 

 

 

 

 

 

 

 

 

 

 

Summary of weighted-average assumptions utilized in determining the fair value of options granted

 

 

 

 

2015

 

2014

 

 

 

 

 

 

 

Risk-free interest rate

 

1.8 

%

1.7 

%

Expected stock volatility

 

37.6 

%

37.0 

%

Dividend yield

 

4.6 

%

3.9 

%

Expected term (in years)

 

5.5 

 

5.5 

 

 

 

Summary of stock option activity

 

 

 

Three Months Ended December 31, 2015

 

 

 

 

 

 

 

Weighted-

 

 

 

 

 

 

 

Weighted-

 

Average

 

Aggregate

 

 

 

 

 

Average

 

Remaining

 

Intrinsic

 

 

 

Shares

 

Exercise

 

Contractual Term

 

Value

 

Options

 

(in thousands)

 

Price

 

(in years)

 

(in millions)

 

 

 

 

 

 

 

 

 

 

 

Outstanding at October 1, 2015

 

2,776

 

$

48.51

 

 

 

 

 

Granted

 

876

 

58.25

 

 

 

 

 

Exercised

 

(119

)

31.19

 

 

 

 

 

Forfeited/Expired

 

(2

)

54.65

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Outstanding at December 31, 2015

 

3,531

 

$

51.51

 

6.4

 

$

26.6

 

 

 

 

 

 

 

 

 

 

 

 

 

Vested and expected to vest at December 31, 2015

 

3,495

 

$

51.39

 

6.4

 

$

26.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exercisable at December 31, 2015

 

2,331

 

$

46.06

 

4.9

 

$

26.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Summary of restricted stock awards and changes in restricted stock outstanding

 

 

 

 

 

Three Months Ended

 

 

 

December 31, 2015

 

 

 

 

 

Weighted-

 

 

 

 

 

Average

 

 

 

Shares

 

Grant-Date

 

Restricted Stock Awards

 

(in thousands)

 

Fair Value

 

 

 

 

 

 

 

Unvested at October 1, 2015

 

668

 

$

67.03

 

Granted

 

294

 

58.25

 

Vested (1)

 

(256

)

64.75

 

Forfeited

 

(3

)

68.57

 

 

 

 

 

 

 

Unvested at December 31, 2015

 

703

 

$

64.17

 

 

 

 

 

 

 

 

 

 

(1)

The number of restricted stock awards vested includes shares that we withheld on behalf of our employees to satisfy the statutory tax withholding requirements.