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Common Stock (Tables)
 12 Months Ended
Sep. 30, 2017
Class of Stock Disclosures [Abstract]  
Schedule of Stock-Based Compensation Cost
The following table sets forth a summary of the annual stock-based compensation cost that was charged against income for all types of awards:
 
 
Year Ended September 30
 
 
2017
 
2016
 
2015
Total stock-based compensation cost (pre-tax)
 
$
23.0

 
$
23.1

 
$
25.0

Total income tax benefit
 
(16.5
)
 
(7.9
)
 
(7.5
)
Total stock-based compensation cost, net of tax
 
$
6.5


$
15.2


$
17.5
Schedule of Weighted Average Fair Value per Share of Stock Options and Related Valuation Assumptions
The following table sets forth the weighted average fair value per share of stock options and the related valuation assumptions used in the determination of those fair values:
 
 
Year Ended September 30
 
 
2017
 
2016
 
2015
Weighted average fair value per share
 
$15.05
 
$14.07
 
$12.83
 
 
 
 
 
 
 
Valuation assumptions:
 
 
 
 
 
 
Risk-free interest rate
 
1.7%
 
1.6%
 
1.6%
Expected dividend yield
 
1.3%
 
1.2%
 
1.4%
Expected volatility
 
33.2%
 
33.1%
 
35.0%
Weighted average expected life (years)
 
4.9
 
4.9
 
4.9
Schedule of Transactions under Stock Option Plans
The following table summarizes transactions under our stock option plans for fiscal year 2017:
 
 
Weighted
Average
Number of
Shares
(in thousands)
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Contractual
Term
 
Aggregate
Intrinsic
Value (1)
(in millions)
Balance Outstanding at October 1, 2016
 
2,006

 
$
37.31

 
 
 
 
Granted
 
353

 
53.81

 
 
 
 
Exercised
 
(556
)
 
31.94

 
 
 
 
Cancelled/Forfeited
 
(98
)
 
49.28

 
 
 
 
Balance Outstanding at September 30, 2017
 
1,705

 
$
41.79

 
6.2
 
$
54.9

Exercisable at September 30, 2017
 
981

 
$
35.29

 
4.6
 
$
38.0

Options Expected to Vest
 
623

 
$
50.36

 
8.2
 
$
14.7


(1)
The aggregate intrinsic value represents the total pre-tax intrinsic value, based on our closing stock price of $74.00, as reported by the New York Stock Exchange on September 30, 2017. This amount, which changes continuously based on the fair value of our common stock, would have been received by the option holders had all option holders exercised their options as of the balance sheet date.
Schedule of Transactions for Nonvested RSUs
The following table summarizes transactions for our nonvested RSUs for fiscal year 2017:
 
 
Number of
Share Units
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
Nonvested RSUs at October 1, 2016
 
556
 
$
46.32

Granted
 
255
 
57.47

Vested
 
(241)
 
45.86

Forfeited
 
(49)
 
49.14

Nonvested RSUs at September 30, 2017
 
521
 
$
51.39
Schedule of Weighted Average Fair Value per Share of PSUs and Related Valuation Assumptions
The following table sets forth the weighted average fair value per share for PSUs and the related valuation assumptions used in the determination of those fair values. PSUs granted in fiscal 2017, 2016 and 2015 are based on company-specific performance targets, with a total shareholder return collar.
 
 
Year Ended September 30
 
 
2017
 
2016
 
2015
Weighted average fair value per share
 
$55.95
 
$50.51
 
$47.82
 
 
 
 
 
 
 
Valuation assumptions:
 
 
 
 
 
 
Risk-free interest rate
 
1.2%
 
1.1%
 
0.9%
Expected dividend yield
 
0.0%
 
0.0%
 
0.0%
Expected volatility
 
22.6%
 
22.3%
 
23.5%
Schedule of Transactions for Nonvested PSUs
The following table summarizes transactions for our nonvested PSUs for fiscal 2017:
 
 
Number of
Share Units
(in thousands)
 
Weighted
Average
Grant Date
Fair Value
Nonvested PSUs as of October 1, 2016
 
455
 
$
49.50

Granted
 
143
 
55.95

Vested
 
(196)
 
48.46

Forfeited
 
(57)
 
49.92

Nonvested PSUs at September 30, 2017
 
345
 
$
53.40