Stock-Based Employee Benefit Plans (Tables)

12 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement [Abstract]

Assumptions Used to Estimate Fair Value of Stock Options

We used the following assumptions to estimate the fair value of our stock options during fiscal 2020, 2019 and 2018:

	Year Ended September 30,
	2020				2019				2018
Stock Options:
Weighted-average expected term (years)			4.46				4.26					4.78
Expected volatility (range)	30.0	-	35.9	%	31.1	-	32.4	%	33.6	%	-	35.1	%
Weighted-average volatility			30.6	%			32.2	%				34.6	%
Risk-free interest rate (range)	0.36	-	1.68	%	2.50	-	2.68	%	2.03	%	-	2.65	%
Weighted-average expected dividend yield			—	%			—	%				—	%

Summary of Option Activity

The following table summarizes option activity during fiscal 2020: 

	Shares		Weighted- average Exercise Price		Weighted- average Remaining Contractual Term	Aggregate Intrinsic Value
	(In thousands)				(In years)	(In thousands)
Outstanding at September 30, 2019	616		$	89.36
Granted	32		364.23
Exercised	(401	)	63.47
Forfeited	(1	)	185.05
Outstanding at September 30, 2020	246		$	166.80	3.84	$	63,605
Exercisable at September 30, 2020	168		$	130.87	3.06	$	49,435
Vested and expected to vest at September 30, 2020	243		$	165.32	3.82	$	63,125

Summary of Restricted Stock Unit and Market Stock Unit Activity

The following table summarizes the MSUs activity during fiscal 2020:

	Shares		Weighted- average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2019	100		$	188.63
Granted	96		249.13
Released	(123	)	171.42
Forfeited	(10	)	202.48
Outstanding at September 30, 2020	63		$	311.91

The following table summarizes the RSUs activity during fiscal 2020: 

	Shares		Weighted-average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2019	998		$	159.99
Granted	218		356.66
Released	(434	)	138.04
Forfeited	(61	)	200.38
Outstanding at September 30, 2020	721		$	229.10

Summary of Performance Stock Unit Activity

The following table summarizes the PSUs activity during fiscal 2020: 

	Shares		Weighted- average Grant-date Fair Value
	(In thousands)
Outstanding at September 30, 2019	195		$	163.38
Granted	53		354.18
Released	(101	)	152.45
Forfeited	(20	)	175.50
Outstanding at September 30, 2020	127		$	248.97

Assumptions Used to Estimate Fair Value of Market Stock Units

We used the following assumptions to estimate the fair value of our MSUs during fiscal 2020, 2019 and 2018:

	Year Ended September 30,
	2020		2019		2018
Expected volatility in FICO’s stock price	25.2	%	24.6	%	24.6	%
Expected volatility in Russell 3000 Index	12.9	%	12.8	%	12.7	%
Correlation between FICO and the Russell 3000 Index	64.0	%	66.6	%	63.1	%
Risk-free interest rate	1.67	%	2.73	%	1.92	%
Average expected dividend yield	—	%	—	%	—	%