Stock-Based Compensation (Tables)

6 Months Ended

Apr. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Information pertaining to the Company's stock option awards and the related estimated weighted-average assumptions used to calculate the fair value of stock options granted

Information pertaining to the Company’s stock option awards and the related estimated weighted-average assumptions to calculate the fair value of stock options using the Black-Scholes valuation model granted during the three- and six-month periods ended April 30, 2016 and May 2, 2015 are as follows:

	Three Months Ended						Six Months Ended
Stock Options	April 30, 2016			May 2, 2015			April 30, 2016			May 2, 2015
Options granted (in thousands)	1,679			1,853			1,715			1,908
Weighted-average exercise price		$54.90			$57.28			$54.90			$57.11
Weighted-average grant-date fair value		$12.81			$10.41			$12.79			$10.33
Assumptions:
Weighted-average expected volatility	34.3%			25.9		%	34.3		%	25.8		%
Weighted-average expected term (in years)	5.1			5.3			5.1			5.3
Weighted-average risk-free interest rate	1.4		%	1.6		%	1.4		%	1.6		%
Weighted-average expected dividend yield	3.1		%	2.8		%	3.1		%	2.8		%

The Company utilizes the Monte Carlo simulation valuation model to value market-based restricted stock units. The Monte Carlo simulation model utilizes multiple input variables that determine the probability of satisfying the performance conditions stipulated in the award grant and calculates the fair market value for the market-based restricted stock units granted. The Monte Carlo simulation model also uses stock price volatility and other variables to estimate the probability of satisfying the performance conditions, including the possibility that the market condition may not be satisfied, and the resulting fair value of the award. Information pertaining to the market-based restricted stock units and the related estimated assumptions used to calculate the fair value of the market-based restricted stock units granted during the three- and six-month periods ended April 30, 2016 and May 2, 2015 using the Monte Carlo simulation model are as follows:

	Three and Six Months Ended			Three and Six Months Ended
Market-based Restricted Stock Units	April 30, 2016			May 2, 2015
Units granted (in thousands)	102			75
Grant-date fair value		$58.95			$55.67
Assumptions:
Historical stock price volatility	25.1		%	20.0		%
Risk-free interest rate	1.1		%	1.1		%
Expected dividend yield	3.0		%	2.8		%

Summary of the activity under the Company s stock option plans:

A summary of the activity under the Company’s stock option plans as of April 30, 2016 and changes during the three- and six-month periods then ended is presented below:

Activity during the Three Months Ended April 30, 2016	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term in Years	Aggregate Intrinsic Value
Options outstanding at January 30, 2016	11,924			$41.67
Options granted	1,679			$54.90
Options exercised	(460	)		$36.04
Options forfeited	(169	)		$48.84
Options expired	(2	)		$58.73
Options outstanding at April 30, 2016	12,972			$43.49	6.2		$168,491
Options exercisable at April 30, 2016	7,638			$37.19	4.7		$146,569
Options vested or expected to vest at April 30, 2016 (1)	12,466			$43.07	6.1		$167,037

(1) In addition to the vested options, the Company expects a portion of the unvested options to vest at some point in the future. The number of options expected to vest is calculated by applying an estimated forfeiture rate to the unvested options.

Activity during the Six Months Ended April 30, 2016	Options Outstanding (in thousands)		Weighted- Average Exercise Price Per Share
Options outstanding at October 31, 2015	12,181			$41.60
Options granted	1,715			$54.90
Options exercised	(641	)		$35.61
Options forfeited	(274	)		$49.70
Options expired	(9	)		$42.37
Options outstanding at April 30, 2016	12,972			$43.49

Summary of the Company's restricted stock unit award activity

A summary of the Company’s restricted stock unit award activity as of April 30, 2016 and changes during the three- and six-month periods then ended is presented below:

Activity during the Three Months Ended April 30, 2016	Restricted Stock Units Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units outstanding at January 30, 2016	2,600			$47.76
Units granted	893			$51.22
Restrictions lapsed	(679	)		$43.48
Forfeited	(61	)		$49.25
Restricted stock units outstanding at April 30, 2016	2,753			$49.89

Activity during the Six Months Ended April 30, 2016	Restricted Stock Units Outstanding (in thousands)		Weighted- Average Grant- Date Fair Value Per Share
Restricted stock units outstanding at October 31, 2015	2,698			$47.59
Units granted	977			$51.41
Restrictions lapsed	(814	)		$44.14
Forfeited	(108	)		$49.15
Restricted stock units outstanding at April 30, 2016	2,753			$49.89