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Stock-Based Compensation (Tables)
 9 Months Ended
Jul. 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 nine-month periods ended July 30, 2016 and August 1, 2015 are as follows:
  
Three Months Ended
 
Nine Months Ended
Stock Options
July 30, 2016
 
August 1, 2015
 
July 30, 2016
 
August 1, 2015
Options granted (in thousands)
23

 
23

 
1,738

 
1,931

Weighted-average exercise price

$56.20

 

$63.39

 

$54.92

 

$57.18

Weighted-average grant-date fair value

$10.86

 

$11.52

 

$12.77

 

$10.35

Assumptions:
 
 
 
 
 
 
 
Weighted-average expected volatility
29.1%

 
25.0
%
 
34.2
%
 
25.8
%
Weighted-average expected term (in years)
5.1

 
5.3

 
5.1

 
5.3

Weighted-average risk-free interest rate
1.2
%
 
1.6
%
 
1.4
%
 
1.6
%
Weighted-average expected dividend yield
3.0
%
 
2.5
%
 
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 nine-month periods ended July 30, 2016 and August 1, 2015 using the Monte Carlo simulation model are as follows:
 
Nine Months Ended
 
Nine Months Ended
Market-based Restricted Stock Units
July 30, 2016
 
August 1, 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 July 30, 2016 and changes during the three- and nine-month periods then ended is presented below:
Activity during the Three Months Ended July 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 April 30, 2016
12,972

 

$43.49

 
 
 
 
Options granted
23

 

$56.20

 
 
 
 
Options exercised
(496
)
 

$33.56

 
 
 
 
Options forfeited
(52
)
 

$50.88

 
 
 
 
Options expired
—

 

$54.29

 
 
 
 
Options outstanding at July 30, 2016
12,447

 

$43.87

 
6.1
 

$248,416

Options exercisable at July 30, 2016
7,176

 

$37.49

 
4.6
 

$189,050

Options vested or expected to vest at July 30, 2016 (1)
12,000

 

$43.50

 
6.0
 

$244,009


 
(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 Nine Months Ended July 30, 2016
Options
Outstanding
(in thousands)
 
Weighted-
Average Exercise
Price Per Share
Options outstanding at October 31, 2015
12,181

 

$41.60

Options granted
1,738

 

$54.92

Options exercised
(1,137
)
 

$34.72

Options forfeited
(326
)
 

$49.89

Options expired
(9
)
 

$42.74

Options outstanding at July 30, 2016
12,447

 

$43.87
Summary of the Company's restricted stock unit award activity
A summary of the Company’s restricted stock unit award activity as of July 30, 2016 and changes during the three- and nine-month periods then ended is presented below: 
Activity during the Three Months Ended July 30, 2016
Restricted
Stock Units
Outstanding
(in thousands)
 
Weighted-
Average Grant-
Date Fair Value
Per Share
Restricted stock units outstanding at April 30, 2016
2,753

 

$49.89

Units granted
20

 

$51.53

Restrictions lapsed
(34
)
 

$43.49

Forfeited
(21
)
 

$49.83

Restricted stock units outstanding at July 30, 2016
2,718

 

$49.98


Activity during the Nine Months Ended July 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
997

 

$51.41

Restrictions lapsed
(848
)
 

$44.12

Forfeited
(129
)
 

$49.26

Restricted stock units outstanding at July 30, 2016
2,718

 

$49.98