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Stock-Based Compensation (Tables)

6 Months Ended

Apr. 30, 2021

The following table summarizes activity related to stock options for the six months ended April 30, 2021:


	Number of Options	Weighted- Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted Average Remaining Term
Outstanding at October 31, 2020	1,487	$	122.45
Granted	93	201.43
Exercised	(176)	107.02
Forfeited or expired	(19)	140.03
Outstanding at April 30, 2021	1,385	$	129.45	$	113,525	6.8 years
Expected to vest	592	$	156.11	$	32,752	8.2 years
Exercisable at April 30, 2021	788	$	109.22	$	80,514	5.8 years

The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:


Six Months Ended	April 30, 2021			April 30, 2020
Expected volatility	30.8%	-	32.6%	24.5%	-	29.2%
Expected dividend yield	0.83%	-	0.85%	0.92%	-	1.16%
Risk-free interest rate	0.43%	-	0.77%	0.50%	-	1.69%
Expected life of the option (in years)	5.3	-	6.2	5.3	-	6.2

The following table summarizes activity related to restricted shares during the six months ended April 30, 2021:


	Number of Shares	Weighted-Average Grant Date Fair Value
Restricted shares at October 31, 2020	58	$	148.75
Granted	—	—
Forfeited	(2)	149.37
Vested	(28)	138.07
Restricted shares at April 30, 2021	28	$	159.56

The following table summarizes activity related to restricted share units during the six months ended April 30, 2021:


	Number of Units	Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2020	—	$	—
Granted	86	202.18
Forfeited	(7)	201.33
Vested	(1)	201.50
Restricted share units at April 30, 2021	78	$	202.26

The following table summarizes activity related to director deferred compensation share equivalent units during the six months ended April 30, 2021:


	Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2020	120	$	60.81
Dividend equivalents	—	—
Distributions	(11)	68.28
Outstanding at April 30, 2021	109	$	60.86