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Stock-Based Compensation (Tables)

9 Months Ended

Jul. 31, 2021

The following table summarizes activity related to stock options for the nine months ended July 31, 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	(221)	109.69
Forfeited or expired	(38)	151.40
Outstanding at July 31, 2021	1,321	$	129.29	$	127,963	6.2 years
Expected to vest	568	$	155.60	$	40,072	7.6 years
Exercisable at July 31, 2021	748	$	109.14	$	87,554	5.2 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:


Nine Months Ended	July 31, 2021			July 31, 2020
Expected volatility	30.8%	-	32.6%	24.5%	-	30.5%
Expected dividend yield	0.83%	-	0.85%	0.87%	-	1.16%
Risk-free interest rate	0.43%	-	0.77%	0.44%	-	1.69%
Expected life of the option (in years)	5.3	-	6.2	5.3	-	6.3

The following table summarizes activity related to restricted shares during the nine months ended July 31, 2021:


	Number of Shares	Weighted-Average Grant Date Fair Value
Restricted shares at October 31, 2020	58	$	148.75
Granted	—	—
Forfeited	(3)	148.13
Vested	(33)	141.32
Restricted shares at July 31, 2021	22	$	160.31

The following table summarizes activity related to restricted share units during the nine months ended July 31, 2021:


	Number of Units	Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2020	—	$	—
Granted	87	202.26
Forfeited	(12)	201.96
Vested	(1)	201.50
Restricted share units at July 31, 2021	74	$	202.31

The following table summarizes activity related to director deferred compensation share equivalent units during the nine months ended July 31, 2021:


	Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2020	120	$	60.81
Dividend equivalents	1	205.41
Distributions	(15)	62.26
Outstanding at July 31, 2021	106	$	61.86