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Stock-based compensation (Tables)

9 Months Ended

Jul. 31, 2022

The following table summarizes activity related to stock options for the nine months ended July 31, 2022:


	Number of Options	Weighted- Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted Average Remaining Term
Outstanding at October 31, 2021	1,235	$	130.93
Granted	83	267.51
Exercised	(78)	115.65
Forfeited or expired	(17)	200.31
Outstanding at July 31, 2022	1,223	$	140.23	$	113,724	5.5 years
Expected to vest	372	$	185.00	$	19,836	7.3 years
Exercisable at July 31, 2022	849	$	120.50	$	93,792	4.7 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, 2022			July 31, 2021
Expected volatility	30.6%	-	30.8%	30.8%	-	32.6%
Expected dividend yield	0.76%	-	0.76%	0.83%	-	0.85%
Risk-free interest rate	1.36%	-	1.47%	0.43%	-	0.77%
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 nine months ended July 31, 2022:


	Number of Shares	Weighted-Average Grant Date Fair Value
Restricted shares at October 31, 2021	19	$	157.36


Vested	(12)	153.64
Restricted shares at July 31, 2022	7	$	166.68

The following table summarizes activity related to restricted share units during the nine months ended July 31, 2022:


	Number of Units	Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2021	67	$	202.81
Granted	41	263.53
Forfeited	(9)	223.93
Vested	(15)	201.79
Restricted share units at July 31, 2022	84	$	230.18

The following table summarizes activity related to director deferred compensation share equivalent units during the nine months ended July 31, 2022:


	Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2021	106	$	68.11
Dividend equivalents	1	228.45
Distributions	(16)	72.83
Outstanding at July 31, 2022	91	$	69.00