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Stock-based compensation (Tables)

6 Months Ended

Apr. 30, 2023

The following table summarizes activity related to stock options for the six months ended April 30, 2023:


	Number of Options	Weighted- Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted Average Remaining Term
Outstanding at October 31, 2022	1,187	$	141.82
Granted	80	239.44
Exercised	(101)	118.73
Forfeited or expired	(9)	209.26
Outstanding at April 30, 2023	1,157	$	148.97	$	83,261	5.2 years
Expected to vest	251	$	213.72	$	4,992	7.7 years
Exercisable at April 30, 2023	902	$	130.77	$	78,167	4.5 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, 2023			April 30, 2022
Expected volatility	30.4%	-	31.8%	30.6%	-	30.8%
Expected dividend yield	1.12%	-	1.27%	0.76%	-	0.76%
Risk-free interest rate	3.79%	-	4.21%	1.36%	-	1.47%
Expected life of the option (in years)	5.0	-	6.2	5.3	-	6.2

The following table summarizes activity related to restricted shares during the six months ended April 30, 2023:


	Number of Shares	Weighted-Average Grant Date Fair Value
Restricted shares at October 31, 2022	6	$	167.99


Vested	(4)	157.94
Restricted shares at April 30, 2023	2	$	189.72

The following table summarizes activity related to restricted share units during the six months ended April 30, 2023:


	Number of Units	Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2022	81	$	223.77
Granted	36	237.32
Forfeited	(4)	242.31
Vested	(44)	219.20
Restricted share units at April 30, 2023	69	$	232.97

The following table summarizes activity related to director deferred compensation share equivalent units during the six months ended April 30, 2023:


	Number of Shares	Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2022	90	$	77.70

Distributions	(8)	51.97
Outstanding at April 30, 2023	82	$	81.77