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Stock-based compensation (Tables)

9 Months Ended

Jul. 31, 2023

The following table summarizes activity related to stock options for the nine months ended July 31, 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	(163)	115.67
Forfeited or expired	(10)	206.93
Outstanding at July 31, 2023	1,094	$	151.09	$	111,165	5.1 years
Expected to vest	245	$	214.42	$	10,006	7.5 years
Exercisable at July 31, 2023	846	$	132.58	$	101,014	4.4 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, 2023			July 31, 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 nine months ended July 31, 2023:


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


Vested	(6)	167.99
Restricted shares at July 31, 2023	—	$	—

The following table summarizes activity related to restricted share units during the nine months ended July 31, 2023:


	Number of Units	Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2022	81	$	223.77
Granted	39	237.18
Forfeited	(5)	241.37
Vested	(45)	219.06
Restricted share units at July 31, 2023	70	$	232.88

The following table summarizes activity related to director deferred compensation share equivalent units during the nine months ended July 31, 2023:


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

Distributions	(13)	52.50
Outstanding at July 31, 2023	78	$	84.02