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Stock-Based Compensation (Tables)
12 Months Ended
Oct. 31, 2025
Share-Based Payment Arrangement [Abstract]  
Summarized Activity Related to Stock Options
The following table summarizes activity related to stock options during 2025:
Number of
Options
Weighted˗Average
Exercise Price
Per Share
Aggregate
Intrinsic
Value
Weighted˗Average
Remaining
Term
Outstanding at October 31, 2024855 $167.26 
Granted60 209.73 
Exercised(93)107.74 
Forfeited or expired(11)225.98 
Outstanding at October 31, 2025811 176.40 $48,471 4.3 years
Expected to vest142 231.36 1,226 7.9 years
Exercisable at October 31, 2025666 $164.53 $47,221 3.6 years
Summarized Information on Currently Outstanding Options
Fair Value Assumptions of Stock Options
The fair value of each option grant was estimated at the date of the grant using the Black-Scholes option-pricing model with the following assumptions:
202520242023
Expected volatility
30.3%-31.2%
30.3%-31.7%
30.4%-31.8%
Expected dividend yield
1.51%
1.15%-1.20%
1.12%-1.27%
Risk-free interest rate
4.43%-4.48%
4.22%-4.52%
3.79%-4.21%
Expected life of the option (in years)
5.0-6.3
5.0-6.2
5.0-6.2
Information Related to Stock Options
Other details regarding stock options as follows:
202520242023
Recognized compensation expense before tax$3,131$4,616$6,655
Income tax benefit associated with stock option exercises$1,734$4,568$3,717
Weighted-average expected volatility used to value options granted
30.5%30.7%30.6%
Weighted average grant date fair value of stock options granted$68.11$79.84$77.99
Intrinsic value of options exercised$10,553$35,620$23,706
Cash received from the exercise of stock options$9,014$31,067$21,373
Summarized Activity Related to Restricted Stock Units
The following table summarizes activity related to restricted share units in 2025:
Number of
Units
Weighted˗Average Grant Date Fair
Value
Restricted share units at October 31, 202467 $238.83 
Granted52 235.69 
Forfeited(10)230.72 
Vested(36)246.22 
Restricted share units at October 31, 202573 $234.14 
Information Related to RSA's
Other details regarding restricted share units as follows:
202520242023
Recognized compensation expense before tax$9,408$8,853$8,765
Income tax benefit associated with of awards vested$1,252$1,242$2,039
Fair value of awards vested$6,875$7,332$9,955
Share-Based Compensation Arrangements by Share-Based Payment Award, Performance-Based Units, Vested and Expected to Vest
The following table summarizes activity related to performance share units in 2025:
Number of
Units
Weighted˗Average Grant Date Fair
Value
Performance share units as October 31,202460 $230.26 
Granted (1)
33 199.30 
Forfeited(7)217.34 
Performance adjustments (2)
(8)231.34 
Vested(15)231.34 
Performance share units as October 31, 202564 $215.12 
(1) Granted at target performance achievement.
(2) Reflects impact of changes in performance relative to target achievement.
Information Related to Performance Shares
Other details regarding performance share incentive awards as follows:
202520242023
Recognized compensation expense before tax$5,875$5,070$6,543
Income tax benefit associated with of awards vested$711$1,072$3,020
Fair value of awards vested$3,376$6,509$8,901
Summarized Activity Related to Director Deferred Compensation Shares
The following table summarizes activity related to director deferred compensation share equivalent units during 2025:
Number of
Shares
Weighted˗Average
Grant Date Fair
Value Per Share
Outstanding at October 31, 202465 $115.66 
Restricted stock units vested and deferred fees6 244.50 
Dividend equivalents1 210.16 
Distributions(2)77.88 
Outstanding at October 31, 202570 $130.06