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Stock-Based Compensation (Tables)

9 Months Ended

Jul. 31, 2018

The following table summarizes activity related to stock options for the nine months ended July 31, 2018:

	Number of Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted Average Remaining Term
Outstanding at October 31, 2017		1,922		$	70.08
Granted		368		$	127.67
Exercised		(354	)	$	48.94
Forfeited or expired		(11	)	$	108.42
Outstanding at July 31, 2018		1,925		$	84.76	$	94,985	6.7 years
Vested or expected to vest at July 31, 2018		1,908		$	84.46	$	94,718	6.7 years
Exercisable at July 31, 2018		988		$	66.14	$	67,126	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, 2018	July 31, 2017
Expected volatility	24.0%-26.7%	26.0%-29.2%
Expected dividend yield	0.97%	0.91%-1.17%
Risk-free interest rate	2.09%-2.20%	1.89%-2.06%
Expected life of the option (in years)	5.4-6.2	5.4-6.2

The following table summarizes activity related to restricted shares during the nine months ended July 31, 2018:

	Number of Shares			Weighted-Average Grant Date Fair Value
Restricted shares at October 31, 2017		58		$	90.38
Granted		21		$	127.89
Vested		(24	)	$	85.15
Restricted shares at July 31, 2018		55		$	107.39

The following table summarizes activity related to restricted share units during the nine months ended July 31, 2018:

	Number of Units		Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2017		0	$	—
Granted		8	$	126.38
Restricted share units at July 31, 2018		8	$	126.38

The following table summarizes activity related to director deferred compensation share equivalent units during the nine months ended July 31, 2018:

	Number of Shares		Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2017		101	$	46.74
Dividend equivalents		1	$	138.21
Outstanding at July 31, 2018		102	$	47.34