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Stock-Based Compensation (Tables)
 12 Months Ended
Oct. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summarized Activity Related to Stock Options

The following table summarizes activity related to stock options during 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

 

 

(387

)

 

$

48.68

 

 

 

 

 

 

 

Forfeited or expired

 

 

(18

)

 

$

108.33

 

 

 

 

 

 

 

Outstanding at October 31, 2018

 

 

1,885

 

 

$

85.33

 

 

$

72,193

 

 

6.5 years

Vested at October 31, 2018 or expected to vest

 

 

1,870

 

 

$

85.05

 

 

$

72,091

 

 

6.5 years

Exercisable at October 31, 2018

 

 

956

 

 

$

66.82

 

 

$

53,374

 

 

5.0 years
Summarized Information on Currently Outstanding Options

Summarized information on currently outstanding options follows:

 

 

 

Range of Exercise Price

 

 

 

$27 - $44

 

 

$45 - $73

 

 

$74 - $129

 

Number outstanding

 

 

230

 

 

 

716

 

 

 

939

 

Weighted-average remaining contractual life, in years

 

 

2.4

 

 

 

6.0

 

 

 

8.0

 

Weighted-average exercise price

 

$

40.85

 

 

$

69.19

 

 

$

108.53

 

Number exercisable

 

 

230

 

 

 

491

 

 

 

235

 

Weighted-average exercise price

 

$

40.85

 

 

$

68.40

 

 

$

88.92

 
Fair Value Assumptions of Stock Options 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:

 

 

 

 

2018

 

 

 

2017

 

 

 

2016

 

Expected volatility

 

24.0%-26.7%

 

 

26.0%-29.2%

 

 

29.1%-30.4%

 

Expected dividend yield

 

0.97%

 

 

0.91%-1.17%

 

 

1.54%

 

Risk-free interest rate

 

2.09%-2.20%

 

 

1.89%-2.06%

 

 

1.78%-1.90%

 

Expected life of the option (in years)

 

5.4-6.2

 

 

5.4-6.2

 

 

5.4-6.2

 
Summarized Activity Related to Restricted Stock

The following table summarizes activity related to restricted shares during 2018:

 

 

 

Number of

Shares

 

 

Weighted˗Average

Grant Date Fair

Value Per Share

 

Restricted at October 31, 2017

 

 

58

 

 

$

90.38

 

Granted

 

 

22

 

 

$

127.89

 

Forfeited

 

 

(1

)

 

$

95.20

 

Vested

 

 

(26

)

 

$

83.95

 

Restricted at October 31, 2018

 

 

53

 

 

$

108.82

 
Summarized Activity Related to Restricted Stock Units

The following table summarizes activity related to restricted share units in 2018:

 

 

 

Number of

Units

 

 

Weighted˗Average Grant Date Fair

Value

 

Restricted share units at October 31, 2017

 

 

0

 

 

$

—

 

Granted

 

 

8

 

 

$

126.38

 

Vested

 

 

(8

)

 

$

126.38

 

Restricted share units at October 31, 2018

 

 

0

 

 

$

—

 
Summarized Activity Related to Director Deferred Compensation Shares

The following table summarizes activity related to director deferred compensation share equivalent units during 2018:

 

 

 

Number of

Shares

 

 

Weighted˗Average

Grant Date Fair

Value Per Share

 

Outstanding at October 31, 2017

 

 

101

 

 

$

46.74

 

Restricted stock units vested

 

 

5

 

 

$

126.49

 

Dividend equivalents

 

 

1

 

 

$

138.50

 

Outstanding at October 31, 2018

 

 

107

 

 

$

51.24