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Stock-Based Compensation (Tables)

6 Months Ended

Apr. 30, 2019

The following table summarizes activity related to stock options for the six months ended April 30, 2019:

	Number of Options			Weighted-Average Exercise Price Per Share		Aggregate Intrinsic Value		Weighted Average Remaining Term
Outstanding at October 31, 2018		1,885		$	85.33
Granted		348		$	124.89
Exercised		(251	)	$	57.48
Forfeited or expired		(12	)	$	118.70
Outstanding at April 30, 2019		1,970		$	95.67	$	99,042	7.0 years
Vested or expected to vest at April 30, 2019		1,949		$	95.38	$	98,592	6.9 years
Exercisable at April 30, 2019		1,067		$	78.87	$	71,609	5.6 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, 2019	April 30, 2018
Expected volatility	24.1%-24.5%	24.0%-26.7%
Expected dividend yield	1.04%	0.97%
Risk-free interest rate	2.84%-2.95%	2.09%-2.20%
Expected life of the option (in years)	5.3-6.2	5.4-6.2

The following table summarizes activity related to restricted shares during the six months ended April 30, 2019:

	Number of Shares			Weighted-Average Grant Date Fair Value
Restricted shares at October 31, 2018		53		$	108.82
Granted		34		$	129.44
Vested		(25	)	$	96.99
Restricted shares at April 30, 2019		62		$	124.86

The following table summarizes activity related to restricted share units during the six months ended April 30, 2019:

	Number of Units		Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2018		0	$	—
Granted		8	$	126.83
Restricted share units at April 30, 2019		8	$	126.83

The following table summarizes activity related to director deferred compensation share equivalent units during the six months ended April 30, 2019:

	Number of Shares		Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2018		107	$	51.24
Dividend equivalents		1	$	125.90
Outstanding at April 30, 2019		108	$	51.65