Stock-Based Compensation Plans (Tables)

12 Months Ended

Oct. 31, 2019

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of compensation costs related to stock-based awards

ompensation costs related to stock-based awards were as follows (in thousands):

Fiscal Years Ended October 31	2019		2018		2017
Unrestricted common stock awards	$	592	$	530	$	538
Stock option awards	6,537		5,006		5,496
Restricted stock units	3,230		2,997		2,300
Performance share awards	3,070		3,628		5,183
Total compensation cost for stock-based awards	$	13,429	$	12,161	$	13,517
Related tax benefit from stock-based awards	$	3,200	$	2,905	$	5,001

Schedule of stock options activity

The table below presents stock option activity for fiscal 2019:

	Stock Option Awards		Weighted-Average Exercise Price		Weighted-Average Contractual Life (years)	Aggregate Intrinsic Value (in thousands)
Outstanding as of October 31, 2018	3,738,604		$	34.01	5.0	$	87,470
Granted	507,028		58.62
Exercised	(1,388,044	)	21.66
Canceled/forfeited	(9,468	)	55.24
Outstanding as of October 31, 2019	2,848,120		$	44.34	5.7	$	93,392
Exercisable as of October 31, 2019	1,861,173		$	35.98	4.4	$	76,592

Schedule of total market value and the intrinsic value of options exercised

The table below presents the total market value of stock options exercised and the total intrinsic value of options exercised during the following fiscal years (in thousands):

Fiscal Years Ended October 31	2019		2018		2017
Market value of stock options exercised	$	92,352	$	70,775	$	58,976
Intrinsic value of options exercised1	$	62,288	$	53,778	$	48,017

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Intrinsic value is calculated as the amount by which the stock price at exercise date exceeded the option exercise price.

Schedule of weighted-average valuation assumptions of stock-based compensation

The table below illustrates the weighted-average valuation assumptions for options granted in the following fiscal periods:

Fiscal Years Ended October 31	2019			2018			2017
Expected life of option in years	6.31			6.04			6.02
Expected stock price volatility	19.83		%	20.58		%	22.15		%
Risk-free interest rate	2.77		%	2.21		%	2.03		%
Expected dividend yield	1.18		%	0.97		%	1.01		%
Per share weighted-average fair value at date of grant	$	12.83		$	14.25		$	12.55

Schedule of restricted stock and restricted stock unit awards granted

Factors related to the company's restricted stock unit awards are as follows (in thousands, except per award data):

Fiscal Years Ended October 31	2019		2018		2017
Weighted-average per award fair value at date of grant	$	66.26	$	63.24	$	66.09
Fair value of restricted stock units vested	$	3,083	$	4,888	$	3,604

Schedule of unvested restricted stock shares and the weighted average fair value at the date of grant

The table below summarizes the activity during fiscal 2019 for unvested restricted stock units:

	Restricted Stock Units		Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2018	99,554		$	59.15
Granted	76,496		66.26
Vested	(47,357	)	54.38
Forfeited	(4,226	)	58.94
Unvested as of October 31, 2019	124,467		$	65.30

Schedule of performance share awards granted

Factors related to the company's performance share awards are as follows (in thousands, except per award data):

Fiscal Years Ended October 31	2019		2018		2017
Weighted-average per award fair value at date of grant	$	59.58	$	65.40	$	54.52
Fair value of performance share awards vested	$	6,300	$	8,419	$	7,018

Schedule of unvested performance share awards and the weighted average fair value at the date of grant

The table below summarizes the activity during fiscal 2019 for unvested performance share awards:

	Performance Shares		Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2018	221,392		$	50.96
Granted	69,600		59.58
Vested	(91,803	)	38.89
Canceled/forfeited	(6,335	)	61.34
Unvested as of October 31, 2019	192,854		$	59.47