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Stock-Based Compensation Plans (Tables)
 12 Months Ended
Oct. 31, 2020
Share-based Payment Arrangement [Abstract]  
Schedule of compensation costs related to stock-based awards
Compensation costs related to stock-based compensation awards were as follows (in thousands):
Fiscal Years Ended October 31202020192018
Unrestricted common stock awards$693 $592 $530 
Stock option awards9,163 6,537 5,006 
Performance share awards2,123 3,070 3,628 
Restricted stock unit awards3,429 3,230 2,997 
Total compensation cost for stock-based awards$15,408 $13,429 $12,161 
Related tax benefit from stock-based awards$3,696 $3,200 $2,905 
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 31202020192018
Expected life of option in years6.316.316.04
Expected stock price volatility19.53 %19.83 %20.58 %
Risk-free interest rate1.73 %2.77 %2.21 %
Expected dividend yield0.99 %1.18 %0.97 %
Per share weighted-average fair value at date of grant$15.23 $12.83 $14.25 
Schedule of stock options activity
The table below presents stock option activity for fiscal 2020:
 Stock Option AwardsWeighted-Average Exercise PriceWeighted-Average
Contractual Life (years)		Aggregate Intrinsic
Value (in thousands)
Outstanding as of October 31, 20192,848,120 $44.34 5.7$93,392 
Granted536,890 76.07   
Exercised(734,398)31.10 
Forfeited(4,009)75.23   
Outstanding as of October 31, 20202,646,603 $54.40 6.2$73,305 
Exercisable as of October 31, 20201,609,770 $45.22 4.8$59,364 
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 31202020192018
Market value of stock options exercised$56,761 $92,352 $70,775 
Intrinsic value of stock options exercised1
$33,920 $62,288 $53,778 
1    Intrinsic value is calculated as the amount by which the stock price at exercise date exceeded the option exercise price.
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 31202020192018
Weighted-average fair value per award at date of grant$77.33 $59.58 $65.40 
Fair value of performance share awards vested$6,271 $6,300 $8,419 
Schedule of unvested performance share awards and the weighted average fair value at the date of grant
The table below presents fiscal 2020 activity for unvested performance share awards:
 Performance SharesWeighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2019192,854 $59.47 
Granted81,655 77.33 
Vested(82,782)54.52 
Forfeited(4,306)61.27 
Unvested as of October 31, 2020187,421 $67.58 
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 31202020192018
Weighted-average fair value per award at date of grant$74.55 $66.26 $63.24 
Fair value of restricted stock units vested$3,410 $3,083 $4,888 
Schedule of unvested restricted stock shares and the weighted average fair value at the date of grant
The table below presents fiscal 2020 activity for unvested restricted stock units:
 Restricted Stock UnitsWeighted-Average Fair Value at Date
of Grant
Unvested as of October 31, 2019124,467 $65.30 
Granted27,161 74.55 
Vested(48,212)64.97 
Forfeited(3,136)70.40 
Unvested as of October 31, 2020100,280 $67.69