Share-Based Compensation Plans (Tables)

12 Months Ended

Oct. 31, 2013

Summary of Total Compensation Expense and Related Income Tax Benefit in Connection with Share-Based Compensation Plans

The following table summarizes our total compensation expense and related income tax benefit in connection with our share-based compensation plans for the years ended October 31, 2013, 2012, and 2011. Share-based compensation expense is recorded in selling, general and administrative expenses.

	Years Ended October 31,
(in thousands)	2013		2012		2011
Share-based compensation expense before income taxes	$	13,282	$	10,236	$	9,191
Income tax benefit		(5,512)		(4,247)		(3,805)
	$	7,770	$	5,989	$	5,386

Assumptions Used in Option Valuation Model

The assumptions used in the option valuation model for the years ended October 31, 2013, 2012, and 2011 are shown in the table below:

2013			2012		2011
Expected life from the date of grant		5.37 years		5.6 years		5.6 years
Expected stock price volatility		38.8%		41.6%		39.2% – 40.4%
Expected dividend yield		2.4%		3.0%		2.3% – 2.6%
Risk-free interest rate		1.8%		0.8%		1.0% – 2.1%
Weighted average fair value of option grants	$	7.52	$	5.25	$	6.52

RSU Activity

RSU activity during the year ended October 31, 2013 is summarized below:

	Number of Shares (in thousands)		Weighted-Average Grant Date Fair Value per Share
Outstanding at November 1, 2012		1,231	$	19.74
Granted		478		24.91
Issued (including 90 shares withheld for income taxes)		(267)		19.14
Forfeited or expired		(73)		19.28
Outstanding at October 31, 2013		1,369	$	21.66
Vested at October 31, 2013		267	$	19.14

Performance Share Activity

Performance share activity during the year ended October 31, 2013 is summarized below:

	Number of Shares (in thousands)		Weighted-Average Grant Date Fair Value per Share
Outstanding at November 1, 2012		698	$	22.99
Granted		479		20.46
Issued (including 45 shares withheld for income taxes)		(115)		18.97
Change in units based on performance		(130)		22.60
Forfeited		(33)		22.87
Outstanding at October 31, 2013		899	$	22.31
Vested at October 31, 2013		115	$	18.97

Stock options

Stock Option Activity

Stock option activity during the year ended October 31, 2013 is summarized below:

	Number of Shares (in thousands)		Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at November 1, 2012		1,693	$	20.68
Granted		234		25.30
Forfeited or expired		(14)		19.89
Exercised		(351)		19.80
Outstanding at October 31, 2013		1,562	$	21.57		4.30	$	9,277
Vested and exercisable at October 31, 2013		565	$	20.22		3.01	$	4,124

Age-Vested, Time-Vested, Price-Vested

Stock Option Activity

The combined plan activity for the Prior Plans during the year ended October 31, 2013 is summarized below:

	Number of Shares  (in thousands)		Weighted- Average Exercise Price per Share		Weighted- Average Remaining Contractual Term (in years)		Aggregate Intrinsic Value (in thousands)
Outstanding at November 1, 2012		1,117	$	13.80 – $19.61
Exercised		(298)		15.04 – 18.30
Forfeited or expired		(34)		15.94 – 20.12
Outstanding at October 31, 2013		785	$	13.66 – $20.60		1.60 – 41.17	$	8,005
Vested and exercisable at October 31, 2013		564	$	11.94 – $20.60		1.60 – 45.44	$	5,104