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Share-Based Compensation Plans (Tables)
 12 Months Ended
Oct. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
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 2014, 2013, and 2012.
 
Years Ended October 31,
(in millions)
2014
 
2013
 
2012
Share-based compensation expense before income taxes
$
16.3

 
$
13.3

 
$
10.2

Income tax benefit
(6.8
)
 
(5.5
)
 
(4.2
)
 
$
9.5

 
$
7.8

 
$
6.0
RSU Activity
RSU activity during 2014 is summarized below:
 
Number of Shares (in millions)
 
Weighted-Average Grant Date Fair Value per Share
Nonvested at November 1, 2013
1.4

 
$
21.7

Granted
0.3

 
27.8

Vested (including 0.1 shares withheld for income taxes)
(0.2
)
 
19.8

Forfeited
(0.1
)
 
22.2

Nonvested at October 31, 2014
1.4

 
$
23.4

Vested at October 31, 2014
0.2

 
$
20.1
Stock Option Activity
The combined plan activity for the Prior Plans during 2014 is summarized below:
 
Number of Shares
(in millions)
 
Weighted-Average Exercise Price per Share
 
Weighted-Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value (in millions)
Outstanding at November 1, 2013
0.8

 
$
17.3

 
 
 
 
Exercised
(0.2
)
 
18.9

 
 
 
 
Outstanding at October 31, 2014
0.6

 
$
16.8

 
17.8
 
$
6.2

Exercisable at October 31, 2014
0.4

 
$
18.2

 
9.2
 
$
3.6

Stock option activity during 2014 is summarized below:
 
Number of Shares
(in millions)
 
Weighted-Average Exercise Price per Share
 
Weighted-Average Remaining Contractual Term (in years)
 
Aggregate Intrinsic Value (in millions)
Outstanding at November 1, 2013
1.6

 
$
21.6

 
 
 
 
Exercised
(0.4
)
 
20.9

 
 
 
 
Outstanding at October 31, 2014
1.2

 
$
21.8

 
3.8
 
$
7.2

Exercisable at October 31, 2014
0.5

 
$
20.2

 
3.7
 
$
3.5
Performance Share Activity
Performance share activity, including TSR performance shares awarded during 2014, is summarized below:
 
Number of Shares (in millions)
 
Weighted-Average Grant Date Fair Value per Share
Nonvested at November 1, 2013
0.9

 
$
22.3

Granted
0.4

 
27.7

Vested (including 0.1 shares withheld for income taxes)
(0.2
)
 
25.0

Nonvested at October 31, 2014
1.1

 
$
23.9
Assumptions Used in Option Valuation Model
The assumptions used in the Monte Carlo simulation model for 2014 and the Black-Scholes options-pricing model for 2013 and 2012 are shown in the table below.
 
Monte Carlo
 
Black-Scholes
 
Black-Scholes
 
2014
 
2013
 
2012
Expected life(1)
2.15 years

 
5.37 years

 
5.6 years

Expected stock price volatility(2)
19.0
%
 
38.8
%
 
41.6
%
Expected dividend yield(3)
2.4
%
 
2.4
%
 
3.0
%
Risk-free interest rate(4)
0.6
%
 
1.8
%
 
0.8
%
Stock price(5)
$
26.6

 
N/A*

 
N/A*

Weighted average fair value of option grants
N/A

 
$
7.5

 
$
5.3

*
Not Applicable
(1) For TSR awards valued under the Monte Carlo simulation model, the expected life represents the remaining performance period of the awards. For stock options valued under the Black-Scholes options-pricing model, the expected life is based on observed historical exercise patterns of the previously granted options adjusted to reflect the change in vesting and expiration dates.
(2) For the Monte Carlo simulation model, the expected volatility for each grant is determined based on the historical volatility of our common stock over a period equal to the remaining term of the performance period from the date of grant for all awards. For the Black-Scholes options-pricing model, the expected volatility is based on considerations of implied volatility from publicly traded and quoted options on our common stock and the historical volatility of our common stock.
(3) The dividend yield is based on the historical dividend yield over the expected life of the awards granted.
(4) For the Monte Carlo simulation and Black-Scholes options-pricing models, the risk-free interest rate is based on the continuous compounded yield on U.S. Treasury Constant Maturity Rates. For TSR awards valued under the Monte Carlo simulation model, the remaining term is determined over a period of time that is commensurate with the performance period from the grant date. For stock option awards valued under the Black-Scholes options-pricing models, the remaining term is equal to the expected term of the option.
(5) The stock price is the closing price of our common stock on the valuation date.