Stock Repurchase Program

12 Months Ended

Oct. 31, 2022

Our Board of Directors (the Board) previously approved a stock repurchase program (the Program) with authorization to purchase up to $1.0 billion of our common stock in December 2021. The Board approved a replenishment of the Program with authorization to purchase up to $1.5 billion in September 2022. As of October 31, 2022, $1.4 billion remained available for future repurchases under the program.

In August 2022, we entered into an accelerated stock repurchase agreement (the August 2022 ASR) to repurchase an aggregate of $240.0 million of our common stock. Pursuant to the August 2022 ASR, we made a prepayment of $240.0 million to receive initial deliveries of shares valued at $192.0 million. The remaining balance of $48.0 million was settled in October 2022. Total shares purchased under the August 2022 ASR were approximately 0.8 million shares, at an average purchase price of $307.60 per share.

Stock repurchase activities as well as the reissuance of treasury stock for employee stock-based compensation purposes were as follows:


	Year Ended October 31,
	2022		2021 (1)		2020
	(in thousands, except per share price)
Shares repurchased	3,609		2,780		1,585
Average purchase price per share	$	314.51	$	270.84	$	152.76
Aggregate purchase price	$	1,135,000	$	753,081	$	242,078
Reissuance of treasury stock	2,922		3,224		3,872

(1) Excluded 107,701 shares and $35.0 million equity forward contract that was settled in November 2021.