STOCK OPTION AND RESTRICTED STOCK AWARDS (Tables)

12 Months Ended

Oct. 31, 2016

The assumptions used for the binomial lattice model to determine the fair value of options follow:


	2016	2015	2014
Risk-free interest rate	.23% - 2.3%	.04% - 2.3%	.03% - 2.9%
Expected dividends	2.8%	2.5%	2.3%
Expected volatility	25.2% - 29.0%	23.4% - 25.7%	25.9% - 32.0%
Weighted-average volatility	26.5%	25.6%	31.9%
Expected term (in years)	7.0 - 8.6	7.2 - 8.2	7.3 - 7.4

Stock option activity at October 31, 2016 and changes during 2016 in millions of dollars and shares follow:


				Remaining
				Contractual	Aggregate
		Exercise		Term	Intrinsic
	Shares	Price*		(Years)	Value
Outstanding at beginning of year	14.8	$	77.39
Granted	3.5		79.24
Exercised	(.7)		51.98
Expired or forfeited	(.1)		82.95
Outstanding at end of year	17.5		78.73	6.10	$	153.0
Exercisable at end of year	11.8		76.75	4.90		126.6

* Weighted-averages

The company’s nonvested restricted shares at October 31, 2016 and changes during 2016 in millions of shares follow:


		Grant-Date
	Shares	Fair Value*
Service based only
Nonvested at beginning of year	.3	$	87.58
Granted	.1		79.84
Vested	(.1)		87.12
Nonvested at end of year	.3		84.86
Performance/service and market/service based
Nonvested at beginning of year	.4	$	96.87
Granted	.1		88.30
Expired or forfeited	(.1)		93.69
Nonvested at end of year	.4		94.88

* Weighted-averages