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Stock Based Compensation Plans
6 Months Ended
Apr. 30, 2014
Stock Based Compensation Plans Disclosure [Abstract]  
Stock-Based Compensation Plans

12. Stock-Based Compensation Plans

 

The Company recognized total cost related to its stock-based compensation plans as follows:

   Three Months Ended  Six Months Ended
   April 30,  April 30,
(in thousands)  2014 2013  2014 2013
Omnibus Incentive Plans:          
Stock options $ 3,811$ 3,677 $ 8,192$ 7,525
Restricted shares   8,822  8,008   16,445  16,437
Phantom stock units   57  129   114  273
Employee Stock Purchase Plan   -  -   383  376
Incentive Plan – Stock Alternative   185  2   279  198
Atlanta Capital Plan   613  352   1,226  703
Parametric Plan   1,243  822   2,964  1,645
Total stock-based compensation expense $ 14,731$ 12,990 $ 29,603$ 27,157

The total income tax benefit recognized for stock-based compensation arrangements was $4.6 million and $5.0 million for the three months ended April 30, 2014 and 2013, respectively, and $9.9 million and $10.5 million for the six months ended April 30, 2014 and 2013, respectively.

 

Stock Options

Stock option transactions under the Company's Omnibus Incentive Plans for the six months ended April 30, 2014 are summarized in the table below.

(share and intrinsic value figures in thousands)Shares Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term Aggregate Intrinsic Value 
Options outstanding, beginning of period 23,911 $ 28.43    
Granted 1,806   41.63    
Exercised (1,264)   23.71    
Forfeited/expired (71)   28.79    
Options outstanding, end of period 24,382 $ 29.65 4.8$ 199,121 
Options exercisable, end of period 16,408 $ 29.36 3.3$ 142,786 
Vested or expected to vest 24,342 $ 29.64 4.8$ 198,983 

The Company received $28.0 million and $83.5 million related to the exercise of options for the six months ended April 30, 2014 and 2013, respectively.

 

As of April 30, 2014, there was $42.1 million of compensation cost related to unvested stock options granted not yet recognized. That cost is expected to be recognized over a weighted-average period of 2.3 years.

Restricted Shares

 

The restricted share activity for the six months ended April 30, 2014 under the Company's Omnibus Incentive Plans is summarized in the following table:

     Weighted-
     Average
     Grant
     Date Fair
  (share figures in thousands)Shares Value
  Unvested, beginning of period 3,911 $ 27.60
  Granted 1,251   41.27
  Vested (1,170)   27.28
  Forfeited (47)   30.13
  Unvested, end of period 3,945 $ 32.00

As of April 30, 2014, there was $96.8 million of compensation cost related to unvested awards not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.2 years.

Phantom Stock Units

 

In the six months ended April 30, 2014 6,145 phantom stock units were issued to non-employee Directors pursuant to the Company's 2013 Omnibus Incentive Plan. As of April 30, 2014, there was $0.2 million of compensation cost related to unvested awards not yet recognized. That cost is expected to be recognized over a weighted-average period of 1.2 years.