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Stock-Based Compensation (Tables)
6 Months Ended
Apr. 30, 2017
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summarized Activity Related to Stock Options

The following table summarizes activity related to stock options for the six months ended April 30, 2017:

 

 

 

Number of

Options

 

 

Weighted-Average

Exercise Price Per

Share

 

 

Aggregate

Intrinsic Value

 

 

Weighted

Average

Remaining

Term

Outstanding at October 31, 2016

 

 

1,881

 

 

$

58.41

 

 

 

 

 

 

 

Granted

 

 

381

 

 

$

107.68

 

 

 

 

 

 

 

Exercised

 

 

(274

)

 

$

44.50

 

 

 

 

 

 

 

Forfeited or expired

 

 

(13

)

 

$

79.30

 

 

 

 

 

 

 

Outstanding at April 30, 2017

 

 

1,975

 

 

$

69.72

 

 

$

109,561

 

 

6.9 years

Vested or expected to vest at April 30, 2017

 

 

1,948

 

 

$

69.37

 

 

$

108,740

 

 

6.8 years

Exercisable at April 30, 2017

 

 

1,040

 

 

$

54.03

 

 

$

74,014

 

 

5.2 years

 

Fair Value Assumptions of Stock Options

The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:

 

Six months ended

 

April 30, 2017

 

April 30, 2016

 

Expected volatility

 

26.0%-29.2%

 

29.1%-30.4%

 

Expected dividend yield

 

0.91%-1.17%

 

 

1.54%

 

Risk-free interest rate

 

1.89%-2.06%

 

1.78%-1.90%

 

Expected life of the option (in years)

 

5.4-6.2

 

5.4-6.2

 

 

Summarized Activity Related to Restricted Stock

The following table summarizes activity related to restricted shares during the six months ended April 30, 2017:

 

 

 

Number of Shares

 

 

Weighted-Average

Grant Date Fair

Value

 

Restricted shares at October 31, 2016

 

 

60

 

 

$

73.56

 

Granted

 

 

22

 

 

$

107.76

 

Forfeited

 

 

(2

)

 

$

71.42

 

Vested

 

 

(24

)

 

$

73.41

 

Restricted shares at April 30, 2017

 

 

56

 

 

$

87.36

 

 

Summarized Activity Related to Restricted Stock Units

The following table summarizes activity related to restricted share units during the six months ended April 30, 2017:

 

 

 

Number of Units

 

 

Weighted-Average

Grant Date Fair

Value

 

Restricted share units at October 31, 2016

 

 

0

 

 

$

 

Granted

 

 

10

 

 

$

97.43

 

Restricted share units at April 30, 2017

 

 

10

 

 

$

97.43

 

 

Summarized Activity Related to Director Deferred Compensation Shares

The following table summarizes activity related to director deferred compensation share equivalent units during the six months ended April 30, 2017:

 

 

 

Number of Shares

 

 

Weighted-Average

Grant Date Fair

Value

 

Outstanding at October 31, 2016

 

 

99

 

 

$

41.72

 

Dividend equivalents

 

 

1

 

 

$

118.57

 

Distributions

 

 

(5

)

 

$

26.89

 

Outstanding at April 30, 2017

 

 

95

 

 

$

42.92