Stock Repurchase Program

12 Months Ended

Oct. 31, 2023

In fiscal 2022, our Board of Directors approved a stock repurchase program (the Program) with authorization to purchase up to $1.5 billion of our common stock. As of October 31, 2023, $194.3 million remained available for future repurchases under the Program.

In August 2023, we entered into an accelerated stock repurchase agreement (the August 2023 ASR) to repurchase an aggregate of $300.0 million of our common stock. Pursuant to the August 2023 ASR, we made a prepayment of $300.0 million to receive initial deliveries of shares valued at $255.0 million. The remaining balance of $45.0 million was settled in November 2023. Total shares purchased under the August 2023 ASR were approximately 0.6 million shares, at an average purchase price of $466.71 per share.

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


	Year Ended October 31,
	2023 (1)		2022		2021 (2)
	(in thousands, except per share price)
Shares repurchased	2,992		3,609		2,780
Average purchase price per share	$	387.92	$	314.51	$	270.84
Aggregate purchase price	$	1,160,724	$	1,135,000	$	753,081
Reissuance of treasury stock	2,670		2,922		3,224

(1) Excludes 73,903 shares and $45.0 million equity forward contract that was settled in November 2023.

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