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STOCK OPTION AND RESTRICTED STOCK AWARDS (Tables)

12 Months Ended

Oct. 28, 2018

STOCK OPTION AND RESTRICTED STOCK AWARDS

Assumptions Used for the Binomial Lattice Model to Determine Fair Value of Options

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

		2018		2017		2016
Risk-free interest rate		1.69% - 2.7%		.88% - 2.5%		.23% - 2.3%
Expected dividends		1.6%		2.4%		2.8%
Expected volatility		22.3% - 23.0%		24.0% - 24.8%		25.2% - 29.0%
Weighted-average volatility		22.8%		24.5%		26.5%
Expected term (in years)		7.9 - 8.6		7.8 - 8.6		7.0 - 8.6

Stock Option Activity

Stock option activity at October 28, 2018 and changes during 2018 in millions of dollars and shares follow:

							Remaining
							Contractual		Aggregate
				Exercise			Term		Intrinsic
		Shares		Price*			(Years)		Value
Outstanding at beginning of year		11.2		$	81.39
Granted		.5			151.95
Exercised		(2.9)			75.62
Outstanding at end of year		8.8			87.08		5.80		$	413.6
Exercisable at end of year		7.0			82.92		5.26			349.4

*    Weighted-averages

Restricted Share Activity

The company’s restricted shares at October 28, 2018 and changes during 2018 in millions of shares follow:

				Grant-Date
		Shares		Fair Value*
Service based only
Nonvested at beginning of year		.7		$	95.90
Granted		.3			151.67
Vested		(.1)			91.92
Nonvested at end of year		.9			117.47
Performance/service and market/service based
Nonvested at beginning of year		.4		$	98.46
Granted		.1			145.33
Vested		(.2)			113.97
Nonvested at end of year		.3			110.56

*  Weighted-averages

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Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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