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STOCK OPTION AND RESTRICTED STOCK AWARDS (Tables)

12 Months Ended

Nov. 03, 2019

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:

​

​	​	​	​	​	​	​	​
​		2019		2018		2017
Risk-free interest rate		2.68% - 3.1%		1.69% - 2.7%		.88% - 2.5%	​
Expected dividends	​	2.0%	​	1.6%	​	2.4%	​
Expected volatility		28.8% - 31.8%		22.3% - 23.0%		24.0% - 24.8%	​
Weighted-average volatility	​	30.0%	​	22.8%	​	24.5%	​
Expected term (in years)		8.0 - 8.5		7.9 - 8.6		7.8 - 8.6	​

​

Stock Option Activity

Stock option activity at November 3, 2019 and changes during 2019 in millions of dollars and shares follow:

​

​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	Remaining	​	​	​
​	​	​	​	​	​	​	Contractual	​	Aggregate
​	​	​	​	Exercise		​	Term	​	Intrinsic
​	​	Shares		Price*			(Years)		Value
Outstanding at beginning of year		8.8		$	87.08	​	​	​	​	​	​
Granted		.4	​		148.14	​	​	​	​	​	​
Exercised		(2.2)	​		79.64	​	​	​	​	​	​
Outstanding at end of year		7.0	​		92.85		6.28		$	579.1	​
Exercisable at end of year		6.1	​		86.65		5.93	​		548.3	​

*    Weighted-averages

​

Restricted Share Activity

The company’s restricted shares at November 3, 2019 and changes during 2019 in millions of shares follow:

​

​	​	​	​	​	​	​
​	​	​	​	Grant-Date
​	​	Shares	​	Fair Value*
Service based only	​	​	​	​	​	​
Nonvested at beginning of year		.9	​	$	117.47	​
Granted		.4	​		149.54	​
Vested		(.2)	​		88.76	​
Nonvested at end of year		1.1	​		130.72	​
Performance/service and market/service based	​	​	​	​	​	​
Nonvested at beginning of year		.3	​	$	110.56	​
Granted		.1	​		140.49	​
Vested		(.3)	​		88.30	​
Performance change		.2	​		88.30	​
Nonvested at end of year		.3	​		130.78	​

* 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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