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STOCK OPTION AND RESTRICTED STOCK AWARDS (Tables) | 12 Months Ended
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Oct. 31, 2021
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2021 |  | 2020 |  | 2019 |
Risk-free interest rate* |  | .47% |  | 1.67% |  | 2.85% | ​
Expected dividends | ​ | 1.2% | ​ | 1.8% | ​ | 2.0% | ​
Volatility* | ​ | 31.0% | ​ | 26.0% | ​ | 30.0% | ​
Expected term (in years)* |  | 5.5 |  | 5.7 |  | 8.2 | ​
* Weighted-averages ​
Stock Option Activity | Stock option activity at October 31, 2021, and changes during 2021 in millions of dollars and shares follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Remaining | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | Contractual | ​ | Aggregate |
​ | ​ | ​ | ​ | Exercise | ​ | Term | ​ | Intrinsic |
​ | ​ | Shares |  | Price* |  | (Years) |  | Value |
Outstanding at beginning of year |  | 3.7 | ​ | $ | 107.30 | ​ | ​ | ​ | ​ | ​ | ​
Granted |  | .3 | ​ |  | 254.83 | ​ | ​ | ​ | ​ | ​ | ​
Exercised |  | (1.5) | ​ |  | 99.38 | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at end of year |  | 2.5 | ​ |  | 127.82 |  | 5.07 |  | $ | 527.3 | ​
Exercisable at end of year |  | 1.9 | ​ |  | 103.25 |  | 4.00 | ​ |  | 445.0 | ​
* Weighted-averages ​ ​
Restricted Stock Units Activity | The company’s restricted stock units at October 31, 2021 and changes during 2021 in millions of shares follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Grant-Date |
​ | ​ | Shares | ​ | Fair Value* |
Service-only based | ​ | ​ | ​ | ​ | ​ | ​
Nonvested at beginning of year |  | .9 | ​ | $ | 155.47 | ​
Granted |  | .2 | ​ |  | 258.86 | ​
Vested |  | (.5) | ​ |  | 190.87 | ​
Forfeited | ​ | (.1) | ​ | ​ | 163.16 | ​
Nonvested at end of year |  | .5 | ​ |  | 190.87 | ​
Performance/service based | ​ | ​ | ​ | ​ | ​ | ​
Nonvested at beginning of year |  | .2 | ​ | $ | 147.55 | ​
Granted |  | .1 | ​ |  | 245.73 | ​
Vested |  | (.2) | ​ |  | 145.16 | ​
Performance change |  | .1 | ​ |  | 144.98 | ​
Nonvested at end of year |  | .2 | ​ |  | 171.82 | ​
* Weighted-averages ​

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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- Definition 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. + References No definition available. + Details
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