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STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS (Tables) | 12 Months Ended
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Oct. 30, 2022
STOCK OPTION AND RESTRICTED STOCK UNIT AWARDS |
Share-based Compensation Expense, Recognized Tax Benefits, and Total Grant-date Fair Value | The total share-based compensation expense, recognized income tax benefits, and total grant-date fair values of stock options and restricted stock units vested consisted of the following in millions of dollars: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​
Share-based compensation expense | ​ | $ | 85 | ​ | $ | 82 | ​ | $ | 81 | ​
Income tax benefits | ​ | ​ | 17 | ​ | ​ | 16 | ​ | ​ | 19 | ​
Stock options and restricted stock units vested | ​ | ​ | 74 | ​ | ​ | 93 | ​ | ​ | 79 | ​
​
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 2022 |  | 2021 |  | 2020 |
Risk-free interest rate* |  | 1.27% |  | .47% |  | 1.67% | ​
Expected dividends | ​ | 1.2% | ​ | 1.2% | ​ | 1.8% | ​
Volatility* | ​ | 32.0% | ​ | 31.0% | ​ | 26.0% | ​
Expected term (in years)* |  | 5.1 |  | 5.5 |  | 5.7 | ​
* Weighted-averages ​
Stock Option Activity | The activity for outstanding stock options at October 30, 2022, and changes during 2022 in millions of dollars and shares follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | Remaining | ​ | ​ | ​ |
​ | ​ | ​ | ​ | ​ | ​ | ​ | Contractual | ​ | Aggregate |
​ | ​ | ​ | ​ | Exercise | ​ | Term | ​ | Intrinsic |
​ | ​ | Shares |  | Price* |  | (Years) |  | Value |
Outstanding at beginning of year |  | 2.5 | ​ | $ | 127.82 | ​ | ​ | ​ | ​ | ​ | ​
Granted |  | .2 | ​ |  | 343.94 | ​ | ​ | ​ | ​ | ​ | ​
Exercised |  | (.6) | ​ |  | 105.85 | ​ | ​ | ​ | ​ | ​ | ​
Forfeited |  | (.1) | ​ |  | 290.65 | ​ | ​ | ​ | ​ | ​ | ​
Outstanding at end of year |  | 2.0 | ​ |  | 153.11 |  | 4.81 |  | $ | 497.2 | ​
Exercisable at end of year |  | 1.6 | ​ |  | 119.16 |  | 3.79 | ​ |  | 436.9 | ​
* Weighted-averages ​
Amounts Related to Stock Options | The amounts related to stock options were as follows in millions of dollars unless otherwise noted: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​
Weighted-average grant date fair values (per share) | ​ | $ | 89.20 | ​ | $ | 62.73 | ​ | $ | 35.83 | ​
Intrinsic value of options exercised | ​ | $ | 169 | ​ | $ | 318 | ​ | $ | 398 | ​
Cash received from exercises | ​ | ​ | 63 | ​ | ​ | 148 | ​ | ​ | 331 | ​
Tax benefit from exercises | ​ | ​ | 39 | ​ | ​ | 71 | ​ | ​ | 93 | ​
​
Weighted-average Grant Date Fair Values | The weighted-average grant date fair values were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​
Service-based | ​ | $ | 347.59 | ​ | $ | 258.86 | ​ | $ | 168.94 | ​
Performance/service-based | ​ | ​ | 331.47 | ​ | ​ | 245.73 | ​ | ​ | 160.81 | ​
​
Restricted Stock Units Activity | The company’s restricted stock units at October 30, 2022 and changes during 2022 in thousands of shares follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | Grant-Date |
​ | ​ | Shares | ​ | Fair Value* |
Service-based | ​ | ​ | ​ | ​ | ​ | ​
Nonvested at beginning of year |  | 486 | ​ | $ | 190.87 | ​
Granted |  | 139 | ​ |  | 347.59 | ​
Vested |  | (208) | ​ |  | 173.62 | ​
Forfeited | ​ | (13) | ​ | ​ | 259.72 | ​
Nonvested at end of year |  | 404 | ​ |  | 251.42 | ​
Performance/service based | ​ | ​ | ​ | ​ | ​ | ​
Nonvested at beginning of year |  | 197 | ​ | $ | 171.82 | ​
Granted |  | 37 | ​ |  | 331.47 | ​
Vested |  | (168) | ​ |  | 139.37 | ​
Performance change |  | 84 | ​ |  | 139.37 | ​
Forfeited |  | (7) | ​ |  | 267.13 | ​
Nonvested at end of year |  | 143 | ​ |  | 227.70 | ​
* Weighted-averages

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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 https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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