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Stock Plans (Tables) | 12 Months Ended
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Oct. 31, 2021
Share-based Payment Arrangement [Abstract] |
Compensation expense and related income tax benefit for share-based awards | Compensation expense and the related tax benefit recognized in our Consolidated Statements of Income for share-based awards, including the Employee Stock Purchase Plan, were as follows:
October 31, |  |  |
(In millions) | 2021 |  | 2020 |  | 2019
Selling, general and administrative expense | $ | 38.4 |  |  | $ | 32.2 |  |  | $ | 28.7 |
Cost of sales | 3.9 |  |  | 4.0 |  |  | 4.7 |
Research and development expense | 2.4 |  |  | 2.4 |  |  | 2.9 |
Total compensation expense | $ | 44.7 |  |  | $ | 38.6 |  |  | $ | 36.3 |
Related income tax benefit | $ | 5.6 |  |  | $ | 4.8 |  |  | $ | 5.1 |
Assumptions used in estimating fair value of stock options award granted |
Years Ended October 31, | 2021 |  | 2020 |  | 2019
Expected life | 4.0 years |  | 4.4 years |  | 4.4 years
Expected volatility | 30.3 | % |  | 24.5 | % |  | 22.0 | %
Risk-free interest rate | 0.3 | % |  | 1.6 | % |  | 2.9 | %
Dividend yield | 0.02 | % |  | 0.02 | % |  | 0.02 | %
Schedule of stock option plans | The activity and status of our stock option plans are summarized below:
| Number of Shares |  | Weighted- Average Exercise Price Per Share |  | Weighted- Average Remaining Contractual Term (in years) |  | Aggregate Intrinsic Value
Outstanding at October 31, 2020 | 1,103,507 |  |  | $ | 213.53 |  |  |  |  |
Granted | 109,440 |  |  | $ | 345.74 |  |  |  |  |
Exercised | (235,478) |  |  | $ | 142.31 |  |  |  |  |
Forfeited or expired | (4,777) |  |  | $ | 327.62 |  |  |  |  |
Outstanding at October 31, 2021 | 972,692 |  |  | $ | 245.09 |  |  | 6.22 |  |
Vested and expected to vest at October 31, 2021 | 939,788 |  |  | $ | 243.15 |  |  | 6.16 |  | $ | 163,310,445 |
Vested and exercisable at October 31, 2021 | 470,748 |  |  | $ | 207.13 |  |  | 4.99 |  | $ | 98,757,454 |
Schedule of non-vested RSUs | The status of our non-vested RSUs is summarized below:
| Number of Shares |  | Weighted- Average Grant Date Fair Value Per Share
Non-vested RSUs at October 31, 2020 | 368,620 |  |  | $ | 247.09 |
Granted | 114,111 |  |  | $ | 352.92 |
Vested and issued | (137,119) |  |  | $ | 222.42 |
Forfeited or expired | (28,277) |  |  | $ | 269.62 |
Non-vested RSUs at October 31, 2021 | 317,335 |  |  | $ | 293.80 |

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- Definition Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement. + 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 (h)(1) -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 S99 -Paragraph 1 -Subparagraph (SAB Topic 14.F) -URI http://asc.fasb.org/extlink&oid=122041274&loc=d3e301413-122809 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 + Details
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- Definition Tabular disclosure of the changes in outstanding nonvested restricted stock units. + 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 (c)(2) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5070-113901 + Details
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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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