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Stock Plans (Tables) | 12 Months Ended
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Oct. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Compensation expense and related income tax benefit for share-based awards | The compensation expense and related income 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) | 2023 |  | 2022 |  | 2021
Selling, general and administrative expense | $ | 54.8 |  |  | $ | 46.7 |  |  | $ | 38.4 |
Cost of sales | 4.2 |  |  | 4.5 |  |  | 3.9 |
Research and development expense | 3.1 |  |  | 3.0 |  |  | 2.4 |
Total compensation expense | $ | 62.1 |  |  | $ | 54.2 |  |  | $ | 44.7 |
Related income tax benefit | $ | 5.0 |  |  | $ | 5.0 |  |  | $ | 5.6 |
Assumptions used in estimating fair value of stock options award granted |
Years Ended October 31, | 2023 |  | 2022 |  | 2021
Expected life | 4.5 years |  | 4.1 years |  | 4.0 years
Expected volatility | 29.5 | % |  | 25.8 | % |  | 30.3 | %
Risk-free interest rate | 3.8 | % |  | 1.1 | % |  | 0.3 | %
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, 2022 | 1,063,843 |  |  | $ | 264.85 |  |  |  |  |
Granted | 86,241 |  |  | $ | 329.83 |  |  |  |  |
Exercised | (71,808) |  |  | $ | 155.45 |  |  |  |  |
Forfeited or expired | (720) |  |  | $ | 337.72 |  |  |  |  |
Outstanding at October 31, 2023 | 1,077,556 |  |  | $ | 277.29 |  |  | 5.36 |  | $ | 53,510,367 |
Vested and expected to vest at October 31, 2023 | 1,059,841 |  |  | $ | 276.11 |  |  | 5.32 |  | $ | 53,475,275 |
Vested and exercisable at October 31, 2023 | 729,591 |  |  | $ | 248.34 |  |  | 4.38 |  | $ | 50,797,891 |
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, 2022 | 289,238 |  |  | $ | 340.68 |
Granted | 145,655 |  |  | $ | 335.32 |
Vested and issued | (107,403) |  |  | $ | 320.22 |
Forfeited or expired | (37,461) |  |  | $ | 344.72 |
Non-vested RSUs at October 31, 2023 | 290,029 |  |  | $ | 345.03 |

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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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + 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 -Topic 718 -SubTopic 10 -Subparagraph (f)(2) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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