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Stock-Based Benefit Plans | 9 Months Ended
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Jul. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Stock-Based Benefit Plans We grant stock options, restricted stock, and various types of restricted stock units to our employees and our non-employee directors. Additionally, we have an employee stock purchase plan that allows employees to purchase our stock at a discount. Beginning in fiscal 2012, we changed the mix of stock-based compensation to our employees (other than certain senior executives) by reducing the number of stock options we grant and, in their place, issued non-performance based restricted stock units (“RSUs”) as a form of compensation. We also replaced our stock price-based restricted stock unit (“Stock Price-Based RSUs”) awards for certain senior executives with a performance-based restricted stock (“Performance-Based RSUs”) award program. Information regarding the amount of total stock-based compensation expense and tax benefit recognized by us, for the periods indicated, is as follows (amounts in thousands):
| Nine months ended July 31, |  | Three months ended July 31,
| 2014 |  | 2013 |  | 2014 |  | 2013
Total stock-based compensation expense recognized | $ | 16,985 |  |  | $ | 14,449 |  |  | $ | 4,691 |  |  | $ | 4,422 |
Income tax benefit recognized | $ | 6,388 |  |  | $ | 5,283 |  |  | $ | 1,769 |  |  | $ | 1,617 |
At July 31, 2014 and October 31, 2013, the aggregate unamortized value of outstanding stock-based compensation awards was approximately $28.6 million and $19.9 million, respectively. Information about our more significant stock-based compensation programs is outlined below. Stock Options The fair value of each option award is estimated on the date of grant using a lattice-based option valuation model that uses assumptions noted in the following table. The lattice-based option valuation model incorporates ranges of assumptions for inputs, which are disclosed in the table below. Expected volatilities were based on implied volatilities from traded options on our stock, historical volatility of our stock, and other factors. The expected lives of options granted were derived from the historical exercise patterns and anticipated future patterns and represent the period of time that options granted are expected to be outstanding; the range given below results from certain groups of employees exhibiting different behaviors. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of grant. The weighted-average assumptions and the fair value used for stock option grants in fiscal 2014 and 2013 were as follows:
| 2014 |  | 2013
Expected volatility | 36.44% - 44.71% |  | 44.04% - 48.13%
Weighted-average volatility | 42.71% |  | 46.70%
Risk-free interest rate | 1.45% - 2.71% |  | 0.64% - 1.56%
Expected life (years) | 4.55 - 9.02 |  | 4.48 - 8.88
Dividends | none |  | none
Weighted-average grant date fair value per share of options granted | $14.26 |  | $13.05
Stock compensation expense, related to stock options, for the periods indicated, was as follows (amounts in thousands):
| 2014 |  | 2013
Nine months ended July 31, | $ | 7,335 |  |  | $ | 6,276 |
Three months ended July 31, | $ | 1,675 |  |  | $ | 1,442 |
Performance-Based Restricted Stock Units The Executive Compensation Committee of our Board of Directors (“Executive Compensation Committee”) approved awards of Performance-Based RSUs relating to shares of our common stock to certain members of our senior management. The Performance-Based RSUs are based on the attainment of certain performance metrics of our Company in the fiscal year of grant if the performance targets are met. The number of shares underlying the Performance-Based RSUs that will be issued to the recipients may range from 90% to 110% of the base award depending on our actual performance as compared to the target performance goals. The Performance-Based RSUs vest over a four-year period provided the recipients continue to be employed by us or serve on our board of directors (as applicable) as specified in the award document. The value of the Performance-Based RSUs was determined to be equal to the estimated number of shares of our common stock to be issued multiplied by the closing price of our common stock on the New York Stock Exchange (“NYSE”) on the later of the date the performance goals were approved by the Executive Compensation Committee, or on the date the Performance-Based RSUs were granted (“Valuation Date”). We evaluate the performance goals quarterly and estimate the number of shares underlying the Performance-Based RSUs that are probable of being issued. Information regarding the issuance, valuation assumptions and amortization of the Performance-Based RSUs issued in the nine-month periods ended July 31, 2014 and 2013 is provided below.
| 2014 |  | 2013
Number of shares underlying Performance-Based RSUs to be issued | 287,817 |  |  | 302,511 |
Closing price of our common stock on Valuation Date | $ | 35.16 |  |  | $ | 37.78 |
Aggregate fair value of Performance-Based RSUs issued (in thousands) | $ | 10,120 |  |  | $ | 11,429 |
Performance-Based RSU expense recognized in the nine months ended July 31, (in thousands) | $ | 6,886 |  |  | $ | 4,662 |
Performance-Based RSU expense recognized in the three months ended July 31, (in thousands) | $ | 2,433 |  |  | $ | 2,074 |
Note: The fiscal 2014 number of shares underlying Performance-Based RSUs to be issued and their aggregate fair value is estimated. Information regarding the aggregate number of outstanding Performance-Based RSUs and the aggregate unamortized value of the outstanding Performance-Based RSUs, as of the date indicated, is provided below.
| July 31, 2014 |  | October 31, 2013
Aggregate outstanding Performance-Based RSUs | 960,505 |  |  | 672,687 |
Cumulative unamortized value of Performance-Based RSUs (in thousands) | $ | 11,353 |  |  | $ | 8,120 |
Stock Price-Based Restricted Stock Units Information regarding the amortization of our Stock Price-Based RSUs, for the periods indicated, is provided below (amounts in thousands):
| 2014 |  | 2013
Nine months ended July 31, | $ | 231 |  |  | $ | 1,395 |
Three months ended July 31, | $ | — |  |  | $ | 416 |
Information regarding the aggregate number of outstanding Stock Price-Based RSUs and aggregate unamortized value of the outstanding Stock Price-Based RSUs, as of the date indicated, is provided below:
| July 31, 2014 |  | October 31, 2013
Aggregate outstanding Stock Price-Based RSUs | — |  |  | 306,000 |
Cumulative unamortized value of Stock Price-Based RSUs (in thousands) | $ | — |  |  | $ | 231 |
In December 2013 and 2012, we distributed 306,000 and 200,000 shares, respectively, of stock pursuant to a Stock Price-Based RSU award. Non-Performance Based Restricted Stock Units We issued RSUs to various officers, employees and non-employee directors. The value of the RSUs was determined to be equal to the number of shares of our common stock to be issued pursuant to the RSUs, multiplied by the closing price of our common stock on the NYSE on the date the RSUs were awarded. Information regarding these RSUs issued in the nine months ended July 31, 2014 and 2013 is as follows:
| 2014 |  | 2013
Number of RSUs issued | 99,336 |  |  | 94,080 |
Closing price of our common stock on date of issuance | $ | 35.16 |  |  | $ | 32.22 |
Aggregate fair value of RSUs issued (in thousands) | $ | 3,493 |  |  | $ | 3,031 |
Information regarding the amortization of the RSUs, for the periods indicated, is as follows (amounts in thousands):
| 2014 |  | 2013
Nine months ended July 31, | $ | 2,459 |  |  | $ | 2,048 |
Three months ended July 31, | $ | 557 |  |  | $ | 464 |
Information regarding the aggregate number of outstanding RSUs and aggregate unamortized value of the outstanding RSUs, as of the date indicated, is as follows:
| July 31, 2014 |  | October 31, 2013
Aggregate outstanding RSUs | 305,186 |  |  | 225,252 |
Cumulative unamortized value of RSUs (in thousands) | $ | 2,620 |  |  | $ | 1,706 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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