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Stock-Based Compensation (Tables)
6 Months Ended
Apr. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Summarized Activity Related to Stock Options

The following table summarizes activity related to stock options for the six months ended April 30, 2016:

 

 

 

Number of

Options

 

 

Weighted-Average

Exercise Price Per

Share

 

 

Aggregate

Intrinsic Value

 

 

Weighted

Average

Remaining

Term

Outstanding at October 31, 2015

 

 

1,759

 

 

$

50.74

 

 

 

 

 

 

 

Granted

 

 

490

 

 

$

70.91

 

 

 

 

 

 

 

Exercised

 

 

(84

)

 

$

34.40

 

 

 

 

 

 

 

Forfeited or expired

 

 

(32

)

 

$

68.99

 

 

 

 

 

 

 

Outstanding at April 30, 2016

 

 

2,133

 

 

$

55.75

 

 

$

45,595

 

 

6.5 years

Vested or expected to vest at April 30, 2016

 

 

2,103

 

 

$

55.51

 

 

$

45,453

 

 

6.5 years

Exercisable at April 30, 2016

 

 

1,245

 

 

$

43.80

 

 

$

41,202

 

 

4.9 years

 

Fair Value Assumptions of Stock Options

The fair value of each option grant was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions:

 

Three months ended

 

April 30, 2016

 

 

April 30, 2015

 

Expected volatility

 

29.1%-30.4%

 

 

31.6%-39.5%

 

Expected dividend yield

 

 

1.54%

 

 

 

1.10%

 

Risk-free interest rate

 

1.78%-1.90%

 

 

1.70%-1.85%

 

Expected life of the option (in years)

 

5.4-6.2

 

 

5.4-6.1

 

 

Summarized Activity Related to Restricted Stock

The following table summarizes activity related to restricted shares during the six months ended April 30, 2016:

 

 

 

Number of Shares

 

 

Weighted-Average

Grant Date Fair

Value

 

Restricted shares at October 31, 2015

 

 

53

 

 

$

73.23

 

Granted

 

 

30

 

 

$

70.80

 

Vested

 

 

(23

)

 

$

69.17

 

Restricted shares at April 30, 2016

 

 

60

 

 

$

73.56

 

 

Summarized Activity Related to Restricted Stock Units

The following table summarizes activity related to restricted share units during the six months ended April 30, 2016:

 

 

 

Number of Units

 

 

Weighted-Average

Grant Date Fair

Value

 

Restricted share units at October 31, 2015

 

 

0

 

 

$

 

Granted

 

 

13

 

 

$

72.01

 

Restricted share units at April 30, 2016

 

 

13

 

 

$

72.01

 

 

Summarized Activity Related to Director Deferred Compensation Shares

The following table summarizes activity related to director deferred compensation share equivalent units during the six months ended April 30, 2016:

 

 

 

Number of Shares

 

 

Weighted-Average

Grant Date Fair

Value

 

Outstanding at October 31, 2015

 

 

100

 

 

$

36.76

 

Deferrals

 

 

1

 

 

$

67.61

 

Dividend equivalents

 

 

1

 

 

$

67.53

 

Distributions

 

 

(6

)

 

$

26.16

 

Outstanding at April 30, 2016

 

 

96

 

 

$

37.73