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Stock-Based Compensation (Tables)

12 Months Ended

Oct. 31, 2020

Share-based Payment Arrangement [Abstract]

Summarized Activity Related to Stock Options

The following table summarizes activity related to stock options during 2020:

			Number of Options						Weighted˗Average Exercise Price Per Share						Aggregate Intrinsic Value						Weighted˗Average Remaining Term
Outstanding at October 31, 2019			1,787						$	97.74
Granted			391						$	166.38
Exercised			(644)						$	78.91
Forfeited or expired			(47)						$	145.52
Outstanding at October 31, 2020			1,487						$	122.45					$	105,536					7.0 years
Expected to vest			845						$	141.28					$	44,065					8.1 years
Exercisable at October 31, 2020			632						$	96.79					$	61,104					5.5 years

Summarized Information on Currently Outstanding Options

Summarized information on currently outstanding options follows:

			Range of Exercise Price
			$43 - $90						$91 - $140						$141 - $190
Number outstanding			279						844						364
Weighted-average remaining contractual life, in years			4.0						7.1						9.1
Weighted-average exercise price			$	70.40					$	120.56					$	166.66
Number exercisable			279						352						1
Weighted-average exercise price			$	70.40					$	117.43					$	165.21

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:

			2020						2019						2018
Expected volatility			24.5%-30.5%						24.1%-24.5%						24.0%-26.7%
Expected dividend yield			0.87%-1.16%						1.04%						0.97%
Risk-free interest rate			0.44%-1.69%						2.84%-2.95%						2.09%-2.20%
Expected life of the option (in years)			5.3-6.3						5.3-6.2						5.4-6.2

Summarized Activity Related to Restricted Stock

The following table summarizes activity related to restricted shares during 2020:

			Number of Shares						Weighted˗Average Grant Date Fair Value Per Share
Restricted at October 31, 2019			66						$	126.83
Granted			27						$	170.94
Forfeited			(7)						$	135.43
Vested			(28)						$	121.01
Restricted at October 31, 2020			58						$	148.75

Summarized Activity Related to Restricted Stock Units

The following table summarizes activity related to restricted share units in 2020:

			Number of Units						Weighted˗Average Grant Date Fair Value
Restricted share units at October 31, 2019			—						$	—
Granted			7						$	160.68
Vested			(7)						$	160.68
Restricted share units at October 31, 2020			—						$	—

Summarized Activity Related to Director Deferred Compensation Shares

The following table summarizes activity related to director deferred compensation share equivalent units during 2020:

			Number of Shares						Weighted˗Average Grant Date Fair Value Per Share
Outstanding at October 31, 2019			114						$	55.52
Restricted stock units vested			5						$	161.09
Dividend equivalents			1						$	169.43
Outstanding at October 31, 2020			120						$	60.81

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