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Stock-Based Compensation (Tables) | 12 Months Ended
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Oct. 31, 2021
Share-based Payment Arrangement [Abstract] |
Summarized Activity Related to Stock Options | The following table summarizes activity related to stock options during 2021:
| Number of Options |  | Weighted˗Average Exercise Price Per Share |  | Aggregate Intrinsic Value |  | Weighted˗Average Remaining Term
Outstanding at October 31, 2020 | 1,487 |  |  | $ | 122.45 |  |  |  |  |
Granted | 93 |  |  | $ | 201.43 |  |  |  |  |
Exercised | (298) |  |  | $ | 107.14 |  |  |  |  |
Forfeited or expired | (47) |  |  | $ | 152.52 |  |  |  |  |
Outstanding at October 31, 2021 | 1,235 |  |  | $ | 130.93 |  |  | $ | 152,304 |  |  | 6.1 years
Expected to vest | 561 |  |  | $ | 155.55 |  |  | $ | 55,335 |  |  | 7.3 years
Exercisable at October 31, 2021 | 671 |  |  | $ | 110.21 |  |  | $ | 96,638 |  |  | 5.0 years
Summarized Information on Currently Outstanding Options | Summarized information on currently outstanding options follows:
| Range of Exercise Price
| $43 - $90 |  | $91 - $140 |  | $141 - $201
Number outstanding | 204 |  |  | 626 |  |  | 405 |
Weighted-average remaining contractual life, in years | 3.1 |  | 6.3 |  | 8.3
Weighted-average exercise price | $ | 71.82 |  |  | $ | 122.31 |  |  | $ | 174.09 |
Number exercisable | 204 |  |  | 399 |  |  | 68 |
Weighted-average exercise price | $ | 71.82 |  |  | $ | 120.24 |  |  | $ | 167.15 |
Fair Value Assumptions of Stock Options | The fair value of each option grant was estimated at the date of the grant using the Black-Scholes option-pricing model with the following assumptions:
| 2021 |  | 2020 |  | 2019
Expected volatility | 30.8%-32.6% |  | 24.5%-30.5% |  | 24.1%-24.5%
Expected dividend yield | 0.83%-0.85% |  | 0.87%-1.16% |  | 1.04%
Risk-free interest rate | 0.43%-0.77% |  | 0.44%-1.69% |  | 2.84%-2.95%
Expected life of the option (in years) | 5.3-6.2 |  | 5.3-6.3 |  | 5.3-6.2
Summarized Activity Related to Restricted Stock | The following table summarizes activity related to restricted shares during 2021:
| Number of Shares |  | Weighted˗Average Grant Date Fair Value Per Share
Restricted at October 31, 2020 | 58 |  |  | $ | 148.75 |
Granted | — |  |  | $ | — |
Forfeited | (6) |  |  | $ | 162.94 |
Vested | (33) |  |  | $ | 141.32 |
Restricted at October 31, 2021 | 19 |  |  | $ | 157.36 |
Summarized Activity Related to Restricted Stock Units | The following table summarizes activity related to restricted share units in 2021:
| Number of Units |  | Weighted˗Average Grant Date Fair Value
Restricted share units at October 31, 2020 | — |  |  | $ | — |
Granted | 87 |  |  | $ | 202.41 |
Forfeited | (14) |  |  | $ | 202.06 |
Vested | (6) |  |  | $ | 198.58 |
Restricted share units at October 31, 2021 | 67 |  |  | $ | 202.81 |
Summarized Activity Related to Director Deferred Compensation Shares | The following table summarizes activity related to director deferred compensation share equivalent units during 2021:
| Number of Shares |  | Weighted˗Average Grant Date Fair Value Per Share
Outstanding at October 31, 2020 | 120 |  |  | $ | 60.81 |
Restricted stock units vested | 4 |  |  | $ | 199.36 |
Dividend equivalents | 1 |  |  | $ | 215.03 |
Distributions | (19) |  |  | $ | 58.86 |
Outstanding at October 31, 2021 | 106 |  |  | $ | 68.11 |

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