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Stock-based compensation (Tables) | 3 Months Ended
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Jan. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Summarized Activity Related to Stock Options | The following table summarizes activity related to stock options for the three months ended January 31, 2024:
|  | Number of Options |  | Weighted- Average Exercise Price Per Share |  | Aggregate Intrinsic Value |  | Weighted Average Remaining Term
Outstanding at October 31, 2023 |  | 1,062 |  | $ | 152.41 |  |  |  |  |
Granted |  | 55 |  | 238.80 |  |  |  |  |
Exercised |  | (116) |  | 128.09 |  |  |  |  |
Forfeited or expired |  | (6) |  | 228.20 |  |  |  |  |
Outstanding at January 31, 2024 |  | 995 |  | $ | 159.51 |  |  | $ | 92,894 |  |  | 5.1 years
Expected to vest |  | 164 |  | $ | 237.41 |  |  | $ | 2,927 |  |  | 8.4 years
Exercisable at January 31, 2024 |  | 828 |  | $ | 143.80 |  |  | $ | 89,927 |  |  | 4.4 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 | January 31, 2024 |  | January 31, 2023
Expected volatility | 30.5% | - | 31.7% |  | 30.4% | - | 31.8%
Expected dividend yield | 1.15% | - | 1.15% |  | 1.12% | - | 1.12%
Risk-free interest rate | 4.22% | - | 4.26% |  | 3.79% | - | 3.82%
Expected life of the option (in years) | 5.0 | - | 6.2 |  | 5.0 | - | 6.1
Summarized Activity Related to Restricted Stock Units | The following table summarizes activity related to restricted share units during the three months ended January 31, 2024:
|  | Number of Units |  | Weighted-Average Grant Date Fair Value
Restricted share units at October 31, 2023 |  | 69 |  |  | $ | 236.28 |
Granted |  | 36 |  |  | 233.74
Forfeited |  | (2) |  |  | 240.72
Vested |  | (28) |  |  | 233.59
Restricted share units at January 31, 2024 |  | 75 |  |  | $ | 235.89 |
Summarized Activity Related to Director Deferred Compensation Shares | The following table summarizes activity related to director deferred compensation share equivalent units during the three months ended January 31, 2024:
|  | Number of Shares |  | Weighted-Average Grant Date Fair Value
Outstanding at October 31, 2023 |  | 78 |  |  | $ | 93.11 |
Distributions |  | (5) |  |  | 53.35
Outstanding at January 31, 2024 |  | 73 |  |  | $ | 96.11 |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2 + Details
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