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Stock-Based Compensation (Tables) | 12 Months Ended
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Oct. 31, 2022
Share-Based Payment Arrangement [Abstract] |
Schedule of compensation costs related to stock-based awards | Compensation costs related to stock-based compensation awards were as follows (in thousands):
Fiscal Years Ended October 31 |  | 2022 |  | 2021 |  | 2020
Stock option awards |  | $ | 9,976 |  |  | $ | 9,971 |  |  | $ | 9,163 |
Performance share awards |  | 5,830 |  |  | 6,861 |  |  | 2,123 |
Restricted stock unit awards |  | 5,681 |  |  | 4,306 |  |  | 3,429 |
Unrestricted common stock awards |  | 629 |  |  | 671 |  |  | 693 |
Total compensation cost for stock-based compensation awards |  | $ | 22,116 |  |  | $ | 21,809 |  |  | $ | 15,408 |
Related tax benefit from stock-based compensation awards |  | $ | 5,339 |  |  | $ | 5,221 |  |  | $ | 3,696 |
Schedule of weighted-average valuation assumptions of stock-based compensation | The table below illustrates the weighted-average valuation assumptions used under the Black-Scholes valuation method for options granted in the following fiscal periods:
Fiscal Years Ended October 31 |  | 2022 |  | 2021 |  | 2020
Expected life of option in years |  | 6.19 |  | 6.21 |  | 6.31
Expected stock price volatility |  | 23.74 | % |  | 23.26 | % |  | 19.53 | %
Risk-free interest rate |  | 1.31 | % |  | 0.55 | % |  | 1.73 | %
Expected dividend yield |  | 0.94 | % |  | 0.86 | % |  | 0.99 | %
Per share weighted-average fair value at date of grant |  | $ | 22.55 |  |  | $ | 19.39 |  |  | $ | 15.23 |
Schedule of stock options activity | The table below presents stock option activity for fiscal 2022:
|  | Stock Option Awards |  | Weighted-Average Exercise Price |  | Weighted-Average Contractual Life (years) |  | Aggregate Intrinsic Value (in thousands)
Outstanding as of October 31, 2021 |  | 2,771,354 |  |  | $ | 64.60 |  |  | 6.3 |  | $ | 85,576 |
Granted |  | 469,175 |  |  | 99.16 |  |  |  |  |
Exercised |  | (228,385) |  |  | 45.46 |  |  |  |  |
Forfeited |  | (26,111) |  |  | 94.28 |  |  |  |  |
Outstanding as of October 31, 2022 |  | 2,986,033 |  |  | $ | 71.23 |  |  | 6.0 |  | $ | 102,118 |
Exercisable as of October 31, 2022 |  | 1,982,962 |  |  | $ | 60.44 |  |  | 4.9 |  | $ | 89,208 |
Schedule of total market value and the intrinsic value of options exercised | The table below presents the total market value of stock options exercised and the total intrinsic value of options exercised during the following fiscal years (in thousands):
Fiscal Years Ended October 31 |  | 2022 |  | 2021 |  | 2020
Market value of stock options exercised |  | $ | 20,140 |  |  | $ | 40,071 |  |  | $ | 56,761 |
Intrinsic value of stock options exercised 1 |  | $ | 9,758 |  |  | $ | 25,952 |  |  | $ | 33,920 |
1 Intrinsic value is calculated as the amount by which the stock price at exercise date exceeded the option exercise price.
Schedule of performance share awards granted | Factors related to the company's performance share awards are as follows (in thousands, except per award data):
Fiscal Years Ended October 31 |  | 2022 |  | 2021 |  | 2020
Weighted-average fair value per award at date of grant |  | $ | 98.41 |  |  | $ | 90.59 |  |  | $ | 77.33 |
Fair value of performance share awards vested |  | $ | 4,828 |  |  | $ | 3,428 |  |  | $ | 6,271 |
Schedule of unvested performance share awards and the weighted average fair value at the date of grant | The table below presents fiscal 2022 activity for unvested performance share awards:
|  | Performance Shares |  | Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2021 |  | 204,244 |  |  | $ | 76.16 |
Granted |  | 48,604 |  |  | 98.41 |
Vested |  | (49,248) |  |  | 59.58 |
Forfeited |  | (8,000) |  |  | 92.38 |
Unvested as of October 31, 2022 |  | 195,600 |  |  | $ | 88.63 |
Schedule of restricted stock and restricted stock unit awards granted | Factors related to the company's restricted stock unit awards are as follows (in thousands, except per award data):
Fiscal Years Ended October 31 |  | 2022 |  | 2021 |  | 2020
Weighted-average fair value per award at date of grant |  | $ | 88.90 |  |  | $ | 97.87 |  |  | $ | 74.55 |
Fair value of restricted stock units vested |  | $ | 5,490 |  |  | $ | 4,464 |  |  | $ | 3,410 |
Schedule of unvested restricted stock shares and the weighted average fair value at the date of grant | The table below presents fiscal 2022 activity for unvested restricted stock units:
|  | Restricted Stock Units |  | Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2021 |  | 124,252 |  |  | $ | 85.54 |
Granted |  | 100,614 |  |  | 88.90 |
Vested |  | (61,015) |  |  | 78.02 |
Forfeited |  | (13,174) |  |  | 90.55 |
Unvested as of October 31, 2022 |  | 150,677 |  |  | $ | 90.39 |

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