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Stock-Based Compensation (Tables) | 12 Months Ended
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Oct. 31, 2023
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 (dollars in millions):
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Stock option awards |  | $ | 8.5 |  |  | $ | 10.0 |  |  | $ | 10.0 |
Performance share awards |  | 2.9 |  |  | 5.8 |  |  | 6.8 |
Restricted stock unit awards |  | 6.9 |  |  | 5.7 |  |  | 4.3 |
Unrestricted common stock awards |  | 1.1 |  |  | 0.6 |  |  | 0.7 |
Total compensation cost for stock-based compensation awards |  | $ | 19.4 |  |  | $ | 22.1 |  |  | $ | 21.8 |
Related tax benefit from stock-based compensation awards |  | $ | 4.7 |  |  | $ | 5.3 |  |  | $ | 5.2 |
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 |  | 2023 |  | 2022 |  | 2021
Expected life of option in years |  | 6.31 |  | 6.19 |  | 6.21
Expected stock price volatility |  | 25.20 | % |  | 23.74 | % |  | 23.26 | %
Risk-free interest rate |  | 3.79 | % |  | 1.31 | % |  | 0.55 | %
Expected dividend yield |  | 0.95 | % |  | 0.94 | % |  | 0.86 | %
Per share weighted-average fair value at date of grant |  | $ | 33.21 |  |  | $ | 22.55 |  |  | $ | 19.39 |
Schedule of Stock Options Activity | The table below presents stock option activity for fiscal 2023:
|  | Stock Option Awards |  | Weighted-Average Exercise Price |  | Weighted-Average Contractual Life (years) |  | Aggregate Intrinsic Value (dollars in millions)
Outstanding as of October 31, 2022 |  | 2,986,033 |  |  | $ | 71.23 |  |  | 6.0 |  | $ | 102.1 |
Granted |  | 475,620 |  |  | 110.87 |  |  |  |  |
Exercised |  | (389,923) |  |  | 52.76 |  |  |  |  |
Forfeited |  | (98,300) |  |  | 107.67 |  |  |  |  |
Outstanding as of October 31, 2023 |  | 2,973,430 |  |  | $ | 78.80 |  |  | 5.4 |  | $ | 32.0 |
Exercisable as of October 31, 2023 |  | 2,078,025 |  |  | $ | 68.37 |  |  | 4.4 |  | $ | 32.0 |
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 (dollars in millions):
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Market value of stock options exercised |  | $ | 43.4 |  |  | $ | 20.1 |  |  | $ | 40.1 |
Intrinsic value of stock options exercised 1 |  | $ | 22.8 |  |  | $ | 9.8 |  |  | $ | 26.0 |
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 (dollars in millions, except per award data):
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Weighted-average fair value per award at date of grant |  | $ | 112.14 |  |  | $ | 98.41 |  |  | $ | 90.59 |
Fair value of performance share awards vested |  | $ | 5.3 |  |  | $ | 4.8 |  |  | $ | 3.4 |
Schedule of Unvested Performance Share Awards and the Weighted Average Fair Value at the Date of Grant | The table below presents fiscal 2023 activity for unvested performance share awards:
|  | Performance Shares |  | Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2022 |  | 195,600 |  |  | $ | 88.63 |
Granted |  | 66,131 |  |  | 112.14 |
Vested |  | (46,831) |  |  | 77.33 |
Forfeited |  | (28,140) |  |  | 106.16 |
Unvested as of October 31, 2023 |  | 186,760 |  |  | $ | 100.57 |
Schedule of Restricted Stock and Restricted Stock Unit Awards Granted | Factors related to the company's restricted stock unit awards are as follows (dollars in millions, except per award data):
Fiscal Years Ended October 31 |  | 2023 |  | 2022 |  | 2021
Weighted-average fair value per award at date of grant |  | $ | 103.40 |  |  | $ | 88.90 |  |  | $ | 97.87 |
Fair value of restricted stock units vested |  | $ | 6.2 |  |  | $ | 5.5 |  |  | $ | 4.5 |
Schedule of Unvested Restricted Stock Shares and the Weighted Average Fair Value at the Date of Grant | The table below presents fiscal 2023 activity for unvested restricted stock units:
|  | Restricted Stock Units |  | Weighted-Average Fair Value at Date of Grant
Unvested as of October 31, 2022 |  | 150,677 |  |  | $ | 90.39 |
Granted |  | 99,081 |  |  | 103.40 |
Vested |  | (57,727) |  |  | 89.16 |
Forfeited |  | (12,205) |  |  | 93.26 |
Unvested as of October 31, 2023 |  | 179,826 |  |  | $ | 97.66 |

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