Stock Based Compensation Plans
 6 Months Ended
Apr. 30, 2017
Stock Based Compensation Plans Disclosure [Abstract]  
Stock-Based Compensation Plans

12.       Stock-Based Compensation Plans

 

The Company recognized compensation cost related to its stock-based compensation plans for the three and six months ended April 30, 2017 and 2016 as follows:

    Three Months Ended  Six Months Ended
    April 30,  April 30,
 (in thousands)  2017 2016  2017 2016
 Omnibus Incentive Plans:          
  Stock options $ 4,818$ 4,590 $ 10,520$ 9,729
  Restricted shares   11,549  11,013   23,623  21,951
  Phantom stock units   105  97   226  124
 Employee Stock Purchase Plans   -  -   176  211
 Employee Stock Purchase Incentive Plan   496  328   549  360
 Atlanta Capital Plan   855  652   1,710  1,417
 Parametric Plan   940  1,790   1,880  2,939
 Parametric Phantom Incentive Plan   378  -   756  -
 Total stock-based compensation expense $ 19,141$ 18,470 $ 39,440$ 36,731

The total income tax benefit recognized for stock-based compensation arrangements was $7.0 million and $6.3 million for the three months ended April 30, 2017 and 2016, respectively, and $14.3 million and $12.3 million for the six months ended April 30, 2017 and 2016, respectively.

 

Stock options

Stock option transactions under the Company's 2013 Omnibus Incentive Plan (the 2013 Plan) and predecessor plans for the six months ended April 30, 2017 were as follows:

 (share and intrinsic value figures in thousands)Shares Weighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value
 Options outstanding, beginning of period 20,311 $ 33.52   
 Granted 2,886   34.97   
 Exercised (1,566)   26.74   
 Forfeited/expired (9)   38.65   
 Options outstanding, end of period 21,622 $ 34.20 5.5$ 200,553
 Options exercisable, end of period 12,286 $ 32.84 3.5$ 135,772
 Vested or expected to vest at April 30, 2017 21,561 $ 34.20 5.5$ 200,115

The Company received $41.1 million and $21.5 million related to the exercise of options for the six months ended April 30, 2017 and 2016, respectively.

 

As of April 30, 2017, there was $55.5 million of compensation cost related to unvested stock options granted under the 2013 Plan and predecessor plans not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.1 years.

Restricted shares

A summary of the Company's restricted share activity for the six months ended April 30, 2017 under the 2013 Plan and predecessor plans is as follows:

   Weighted-
   Average
   Grant Date
 (share figures in thousands)SharesFair Value
 Unvested, beginning of period 4,157$ 35.43
 Granted 1,685  35.93
 Vested (1,148)  33.00
 Forfeited (36)  35.84
 Unvested, end of period 4,658$ 36.21

As of April 30, 2017, there was $127.6 million of compensation cost related to unvested restricted shares granted under the 2013 Plan and predecessor plans not yet recognized. That cost is expected to be recognized over a weighted-average period of 3.2 years.

Phantom stock units

During the six months ended April 30, 2017, 10,285 phantom stock units were issued to non-employee Directors pursuant to the 2013 Plan. As of April 30, 2017, there was $0.4 million of compensation cost related to unvested phantom stock units granted under the 2013 Plan not yet recognized. That cost is expected to be recognized over a weighted-average period of 1.3 years.