|
STOCK-BASED COMPENSATION PLANS (Tables)
|
12 Months Ended |
|
Oct. 31, 2012
|
| STOCK-BASED COMPENSATION PLANS |
|
| Schedule of compensation costs related to stock-based awards |
The compensation costs related to stock-based awards were as follows:
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Fiscal years ended October 31 |
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
|
Stock option awards |
|
$ |
4,200 |
|
$ |
4,654 |
|
$ |
4,117 |
|
|
Restricted stock awards |
|
|
1,721 |
|
|
699 |
|
|
68 |
|
|
Performance share awards |
|
|
3,582 |
|
|
3,180 |
|
|
2,257 |
|
| |
|
|
Total compensation cost for stock-based awards |
|
$ |
9,503 |
|
$ |
8,533 |
|
$ |
6,442 |
|
| |
|
|
Tax benefit realized for tax deductions from stock-based awards |
|
$ |
13,266 |
|
$ |
4,469 |
|
$ |
4,933 |
|
| |
|
|
| Schedule of stock options activity |
The table below presents stock option activity for fiscal 2012:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Stock
Option
Awards |
|
|
Weighted
Average
Exercise
Price |
|
|
Weighted
Average
Contractual
Life(years) |
|
|
Intrinsic
Value |
|
| |
|
|
Outstanding as of October 31, 2011 |
|
|
3,763,384 |
|
$ |
20.92 |
|
|
5.6 |
|
$ |
25,117 |
|
|
Granted |
|
|
493,088 |
|
|
28.14 |
|
|
|
|
|
|
|
|
Exercised |
|
|
(1,032,742 |
) |
|
19.21 |
|
|
|
|
|
|
|
|
Cancelled |
|
|
(23,914 |
) |
|
26.37 |
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding as of October 31, 2012 |
|
|
3,199,816 |
|
$ |
22.54 |
|
|
6.0 |
|
$ |
62,982 |
|
| |
|
|
Exercisable as of October 31, 2012 |
|
|
2,177,910 |
|
$ |
20.38 |
|
|
5.0 |
|
$ |
47,561 |
|
| |
|
|
| Schedule of total market value and the intrinsic value of options exercised |
The following table presents the total market value of stock options exercised and the total intrinsic value of options exercised during the following fiscal years:
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Fiscal years ended October 31 |
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
|
Market value of stock options exercised |
|
$ |
35,901 |
|
$ |
25,592 |
|
$ |
24,588 |
|
|
Intrinsic value of options exercised |
|
|
16,061 |
|
|
11,434 |
|
|
8,198 |
|
| |
|
|
| Schedule of valuation assumptions of stock-based compensation |
The following table illustrates the valuation assumptions of stock-based compensation for the following fiscal years:
|
|
|
|
|
|
|
| |
|
Fiscal years ended October 31 |
|
2012 |
|
2011 |
|
2010 |
| |
|
Expected life of option in years |
|
6 |
|
6 |
|
6 |
|
Expected volatility |
|
34.87% – 35.02% |
|
33.34% – 33.43% |
|
33.00% – 33.10% |
|
Weighted-average volatility |
|
35.01% |
|
33.42% |
|
33.00% |
|
Risk-free interest rate |
|
1.20% |
|
1.72% – 2.36% |
|
2.51% – 2.87% |
|
Expected dividend yield |
|
1.31% – 1.40% |
|
1.04% – 1.16% |
|
1.52% – 1.68% |
|
Weighted-average dividend yield |
|
1.32% |
|
1.05% |
|
1.54% |
| |
|
Weighted-average fair value at date of grant |
|
$8.56 |
|
$10.15 |
|
$6.16 |
|
| Schedule of restricted stock shares granted |
The company granted restricted stock awards during the following fiscal years as follows:
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Fiscal years ended October 31 |
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
|
Weighted-average fair value at date of grant |
|
$ |
33.61 |
|
$ |
27.17 |
|
$ |
28.25 |
|
|
Fair value of restricted stock awards vested |
|
|
967 |
|
|
37 |
|
|
– |
|
| |
|
|
| Schedule of unvested restricted stock shares and the weighted average fair value at the date of grant |
The table below summarizes the activity during fiscal 2012 for unvested restricted share awards:
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Restricted
Stock |
|
|
Weighted-
Average Fair
Value at Date
of Grant |
|
| |
|
|
Unvested as of October 31, 2011 |
|
|
107,438 |
|
$ |
26.52 |
|
|
Granted |
|
|
48,524 |
|
|
33.61 |
|
|
Vested |
|
|
(38,950 |
) |
|
24.84 |
|
|
Forfeited |
|
|
(2,098 |
) |
|
29.81 |
|
| |
|
|
|
|
|
|
|
Unvested as of October 31, 2012 |
|
|
114,914 |
|
$ |
30.02 |
|
| |
|
|
| Schedule of performance share awards granted |
The company granted performance share awards as follows:
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
Fiscal years ended October 31 |
|
|
2012 |
|
|
2011 |
|
|
2010 |
|
| |
|
|
Weighted-average fair value at date of grant |
|
$ |
28.24 |
|
$ |
31.76 |
|
$ |
20.37 |
|
|
Fair value of performance share awards vested |
|
|
1,828 |
|
|
1,429 |
|
|
798 |
|
| |
|
|
| Schedule of unvested performance share awards and the weighted average fair value at the date of grant |
The table below summarizes the activity during fiscal 2012 for unvested performance share awards:
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
Performance
Shares |
|
|
Weighted-
Average Fair
Value at Date
of Grant |
|
| |
|
|
Unvested as of October 31, 2011 |
|
|
637,996 |
|
$ |
20.88 |
|
|
Granted |
|
|
202,400 |
|
|
28.24 |
|
|
Vested |
|
|
(64,268 |
) |
|
14.31 |
|
|
Forfeited |
|
|
(192,796 |
) |
|
14.31 |
|
| |
|
|
|
|
|
|
|
Unvested as of October 31, 2012 |
|
|
583,332 |
|
$ |
26.33 |
|
| |
|
|