STOCK REPURCHASE PROGRAMS

3 Months Ended

Feb. 28, 2013

Equity [Abstract]

STOCK REPURCHASE PROGRAMS

STOCK REPURCHASE PROGRAMS

On March 29, 2012, we announced that our Board of Directors approved a stock repurchase program pursuant to which we may repurchase up to $300.0 million of our outstanding common stock from time to time in the open market or through privately negotiated transactions. In connection with the approval of this program, our Board of Directors also terminated our previous $300.0 million stock repurchase program from December 2010, and the remaining authorized amount of $38.4 million under the December 2010 stock repurchase program was canceled.

During the three months ended February 28, 2013, we repurchased 1.0 million shares for $21.9 million under the stock repurchase program.

In connection with the repurchase activities during the three months ended February 28, 2013, we classified $16.4 million of the excess purchase price over the par value of our common stock to retained earnings.

From March 4, 2013 up to April 8, 2013, we repurchased approximately 1.4 million shares at an average price of $19.46 per share under the stock repurchase program.