STOCK REPURCHASE PROGRAMS

6 Months Ended

May 31, 2013

Equity [Abstract]

STOCK REPURCHASE PROGRAMS

STOCK REPURCHASE PROGRAMS

On April 26, 2013, 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 March 2012, and the remaining authorized amount of $75.8 million under the March 2012 stock repurchase program was canceled.

During the six months ended May 31, 2013, we repurchased 4.0 million shares for $81.2 million under the stock repurchase program.

In connection with the repurchase activities during the six months ended May 31, 2013, we classified $59.2 million of the excess purchase price over the par value of our common stock to retained earnings.