STOCK REPURCHASE PROGRAMS

6 Months Ended

May 31, 2014

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. During the six months ended May 31, 2014, we repurchased 2.6 million shares for $55.9 million.

In connection with the repurchase activities during the six months ended May 31, 2014, we classified $41.2 million of the excess purchase price over the par value of our common stock to retained earnings.