STOCK-BASED COMPENSATION

9 Months Ended

Aug. 31, 2014

Stock-based compensation for the three months ended August 31, 2014 and 2013 was $8.6 million and $7.9 million, respectively. Stock-based compensation for the nine months ended August 31, 2014 and 2013 was $31.9 million and $39.2 million, respectively. The deferred tax benefit from stock-based compensation for the three months ended August 31, 2014 and 2013 was $2.4 million and $1.9 million, respectively. The deferred tax benefit from stock-based compensation expenses for the nine months ended August 31, 2014 and 2013 was $8.9 million and $11.3 million, respectively.

Since fiscal year 2010, certain of our employees received performance-based restricted stock units ("PRSUs"). These PRSUs are subject to the terms and conditions set forth in each applicable PRSU Agreement and have been granted under our 2008 Equity Incentive Plan. In February and May of 2014, we granted 1.7 million PRSUs to certain senior executives with performance-based and time-based vesting requirements. On August 1, 2014, we cancelled the previously granted shares and granted 0.9 million PRSUs with new market-based and time-based vesting requirements. During the nine months ended August 31, 2014, a total of 2.6 million PRSUs were granted and 1.8 million shares vested.

The following table summarizes additional information pertaining to our stock-based compensation from stock options and stock awards, which are comprised of restricted stock, restricted stock units and performance-based restricted stock units (in thousands, except grant-date fair value and recognition period):



	Three Months Ended August 31,				Nine Months Ended August 31,
	2014		2013		2014		2013
Stock options:
Options exercised	1,230		1,395		3,374		2,382
Total intrinsic value of stock options exercised	$	13,759	$	20,059	$	40,710	$	36,114
Total unrecognized compensation expense at period-end	$	2,411	$	7,623	$	2,411	$	7,623
Weighted-average remaining recognition period at period-end	1.1 years		1.7 years		1.1 years		1.7 years

Stock awards (excluding PRSUs):
Weighted-average grant-date fair value	$	20.11	$	23.67	$	19.90	$	22.49
Stock awards granted	1,521		214		5,605		2,961
Stock awards vested	351		361		1,717		1,835
Total unrecognized compensation expense at period-end	$	90,528	$	88,184	$	90,528	$	88,184
Weighted-average remaining recognition period at period-end	2.5 years		1.8 years		2.5 years		1.8 years

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details