Stock Repurchase Programs

3 Months Ended

Feb. 28, 2012

Stock Repurchase Programs [Abstract]

Stock Repurchase Programs

16. STOCK REPURCHASE PROGRAMS

On December 21, 2010, we announced that our Board of Directors approved a new 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. We repurchased 2.8 million shares for $67.5 million during the three months ended February 28, 2012 (which due to a delay in the receipt by the company from the purchasing agent, were reflected as outstanding in our Proxy Statement for the 2012 Annual Meeting of Stockholders) and 1.2 million shares for $24.4 million during the three months ended February 28, 2011 under the stock repurchase program.

In connection with the repurchase activities during the three months ended February 28, 2012, we classified $33.4 million of the excess purchase price over the par value of our common stock to retained earnings.

Subsequent to the end of our first fiscal quarter, on March 29, 2012, we announced that our Board of Directors approved a new 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.