Stock-Based Compensation (Tables)

12 Months Ended

May 31, 2019

Stock-Based Compensation

Schedule of assumptions used in the Black-Scholes option pricing model to estimate the fair value of stock option grant

	Stock Options Granted
	In Fiscal Year
	2019		2018		2017
Risk-free interest rate	2.7	%	1.8	%	1.0	%
Expected volatility of common stock	30.8	%	31.7	%	36.8	%
Dividend yield	0.6	%	0.9	%	1.3	%
Expected option term in years	4.5		4.3		4.0

Summary of stock option activity

A summary of stock option activity for the three years ended May 31, 2019 consisted of the following (shares in thousands):

	2019			2018			2017
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise Price		Shares	Exercise Price		Shares	Exercise Price
Outstanding at beginning of year	2,082	$	26.72	2,334	$	23.02	2,096	$	22.17
Granted	300	$	47.84	463	$	35.33	687	$	24.10
Exercised	(571)	$	25.56	(704)	$	20.04	(396)	$	20.07
Cancelled	(34)	$	42.02	(11)	$	29.50	(53)	$	25.42
Outstanding at end of year	1,777	$	30.37	2,082	$	26.72	2,334	$	23.02
Options exercisable at end of year	981	$	25.28	883	$	23.81	910	$	21.97

Schedule of restricted share activity

Restricted share activity during the fiscal 2019 was as follows (shares in thousands):

		Weighted Average
	Number of	Fair Value
	Shares	on Grant Date
Nonvested at May 31, 2018	684	$	27.89
Granted	168	$	40.83
Vested	(303)	$	28.08
Forfeited	(17)	$	40.67
Nonvested at May 31, 2019	532	$	31.70