Equity (Tables)

12 Months Ended

May 31, 2021

Equity

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
	2021		2020		2019
Risk-free interest rate	0.4	%	1.9	%	2.7	%
Expected volatility of common stock	40.2	%	32.0	%	30.8	%
Dividend yield	1.6	%	0.8	%	0.6	%
Expected option term in years	4.8		4.5		4.5

Schedule of stock option activity

A summary of stock option activity for the three years ended May 31, 2021 consisted of the following (shares in thousands):

	2021			2020			2019
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise Price		Shares	Exercise Price		Shares	Exercise Price
Outstanding at beginning of year	1,851	$	32.74	1,777	$	30.37	2,082	$	26.72
Granted	936		18.94	414		37.66	300		47.84
Exercised	(110)		23.93	(300)		24.99	(571)		25.56
Cancelled	(65)		25.59	(40)		36.72	(34)		42.02
Outstanding at end of year	2,612	$	28.34	1,851	$	32.74	1,777	$	30.37
Options exercisable at end of year	1,371	$	31.56	1,133	$	28.32	981	$	25.28

Schedule of restricted share activity

Restricted share activity during fiscal 2021 was as follows (shares in thousands):

		Weighted Average
	Number of	Fair Value
	Shares	on Grant Date
Nonvested at May 31, 2020	385	$	31.70
Granted	290		23.43
Vested	(292)		32.15
Forfeited	(14)		26.60
Nonvested at May 31, 2021	369		30.12