Equity (Tables)

12 Months Ended

May 31, 2022

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
	2022		2021		2020
Risk-free interest rate	0.8	%	0.4	%	1.9	%
Expected volatility of common stock	41.6	%	40.2	%	32.0	%
Dividend yield	0.8	%	1.6	%	0.8	%
Expected option term in years	5.3		4.8		4.5

Schedule of stock option activity

A summary of stock option activity for the three years ended May 31, 2022 consisted of the following (shares in thousands):

	2022			2021			2020
		Weighted			Weighted			Weighted
		Average			Average			Average
	Shares	Exercise Price		Shares	Exercise Price		Shares	Exercise Price
Outstanding at beginning of year	2,612	$	28.34	1,851	$	32.74	1,777	$	30.37
Granted	145		37.84	936		18.94	414		37.66
Exercised	(686)		25.53	(110)		23.93	(300)		24.99
Cancelled	(26)		36.17	(65)		25.59	(40)		36.72
Outstanding at end of year	2,045	$	29.86	2,612	$	28.34	1,851	$	32.74
Options exercisable at end of year	1,189	$	33.57	1,371	$	31.56	1,133	$	28.32

Schedule of restricted share activity

Restricted share activity during fiscal 2022 was as follows (shares in thousands):

		Weighted Average
	Number of	Fair Value
	Shares	on Grant Date
Nonvested at May 31, 2021	369	$	30.12
Granted	336		46.44
Vested	(127)		32.30
Forfeited	(24)		43.30
Nonvested at May 31, 2022	554		38.95