XML 50 R12.htm IDEA: XBRL DOCUMENT v2.4.0.8
Stock-based Compensation
 3 Months Ended
Feb. 28, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
STOCK-BASED COMPENSATION

We have three types of stock-based compensation awards: restricted stock units (RSUs), stock options and company stock awarded as part of our mid-term incentive program (MTIP). The following table sets forth the stock-based compensation expense recorded in selling, general and administrative (SG&A) expense (in millions):
 
Three months ended February 28,
 
2014
 
2013
Stock-based compensation expense
$
2.6

 
$
2.8


Our 2014 annual grant of stock options and RSUs is expected to occur in the second quarter, similar to the 2013 annual grant.
 
The following is a summary of all of our RSU activity for the three months ended February 28, 2014 and 2013:
 
2014
 
2013
(shares in thousands)
Number
of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
 
Number
of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
Outstanding at beginning of period
161

 
$
60.86

 
192

 
$
49.65

Vested
(2
)
 
38.28

 
—

 
—

Forfeited
(1
)
 
65.23

 
(1
)
 
51.75

Outstanding at end of period
158

 
$
61.10

 
191

 
$
49.63


The following is a summary of all stock option activity for the three months ended February 28, 2014 and 2013:
 
2014
 
2013
(shares in millions)
Number
of
Shares
 
Weighted-
Average
Exercise
Price
 
Number
of
Shares
 
Weighted-
Average
Exercise
Price
Outstanding at beginning of period
4.6

 
$
47.73

 
5.1

 
$
40.06

Exercised
(0.3
)
 
32.19

 
(0.5
)
 
29.96

Outstanding at end of the period
4.3

 
$
48.87

 
4.6

 
$
41.15

Exercisable at end of the period
2.4

 
$
40.98

 
2.2

 
$
36.10

As of February 28, 2014 the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $80.6 million and for options currently exercisable was $61.2 million. The total intrinsic value of all options exercised during the three months ended February 28, 2014 and 2013 was $11.7 million and $17.1 million, respectively.
The following is a summary of the MTIP award activity for the three months ended February 28, 2014 and 2013:
 
2014
 
2013
(shares in thousands)
Number
of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
 
Number
of
Shares
 
Weighted-
Average
Grant-Date
Fair Value
Outstanding at beginning of period
334

 
$
51.73

 
240

 
$
46.63

Granted
105

 
69.04

 
94

 
64.74

Vested
(118
)
 
44.47

 
—

 
—

Forfeited
(2
)
 
44.47

 
—

 
—

Outstanding at end of period
319

 
$
60.15

 
334

 
$
51.73