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Stock-based Compensation
 3 Months Ended
Feb. 28, 2015
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 long-term performance plan (LTPP). 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,
 
2015
 
2014
Stock-based compensation expense
$
3.7

 
$
2.6


Our 2015 annual grant of stock options and RSUs is expected to occur in the second quarter, similar to the 2014 annual grant.
 

The following is a summary of our stock option activity for the three months ended February 28, 2015 and 2014:
 
2015
 
2014
(shares in millions)
Number
of
Shares
 
Weighted-
Average
Exercise
Price
 
Number
of
Shares
 
Weighted-
Average
Exercise
Price
Outstanding at beginning of period
4.8

 
$
54.17

 
4.6

 
$
47.73

Exercised
(0.3
)
 
39.90

 
(0.3
)
 
32.19

Outstanding at end of the period
4.5

 
54.89

 
4.3

 
48.87

Exercisable at end of the period
2.7

 
$
47.10

 
2.4

 
$
40.98

As of February 28, 2015 the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $92.5 million and for options currently exercisable was $76.2 million. The total intrinsic value of all options exercised during the three months ended February 28, 2015 and 2014 was $8.5 million and $11.7 million, respectively.
The following is a summary of our RSU activity for the three months ended February 28, 2015 and 2014:
 
2015
 
2014
(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
239

 
$
67.60

 
161

 
$
60.86

Vested
—

 
—

 
(2
)
 
38.28

Forfeited
(3
)
 
71.19

 
(1
)
 
65.23

Outstanding at end of period
236

 
$
67.55

 
158

 
$
61.10


The following is a summary of our LTPP activity for the three months ended February 28, 2015 and 2014:
 
2015
 
2014
(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
231

 
$
61.94

 
334

 
$
51.73

Granted
96

 
74.02

 
105

 
69.04

Vested
(65
)
 
48.78

 
(118
)
 
44.47

Forfeited
—

 
—

 
(2
)
 
44.47

Outstanding at end of period
262

 
$
69.64

 
319

 
$
60.15