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Stock-based Compensation
 3 Months Ended
Feb. 29, 2016
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 for the three months ended February 29, 2016 and February 28, 2015 (in millions):
 
Three months ended
 
2016
 
2015
Stock-based compensation expense
$
3.0

 
$
3.7

 

Our 2016 annual grant of stock options and RSUs is expected to occur in the second quarter, similar to the 2015 annual grant.
The following is a summary of our stock option activity for the three months ended February 29, 2016 and February 28, 2015:
 
2016
 
2015
(shares in millions)
Number
of
Shares
 
Weighted-
Average
Exercise
Price
 
Number
of
Shares
 
Weighted-
Average
Exercise
Price
Outstanding at beginning of period
4.8

 
$
59.20

 
4.8

 
$
54.17

Exercised
(0.1
)
 
41.95

 
(0.3
)
 
39.90

Outstanding at end of the period
4.7

 
$
59.64

 
4.5

 
$
54.89

Exercisable at end of the period
3.0

 
$
52.41

 
2.7

 
$
47.10

As of February 29, 2016, the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $156.8 million and for options currently exercisable was $121.4 million. The total intrinsic value of all options exercised during the three months ended February 29, 2016 and February 28, 2015 was $5.6 million and $8.5 million, respectively.
The following is a summary of our RSU activity for the three months ended February 29, 2016 and February 28, 2015:
 
2016
 
2015
(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
270

 
$
71.03

 
239

 
$
67.60

Vested
(4
)
 
37.94

 
—

 
—

Forfeited
(3
)
 
74.11

 
(3
)
 
71.19

Outstanding at end of period
263

 
$
71.49

 
236

 
$
67.55


The following is a summary of our LTPP activity for the three months ended February 29, 2016 and February 28, 2015:
 
2016
 
2015
(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
192

 
$
70.94

 
231

 
$
61.94

Granted
108

 
86.40

 
96

 
74.02

Vested
(18
)
 
64.74

 
(65
)
 
48.78

Forfeited
(1
)
 
74.02

 
—

 
—

Outstanding at end of period
281

 
$
77.28

 
262

 
$
69.64