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Stock-Based Compensation (Tables)
 12 Months Ended
May 31, 2016
Share-based Compensation [Abstract]  
Assumptions Used to Determine Fair Value of Options
The fair value of options was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:
 
2016
 
2015
 
2014
 
 
 
 
 
 
Risk-free interest rate
2.0
%
 
2.0
%
 
2.0
%
Dividend yield
1.4
%
 
1.6
%
 
1.7
%
Expected volatility of Cintas' common stock
23.3
%
 
28.0
%
 
28.0
%
Expected life of the option in years
7.5

 
7.5

 
7.5
Stock Options Granted and Outstanding
The weighted average expected term was determined based on the historical employee exercise behavior of the options. The weighted-average fair value of stock options granted during fiscal 2016, 2015 and 2014 was $21.60, $20.64 and $16.63, respectively.
The information presented in the following table relates primarily to stock options granted and outstanding under either the 2005 Equity Compensation Plan or under previously adopted plans:
 
Shares
 
Weighted
Average
Exercise
Price
 
 
 
 
Outstanding, June 1, 2013 (1,815,795 shares exercisable)
7,885,638

 
$
37.60

Granted
2,111,649

 
61.04

Canceled
(699,314
)
 
42.42

Exercised
(1,272,179
)
 
39.03

Outstanding, May 31, 2014 (1,583,413 shares exercisable)
8,025,794

 
43.12

Granted
1,590,185

 
84.59

Canceled
(486,720
)
 
55.50

Exercised
(1,293,689
)
 
38.11

Outstanding, May 31, 2015 (1,426,550 shares exercisable)
7,835,570

 
51.59

Granted
1,739,767

 
93.55

Canceled
(235,455
)
 
60.01

Exercised
(919,975
)
 
35.07

Outstanding, May 31, 2016 (1,649,236 shares exercisable)
8,419,907

 
$
61.83
Summary of Information Related to Stock Options Outstanding
The following table summarizes the information related to stock options outstanding at May 31, 2016:
 
 
 
Outstanding Options
 
Exercisable Options
Range of
Exercise Prices
Number
Outstanding
 
Average
Remaining
Option
Life
 
Weighted
Average
Exercise
Price
 
Number
Exercisable
 
Weighted
Average
Exercise
Price
  $ 20.29 – $ 37.75
1,555,054
 
4.44
 
$
31.22

 
1,122,463

 
$
29.87

    37.76 – 47.22
2,105,731
 
6.33
 
42.33

 
437,534

 
39.91

    47.23 –  86.09
1,824,303
 
8.17
 
64.90

 
89,239

 
62.96

    86.10  –  95.09
2,934,819
 
9.58
 
90.54

 
—

 
—

  $ 20.29 – $ 95.09
8,419,907
 
7.51
 
$
61.83

 
1,649,236

 
$
34.32
Restricted Stock Awards Granted and Outstanding
The information presented in the following table relates to restricted stock awards granted and outstanding under either the 2005 Equity Compensation Plan or under previously adopted plans:
 
Shares
 
Weighted
Average
Grant Price
Outstanding, unvested grants at June 1, 2013
2,015,023

 
$
35.97

Granted
661,514

 
60.66

Canceled
(52,124
)
 
37.95

Vested
(465,635
)
 
28.76

Outstanding, unvested grants at May 31, 2014
2,158,778

 
45.04

Granted
627,033

 
80.73

Canceled
(50,277
)
 
49.33

Vested
(525,421
)
 
34.39

Outstanding, unvested grants at May 31, 2015
2,210,113

 
57.60

Granted
1,069,748

 
92.10

Canceled
(70,998
)
 
65.79

Vested
(605,427
)
 
38.76

Outstanding, unvested grants at May 31, 2016
2,603,436

 
$
75.94