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Stock-Based Compensation Plans (Tables)
9 Months Ended
Feb. 28, 2013
Weighted-Average Grant Date Fair Value of Options Granted and Weighted-Average Assumptions Used for Grants
The following table sets forth the information about the weighted-average grant date fair value of options granted during the nine-month period February 29, 2012 and the weighted-average assumptions used for such grants.
 
 
 
Nine months ended February 29,
 
 
2012
Weighted average grant date fair value
 
$
13.80

Weighted average assumptions used:
 
 
Expected volatility
 
.450

Expected option term in years
 
6.7

Risk-free interest rate
 
1.31
%
Expected dividend yield
 
.02
%
Option Transactions
A summary of option transactions for the nine-month periods ended February 28, 2013, follows:
 
 
 
Shares Under
Option
 
Weighted-Average
Option Price
Outstanding at May 31, 2012
 
2,145,570

 
$
38.54

Exercised
 
(278,477
)
 
31.27

Canceled
 
(33,394
)
 
42.49

Outstanding at February 28, 2013
 
1,833,699

 
$
39.57

Exercisable at February 28, 2013
 
1,166,137

 
$
43.12

Stock Options Outstanding
The following table summarizes information about stock options outstanding as of February 28, 2013.
 
 
 
Range of Exercise Prices
 
 
$16.04 - $29.38
 
$33.57 - $48.60
 
$50.63 - $70.18
Options outstanding
 
 
 
 
 
 
Shares outstanding
 
654,204

 
702,680

 
476,815

Weighted-average remaining life in years
 
6.50

 
5.86

 
3.37

Weighted-average exercise price
 
$
26.03

 
$
39.76

 
$
57.88

Options exercisable
 
 
 
 
 
 
Shares exercisable
 
306,052

 
383,270

 
476,815

Weighted-average remaining life in years
 
4.58

 
4.79

 
3.35

Weighted-average exercise price
 
$
23.25

 
$
40.62

 
$
57.87