XML 54 R30.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Share-Based Compensation (Tables)
12 Months Ended
Nov. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]  
Schedule of Share-Based Compensation Expense

The Company recorded share-based compensation expense in the Consolidated Statements of Operations for fiscal years 2019, 2018 and 2017 as follows:

 

 

 

Fiscal Years Ended November 30,

 

 

 

2019

 

 

2018

 

 

2017

 

Total share-based compensation

 

$

28,162

 

 

$

22,767

 

 

$

17,523

 

Tax benefit recorded in the provision for income taxes

 

 

(6,990

)

 

 

(6,156

)

 

 

(6,167

)

Effect on net income

 

$

21,172

 

 

$

16,611

 

 

$

11,356

 

 

Schedule of Assumptions Used in Black-Scholes Valuation Model

The following assumptions were used in the Black-Scholes valuation model in fiscal years 2019, 2018 and 2017:

 

 

 

 

Fiscal Years Ended November 30,

 

 

 

2019

 

2018

 

 

2017

 

Stock option plan:

 

 

 

 

 

 

 

 

 

 

Expected life (years)

 

6.0 - 6.1

 

 

6.0

 

 

 

5.9

 

Risk free interest rate

 

1.59% - 2.62%

 

 

3.09

%

 

 

2.11

%

Expected volatility

 

32.33% - 33.69%

 

 

30.85

%

 

 

29.41

%

Dividend yield

 

1.36% - 1.54%

 

 

1.84

%

 

 

0.93

%

Summary of Activities Under Stock Incentive Plan

A summary of the activities under the Company’s stock incentive plan is set forth below:

 

 

 

 

 

 

 

Options Outstanding

 

 

 

Shares available

for grant

 

 

Number of

shares

 

 

Weighted-

average exercise

price per share

 

Balances, November 30, 2018

 

 

889

 

 

 

780

 

 

$

75.62

 

Restricted stock awards granted

 

 

(320

)

 

 

 

 

 

 

Restricted stock units granted

 

 

(231

)

 

 

 

 

 

 

Restricted stock cancelled/forfeited

 

 

61

 

 

 

 

 

 

 

Options granted

 

 

(137

)

 

 

137

 

 

$

108.78

 

Options exercised

 

 

 

 

 

(51

)

 

$

37.66

 

Balances, November 30, 2019

 

 

262

 

 

 

866

 

 

$

83.10

 

Schedule of Cash Received from Exercise of Options and intrinsic Values of Options Exercised

The cash received from the exercise of options and the intrinsic values of options exercised during fiscal years 2019, 2018 and 2017 were as follows:

 

 

 

Fiscal Years Ended November 30,

 

 

 

2019

 

 

2018

 

 

2017

 

Intrinsic value of options exercised

 

$

3,782

 

 

$

2,465

 

 

$

3,856

 

Cash received from exercise of options

 

$

1,908

 

 

$

1,561

 

 

$

1,400

 

 

Summary Changes in Non-vested Restricted Stock Awards and Stock Units

A summary of the changes in the Company’s non-vested restricted stock awards and stock units during fiscal year 2019 is presented below:

 

 

 

Number of

shares

 

 

Weighted-average,

grant-date

fair value per share

 

Non-vested as of November 30, 2018

 

 

764

 

 

$

99.28

 

Awards granted

 

 

320

 

 

 

109.55

 

Units granted(1)

 

 

231

 

 

 

96.80

 

Awards and units vested

 

 

(202

)

 

 

87.28

 

Awards and units cancelled/forfeited(2)

 

 

(61

)

 

 

94.13

 

Non-vested as of November 30, 2019

 

 

1,051

 

 

$

103.51

 

 

 

(1)

For performance-based restricted stock units, the maximum number of shares that can be awarded upon full vesting of the grants is included.

 

(2)

For performance-based restricted stock units, the difference between maximum awards and the actual number of shares issued upon full vesting is included.