Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Nov. 29, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Allocation of share-based compensation costs

The following table summarizes information related to stock options and stock option exercises during the years ended November 30, 2014, 2013 and 2012.

	2014			2013			2012
Pre-tax compensation expense	$	5,025		$	3,212		$	4,997
Deferred tax benefits	(1,834		)	(1,153		)	(1,836		)
Excess tax benefits associated with tax deductions over the amount of compensation expense recognized in the consolidated financial statements	2,668			7,231			2,007
Fair value of options granted	5,186			3,868			6,407
Total intrinsic value of options exercised	9,696			29,384			8,793
Cash received upon exercise of options	10,738			33,778			5,170
Addition to capital in excess of par value due to exercise of stock options	13,084			38,903			5,440

The following table summarizes information related to restricted stock unit awards during the years ended November 30, 2014, 2013 and 2012.

	2014			2013			2012
Pre-tax compensation expense	$	1,373		$	888		$	1,229
Deferred tax benefits	(501		)	(319		)	(451		)
Excess tax (expense) benefit associated with tax deductions (under) over the amount of compensation expense recognized in the consolidated financial statements	101			1,280			(88		)
Fair value of restricted stock unit awards on date of grant	1,524			1,068			1,489
Fair value of restricted stock unit awards vested	893			621			2,359

The following table summarizes information related to directors' stock compensation during the years ended November 30, 2014, 2013 and 2012.

	2014		2013		2012
Pre-tax compensation expense	$	880	$	960	$	200
Shares of Company common stock issued under the plans	15,400		18,256		4,055

Schedule of nonqualified stock option activity

The following table summarizes activity with respect to nonqualified stock options granted by the Company and includes options granted under the 2014, 2009, 2004 and 1994 Incentive Plans.

	2014				2013				2012
	Options Granted under Incentive Plans		Weighted Average Exercise Price		Options Granted under Incentive Plans		Weighted Average Exercise Price		Options Granted under Incentive Plans		Weighted Average Exercise Price
Outstanding at beginning of year	2,208,314		$	40.76	3,037,151		$	36.09	2,907,533		$	32.39
Granted	450,700		$	61.49	387,500		$	45.25	512,850		$	49.84
Exercised	(322,473	)	$	33.30	(1,191,752	)	$	30.30	(353,793	)	$	25.28
Surrendered	(25,821	)	$	52.47	(24,585	)	$	42.48	(29,439	)	$	40.17
Outstanding at end of year	2,310,720		$	45.71	2,208,314		$	40.76	3,037,151		$	36.09
Exercisable at end of year	1,409,359		$	40.70	1,413,100		$	38.19	2,035,267		$	32.54

Schedule of outstanding and exercisable options

The following table summarizes information about the Company’s outstanding and exercisable options at November 30, 2014.

	Options Outstanding						Options Exercisable
Range of Exercise Prices	Number	Weighted Average Exercise Price		Intrinsic Value		Weighted Average Remaining Life in Years	Number	Weighted Average Exercise Price		Intrinsic Value		Weighted Average Remaining Life in Years
$25.31 - $28.79	66,100	$	26.59	$	2,598	2.63	66,100	$	26.59	$	2,598	2.63
$31.96 - $36.48	523,009	$	33.62	16,876		3.72	523,009	$	33.62	16,876		3.72
$42.86 - $49.91	1,279,161	$	46.20	25,193		7.17	808,125	$	46.13	15,969		6.87
$55.01 - $61.57	442,450	$	61.45	1,962		9.05	12,125	$	61.23	56		9.02
	2,310,720	$	45.71	$	46,629	6.62	1,409,359	$	40.70	$	35,499	5.52

Schedule of Black-Scholes option pricing model on options granted

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions by grant year.

	2014			2013			2012
Weighted average fair value per option at the date of grant for options granted	$	11.51		$	9.98		$	12.49
Risk-free interest rate	1.55		%	1.19		%	1.38		%
Expected dividend yield	1.10		%	1.19		%	0.96		%
Expected volatility factor	21.38		%	25.80		%	26.52		%
Expected option term in years	5.00			5.40			6.10

Schedule of restricted stock unit awards

The following table summarizes the restricted stock unit awards.

	2014				2013				2012
	Units		Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value		Units		Weighted Average Grant Date Fair Value
Nonvested at beginning of year	48,044		$	45.18	39,945		$	43.16	71,545		$	36.95
Granted	24,808		$	61.42	23,624		$	45.19	29,839		$	49.91
Vested	(20,156	)	$	44.29	(15,525	)	$	40.01	(60,320	)	$	39.11
Surrendered	(1,684	)	$	54.36	—		$	—	(1,119	)	$	44.15
Nonvested at end of year	51,012		$	53.12	48,044		$	45.18	39,945		$	43.16

Schedule of shares issues under employee stock purchase plans

The Company issued stock under this plan with fair value upon issuance as follows during the years ended November 30, 2014, 2013 and 2012.

	2014		2013		2012
Company stock issued under the plan	$	1,338	$	1,269	$	1,244