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Stock-based Compensation
 3 Months Ended
Feb. 28, 2019
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 (in millions):
 
Three months ended February 28,
 
2019
 
2018
Stock-based compensation expense
$
6.7

 
$
4.3


Our 2019 annual grant of stock options and RSUs is expected to occur in the second quarter, similar to the 2018 annual grant.
 

The following is a summary of our stock option activity for the three months ended February 28, 2019 and 2018:
 
2019
 
2018
(shares in millions)
Number
of
Shares
 
Weighted-
Average
Exercise
Price
 
Number
of
Shares
 
Weighted-
Average
Exercise
Price
Outstanding at beginning of period
3.6

 
$
82.60

 
4.8

 
$
71.91

Exercised
(0.1
)
 
63.07

 
(0.3
)
 
54.84

Outstanding at end of the period
3.5

 
$
83.04

 
4.5

 
$
73.04

Exercisable at end of the period
2.7

 
$
77.11

 
3.5

 
$
66.37

As of February 28, 2019, the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $187.2 million and for options currently exercisable was $158.0 million. The total intrinsic value of all options exercised during the three months ended February 28, 2019 and 2018 was $5.9 million and $15.4 million, respectively.
The following is a summary of our RSU activity for the three months ended February 28, 2019 and 2018:
 
2019
 
2018
(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
423

 
$
103.05

 
267

 
$
86.47

Granted
—

 
—

 
31

 
95.60

Vested
(3
)
 
95.64

 
(1
)
 
75.99

Forfeited
(2
)
 
99.36

 
(4
)
 
93.66

Outstanding at end of period
418

 
$
103.12

 
293

 
$
87.40


The following is a summary of our LTPP activity for the three months ended February 28, 2019 and 2018:
 
2019
 
2018
(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
218

 
$
83.55

 
220

 
$
84.31

Granted
102

 
150.51

 
86

 
101.90

Vested
(57
)
 
86.40

 
(59
)
 
74.02

Outstanding at end of period
263

 
$
117.14

 
247

 
$
92.91