Stock-Based Compensation (Tables)

12 Months Ended

Nov. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary Of RSU Activity

A summary of our RSU activity for the years ended November 30 follows:

(shares in thousands)	2022			2021			2020
	Shares	Weighted-     average     price		Shares	Weighted- average price		Shares	Weighted- average price
Beginning of year	563	$	69.52	714	$	61.74	762	$	57.95
Granted	208	94.21		219	86.86		296	67.03
Vested	(251)	71.86		(336)	63.69		(325)	57.56
Forfeited	(40)	85.42		(34)	75.49		(19)	62.96
Outstanding—end of year	480	$	77.62	563	$	69.52	714	$	61.74

Assumptions Of Stock Compensation Plans

These fair values were computed using the following range of assumptions for the years ended November 30:

	2022		2021		2020
Risk-free interest rates	0.2 - 2.5%		0.0 - 1.8%		0.0 - 0.6%
Dividend yield	1.5	%	1.5	%	1.8	%
Expected volatility	21.2	%	21.3	%	22.8%
Expected lives	7.6 years		7.9 years		7.9 years

Summary Of Stock Option Activity

A summary of our stock option activity for the years ended November 30 follows:

(shares in millions)	2022			2021			2020
	Shares	Weighted-     average     exercise     price		Shares	Weighted- average exercise price		Shares	Weighted- average exercise price
Beginning of year	5.0	$	59.71	4.5	$	53.56	5.2	$	48.09
Granted	0.7	97.26		0.8	89.16		0.7	69.31
Exercised	(0.8)	47.58		(0.3)	45.93		(1.4)	41.01
Forfeited	(0.1)	88.40		—	—		—	—
Outstanding—end of year	4.8	67.08		5.0	59.71		4.5	53.56
Exercisable—end of year	3.5	$	58.03	3.6	$	51.51	3.2	$	47.76

These fair values were computed using the following range of assumptions:

Risk-free interest rates	0.85	%
Dividend yield	1.5	%
Expected volatility	21.2	%
Expected lives	5.6 - 6.2 years

The following is a summary of our Price-Vested Stock Options activity for the years ended November 30:

(shares in thousands)	2022			2021			2020
	Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value		Number of Shares	Weighted- Average Grant-Date Fair Value
Beginning of year	2,193	$	9.40	2,482	$	9.40	—	$	—
Granted	—			15	9.66		2,482	9.40
Forfeited	(86)	9.40		(304)	9.41		—	—
Outstanding—end of year	2,107	$	9.40	2,193	$	9.40	2,482	$	9.40

As of November 30, 2022, 2021, and 2020, the outstanding options are divided equally between the three appreciation thresholds.

Summary Of Our Stock Options Outstanding And Exercisable

A summary of our stock options outstanding and exercisable at November 30, 2022 follows:

(shares in millions)	Options outstanding				Options exercisable
Range of exercise price	Shares	Weighted- average remaining life (yrs.)	Weighted- average exercise price		Shares	Weighted- average remaining life (yrs.)	Weighted-   average   exercise   price
$27.00 - $51.00	1.7	3.4	$	46.49	1.7	3.4	$	46.49
$51.01 - $75.00	1.6	6.4	65.39		1.4	6.3	64.93
$75.01 - $99.00	1.5	8.8	92.85		0.4	8.4	89.48
	4.8	6.1	$	67.08	3.5	5.9	$	65.89

Schedule of Long-term Performance Plan Activity

A summary of the LTPP award activity for the years ended November 30 follows:

(shares in thousands)	2022			2021			2020
	Shares	Weighted-     average     price		Shares	Weighted- average price		Shares	Weighted- average price
Beginning of year	497	$	83.74	382	$	71.20	392	$	57.98
Granted	152	95.00		141	98.30		130	86.14
Vested	(251)	75.26		(124)	51.73		(88)	44.98
Performance adjustment	59	86.14		126	75.26		(44)	50.95
Forfeited	(6)	95.37		(28)	90.32		(8)	65.68
Outstanding—end of year	451	$	106.32	497	$	83.74	382	$	71.20