Stock-Based Compensation (Tables)

12 Months Ended

May. 31, 2015

Share-based Compensation [Abstract]

Assumptions Used to Determine Fair Value of Options

Except for the options that early vested as a result of the Shredding Transaction in fiscal 2014, the fair value of options was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions:

	2015		2014		2013
Risk-free interest rate	2.0	%	2.0	%	1.3	%
Dividend yield	1.6	%	1.7	%	1.8	%
Expected volatility of Cintas' common stock	28.0	%	28.0	%	28.0	%
Expected life of the option in years	7.5		7.5		7.5

Stock Options Granted and Outstanding

The information presented in the following table relates primarily to stock options granted and outstanding under either the 2005 Equity Compensation Plan or under previously adopted plans:

	Shares		Weighted Average Exercise Price
Outstanding, June 1, 2012 (2,105,705 shares exercisable)	7,609,117		$	36.04
Granted	1,722,081		44.67
Canceled	(884,384	)	38.69
Exercised	(561,176	)	36.44
Outstanding, May 31, 2013 (1,815,795 shares exercisable)	7,885,638		37.60
Granted	2,111,649		61.04
Canceled	(699,314	)	42.42
Exercised	(1,272,179	)	39.03
Outstanding, May 31, 2014 (1,583,413 shares exercisable)	8,025,794		43.12
Granted	1,590,185		84.59
Canceled	(486,720	)	55.50
Exercised	(1,293,689	)	38.11
Outstanding, May 31, 2015 (1,426,550 shares exercisable)	7,835,570		$	51.59

Summary of Information Related to Stock Options Outstanding

The following table summarizes the information related to stock options outstanding at May 31, 2015:

		Outstanding Options			Exercisable Options
Range of Exercise Prices	Number Outstanding	Average Remaining Option Life	Weighted Average Exercise Price		Number Exercisable	Weighted Average Exercise Price
$ 20.29 – $ 34.45	1,845,741	5.35	$	30.16	928,968	$	28.43
34.46 – 42.58	1,685,350	6.15	38.19		255,562	38.55
42.59 –  62.88	1,360,216	7.62	48.57		223,399	50.34
62.89  –  86.09	2,944,263	9.55	74.50		18,621	63.45
$ 20.29 – $ 86.09	7,835,570	7.49	$	51.59	1,426,550	$	34.13

Restricted Stock Awards Granted and Outstanding

The information presented in the following table relates to restricted stock awards granted and outstanding under either the 2005 Equity Compensation Plan or under previously adopted plans:

	Shares		Weighted Average Grant Price
Outstanding, unvested grants at June 1, 2012	1,888,996		$	29.93
Granted	810,453		41.72
Canceled	(73,856	)	31.78
Vested	(610,570	)	25.40
Outstanding, unvested grants at May 31, 2013	2,015,023		35.97
Granted	661,514		60.66
Canceled	(52,124	)	37.95
Vested	(465,635	)	28.76
Outstanding, unvested grants at May 31, 2014	2,158,778		45.04
Granted	627,033		80.73
Canceled	(50,277	)	49.33
Vested	(525,421	)	34.39
Outstanding, unvested grants at May 31, 2015	2,210,113		$	57.60