XML 34 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Stock-Based Compensation
3 Months Ended
Feb. 28, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Stock-Based Compensation
Stock-Based Compensation
Stock Options. We estimate the grant-date fair value of stock options using the Black-Scholes option-pricing model. The following table summarizes stock option transactions for the three months ended February 28, 2018:
 
Options
 
Weighted
Average Exercise
Price
Options outstanding at beginning of period
9,265,240

 
$
17.64

Granted

 

Exercised
(268,954
)
 
10.96

Cancelled
(16,208
)
 
15.47

Options outstanding at end of period
8,980,078

 
$
17.85

Options exercisable at end of period
8,038,678

 
$
18.09


As of February 28, 2018, the weighted average remaining contractual life of stock options outstanding and stock options exercisable was 4.1 years and 3.6 years, respectively. There was $.7 million of total unrecognized compensation expense related to unvested stock option awards as of February 28, 2018 that is expected to be recognized over a weighted average period of 1.1 years. For the three months ended February 28, 2018 and 2017, stock-based compensation expense associated with stock options totaled $.2 million and $.8 million, respectively. The aggregate intrinsic values of stock options outstanding and stock options exercisable were $103.8 million and $92.5 million, respectively, at February 28, 2018. (The intrinsic value of a stock option is the amount by which the market value of a share of the underlying common stock exceeds the exercise price of the stock option.)
Other Stock-Based Awards. From time to time, we grant restricted stock and PSUs to various employees as a compensation benefit. We recognized total compensation expense of $3.7 million and $2.3 million for the three months ended February 28, 2018 and 2017, respectively, related to restricted stock and PSUs.