XML 75 R57.htm IDEA: XBRL DOCUMENT v3.22.4
Compensation Plans (Tables)
 12 Months Ended
Nov. 30, 2022
Compensation Related Costs [Abstract]  
Activity of Restricted Stock
The following table details the total activity in restricted stock, inclusive across all plans, during the years ended November 30, 2022, 2021 and 2020 (in thousands, except per share amounts):
Restricted StockWeighted- Average
Grant Date
Fair Value
Balance at November 30, 2019
2,008 $22.04 
Grants115 $13.20 
Forfeited(21)$23.38 
Fulfillment of vesting requirement(619)$19.99 
Balance at November 30, 2020
1,483 $22.19 
Grants337 $30.81 
Forfeited(40)$24.92 
Fulfillment of vesting requirement(196)$23.55 
Balance at November 30, 2021
1,584 $23.78 
Grants1,457 $29.91 
Forfeited— $— 
Fulfillment of vesting requirement(902)$24.03 
Balance at November 30, 2022
2,139 $27.85 
Activity of Restricted Stock Units
The following table details the activity in total RSUs, inclusive across all plans, during the years ended November 30, 2022, 2021 and 2020 (in thousands, except per share amounts):
Weighted-Average
Grant Date
Fair Value
Future
Service
Required		No Future
Service
Required		Future
Service
Required		No Future
Service
Required
Balance at November 30, 2019
10 15,667 $18.83 $21.35 
Grants14 487 $13.20 $15.73 
Distributions of underlying shares— (88)$— $25.48 
Forfeited— — $— $— 
Fulfillment of service requirement (1)(3)2,477 $18.83 $19.80 
Balance at November 30, 2020
21 18,543 $14.99 $20.97 
Grants80 445 $27.10 $30.03 
Distributions of underlying shares— (1,803)$— $26.32 
Forfeited— — $— $— 
Fulfillment of service requirement (1)(53)8 $25.03 $15.52 
Balance at November 30, 2021
48 17,193 $24.07 $20.64 
Grants2,299 472 $33.75 $28.79 
Distributions of underlying shares— (6,453)$— $14.65 
Forfeited— — $— $— 
Fulfillment of vesting requirement (1)(39)1,443 $24.67 $25.38 
Balance at November 30, 2022
2,308 12,655 $33.70 $24.55 

(1)Fulfillment of vesting requirement during the years ended November 30, 2022, 2021 and 2020, includes 1,433 RSUs, 0 RSUs and 2,474 RSUs, respectively, related to the senior executive compensation plans.
In addition, the following table details the activity in RSUs related to the senior executive compensation plan targeted number of shares during the years ended November 30, 2022, 2021 and 2020 (in thousands, except per share amounts):
Target Number of SharesWeighted- Average
Grant Date
Fair Value
Balance at November 30, 2019
6,491 $23.13 
Grants187 $15.19 
Forfeited(15)$19.01 
Fulfillment of vesting requirement(2,474)$19.80 
Balance at November 30, 2020
4,189 $24.75 
Grants74 $29.81 
Forfeited(1,396)$25.31 
Fulfillment of vesting requirement— $— 
Balance at November 30, 2021
2,867 $25.43 
Grants537 $35.44 
Forfeited— $— 
Fulfillment of vesting requirement(1,433)$25.43 
Balance at November 30, 2022
1,971 $28.16 
Summary of Weighted-Average Assumptions The following summary presents the weighted-average assumptions used for the senior executive stock options issued during the year ended November 30, 2021:
Year Ended
 November 30, 2021
Risk free interest rate0.8 %
Expected volatility32.9 %
Expected dividend yield2.6 %
Expected life5.8 years
Weighted-average fair value per grant$7.43 
Schedule of Components of Compensation Cost The components of total compensation costs associated with certain of our compensation plans are as follows (in millions):
Year Ended November 30,
202220212020
Components of compensation costs:
Restricted cash awards (1)$196.6 $375.5 $474.3 
Stock options and Stock appreciation rights— 48.7 0.1 
Restricted stock and RSUs (2)43.9 29.5 39.9 
Profit sharing plan10.5 7.8 7.8 
Total compensation costs$251.0 $461.5 $522.1 
(1)Amounts include costs related to the accelerated amortization of certain cash-based awards, which were amended to remove any service requirements for vesting in the awards, which amounted to $0.0 million and $188.3 million for the years ended November 30, 2022 and 2021, respectively.
(2)Total compensation costs associated with restricted stock and RSUs include the amortization of sign-on, retention and senior executive awards, less forfeitures and clawbacks. Additionally, we recognize compensation costs related to the discount provided to employees in electing to defer compensation under the DCP. These compensation costs were approximately $0.5 million, $0.4 million and $0.3 million for the years ended November 30, 2022, 2021 and 2020, respectively.
Absent actual forfeitures or cancellations or accelerations, the annual compensation cost for these awards will be recognized as follows (in millions):
Year Ended November 30,
202220232024ThereafterTotal
Restricted cash awards$90.4 $106.8 $103.7 $227.1 $528.0 
Schedule of Remaining Unamortized Amounts Related to Certain Compensation Plans
Remaining unamortized amounts related to certain compensation plans at November 30, 2022 are as follows (dollars in millions):
Remaining Unamortized AmountsWeighted Average Vesting Period
(in Years)
Non-vested share-based awards$124.6 4
Restricted cash awards289.7 3
Total$414.3