Stock-Based Compensation Plans (Tables)
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12 Months Ended |
May 31, 2019 |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Weighted-Average Assumptions |
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Year ended May 31,
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2019
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2018
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2017
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Stock options
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Risk-free interest rate
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2.9
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%
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2.1
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%
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1.2
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%
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Dividend yield
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3.5
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%
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3.4
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%
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3.6
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%
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Volatility factor
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0.18
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0.17
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0.18
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Expected option life in years
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6.1
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6.1
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6.1
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Weighted-average grant-date
fair value of stock options granted (per share)
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$
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8.87
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$
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6.47
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$
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5.74
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Year ended May 31,
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2019
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2018
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2017
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Performance stock options
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Risk-free interest rate
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2.9
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%
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2.4
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%
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1.3
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%
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Dividend yield
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3.5
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%
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3.3
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%
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3.6
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%
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Volatility factor
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0.18
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0.18
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0.18
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Expected option life in years
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6.5
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6.5
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6.5
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Weighted-average grant-date
fair value of stock options granted (per share)
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$
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9.02
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$
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7.45
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$
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5.97
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| Stock Option Activity |
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Weighted-
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Weighted-
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average
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Shares
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average
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remaining
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Aggregate
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subject
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exercise price
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contractual
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intrinsic
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In millions, except per share amounts
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to options
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per share
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term (years)
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value(1)
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Outstanding as of May 31, 2018
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4.4
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$
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44.60
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Granted
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0.6
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$
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69.71
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Exercised
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(0.7)
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$
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36.73
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Forfeited
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—
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$
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61.31
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Expired
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—
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$
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31.00
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Outstanding as of May 31, 2019
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4.3
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$
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49.23
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5.9
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$
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157.1
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Exercisable as of May 31, 2019
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2.9
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$
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42.83
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4.8
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$
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123.2
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(1)
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Total shares valued at the market price of the underlying stock as of May 31, 2019 less the exercise price.
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| Other Information Pertaining to Stock Option |
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Year ended May 31,
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In millions
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2019
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2018
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2017
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Total intrinsic value of stock options exercised
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$
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25.7
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$
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9.1
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$
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23.8
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Total grant-date fair value of stock options vested
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$
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4.3
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$
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4.0
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$
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4.1
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| RSU Activity |
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Weighted-
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Weighted-
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average
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average
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remaining
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grant-date
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vesting
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Aggregate
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fair value
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period
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intrinsic
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In millions, except per share amounts
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RSUs
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per share
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(years)
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value(1)
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Nonvested as of May 31, 2018
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1.1
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$
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48.79
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Granted
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0.5
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$
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62.20
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Vested
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—
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$
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48.28
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Forfeited
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(0.1)
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$
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52.68
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Nonvested as of May 31, 2019
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1.5
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$
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53.45
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2.9
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$
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127.0
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(1)
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Intrinsic value for RSUs is based on the market price of the underlying stock as of May 31, 2019.
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| Other Information Pertaining to RSUs |
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Year ended May 31,
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In millions, except per share amounts
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2019
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2018
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2017
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Weighted-average grant-date fair value per share of RSUs granted
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$
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62.20
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$
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51.15
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$
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53.76
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Total intrinsic value of RSUs vested
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$
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1.2
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$
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60.9
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$
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32.3
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Total grant-date fair value of RSUs vested
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$
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0.8
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$
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42.4
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$
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19.3
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| Restricted Stock Activity |
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Weighted-
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average
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grant-date
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Restricted
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fair value
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In millions, except per share amounts
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shares
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per share
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Nonvested as of May 31, 2018
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0.1
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$
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56.89
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Granted
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0.1
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$
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69.80
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Vested
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(0.1)
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$
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55.50
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Forfeited
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—
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$
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69.54
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Nonvested as of May 31, 2019
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0.1
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$
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64.32
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| Other Information Pertaining to Restricted Stock |
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Year ended May 31,
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In millions, except per share amounts
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2019
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2018
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2017
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Weighted-average grant-date fair value per share of restricted stock granted
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$
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69.80
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$
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57.50
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$
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60.83
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Total grant-date fair value of restricted stock vested
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$
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3.0
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$
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3.0
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$
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3.0
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| Performance Share Activity |
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Weighted-
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average
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grant-date
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Performance
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fair value
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In millions, except per share amounts
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shares
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per share
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Nonvested as of May 31, 2018
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0.4
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$
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51.53
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Granted (1)
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0.1
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$
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65.17
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Vested
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(0.1)
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$
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44.53
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Forfeited
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—
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$
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58.86
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Nonvested as of May 31, 2019
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0.4
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$
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58.09
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(1)
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Performance shares granted assuming achievement of performance goals at target. Actual amount of shares to be earned may differ from this amount.
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| Other Information Pertaining to Performance Shares |
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Year ended May 31,
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In millions, except per share amounts
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2019
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2018
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2017
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Weighted-average grant-date fair value per share of performance shares granted
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$
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65.17
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$
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53.08
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$
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54.97
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Total grant-date fair value of performance shares vested
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$
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5.3
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$
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6.6
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$
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7.8
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| Performance Stock Options [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
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| Stock Option Activity |
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Weighted-
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Weighted-
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average
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Shares
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average
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remaining
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Aggregate
|
|
|
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subject
|
|
exercise price
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contractual
|
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intrinsic
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In millions, except per share amounts
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to options
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per share
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term (years)
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|
value(1)
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Outstanding as of May 31, 2018
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2.1
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$
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49.26
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Granted(2)
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0.1
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$
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69.54
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Exercised
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(0.2)
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$
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33.80
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Forfeited
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(0.1)
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$
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61.37
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Expired
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—
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$
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—
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Outstanding as of May 31, 2019
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1.9
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$
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51.09
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5.5
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$
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66.5
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Exercisable as of May 31, 2019
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0.6
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$
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31.45
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2.1
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$
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35.3
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(1)
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Shares valued at the market price of the underlying stock as of May 31, 2019 less the exercise price.
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(2)
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LTIP performance stock options granted assumes achievement of performance goals at target. Actual amount of shares to be earned may differ from this amount.
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| Other Information Pertaining to Stock Option |
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Year ended May 31,
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In millions
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2019
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2018
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2017
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Total intrinsic value of stock options exercised
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$
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8.2
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$
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7.9
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$
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12.4
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Total grant-date fair value of stock options vested
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$
|
—
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$
|
—
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$
|
4.9
|
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| Performance-Based Restricted Stock [Member] |
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| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
|
| Restricted Stock Activity |
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Weighted-
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average
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grant-date
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Restricted
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fair value
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In millions, except per share amounts
|
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shares
|
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per share
|
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Nonvested as of May 31, 2018
|
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0.2
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$
|
53.86
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Granted(1)
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—
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$
|
65.17
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Vested
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—
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$
|
—
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Forfeited
|
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—
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$
|
56.03
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Nonvested as of May 31, 2019
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0.2
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$
|
54.31
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(1)
|
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LTIP performance shares granted assumes achievement of performance goals at target. Actual amount of shares to be earned may differ from this amount.
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