Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Plans (Tables)

v3.20.2
Stock-Based Compensation Plans (Tables)
12 Months Ended
May 31, 2020
Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted-Average Assumptions

Year ended May 31,

2020

2019

2018

Stock options

Risk-free interest rate

2.0

%

2.9

%

2.1

%

Dividend yield

3.3

%

3.5

%

3.4

%

Volatility factor

0.18

0.18

0.17

Expected option life in years

6.2

6.1

6.1

Weighted-average grant-date
  fair value of stock options granted (per share)

$

9.86

$

8.87

$

6.47

Stock Option Activity

Weighted-

Weighted-

average

Shares

average

remaining

Aggregate

 subject

exercise price

contractual

 intrinsic

In millions, except per share amounts

to options

per share

term (years)

value(1)

Outstanding as of May 31, 2019

4.3

$

49.23

Granted

0.6

$

85.22

Exercised

(0.5)

$

44.24

Forfeited

$

72.17

Expired

$

33.34

Outstanding as of May 31, 2020

4.4

$

55.02

5.6

$

83.7

Exercisable as of May 31, 2020

3.1

$

46.73

4.5

$

78.1

(1)Total shares valued at the market price of the underlying stock as of May 31, 2020 less the exercise price.

Other Information Pertaining to Stock Option

Year ended May 31,

In millions

2020

2019

2018

Total intrinsic value of stock options exercised

$

22.0

$

25.7

$

9.1

Total grant-date fair value of stock options vested

$

5.0

$

4.3

$

4.0

Performance Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted-Average Assumptions

Year ended May 31,

2019

2018

Performance-based stock options

Risk-free interest rate

2.9

%

2.4

%

Dividend yield

3.5

%

3.3

%

Volatility factor

0.18

0.18

Expected option life in years

6.5

6.5

Weighted-average grant-date
  fair value of stock options granted (per share)

$

9.02

$

7.45

Time Based And Performance Based Restricted Stock Units [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
RSU Activity

Weighted-

Weighted-

average

average

Time-

grant-date

Performance-

grant-date

Based

fair value

based

fair value

In millions, except per share amounts

RSUs

per share

RSUs

per share

Nonvested as of May 31, 2019

1.5

$

53.45

$

Granted (1)

0.5

$

73.28

0.1

$

80.59

Vested

(0.5)

$

49.49

$

Forfeited

(0.1)

$

60.26

$

Nonvested as of May 31, 2020

1.4

$

61.60

0.1

$

80.59

(1)For performance-based RSUs, granted number assumes achievement of performance goals at target. Actual number of shares to be earned may differ from this amount.

Other Information Pertaining to RSUs

Year ended May 31,

In millions, except per share amounts

2020

2019

2018

Time-based RSUs:

Weighted-average grant-date fair value per share of RSUs granted

$

73.28

$

62.20

$

51.15

Weighted-average remaining vesting period (years)

2.9

2.9

3.2

Total intrinsic value of RSUs vested

$

40.0

$

1.2

$

60.9

Aggregate intrinsic value of nonvested RSUs (1)

$

99.9

$

127.0

$

69.2

Total grant-date fair value of RSUs vested

$

23.6

$

0.8

$

42.4

Performance-based RSUs(2):

Weighted-average grant-date fair value per share of RSUs granted

$

80.59

$

$

Weighted-average remaining vesting period (years)

2.1

Total intrinsic value of RSUs vested

$

$

$

Aggregate intrinsic value of nonvested RSUs (1)

$

4.4

$

$

Total grant-date fair value of RSUs vested

$

$

$

(1)Based on the market price of the underlying common stock as of May 31, 2020, 2019 and 2018.

(2)No performance-based RSUs were granted during fiscal 2019 and fiscal 2018.

Time-Based And Performance-Based Restricted Stock Awards [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Restricted Stock Awards Activity

Weighted-

Weighted-

average

average

grant-date

Performance-

grant-date

Time-based

fair value

based

fair value

In millions, except per share amounts

shares

per share

shares

per share

Nonvested as of May 31, 2019

0.1

$

64.32

0.4

$

58.09

Granted (1)

0.1

$

84.46

$

80.59

Vested

(0.1)

$

63.63

(0.1)

$

56.97

Forfeited

$

73.82

$

63.07

Nonvested as of May 31, 2020

0.1

$

73.20

0.3

$

61.97

(1)For performance-based shares, granted number assumes achievement of performance goals at target. Actual number of shares to be earned may differ from this amount.

Other Information Pertaining to Restricted Stock Awards

Year ended May 31,

In millions, except per share amounts

2020

2019

2018

Weighted-average grant-date fair value per share of time-based shares granted

$

84.46

$

69.80

$

57.50

Total grant-date fair value of time-based restricted stock vested

$

3.2

$

3.0

$

3.0

Weighted-average grant-date fair value per share of performance-based shares granted

$

80.59

$

65.17

$

53.08

Total grant-date fair value of performance-based restricted stock vested

$

5.8

$

5.3

$

6.6

LTIP Performance-Based Stock Options [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Stock Option Activity

Weighted-

Weighted-

average

Shares

average

remaining

Aggregate

 subject

exercise price

contractual

 intrinsic

In millions, except per share amounts

to options

per share

term (years)

value(1)

Outstanding as of May 31, 2019

1.9

$

51.09

Granted

$

Exercised

(0.5)

$

31.35

Forfeited

(0.1)

$

63.17

Expired

$

Outstanding as of May 31, 2020

1.3

$

56.13

5.3

$

21.8

Exercisable as of May 31, 2020

0.2

$

31.63

1.1

$

9.0

(1)Shares valued at the market price of the underlying stock as of May 31, 2020 less the exercise price.

Other Information Pertaining to Stock Option

Year ended May 31,

In millions

2020

2019

2018

Total intrinsic value of stock options exercised

$

23.0

$

8.2

$

7.9

LTIP Performance-Based Restricted Stock [Member]  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Restricted Stock Awards Activity

Weighted-

average grant

Restricted

date fair value

In millions, except per share amounts

shares

per share

Nonvested as of May 31, 2019

0.2

$

54.31

Granted

$

Exercised

$

Forfeited

(0.1)

$

56.97

Expired

$

Nonvested as of May 31, 2020

0.1

$

53.97