Annual report pursuant to Section 13 and 15(d)

Stock-Based Compensation Plans (Tables)

v3.19.2
Stock-Based Compensation Plans (Tables)
12 Months Ended
May 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Weighted-Average Assumptions





 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Year ended May 31,



2019

 

2018

 

2017



Stock options

Risk-free interest rate

 

2.9 

%

 

 

2.1 

%

 

 

1.2 

%

Dividend yield

 

3.5 

%

 

 

3.4 

%

 

 

3.6 

%

Volatility factor

 

0.18 

 

 

 

0.17 

 

 

 

0.18 

 

Expected option life in years

 

6.1 

 

 

 

6.1 

 

 

 

6.1 

 

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

$

8.87 

 

 

$

6.47 

 

 

$

5.74 

 









 

 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 

 



Year ended May 31,



2019

 

2018

 

2017



Performance stock options

Risk-free interest rate

 

2.9 

%

 

 

2.4 

%

 

 

1.3 

%

Dividend yield

 

3.5 

%

 

 

3.3 

%

 

 

3.6 

%

Volatility factor

 

0.18 

 

 

 

0.18 

 

 

 

0.18 

 

Expected option life in years

 

6.5 

 

 

 

6.5 

 

 

 

6.5 

 

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

$

9.02 

 

 

$

7.45 

 

 

$

5.97 

 



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, 2018

 

4.4 

 

$

44.60 

 

 

 

 

 

Granted

 

0.6 

 

$

69.71 

 

 

 

 

 

Exercised

 

(0.7)

 

$

36.73 

 

 

 

 

 

Forfeited

 

 —

 

$

61.31 

 

 

 

 

 

Expired

 

 —

 

$

31.00 

 

 

 

 

 

Outstanding as of May 31, 2019

 

4.3 

 

$

49.23 

 

5.9 

 

$

157.1 

Exercisable as of May 31, 2019

 

2.9 

 

$

42.83 

 

4.8 

 

$

123.2 



(1)

Total shares valued at the market price of the underlying stock as of May 31, 2019 less the exercise price.



Other Information Pertaining to Stock Option



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended May 31,

In millions

 

2019

 

2018

 

2017

Total intrinsic value of stock options exercised

 

$

25.7 

 

$

9.1 

 

$

23.8 

Total grant-date fair value of stock options vested

 

$

4.3 

 

$

4.0 

 

$

4.1 



RSU Activity



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

Weighted-

 

 

 



 

 

 

Weighted-

 

average

 

 

 



 

 

 

average

 

remaining

 

 

 



 

 

 

grant-date

 

vesting

 

Aggregate



 

 

 

fair value

 

period

 

 intrinsic

In millions, except per share amounts

 

RSUs

 

per share

 

(years)

 

value(1)

Nonvested as of May 31, 2018

 

1.1 

 

$

48.79 

 

 

 

 

 

Granted

 

0.5 

 

$

62.20 

 

 

 

 

 

Vested

 

 —

 

$

48.28 

 

 

 

 

 

Forfeited

 

(0.1)

 

$

52.68 

 

 

 

 

 

Nonvested as of May 31, 2019

 

1.5 

 

$

53.45 

 

2.9 

 

$

127.0 



(1)

Intrinsic value for RSUs is based on the market price of the underlying stock as of May 31, 2019.



Other Information Pertaining to RSUs



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended May 31,

In millions, except per share amounts

 

2019

 

2018

 

2017

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

 

$

62.20 

 

$

51.15 

 

$

53.76 

Total intrinsic value of RSUs vested

 

$

1.2 

 

$

60.9 

 

$

32.3 

Total grant-date fair value of RSUs vested

 

$

0.8 

 

$

42.4 

 

$

19.3 



Restricted Stock Activity



 

 

 

 

 



 

 

 

 

 



 

 

 

Weighted-



 

 

 

average



 

 

 

grant-date



 

Restricted

 

fair value

In millions, except per share amounts

 

shares

 

per share

Nonvested as of May 31, 2018

 

0.1 

 

$

56.89 

Granted

 

0.1 

 

$

69.80 

Vested

 

(0.1)

 

$

55.50 

Forfeited

 

 —

 

$

69.54 

Nonvested as of May 31, 2019

 

0.1 

 

$

64.32 



Other Information Pertaining to Restricted Stock



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended May 31,

In millions, except per share amounts

 

2019

 

2018

 

2017

Weighted-average grant-date fair value per share of restricted stock granted

 

$

69.80 

 

$

57.50 

 

$

60.83 

Total grant-date fair value of restricted stock vested

 

$

3.0 

 

$

3.0 

 

$

3.0 



Performance Share Activity





 

 

 

 

 



 

 

 

 

 



 

 

 

Weighted-



 

 

 

average



 

 

 

grant-date



 

Performance

 

fair value

In millions, except per share amounts

 

shares

 

per share

Nonvested as of May 31, 2018

 

0.4 

 

$

51.53 

Granted (1)

 

0.1 

 

$

65.17 

Vested

 

(0.1)

 

$

44.53 

Forfeited

 

 —

 

$

58.86 

Nonvested as of May 31, 2019

 

0.4 

 

$

58.09 



(1)

Performance shares granted assuming achievement of performance goals at target. Actual amount of shares to be earned may differ from this amount.

Other Information Pertaining to Performance Shares



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended May 31,

In millions, except per share amounts

 

2019

 

2018

 

2017

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

 

$

65.17 

 

$

53.08 

 

$

54.97 

Total grant-date fair value of performance shares vested

 

$

5.3 

 

$

6.6 

 

$

7.8 



Performance 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, 2018

 

2.1 

 

$

49.26 

 

 

 

 

 

Granted(2)

 

0.1 

 

$

69.54 

 

 

 

 

 

Exercised

 

(0.2)

 

$

33.80 

 

 

 

 

 

Forfeited

 

(0.1)

 

$

61.37 

 

 

 

 

 

Expired

 

 —

 

$

 —

 

 

 

 

 

Outstanding as of May 31, 2019

 

1.9 

 

$

51.09 

 

5.5 

 

$

66.5 

Exercisable as of May 31, 2019

 

0.6 

 

$

31.45 

 

2.1 

 

$

35.3 



(1)

Shares valued at the market price of the underlying stock as of May 31, 2019 less the exercise price.

(2)

LTIP performance stock options granted assumes achievement of performance goals at target.  Actual amount of shares to be earned may differ from this amount.

Other Information Pertaining to Stock Option



 

 

 

 

 

 

 

 

 



 

 

 

 

 

 

 

 

 



 

Year ended May 31,

In millions

 

2019

 

2018

 

2017

Total intrinsic value of stock options exercised

 

$

8.2 

 

$

7.9 

 

$

12.4 

Total grant-date fair value of stock options vested

 

$

 —

 

$

 —

 

$

4.9 



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





 

 

 

 

 



 

 

 

 

 



 

 

 

Weighted-



 

 

 

average



 

 

 

grant-date



 

Restricted

 

fair value

In millions, except per share amounts

 

shares

 

per share

Nonvested as of May 31, 2018

 

0.2 

 

$

53.86 

Granted(1)

 

 —

 

$

65.17 

Vested

 

 —

 

$

 —

Forfeited

 

 —

 

$

56.03 

Nonvested as of May 31, 2019

 

0.2 

 

$

54.31 

(1)

LTIP performance shares granted assumes achievement of performance goals at target.  Actual amount of shares to be earned may differ from this amount.