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 |
|