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Stock-Based Compensation (Tables) | 12 Months Ended
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May 31, 2022
Share-Based Payment Arrangement, Noncash Expense [Abstract] |
Assumptions Used to Determine Fair Value of Options | The fair value of options was estimated at the date of grant using a Black-Scholes option-pricing model with the following assumptions for the fiscal years ended May 31:
| 2022 |  | 2021 |  | 2020
Risk-free interest rate | 0.8 | % |  | 0.4 | % |  | 1.9 | %
Dividend yield | 1.2 | % |  | 1.1 | % |  | 1.1 | %
Expected volatility of Cintas' common stock | 25.2 | % |  | 23.5 | % |  | 19.0 | %
Expected life of the option in years | 5.5 |  | 5.5 |  | 6.0
Stock Options Granted and Outstanding | The information presented in the following table relates primarily to stock options granted and outstanding under either the 2016 Plan or under previously adopted plans:
| Shares |  | Weighted Average Exercise Price
Outstanding, June 1, 2019 (1,919,976 shares exercisable) | 8,208,934 |  |  | $ | 123.80 |
Granted | 575,813 |  |  | 250.50 |
Canceled | (5,432) |  |  | 72.17 |
Forfeited | (312,391) |  |  | 185.08 |
Exercised | (1,361,525) |  |  | 70.03 |
Outstanding, May 31, 2020 (1,913,374 shares exercisable) | 7,105,399 |  |  | 145.54 |
Granted | 747,550 |  |  | 348.24 |
Canceled | (1,452) |  |  | 59.51 |
Forfeited | (91,722) |  |  | 193.94 |
Exercised | (1,704,251) |  |  | 83.31 |
Outstanding, May 31, 2021 (1,548,867 shares exercisable) | 6,055,524 |  |  | 191.11 |
Granted | 531,963 |  |  | 398.92 |
Canceled | (877) |  |  | 116.25 |
Forfeited | (260,249) |  |  | 273.53 |
Exercised | (1,238,959) |  |  | 118.21 |
Outstanding, May 31, 2022 (1,575,999 shares exercisable) | 5,087,402 |  |  | $ | 230.62 |
Summary of Information Related to Stock Options Outstanding | The following table summarizes the information related to stock options outstanding at May 31, 2022:
|  |  | Outstanding Options |  | Exercisable Options
Range of Exercise Prices | Number Outstanding |  | Average Remaining Option Life |  | Weighted Average Exercise Price |  | Number Exercisable |  | Weighted Average Exercise Price
$28.14 - $108.39 | 937,222 |  | 3.00 |  | $ | 84.16 |  |  | 937,222 |  |  | $ | 84.16 |
$108.40 - $204.48 | 930,495 |  | 5.35 |  | 144.96 |  |  | 431,699 |  |  | 140.83 |
$204.49 - $260.79 | 1,571,534 |  | 6.63 |  | 230.68 |  |  | 185,277 |  |  | 208.50 |
$260.80 - $433.10 | 1,648,151 |  | 9.08 |  | 362.20 |  |  | 21,801 |  |  | 297.34 |
$28.14 - $433.10 | 5,087,402 |  | 6.52 |  | $ | 230.62 |  |  | 1,575,999 |  |  | $ | 117.25 |
Restricted Stock Awards Granted and Outstanding | The information presented in the following table relates to restricted stock awards granted and outstanding under either the 2016 Plan or under previously adopted plans:
| Shares |  | Weighted Average Grant Price
Outstanding, unvested grants at June 1, 2019 | 2,191,688 |  |  | $ | 149.12 |
Granted | 228,292 |  |  | 248.39 |
Forfeited | (135,934) |  |  | 208.37 |
Vested | (658,831) |  |  | 113.93 |
Outstanding, unvested grants at May 31, 2020 | 1,625,215 |  |  | 199.73 |
Granted | 274,843 |  |  | 352.68 |
Forfeited | (48,586) |  |  | 241.95 |
Vested | (610,249) |  |  | 147.32 |
Outstanding, unvested grants at May 31, 2021 | 1,241,223 |  |  | 264.63 |
Granted | 189,874 |  |  | 398.30 |
Forfeited | (66,589) |  |  | 323.00 |
Vested | (527,899) |  |  | 213.36 |
Outstanding, unvested grants at May 31, 2022 | 836,609 |  |  | $ | 331.95 |

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- Definition Tabular disclosure of activity for award under share-based payment arrangement. Includes, but is not limited to, outstanding award at beginning and end of year, granted, exercised, forfeited, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of employee stock purchase plans, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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