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Stock-based Compensation | 3 Months Ended
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Feb. 29, 2020
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] |
Stock-Based Compensation | STOCK-BASED COMPENSATION We have three types of stock-based compensation awards: restricted stock units ("RSUs"), stock options and company stock awarded as part of our long-term performance plan ("LTPP"). The following table sets forth the stock-based compensation expense recorded in selling, general and administrative ("SG&A") expense for the three months ended February 29, 2020 and February 28, 2019 (in millions):
| 2020 |  | 2019 |  |  |  |
Stock-based compensation expense | $ | 6.4 |  |  | $ | 6.7 |  |  |  |  |
Our 2020 annual grant of stock options and RSUs is expected to occur in the second quarter, similar to the 2019 annual grant.
The following is a summary of our stock option activity for the three months ended February 29, 2020 and February 28, 2019:
| 2020 |  |  |  | 2019 |  |
(shares in millions) | Number of Shares |  | Weighted- Average Exercise Price |  | Number of Shares |  | Weighted- Average Exercise Price
Outstanding at beginning of period | 2.6 |  |  | $ | 96.18 |  |  | 3.6 |  |  | $ | 82.60 |
Exercised | (0.1) |  |  | 70.38 |  |  | (0.1) |  |  | 63.07 |
Outstanding at end of the period | 2.5 |  |  | $ | 96.94 |  |  | 3.5 |  |  | $ | 83.04 |
Exercisable at end of the period | 1.8 |  |  | $ | 87.45 |  |  | 2.7 |  |  | $ | 77.11 |
As of February 29, 2020, the intrinsic value (the difference between the exercise price and the market price) for all options outstanding was $123.2 million and for options currently exercisable was $107.1 million. The total intrinsic value of all options exercised during the three months ended February 29, 2020 and February 28, 2019 was $8.6 million and $5.9 million, respectively. The following is a summary of our RSU activity for the three months ended February 29, 2020 and February 28, 2019:
| 2020 |  |  |  | 2019 |  |
(shares in thousands) | Number of Shares |  | Weighted- Average Grant-Date Fair Value |  | Number of Shares |  | Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period | 381 |  |  | $ | 115.89 |  |  | 423 |  |  | $ | 103.05 |
Vested | (4) |  |  | 70.01 |  |  | (3) |  |  | 95.64 |
Forfeited | (5) |  |  | 120.43 |  |  | (2) |  |  | 99.36 |
Outstanding at end of period | 372 |  |  | $ | 116.39 |  |  | 418 |  |  | $ | 103.12 |
The following is a summary of our LTPP activity for the three months ended February 29, 2020 and February 28, 2019:
| 2020 |  |  |  | 2019 |  |
(shares in thousands) | Number of Shares |  | Weighted- Average Grant-Date Fair Value |  | Number of Shares |  | Weighted- Average Grant-Date Fair Value
Outstanding at beginning of period | 196 |  |  | $ | 115.96 |  |  | 218 |  |  | $ | 83.55 |
Granted | 65 |  |  | 168.73 |  |  | 102 |  |  | 150.51 |
Vested | (44) |  |  | 89.96 |  |  | (57) |  |  | 86.40 |
Forfeited | (1) |  |  | 136.95 |  |  | — |  |  | — |
Outstanding at end of period | 216 |  |  | $ | 137.04 |  |  | 263 |  |  | $ | 117.14 |

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -URI http://asc.fasb.org/topic&trid=2228938 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -URI http://asc.fasb.org/subtopic&trid=2208855 + Details
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