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Stock-Based Compensation (Tables)

12 Months Ended

Nov. 30, 2023

Share-Based Payment Arrangement [Abstract]

Summary Of RSU Activity

A summary of our RSU activity for the years ended November 30 follows:

(shares in thousands)			2023						2022						2021
			Shares			Weighted-     average     price			Shares			Weighted- average price			Shares			Weighted- average price
Beginning of year			480			$	77.62		563			$	69.52		714			$	61.74
Granted			264			77.53			208			94.21			219			86.86
Vested			(225)			78.16			(251)			71.86			(336)			63.69
Forfeited			(25)			85.21			(40)			85.42			(34)			75.49
Outstanding—end of year			494			$	76.94		480			$	77.62		563			$	69.52

Assumptions Of Stock Compensation Plans

These fair values were computed using the following range of assumptions for the years ended November 30:

			2023			2022			2021
Risk-free interest rates			3.5 - 4.9%			0.2 - 2.5%			0.0 - 1.8%
Dividend yield			1.9		%	1.5		%	1.5		%
Expected volatility			21.8		%	21.2		%	21.3		%
Expected lives			7.3 years			7.6 years			7.9 years

Summary Of Stock Option Activity

A summary of our stock option activity for the years ended November 30 follows:

(shares in millions)			2023						2022						2021
			Shares			Weighted-     average     exercise     price			Shares			Weighted- average exercise price			Shares			Weighted- average exercise price
Beginning of year			4.8			$	67.08		5.0			$	59.71		4.5			$	53.56
Granted			0.9			81.79			0.7			97.26			0.8			89.16
Exercised			(0.3)			47.86			(0.8)			47.58			(0.3)			45.93
Forfeited			(0.1)			87.11			(0.1)			88.40			—			—
Outstanding—end of year			5.3			70.43			4.8			67.08			5.0			59.71
Exercisable—end of year			4.0			$	64.74		3.5			$	58.03		3.6			$	51.51

These fair values were computed using the following range of assumptions:

Risk-free interest rates			0.85		%
Dividend yield			1.5		%
Expected volatility			21.2		%
Expected lives			5.6 - 6.2 years

The following is a summary of our Price-Vested Stock Options activity for the years ended November 30:

(shares in thousands)			2023						2022						2021
			Number of Shares			Weighted- Average Grant-Date Fair Value			Number of Shares			Weighted- Average Grant-Date Fair Value			Number of Shares			Weighted- Average Grant-Date Fair Value
Beginning of year			2,107			$	9.40		2,193			$	9.40		2,482			$	9.40
Granted			—			—			—			—			15			9.66
Forfeited			(52)			9.40			(86)			9.40			(304)			9.41
Outstanding—end of year			2,055			$	9.40		2,107			$	9.40		2,193			$	9.40

As of November 30, 2023, 2022, and 2021, the outstanding options are divided equally between the three appreciation thresholds.

Summary Of Our Stock Options Outstanding And Exercisable

A summary of our stock options outstanding and exercisable at November 30, 2023 follows:

(shares in millions)			Options outstanding									Options exercisable
Range of exercise price			Shares			Weighted- average remaining life (yrs.)			Weighted- average exercise price			Shares			Weighted- average remaining life (yrs.)			Weighted-   average   exercise   price
$35.00 - $56.00			2.0			2.95			$	48.50		2.0			2.95			$	48.50
$56.01 - $77.00			1.0			5.89			71.26			1.0			5.89			71.26
$77.01 - $98.00			2.3			8.38			88.76			1.0			7.82			91.21
			5.3			5.88			$	70.43		4.0			5.64			$	64.74

Schedule of Long-term Performance Plan Activity

A summary of the LTPP award activity for the years ended November 30 follows:

(shares in thousands)			2023						2022						2021
			Shares			Weighted-     average     price			Shares			Weighted- average price			Shares			Weighted- average price
Beginning of year			451			$	106.32		497			$	83.74		382			$	71.20
Granted			167			89.00			152			95.00			141			98.30
Vested			(176)			86.14			(251)			75.26			(124)			51.73
Performance adjustment			61			98.30			59			86.14			126			75.26
Forfeited			(29)			92.31			(6)			95.37			(28)			90.32
Outstanding—end of year			474			$	94.34		451			$	106.32		497			$	83.74

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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.

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