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Employee Benefit and Stock Plans (Tables)

12 Months Ended

Nov. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock Based Compensation Expense

The following table presents our stock-based compensation expense (in thousands):

	Years Ended November 30,
	2016				2015				2014
Stock options (a)	$	7,076			$	7,576			$	3,024
Restricted stock	2,630				2,499				1,750
PSUs	5,343				5,404				3,699
Director awards	1,801				1,664				(91		)
Total	$	16,850			$	17,143			$	8,382

(a) Compensation expense associated with stock options was accelerated in 2015 as a result of retirement provisions being met for certain stock option recipients.

Stock option transactions

Stock option transactions are summarized as follows:

	Years Ended November 30,
	2016							2015							2014
	Options			Weighted Average Exercise Price				Options			Weighted Average Exercise Price				Options			Weighted Average Exercise Price
Options outstanding at beginning of year	12,635,644			$	19.39			11,735,042			$	20.45			10,531,938			$	21.11
Granted	1,012,686			16.21				1,262,000			14.92				1,273,647			14.62
Exercised	(551,898	)		13.95				(76,164	)		9.69				(36,665	)		7.92
Cancelled	(364,887	)		34.07				(285,234	)		45.80				(33,878	)		20.25
Options outstanding at end of year	12,731,545			$	18.95			12,635,644			$	19.39			11,735,042			$	20.45
Options exercisable at end of year	10,506,810			$	19.70			10,389,722			$	20.35			10,103,739			$	21.32
Options available for grant at end of year	7,034,523							1,554,195							3,514,077

Stock options outstanding and stock options exercisable

Stock options outstanding and stock options exercisable at November 30, 2016 are summarized as follows:

		Options Outstanding										Options Exercisable
Range of Exercise Price		Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life			Options			Weighted Average Exercise Price				Weighted Average Remaining Contractual Life
$  6.32 to $11.06		2,771,667			$	8.33			4.3			2,771,667			$	8.33
$11.07 to $14.95		2,595,011			14.60				8.1			1,370,933			14.41
$14.96 to $16.69		2,668,775			15.94				6.2			1,668,118			15.78
$16.70 to $28.10		2,609,550			23.24				1.2			2,609,550			23.24
$28.11 to $69.63		2,086,542			36.97				1.9			2,086,542			36.97
$  6.32 to $69.63		12,731,545			$	18.95			4.4			10,506,810			$	19.70			3.5

Assumptions of Black-Scholes option-pricing model

The fair value of each stock option grant is estimated on the date of grant using the Black-Scholes option-pricing model with the following assumptions:

	Years Ended November 30,
	2016			2015			2014
Risk-free interest rate	1.3	%		1.4	%		1.6	%
Expected volatility factor	41.3	%		43.6	%		41.0	%
Expected dividend yield	.6	%		.7	%		.7	%
Expected term	5 years			5 years			5 years

Restricted stock transactions

Restricted stock transactions are summarized as follows:

	Years Ended November 30,
	2016							2015							2014
	Shares			Weighted Average per Share Grant Date Fair Value				Shares			Weighted Average per Share Grant Date Fair Value				Shares			Weighted Average per Share Grant Date Fair Value
Outstanding at beginning of year	416,977			$	15.88			355,294			$	15.81			219,628			$	16.23
Granted	453,703			15.73				285,006			15.19				219,835			15.34
Vested	(252,854	)		14.78				(204,663	)		14.83				(73,908	)		16.52
Cancelled	(13,207	)		15.12				(18,660	)		15.45				(10,261	)		18.55
Outstanding at end of year	604,619			$	16.24			416,977			$	15.88			355,294			$	15.81

Schedule of Share Based Payments Performance Shares Activity

PSU transactions are summarized as follows:

	Years Ended November 30,
	2016							2015							2014
	Shares			Weighted Average per Share Grant Date Fair Value				Shares			Weighted Average per Share Grant Date Fair Value				Shares			Weighted Average per Share Grant Date Fair Value
Outstanding at beginning of year	820,209			$	15.52			628,209			$	15.70			385,049			$	16.39
Granted	369,281			13.81				192,000			14.92				243,160			14.62
Vested	(374,630	)		10.21				—			—				—			—
Cancelled	(5,000	)		16.21				—			—				—			—
Outstanding at end of year	809,860			$	17.19			820,209			$	15.52			628,209			$	15.70

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Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901

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Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year.

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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

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Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year.

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Tabular disclosure of the number and weighted-average grant date fair value for outstanding performance shares.

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