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EQUITY COMPENSATION PLANS (Tables)
6 Months Ended
Nov. 30, 2012
Stock Option Activity

A summary of stock option activity during the six months ended November 30, 2012 follows:

 

     Shares     Weighted-
Average
Exercise Price
 

Options outstanding at June 1, 2012

     1,543,000      $ 22.34   

Granted

     306,000        43.00   

Exercised

     (235,000     14.43   

Forfeited

     (16,000     27.69   
  

 

 

   

Options outstanding at November 30, 2012

     1,598,000        27.51   
Fair Value of Stock Options Granted, Estimated using Weighted-Average Assumptions

The fair value of stock options granted was estimated using the following weighted-average assumptions.

 

     FY-13     FY-12  

Risk-free interest rate

     1.2     1.2

Expected dividend yield

     0     0

Expected stock price volatility

     39.2     36.4

Expected option life

     4.0 years        4.0 years