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Equity Compensation Plans (Tables) | 12 Months Ended
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May. 31, 2015
Stock Option Activity | Qualified and non-qualified options to purchase shares of common stock may be granted to directors, officers and employees of the Company under the terms of the Company’s stock option plans. These options are granted at an exercise price of not less than the fair market value of the stock on the date of grant. Remaining shares available for grant under stock option plans were 306,000, 805,000 and 1,227,000 at May 31, 2015, 2014 and 2013, respectively. Options vest ratably over three and five year periods and the contractual terms are generally five or ten years.
(Shares in thousands) |  | Shares |  |  | Weighted-Average Exercise Price |  |  | Weighted-Average Grant Date Fair Value |
Outstanding at May 31, 2012 (863 exercisable) |  |  | 2,314 |  |  | $ | 14.89 |  |  | $ | 4.63 |
Granted |  |  | 459 |  |  |  | 28.67 |  |  |  | 9.21 |
Exercised |  |  | (657 | ) |  |  | 10.61 |  |  |  | 3.43 |
Forfeited |  |  | (24 | ) |  |  | 19.67 |  |  |  | 6.07 |
Outstanding at May 31, 2013 (749 exercisable) |  |  | 2,092 |  |  |  | 19.21 |  |  |  | 6.00 |
Granted |  |  | 512 |  |  |  | 36.44 |  |  |  | 9.87 |
Exercised |  |  | (643 | ) |  |  | 13.69 |  |  |  | 4.28 |
Forfeited |  |  | (92 | ) |  |  | 22.08 |  |  |  | 6.65 |
Outstanding at May 31, 2014 (577 exercisable) |  |  | 1,869 |  |  |  | 25.69 |  |  |  | 7.62 |
Granted |  |  | 536 |  |  |  | 39.79 |  |  |  | 11.91 |
Exercised |  |  | (380 | ) |  |  | 16.69 |  |  |  | 5.17 |
Forfeited |  |  | (37 | ) |  |  | 33.55 |  |  |  | 9.45 |
Outstanding at May 31, 2015 (639 exercisable) |  |  | 1,988 |  |  |  | 31.04 |  |  |  | 9.20 |
Summary of Stock Options Outstanding | The following is a summary of stock options outstanding at May 31, 2015:
(Options in thousands) |  |  |  |  |  |
|  | Options Outstanding |  |  | Options Exercisable |
Range of Exercise price |  | Number |  |  | Average Remaining Contractual Life (in years) |  |  | Weighted-Average Exercise Price |  |  | Number |  |  | Weighted Average Exercise Price |
$ 5.45 - $ 22.91 |  |  | 261 |  |  |  | 2.4 |  |  | $ | 17.10 |  |  |  | 198 |  |  | $ | 16.58 |
22.92 - 28.26 |  |  | 321 |  |  |  | 1.8 |  |  |  | 23.17 |  |  |  | 184 |  |  |  | 23.22 |
28.27 - 32.37 |  |  | 411 |  |  |  | 3.0 |  |  |  | 28.67 |  |  |  | 164 |  |  |  | 28.67 |
32.38 - 38.03 |  |  | 432 |  |  |  | 3.6 |  |  |  | 36.07 |  |  |  | 81 |  |  |  | 36.07 |
38.04 - 43.67 |  |  | 563 |  |  |  | 5.1 |  |  |  | 39.90 |  |  |  | 12 |  |  |  | 41.60 |
|  |  | 1,988 |  |  |  | 3.5 |  |  |  | 31.04 |  |  |  | 639 |  |  |  | 24.50 |

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- Definition 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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