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Equity Compensation Plans (Tables)
3 Months Ended
Aug. 31, 2015
Stock Option Activity

A summary of stock option activity during the three months ended August 31, 2015 follows:

 

     Shares      Weighted-
Average
Exercise Price
 

Options outstanding at June 1, 2015

     1,988,000       $ 31.04   

Granted

     0         0   

Exercised

     (245,000      21.08   

Forfeited

     0         0   
  

 

 

    

Options outstanding at August 31, 2015

     1,743,000         32.44   
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 2015  

Risk-free interest rate

     1.2

Expected dividend yield

     0

Expected stock price volatility

     36.2

Expected option life

     4.0 years