Share-Based Compensation Plans

3 Months Ended

May 31, 2019

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

We have equity awards outstanding under several share-based compensation plans. During the three months ended May 31, 2019, we had the following share-based compensation activity:


•	We issued 1,256 shares to non-employee Board members with a total grant date fair value of $0.1 million and an average share price of $111.80.


•	We granted time-vested restricted stock units ("RSUs") that may be settled for 3,271 shares of common stock with a weighted average grant price of $111.41 per share for a total award fair value at date of grant of $0.4 million.


•	We granted time-vested restricted stock awards ("RSAs") that may be vested for 40,852 shares of common stock with a weighted average grant price of $110.98 per share and a total award fair value at date of grant of $4.5 million.


•	We granted performance-based stock units ("PSUs") that may be settled for 6,088 shares of common stock with a weighted average grant price of $110.85 per share and a total award fair value at date of grant of $0.7 million.


•	We granted performance-based restricted stock awards ("PSA's) that are targeted to be vested for 122,402 shares of common stock with a weighted average grant price of $110.85 per share and a total award fair value at date of grant of $13.6 million.


•	RSUs for 62,840 shares vested and settled, with a total fair value at settlement of $7.1 million, and an average share price of $112.83 per share.


•	PSUs for 108,572 shares vested and settled with a total grant date fair value of $14.7 million, and an average share price of $135.85 per share.


•	Employees exercised stock options to purchase 35,397 shares of common stock.


•	Employees purchased 14,790 shares of common stock under the employee stock purchases plan at an average price of $95.29 per share.

We recorded the following share-based compensation expense in SG&A for the periods shown below:



	Three Months Ended May 31,
(in thousands, except per share data)	2019			2018
Stock options	$	116		$	308
Directors stock compensation	140			123
Performance based and other stock awards	7,023			5,571
Employee stock purchase plan	325			322
Share-based compensation expense	7,604			6,324
Less income tax benefits	(577		)	(270		)
Share-based compensation expense, net of income tax benefits	$	7,027		$	6,054

Impact of share-based compensation on earnings per share from continuing operations:
Basic	$	0.28		$	0.23
Diluted	$	0.28		$	0.23