Stock-Based Compensation |
9 Months Ended |
|---|---|
Aug. 31, 2026 | |
| Share-Based Payment Arrangement [Abstract] | |
| Stock-Based Compensation | Stock-Based Compensation Stock Options. At November 30, 2025, we had 350,864 stock options outstanding with a weighted average exercise price of $16.21. During the nine months ended August 31, 2026, all of these stock options were exercised; accordingly, no stock options were outstanding at August 31, 2026. We have not granted stock option awards since 2016. As all stock options had been fully vested since 2019, no stock-based compensation expense related to stock options was recognized during the three-month and nine-month periods ended August 31, 2026 and 2025. Other Stock-Based Awards. From time to time, we grant restricted stock and PSUs to various employees as a compensation benefit. We recognized a nominal stock-based compensation amount related to these awards for the three months ended August 31, 2026, compared to expense of $8.4 million for the three months ended August 31, 2025. For the nine months ended August 31, 2026 and 2025, we recognized stock-based compensation expense of $11.3 million and $25.1 million, respectively, related to these awards. The year-over-year decreases in stock-based compensation expense for both the three-month and nine-month periods were primarily due to lower compensation expense associated with PSUs, reflecting reduced expected achievement levels relative to the applicable performance metrics.
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