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Guarantees
3 Months Ended
Aug. 31, 2022
Guarantees and Product Warranties [Abstract]  
Guarantees

Note H – Guarantees

We do not have guarantees that we believe are reasonably likely to have a material current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. We had in place $16,637,000 of outstanding stand-by letters of credit issued to third-party service providers at August 31, 2022. No amounts were drawn against these letters of credit at August 31, 2022. We are also party to an operating lease for an aircraft in which we have guaranteed a residual value at lease termination. The maximum obligation under the terms of this guarantee was approximately $17,866,000 at August 31, 2022.