XML 66 R53.htm IDEA: XBRL DOCUMENT v3.22.2.2
Changes in Equity - Summary of Changes in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Accumulated Other Comprehensive Income Loss [Line Items]    
Balance $ 1,613,962 $ 1,551,695
Income tax effect 2,429 (458)
Balance 1,646,972 1,606,632
Foreign Currency Translation    
Accumulated Other Comprehensive Income Loss [Line Items]    
Balance (15,310) 1,779
Other comprehensive income (loss) before reclassifications (9,519) (3,617)
Income tax effect 581 358
Balance (25,410) (2,196)
Pension Liability Adjustment    
Accumulated Other Comprehensive Income Loss [Line Items]    
Balance (6,244) (15,955)
Other comprehensive income (loss) before reclassifications (1,049) (0)
Reclassification adjustments to net earnings [1] (4,774) 0
Income tax effect 786 0
Balance (3,305) (15,955)
Cash Flow Hedges    
Accumulated Other Comprehensive Income Loss [Line Items]    
Balance (1,296) 59,563
Other comprehensive income (loss) before reclassifications (14,207) 35,220
Reclassification adjustments to net earnings [1] 2,890 35,419
Income tax effect (3,796) 100
Balance (14,597) 59,264
Accumulated Other Comprehensive Income (Loss), Net of Tax    
Accumulated Other Comprehensive Income Loss [Line Items]    
Balance (22,850) 45,387
Other comprehensive income (loss) before reclassifications (24,775) 31,603
Reclassification adjustments to net earnings [1] (1,884) 35,419
Income tax effect (2,429) 458
Balance $ (43,312) $ 41,113
[1] The statement of earnings classification of amounts reclassified to net earnings include:
1.
Pension liability adjustment – During August 2022, we purchased (using pension plan assets) an annuity contract from a third-party insurance company to transfer approximately 31% of the total projected benefit obligation of The Gerstenslager Company Bargaining Unit Employees’ Pension Plan as of the purchase date. As a result of this transaction: 1) we incurred a non-cash settlement charge of $4,774,000 within miscellaneous income (expense), net; 2) we were relieved of all responsibility for these pension obligations; and 3) the insurance company is now required to pay and administer the retirement benefits owed to 220 beneficiaries; and