XML 55 R44.htm IDEA: XBRL DOCUMENT v3.23.1
Restructuring and Other Expense (Income), Net - Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense (Income), Net (Detail) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Feb. 28, 2023
Feb. 28, 2022
Feb. 28, 2023
Feb. 28, 2022
Restructuring Cost and Reserve [Line Items]        
Net gain on sale of assets [1],[2]     $ (5,466)  
Restructuring and other expense (income), net $ 824 $ (504) (4,558) $ (14,782)
Early Retirement And Severance        
Restructuring Cost and Reserve [Line Items]        
Beginning Balance     541  
Expense (Income)     908  
Payments     (1,083)  
Ending Balance $ 366   $ 366  
[1] On June 14, 2022, we sold real property in Tulsa, Oklahoma, for net cash proceeds of $5,775,000, resulting in a pre-tax gain of $1,177,000. These assets had been excluded from the sale of our former oil & gas equipment business in January 2021. The assets were classified in assets held for sale on the consolidated balance sheets immediately prior to the closing of the sale.
[2] On October 31, 2022, our consolidated steel processing joint venture, WSP, sold its remaining manufacturing facility, located in Jackson, Michigan. Net proceeds of $21,277,000 were realized in connection with the transaction, of which $2,000,000 is being held in escrow for contingent indemnification obligations associated with general representations and warranties. The transaction resulted in a pre-tax gain of $3,926,000. The assets had a net book value of $14,263,000 and were classified as assets held for sale on the consolidated balance sheet as of May 31, 2022.