Leases (Tables)

12 Months Ended

May 31, 2023

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense for fiscal 2023 and fiscal 2022 were as follows:

(In thousands)	2023		2022
Operating lease expense	$	17,234	$	15,726
Financing lease expense:
Amortization of leased assets		658		653
Interest on lease liabilities		119		124
Total financing lease expense		777		777
Short-term lease expense		4,351		2,991
Variable lease expense		572		612
Total lease expense	$	22,934	$	20,106

Other Information Related to Company' s Leases

Other information related to our leases, as of and for the fiscal years ended May 31, 2023 and May 31, 2022, is provided below:

	2023						2022
(Dollars in thousands)	Operating Leases			Financing Leases			Operating Leases			Financing Leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	12,393		$	119		$	13,514		$	123
Financing cash flows	$	-		$	54		$	-		$	101
ROU assets obtained in exchange for lease liabilities	$	16,272		$	-		$	75,986		$	2
Weighted-average remaining lease term (in years)		12.07			36.45			13.48			37.36
Weighted-average discount rate		3.30	%		3.75	%		2.97	%		3.75	%

Schedule of Future Minimum Lease Payments for Non-Cancelable Leases

Future minimum lease payments for non-cancelable leases having an initial or remaining term in excess of one year at May 31, 2023, were as follows:

(In thousands)	Operating Leases			Financing Leases
2024	$	15,709		$	177
2025		14,377			182
2026		12,682			186
2027		11,256			186
2028		9,653			187
Thereafter		61,273			5,105
Total		124,950			6,023
Less: imputed interest		(22,360	)		(2,306	)
Present value of lease liabilities	$	102,590		$	3,717