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Comprehensive Income (Loss) - Components of Changes in AOCI (Detail) - USD ($)
$ in Thousands
12 Months Ended
May 31, 2023
May 31, 2022
May 31, 2021
Accumulated Other Comprehensive Income Loss [Line Items]      
Balance $ 1,613,962 $ 1,551,695 $ 966,433
Income tax effect (2,055) 14,601 (20,472)
Balance 1,821,628 1,613,962 1,551,695
Foreign Currency Translation      
Accumulated Other Comprehensive Income Loss [Line Items]      
Balance (15,310) 1,779  
Other comprehensive income (loss) before reclassifications (6,774) (15,808)  
Income tax effect (39) (1,281)  
Balance (22,123) (15,310) 1,779
Pension Liability Adjustment      
Accumulated Other Comprehensive Income Loss [Line Items]      
Balance (6,244) (15,955)  
Other comprehensive income (loss) before reclassifications 559 12,101  
Reclassification adjustments to income [1] 5,356 546  
Income tax effect (1,401) (2,936)  
Balance (1,730) (6,244) (15,955)
Cash Flow Hedges      
Accumulated Other Comprehensive Income Loss [Line Items]      
Balance (1,296) 59,563  
Other comprehensive income (loss) before reclassifications (22,873) 19,175  
Reclassification adjustments to income [1] 25,458 (98,852)  
Income tax effect (615) 18,818  
Balance 674 (1,296) 59,563
Accumulated Other Comprehensive Income (Loss)      
Accumulated Other Comprehensive Income Loss [Line Items]      
Balance (22,850) 45,387 (35,217)
Other comprehensive income (loss) before reclassifications (29,088) 15,468  
Reclassification adjustments to income [1] 30,814 (98,306)  
Income tax effect (2,055) 14,601  
Balance $ (23,179) $ (22,850) $ 45,387
[1] The statement of earnings classification of amounts reclassified to net income include:
(1)
Pension liability adjustment – As disclosed in “Note M – Employee Pension Plans”, includes a reclassification adjustment of $4,774 related to the pension lift-out transaction to transfer a portion of the total projected benefit obligation of the Gerstenslager Company Bargaining Unit Employees’ Pension Plan to a third-party insurance company. As a result of this transaction: 1) we incurred a non-cash settlement charge of $4,774 recorded in miscellaneous income (expense), net in the consolidated statement of earnings; 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
(2)
Cash flow hedges – disclosed in “Note R – Derivative Financial Instruments and Hedging Activities.