Derivative Instruments And Hedging Activities (Tables)

9 Months Ended

Feb. 29, 2012

Derivative [Line Items]

Schedule Of Fair Value Of Derivative Instruments

	Asset Derivatives			Liability Derivatives
(in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Receivables	$	—	Accounts payable	$	1,859
	Other assets		—	Other liabilities		8,870
Totals		$	—		$	10,729
Derivatives not designated as hedging instruments:
Commodity contracts	Receivables	$	430	Accounts payable	$	1,327
			430			1,327
Foreign exchange contracts	Receivables		463	Accounts payable		—
			463			—
Totals		$	893		$	1,327
Total Derivative Instruments		$	893		$	12,056

The following table summarizes the fair value of our derivative instruments and the respective line item in which they were recorded in the consolidated balance sheet at May 31, 2011:

	Asset Derivatives			Liability Derivatives
(in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments:
Interest rate contracts	Receivables	$	—	Accounts payable	$	2,024
	Other assets		—	Other liabilities		10,375
			—			12,399
Commodity contracts	Receivables		194	Accounts payable		—
			194			—
Totals		$	194		$	12,399
Derivatives not designated as hedging instruments:
Commodity contracts	Receivables	$	944	Accounts payable	$	—
			944			—
Foreign exchange contracts	Other assets		—	Other accrued items		573
			—			573
Totals		$	944		$	573
Total Derivative Instruments		$	1,138		$	12,972

Schedule Of Derivatives Designated As Cash Flow Hedging Instruments

(in thousands)	Income (Loss) Recognized in OCI (Effective Portion)			Location of Income  (Loss) Reclassified from Accumulated OCI (Effective Portion)		Income (Loss) Reclassified from Accumulated OCI (Effective Portion)			Location of Income (Loss) (Ineffective Portion) and Excluded from Effectiveness Testing		Income (Loss) (Ineffective Portion) and Excluded from Effectiveness Testing
For the three months ended February 29, 2012:
Interest rate contracts	$	(571	)		Interest expense	$	(1,042	)		Interest expense	$	—
Commodity contracts		459			Cost of goods sold		258			Cost of goods sold		—
Totals	$	(112	)			$	(784	)			$	—
For the three months ended February 28, 2011:
Interest rate contracts	$	1,227			Interest expense	$	(1,022	)		Interest expense	$	—
Commodity contracts		2,135			Cost of goods sold		(215	)		Cost of goods sold		—
Totals	$	3,362				$	(1,237	)			$	—

The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the nine months ended February 29, 2012 and February 28, 2011:

(in thousands)	Income (Loss) Recognized in OCI (Effective Portion)			Location of Income  (Loss) Reclassified from Accumulated OCI (Effective Portion)		Income (Loss) Reclassified from Accumulated OCI (Effective Portion)			Location of Income (Loss) (Ineffective Portion) and Excluded from Effectiveness Testing		Income  (Loss) (Ineffective Portion) and Excluded from Effectiveness Testing
For the nine months ended February 29, 2012:
Interest rate contracts	$	(2,444	)		Interest expense	$	(3,040	)		Interest expense	$	—
Commodity contracts		36			Cost of goods sold		1,993			Cost of goods sold		—
Totals	$	(2,408	)			$	(1,047	)			$	—
For the nine months ended February 28, 2011:
Interest rate contracts	$	(3,481	)		Interest expense	$	(2,986	)		Interest expense	$	—
Commodity contracts		1,374			Cost of goods sold		(86	)		Cost of goods sold		—
Totals	$	(2,107	)			$	(3,072	)			$	—

Schedule Of Gain (Loss) Recognized In Earnings For Economic (Non-Designated) Derivative Financial Instruments

		Income (Loss) Recognized in Earnings for the Three Months Ended
(in thousands)	Location of Income (Loss) Recognized in Earnings	February 29, 2012			February 28, 2011
Commodity contracts	Cost of good sold	$	(2,552	)	$	619
Foreign exchange contracts	Miscellaneous expense		653			(2,912	)
Total		$	(1,899	)	$	(2,293	)

The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the nine months ended February 29, 2012 and February 28, 2011:

		Income (Loss) Recognized in Earnings for the Nine Months Ended
(in thousands)	Location of Income (Loss) Recognized in Earnings	February 29, 2012			February 28, 2011
Commodity contracts	Cost of good sold	$	(3,655	)	$	(795	)
Foreign exchange contracts	Miscellaneous expense		4,421			(5,247	)
Total		$	766		$	(6,042	)

Derivatives Not Designated As Hedging Instruments [Member]

Derivative [Line Items]

Schedule Of Summary Of Derivative Hedges

(in thousands)	Notional Amount		Maturity Date(s)
Commodity contracts	$	24,640	May 2012- November 2013
Foreign currency contracts		77,100	May 2012- July 2012

Cash Flow Hedges [Member]

Derivative [Line Items]

Schedule Of Summary Of Derivative Hedges

(in thousands)	Notional Amount		Maturity Date
Interest rate contracts	$	100,000		December 2014