Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2012

Supplemental Cash Flow Information

Supplemental cash flow information was as follows for the fiscal years ended May 31:

(in thousands)	2012		2011		2010
Interest paid, net of amount capitalized	$	18,281	$	17,358	$	9,814
Income taxes paid, net of (refunds)		46,445		53,194		(1,601	)

Gerstenslager

Summary of Consideration Received, Consideration Transferred and Resulting Net Gain on Deconsolidation

The following table summarizes the consideration received, the consideration transferred and the resulting net gain on deconsolidation:

(in thousands)
Consideration received (at fair value):
Interest in ArtiFlex	$	28,404
Cash and other consideration		9,235
Total consideration received		37,639
Consideration transferred (at book value)		22,599
Gain on deconsolidation		15,040
Less: Impairment of long-lived assets		6,414
Net gain on deconsolidation	$	8,626

Dietrich

Summary of Consideration Received, Consideration Transferred and Resulting Net Gain on Deconsolidation

The following table summarizes the consideration received, the consideration transferred and the resulting net gain on the deconsolidation:

(in thousands)
Consideration received (at fair value):
MMI steel processing assets	$	72,600
Interest in ClarkDietrich		58,250
Receivable for excess working capital		4,862
Total consideration received		135,712
Consideration transferred (at book value)		104,393
Gain on deconsolidation		31,319
Less: Impairment of long-lived assets		18,293
Restructuring charges		11,216
Net gain on deconsolidation	$	1,810