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Comprehensive Income (Tables)
12 Months Ended
May 31, 2014
Summary of Tax Effects of Each Component of Other Comprehensive Income or Loss

The following table summarizes the tax effects of each component of other comprehensive income (loss) for the fiscal years ended May 31:

 

    2014     2013     2012  
(in thousands)   Before-
Tax
    Tax     Net-of-
Tax
    Before-
Tax
    Tax     Net-of-
Tax
    Before-
Tax
    Tax     Net-of-
Tax
 

Foreign currency translation

  $ 7,618        -      $ 7,618      $ 5,393        -      $ 5,393      $ (17,930     -      $ (17,930

Pension liability adjustment

    (1,555     511        (1,044     3,688        (1,415     2,273        (14,216     4,975        (9,241

Cash flow hedges

    3,548        (1,039     2,509        1,461        (763     698        (636     318        (318
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 

Other comprehensive income (loss)

  $ 9,611      $ (528   $ 9,083      $ 10,542      $ (2,178   $ 8,364      $ (32,782   $ 5,293      $ (27,489
 

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

   

 

 

 
Components of AOCI Net of Tax

The components of AOCI were as follows at May 31, 2014 and 2013:

 

(in thousands)    2014      2013  

Foreign currency translation

   $ 11,015       $ 4,025   

Defined benefit pension liability, net of tax

     (11,265      (10,221

Cash flow hedges, net of tax

     (3,331      (5,840
  

 

 

    

 

 

 

Accumulated other comprehensive loss

   $ (3,581    $ (12,036