Changes in Equity

6 Months Ended

Nov. 30, 2014

Changes in Equity

NOTE I – Changes in Equity

The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interest for the six months ended November 30, 2014:

	Controlling Interest
(in thousands)	Additional Paid-in Capital			Cumulative Other Comprehensive Loss, Net of Tax			Retained Earnings			Total			Non- controlling Interest			Total
Balance at May 31, 2014	$	262,610		$	(3,581	)	$	591,783		$	850,812		$	94,070		$	944,882
Net earnings		-			-			73,630			73,630			6,645			80,275
Other comprehensive loss		-			(16,168	)		-			(16,168	)		(1,614	)		(17,782	)
Common shares issued, net of withholding tax		(454	)		-			-			(454	)		-			(454	)
Common shares in NQ plans		14,227			-			-			14,227			-			14,227
Stock-based compensation		16,628			-			-			16,628			-			16,628
Purchases and retirement of common shares		(4,350	)		-			(37,270	)		(41,620	)		-			(41,620	)
Cash dividends declared		-			-			(24,553	)		(24,553	)		-			(24,553	)
Acquisition of dHybrid Systems, LLC		-			-			-			-			4,082			4,082
Dividend to noncontrolling interest		-			-			-			-			(4,677	)		(4,677	)
Balance at November 30, 2014	$	288,661		$	(19,749	)	$	603,590		$	872,502		$	98,506		$	971,008

The components of the changes in other comprehensive income (loss) were as follows:

(in thousands)	Foreign Currency Translation			Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance as of May 31, 2014	$	11,015		$	(11,265	)	$	(3,331	)	$	(3,581	)
Other comprehensive loss before reclassifications		(15,237	)		-			(4,878	)		(20,115	)
Reclassification adjustments to income (a)		-			-			3,437			3,437
Income taxes		-			-			510			510
Balance as of November 30, 2014	$	(4,222	)	$	(11,265	)	$	(4,262	)	$	(19,749	)

(a) The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “NOTE O – Derivative Instruments and Hedging Activities.”