Changes in Equity

6 Months Ended

Nov. 30, 2016

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 interests for the six months ended November 30, 2016:

	Controlling Interest
(in thousands)	Additional Paid-in Capital		Accumulated Other Comprehensive Loss, Net of Tax			Retained Earnings			Total			Non- controlling Interests			Total
Balance at May 31, 2016	$	298,984	$	(28,565	)	$	522,952		$	793,371		$	126,475		$	919,846
Net earnings		-		-			112,132			112,132			6,271			118,403
Other comprehensive loss		-		(5,762	)		-			(5,762	)		(143	)		(5,905	)
Common shares issued, net of withholding tax		2,972		-			-			2,972			-			2,972
Common shares in NQ plans		948		-			-			948			-			948
Stock-based compensation		7,040		-			-			7,040			-			7,040
Cash dividends declared		-		-			(25,761	)		(25,761	)		-			(25,761	)
Dividends to noncontrolling interest		-		-			-			-			(6,781	)		(6,781	)
Balance at November 30, 2016	$	309,944	$	(34,327	)	$	609,323		$	884,940		$	125,822		$	1,010,762

The components of the changes in accumulated other comprehensive loss were as follows:

(in thousands)	Foreign Currency Translation			Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance as of May 31, 2016	$	(18,728	)	$	(17,061	)	$	7,224		$	(28,565	)
Other comprehensive income (loss) before reclassifications		(8,039	)		-			8,050			11
Reclassification adjustments to income (a)		-			-			(4,915	)		(4,915	)
Income taxes		-			-			(858	)		(858	)
Balance as of November 30, 2016	$	(26,767	)	$	(17,061	)	$	9,501		$	(34,327	)

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