Changes in Equity (Tables)

6 Months Ended

Nov. 30, 2017

Summary of Changes in Equity by Component and in Total

The following table summarizes the changes in equity by component and in total for the six months ended November 30, 2017:

	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, 2017	$	303,391		$	(27,775	)	$	676,019		$	951,635		$	122,294		$	1,073,929
Net earnings		-			-			84,937			84,937			4,759			89,696
Other comprehensive income		-			16,695			-			16,695			359			17,054
Common shares issued, net of withholding tax		(3,996	)		-			-			(3,996	)		-			(3,996	)
Common shares in NQ plans		886			-			-			886			-			886
Stock-based compensation		7,991			-			-			7,991			-			7,991
Purchases and retirement of common shares		(11,480	)		-			(101,044	)		(112,524	)		-			(112,524	)
Cash dividends declared		-			-			(26,337	)		(26,337	)		-			(26,337	)
Dividends to noncontrolling interest		-			-			-			-			(3,916	)		(3,916	)
Balance at November 30, 2017	$	296,792		$	(11,080	)	$	633,575		$	919,287		$	123,496		$	1,042,783

Summary of Changes in Accumulated Other Comprehensive Loss

The following table summarizes the changes in accumulated other comprehensive loss for the six months ended November 30, 2017:

(in thousands)	Foreign Currency Translation			Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance as of May 31, 2017	$	(17,358	)	$	(14,819	)	$	4,402		$	(27,775	)
Other comprehensive income before reclassifications		17,024			-			8,912			25,936
Reclassification adjustments to income (a)		-			-			(9,414	)		(9,414	)
Income taxes		-			(6	)		179			173
Balance as of November 30, 2017	$	(334	)	$	(14,825	)	$	4,079		$	(11,080	)

(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.”