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Comprehensive Income (Loss) (Tables)
 12 Months Ended
May 31, 2018
Equity [Abstract]  
Summary of Tax Effects of Each Component of Other Comprehensive Income (Loss)

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

 

 

2018

 

 

2017

 

 

2016

 

(in thousands)

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

 

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

 

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

Foreign currency translation

$

12,744

 

 

$

-

 

 

$

12,744

 

 

$

1,342

 

 

$

-

 

 

$

1,342

 

 

$

4,716

 

 

$

-

 

 

$

4,716

 

Pension liability adjustment

 

1,875

 

 

 

(309

)

 

 

1,566

 

 

 

3,400

 

 

 

(1,158

)

 

 

2,242

 

 

 

(3,233

)

 

 

1,175

 

 

 

(2,058

)

Cash flow hedges

 

1,351

 

 

 

(392

)

 

 

959

 

 

 

(4,522

)

 

 

1,700

 

 

 

(2,822

)

 

 

35,524

 

 

 

(13,316

)

 

 

22,208

 

Other comprehensive income

$

15,970

 

 

$

(701

)

 

$

15,269

 

 

$

220

 

 

$

542

 

 

$

762

 

 

$

37,007

 

 

$

(12,141

)

 

$

24,866

 

 
Components of Changes in Accumulated Other Comprehensive Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

Foreign

 

 

Pension

 

 

 

 

 

 

Other

 

 

 

Currency

 

 

Liability

 

 

Cash Flow

 

 

Comprehensive

 

(in thousands)

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

Loss

 

Balance at May 31, 2016

 

$

(18,728

)

 

$

(17,061

)

 

$

7,224

 

 

$

(28,565

)

Other comprehensive income before reclassifications

 

 

1,370

 

 

 

2,841

 

 

 

7,669

 

 

 

11,880

 

Reclassification adjustments to income (a)

 

 

-

 

 

 

559

 

 

 

(12,191

)

 

 

(11,632

)

Income taxes

 

 

-

 

 

 

(1,158

)

 

 

1,700

 

 

 

542

 

Balance at May 31, 2017

 

$

(17,358

)

 

$

(14,819

)

 

$

4,402

 

 

$

(27,775

)

Other comprehensive income before reclassifications

 

 

12,371

 

 

 

1,402

 

 

 

14,980

 

 

 

28,753

 

Reclassification adjustments to income (a)

 

 

-

 

 

 

473

 

 

 

(13,629

)

 

 

(13,156

)

Reclassification of stranded tax effects

 

 

-

 

 

 

(2,818

)

 

 

1,117

 

 

 

(1,701

)

Current income tax effect

 

 

-

 

 

 

(309

)

 

 

(392

)

 

 

(701

)

Balance at May 31, 2018

 

$

(4,987

)

 

$

(16,071

)

 

$

6,478

 

 

$

(14,580

)

 

 

(a)

The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “Note P – Derivative Instruments and Hedging Activities.”