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Subsequent Events
6 Months Ended
Nov. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events

 

NOTE S – Subsequent Events

On December 31, 2019, the Company contributed the recently acquired net assets of Heidtman to the Samuel joint venture in exchange for an incremental 31.75% ownership interest in the Samuel joint venture, bringing the Company’s total ownership interest to 63%.  As a result of the transaction, the Company obtained a controlling interest in the Samuel joint venture, resulting in the consolidation of Samuel upon closing.  The accounting for the transaction, including the revaluation of its previously held interest in Samuel, will be completed in the third quarter of fiscal 2020.