Leases (Tables)

12 Months Ended

May 31, 2021

Leases [Abstract]

Schedule of Components of Lease Expense

The components of lease expense for the twelve month periods ending May 31, 2021 and May 31, 2020, were as follows:

	2021		2020
(in thousands)
Operating lease expense	$	10,123	$	12,454
Financing lease expense:
Amortization of leased assets		648		451
Interest on lease liabilities		145		61
Total financing lease expense		793		512
Short-term lease expense		578		599
Variable lease expense		2,398		2,580
Total lease expense	$	13,892	$	16,145

Other Information Related to Company' s Leases

Other information related to the Company’s leases, as of and for the twelve-month periods ended May 31, 2021 and May 31, 2020, is provided below:

	2021						2020
(dollars in thousands)	Operating Leases			Financing Leases			Operating Leases			Financing Leases
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows	$	16,506		$	145		$	11,531		$	61
Financing cash flows	$	-		$	392		$	-		$	361
ROU assets obtained in exchange for lease liabilities	$	20,421		$	-		$	4,954		$	15,217
Weighted-average remaining lease term (in years)		5.83			33.03			5.24			31.38
Weighted-average discount rate		2.61	%		3.71	%		2.89	%		3.68	%

Schedule of Future Minimum Lease Payments for Non-Cancelable Leases

Future minimum lease payments for non-cancelable leases having an initial or remaining term in excess of one year at May 31, 2021, were as follows:

(in thousands)	Operating Leases			Financing Leases
2022	$	10,954		$	773
2023		8,448			545
2024		5,805			166
2025		4,571			171
2026		3,821			176
Thereafter		7,415			5,473
Total		41,014			7,304
Less: imputed interest		(3,693	)		(3,124	)
Present value of lease liabilities	$	37,321		$	4,180