Fair Value (Tables)

3 Months Ended

Aug. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

At August 31, 2021, our assets and liabilities measured at fair value on a recurring basis were as follows:

			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable
	Markets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Totals
Assets
Derivative instruments (1)	$	-	$	80,492	$	-	$	80,492
Total assets	$	-	$	80,492	$	-	$	80,492
Liabilities
Derivative instruments (1)	$	-	$	9,495	$	-	$	9,495
Total liabilities	$	-	$	9,495	$	-	$	9,495

At May 31, 2021, our assets and liabilities measured at fair value on a recurring basis were as follows:

			Significant
	Quoted Prices		Other		Significant
	in Active		Observable		Unobservable
	Markets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Totals
Assets
Derivative instruments (1)	$	-	$	78,148	$	-	$	78,148
Total assets	$	-	$	78,148	$	-	$	78,148
Liabilities
Derivative instruments (1)	$	-	$	15,197	$	-	$	15,197
Total liabilities	$	-	$	15,197	$	-	$	15,197

(1) The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities.  Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows.  Refer to “NOTE Q – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative instruments.