Derivatives and Hedging (Tables)

12 Months Ended

May 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments for Gains or Losses Initially Recognized in AOCI in Consolidated Balance Sheet

The following table summarizes the location and effects of our derivatives instruments on the Consolidated Statements of Comprehensive Income and Consolidated Statements of Income for gains or losses initially recognized in AOCI in the Consolidated Balance Sheet:

	Pretax gain/(loss) recognized in AOCI									Pretax gain/(loss) reclassified from AOCI into Income
(In thousands)	Year Ended May 31,									Year Ended May 31,
Derivatives in hedging relationships	2022		2021			2020			Income Statement Location	2022			2021			2020
Interest Rate Swap    (Cash Flow)	$	4,508	$	(1,226	)	$	(7,998	)	Interest (Expense) Income	$	(3,272	)	$	(3,380	)	$	170
Cross Currency Swap    (Cash Flow)		15,494		(9,207	)		(2,254	)	Interest Income		611			638			554
Cross Currency Swap    (Cash Flow)		-		-			-		Foreign Exchange (Loss)		14,758			(9,874	)		(2,654	)
Cross Currency Swap    (Net Investment)		40,471		(31,380	)		1,866		Gain or (loss) on sale of subsidiary		-			-			-
Total	$	60,473	$	(41,813	)	$	(8,386	)		$	12,097		$	(12,616	)	$	(1,930	)

Schedule of Fair Values of Qualifying and Non-Qualifying Instruments Used in Hedging Transactions

The fair values of qualifying and non-qualifying instruments used in hedging transactions as of May 31, 2022 and May 31, 2021 are as follows:

(In thousands)			Fair Value
Derivatives Designated as Hedging Instruments		Balance Sheet Location	May 31, 2022		May 31, 2021
Assets:
	Cross Currency Swap (Net Investment)	Other Current Assets	$	-	$	6,233
	Cross Currency Swap (Cash Flow)	Other Current Assets		-		516
Liabilities:
	Interest Rate Swap (Cash Flow)	Other Accrued Liabilities		-		3,547
	Cross Currency Swap (Net Investment)	Other Accrued Liabilities		-		1,321
	Cross Currency Swap (Net Investment)	Other Long-Term Liabilities		-		39,228
	Cross Currency Swap (Cash Flow)	Other Long-Term Liabilities		-		13,786
	Interest Rate Swap (Cash Flow)	Other Long-Term Liabilities		-		2,467
(In thousands)			Fair Value
Derivatives Not Designated as Hedging Instruments		Balance Sheet Location	May 31, 2022		May 31, 2021
Assets:
	Foreign Currency Exchange	Other Current Assets	$	-	$	212
Liabilities:
	Foreign Currency Exchange	Other Accrued Liabilities		260		-