Restructuring (Tables)

6 Months Ended

Nov. 30, 2023

Restructuring and Related Activities [Abstract]

Summary of Charges Recorded in Connection with Restructuring by Reportable Segment

Following is a summary of the charges recorded in connection with MAP 2025 by reportable segment as well as the total expected costs related to projects identified to date:

	Three Months Ended		Six Months Ended		Cumulative Costs			Total Expected
(In thousands)	November 30, 2023		November 30, 2023		to Date			Costs
Construction Products Group ("CPG") Segment:
Severance and benefit costs	$	387	$	802	$	6,894		$	17,110
Facility closure and other related costs		-		-		-			15,304
Total Charges	$	387	$	802	$	6,894		$	32,414
Performance Coatings Group ("PCG") Segment:
Severance and benefit costs	$	213	$	1,044	$	2,192		$	2,369
Facility closure and other related costs		93		123		123			1,123
Other restructuring costs (a)		-		4,555		7,092			7,092
Total Charges	$	306	$	5,722	$	9,407		$	10,584
Consumer Segment:
Severance and benefit costs	$	35	$	35	$	542		$	542
Facility closure and other related costs		-		14		635			635
Total Charges	$	35	$	49	$	1,177		$	1,177
Specialty Products Group ("SPG") Segment:
Severance and benefit costs	$	482	$	1,135	$	1,940		$	2,290
Facility closure and other related costs		29		29		29			4,828
Total Charges	$	511	$	1,164	$	1,969		$	7,118
Corporate/Other Segment:
Severance and benefit (credits)	$	-	$	-	$	(50	)	$	(50	)
Total Charges	$	-	$	-	$	(50	)	$	(50	)
Consolidated:
Severance and benefit costs	$	1,117	$	3,016	$	11,518		$	22,261
Facility closure and other related costs		122		166		787			21,890
Other restructuring costs		-		4,555		7,092			7,092
Total Charges	$	1,239	$	7,737	$	19,397		$	51,243

(a)Of the $4.6 million of other restructuring costs incurred for the six-month period ending November 30, 2023, $3.3 million is associated with the impairment of an indefinite-lived tradename described above.

Summary of Activity in Restructuring Reserves

A summary of the activity in the restructuring reserves related to MAP 2025 is as follows:

(in thousands)	Severance and Benefits Costs			Facility Closure and Other Related Costs			Other Asset Write-Offs		Total
Balance at August 31, 2023	$	2,510		$	-		$	-	$	2,510
Additions charged to expense		1,117			122			-		1,239
Cash payments charged against reserve		(884	)		(122	)		-		(1,006	)
Non-cash charges and other adjustments		62			-			-		62
Balance at November 30, 2023	$	2,805		$	-		$	-	$	2,805

(In thousands)	Severance and Benefits Costs			Facility Closure and Other Related Costs			Other Asset Write-Offs			Total
Balance at June 1, 2023	$	2,717		$	-		$	-		$	2,717
Additions charged to expense		3,016			166			4,555			7,737
Cash payments charged against reserve		(2,945	)		(166	)		-			(3,111	)
Non-cash charges and other adjustments		17			-			(4,555	)		(4,538	)
Balance at November 30, 2023	$	2,805		$	-		$	-		$	2,805