Fair Value Measurements (Tables)

3 Months Ended

Aug. 31, 2024

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy

The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Fair Value at August 31, 2024
Available-for-sale debt securities:
U.S. Treasury and other government	$	-	$	28,742	$	-		$	28,742
Corporate bonds		-		144		-			144
Total available-for-sale debt securities		-		28,886		-			28,886
Marketable equity securities:
Stocks – foreign		1,606		-		-			1,606
Stocks – domestic		9,403		-		-			9,403
Mutual funds – foreign		-		42,359		-			42,359
Mutual funds – domestic		-		87,430		-			87,430
Total marketable equity securities		11,009		129,789		-			140,798
Contingent consideration		-		-		(2,210	)		(2,210	)
Total	$	11,009	$	158,675	$	(2,210	)	$	167,474

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Fair Value at May 31, 2024
Available-for-sale debt securities:
U.S. Treasury and other government	$	-	$	26,559	$	-		$	26,559
Corporate bonds		-		138		-			138
Total available-for-sale debt securities		-		26,697		-			26,697
Marketable equity securities:
Stocks – foreign		1,518		-		-			1,518
Stocks – domestic		9,028		-		-			9,028
Mutual funds – foreign		-		39,114		-			39,114
Mutual funds – domestic		-		77,966		-			77,966
Total marketable equity securities		10,546		117,080		-			127,626
Contingent consideration		-		-		(2,229	)		(2,229	)
Total	$	10,546	$	143,777	$	(2,229	)	$	152,094

Fair Value and Carrying Value of Long-Term Debt

Based on the analysis performed, the fair value and the carrying value of our long-term debt as of August 31, 2024 and May 31, 2024 is as follows:

	At August 31, 2024
(In thousands)	Carrying Value		Fair Value
Long-term debt, including current portion	$	2,052,166	$	1,958,791
	At May 31, 2024
(In thousands)	Carrying Value		Fair Value
Long-term debt, including current portion		2,127,148		1,979,359