MARKETABLE SECURITIES (Tables)

3 Months Ended

Aug. 31, 2011

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at August 31, 2011 and May 31, 2011 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
August 31, 2011
Equity securities:
Stocks — foreign	$	25,356	$	13,148	$	(811	)	$	37,693
Stocks — domestic		31,972		2,325		(2,701	)		31,596
Mutual funds — foreign		14,687		1,425		(20	)		16,092
Mutual funds — domestic		25,692		653		(350	)		25,995
Total equity securities		97,707		17,551		(3,882	)		111,376
Fixed maturity:
U.S. treasury and other government		24,250		1,039		(19	)		25,270
Corporate bonds		2,677		298		(8	)		2,967
Foreign bonds		38		—		(1	)		37
Mortgage-backed securities		240		98		—			338
Total fixed maturity securities		27,205		1,435		(28	)		28,612
Total	$	124,912	$	18,986	$	(3,910	)	$	139,988

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
May 31, 2011
Equity securities:
Stocks — foreign	$	25,387	$	12,162	$	—		$	37,549
Stocks — domestic		28,044		4,222		(417	)		31,849
Mutual funds — foreign		14,680		3,733		—			18,413
Mutual funds — domestic		30,565		2,246		(1,020	)		31,791
Total equity securities		98,676		22,363		(1,437	)		119,602
Fixed maturity:
U.S. treasury and other government		25,916		643		(79	)		26,480
Corporate bonds		2,729		301		(1	)		3,029
Mortgage-backed securities		432		101		(1	)		532
Total fixed maturity securities		29,077		1,045		(81	)		30,041
Total	$	127,753	$	23,408	$	(1,518	)	$	149,643

Summary of Securities that were in an Unrealized Loss Position and that were Included in Accumulated Other Comprehensive Income, Aggregated by the Length of Time the Investments had been in that Position

Summarized below are the securities we held at August 31, 2011 and May 31, 2011 that were in an unrealized loss position and that were included in accumulated other comprehensive income, aggregated by the length of time the investments had been in that position:

	August 31, 2011					May 31, 2011
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(In thousands)
Total investments with unrealized losses	$	35,734	$	(3,910	)	$	21,612	$	(1,518	)
Unrealized losses with a loss position for less than 12 months		35,682		(3,881	)		19,721		(1,301	)
Unrealized losses with a loss position for more than 12 months		52		(29	)		1,891		(217	)

Net Carrying Values of Debt Securities

The net carrying values of debt securities at August 31, 2011, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

	Amortized Cost		Fair Value
	(In thousands)
Due:
Less than one year	$	3,659	$	3,656
One year through five years		14,426		14,906
Six years through ten years		5,728		6,223
After ten years		3,392		3,827
	$	27,205	$	28,612