MARKETABLE SECURITIES (Tables)

6 Months Ended

Nov. 30, 2011

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at November 30, 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)
November 30, 2011
Equity securities:
Stocks — foreign	$	1,056	$	236	$	(78	)	$	1,214
Stocks — domestic		25,068		1,989		(1,576	)		25,481
Mutual funds — foreign		14,694		953		(358	)		15,289
Mutual funds — domestic		37,411		624		(648	)		37,387
Total equity securities		78,229		3,802		(2,660	)		79,371
Fixed maturity:
U.S. treasury and other government		16,853		390		(54	)		17,189
Corporate bonds		2,622		276		(27	)		2,871
Foreign bonds		38		—		(2	)		36
Mortgage-backed securities		240		102		—			342
Total fixed maturity securities		19,753		768		(83	)		20,438
Total	$	97,982	$	4,570	$	(2,743	)	$	99,809
	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 November 30, 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:

	November 30, 2011					May 31, 2011
	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
	(In thousands)
Total investments with unrealized losses	$	40,559	$	(2,743	)	$	21,612	$	(1,518	)
Unrealized losses with a loss position for less than 12 months		40,508		(2,713	)		19,721		(1,301	)
Unrealized losses with a loss position for more than 12 months		51		(30	)		1,891		(217	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at November 30, 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	$	3,667	$	3,641
One year through five years		12,244		12,474
Six years through ten years		1,126		1,229
After ten years		2,716		3,094
	$	19,753	$	20,438