MARKETABLE SECURITIES (Tables)

12 Months Ended

May 31, 2012

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at May 31, 2012 and 2011 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
May 31, 2012
Equity securities:
Stocks — foreign	$	1,016	$	79	$	—		$	1,095
Stocks — domestic		24,380		2,776		(1,046	)		26,110
Mutual funds — foreign		17,489		521		(936	)		17,074
Mutual funds — domestic		39,246		1,114		(1,077	)		39,283
Total equity securities		82,131		4,490		(3,059	)		83,562
Fixed maturity:
U.S. treasury and other government		19,347		530		(12	)		19,865
Kemrock convertible bonds		22,701		—		—			22,701
Corporate bonds		2,305		349		(5	)		2,649
Foreign bonds		38		1		—			39
Mortgage-backed securities		241		105		(2	)		344
Total fixed maturity securities		44,632		985		(19	)		45,598
Total	$	126,763	$	5,475	$	(3,078	)	$	129,160

	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 in Unrealized Loss Position and Included in Accumulated Other Comprehensive Income, Aggregated by Length of Time Investments

Summarized below are the securities we held at May 31, 2012 and 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:

	May 31, 2012					May 31, 2011
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	43,772	$	(3,078	)	$	21,612	$	(1,518	)
Unrealized losses with a loss position for less than 12 months		42,114		(2,596	)		19,721		(1,301	)
Unrealized losses with a loss position for more than 12 months		1,658		(482	)		1,891		(217	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at May 31, 2012, 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.

(In thousands)	Amortized Cost		Fair Value
Due:
Less than one year	$	25,098	$	25,104
One year through five years		11,787		12,070
Six years through ten years		5,378		5,628
After ten years		2,369		2,796
	$	44,632	$	45,598