MARKETABLE SECURITIES (Tables)

6 Months Ended

Nov. 30, 2012

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at November 30, 2012 and May 31, 2012 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
November 30, 2012
Equity securities:
Stocks — foreign	$	1,321	$	235	$	(12	)	$	1,544
Stocks — domestic		27,639		2,385		(691	)		29,333
Mutual funds — foreign		20,072		2,550		—			22,622
Mutual funds — domestic		43,272		850		(5	)		44,117
Total equity securities		92,304		6,020		(708	)		97,616
Fixed maturity:
U.S. treasury and other government		20,565		405		(32	)		20,938
Kemrock convertible bonds		14,273		—		—			14,273
Corporate bonds		1,824		286		(1	)		2,109
Foreign bonds		38		4		—			42
Mortgage-backed securities		128		65		(2	)		191
Total fixed maturity securities		36,828		760		(35	)		37,553
Total	$	129,132	$	6,780	$	(743	)	$	135,169

	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		13,670		—		—			13,670
Coporate bonds		2,305		349		(5	)		2,649
Foreign bonds		38		1		—			39
Mortgage-backed securities		241		105		(2	)		344
Total fixed maturity securities		35,601		985		(19	)		36,567
Total	$	117,732	$	5,475	$	(3,078	)	$	120,129

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 November 30, 2012 and May 31, 2012 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, 2012					May 31, 2012
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	20,227	$	(743	)	$	43,772	$	(3,078	)
Unrealized losses with a loss position for less than 12 months		19,531		(533	)		42,114		(2,596	)
Unrealized losses with a loss position for more than 12 months		696		(210	)		1,658		(482	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at November 30, 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	$	1,627	$	1,626
One year through five years		28,849		29,096
Six years through ten years		4,672		4,888
After ten years		1,680		1,943
	$	36,828	$	37,553