Marketable Securities (Tables)

9 Months Ended

Feb. 28, 2013

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at February 28, 2013 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)
February 28, 2013
Equity securities:
Stocks — foreign	$	1,090	$	290	$	(5	)	$	1,375
Stocks — domestic		28,594		4,128		(625	)		32,097
Mutual funds — foreign		21,304		3,623		—			24,927
Mutual funds — domestic		24,511		96		(198	)		24,409
Total equity securities		75,499		8,137		(828	)		82,808
Fixed maturity:
U.S. treasury and other government		20,822		285		(69	)		21,038
Kemrock convertible bonds		14,273		—		(2,662	)		11,611
Corporate bonds		1,728		268		—			1,996
Foreign bonds		38		4		—			42
Mortgage-backed securities		114		63		(3	)		174
Total fixed maturity securities		36,975		620		(2,734	)		34,861
Total	$	112,474	$	8,757	$	(3,562	)	$	117,669

	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 February 28, 2013 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:

	February 28, 2013					May 31, 2012
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	45,700	$	(3,562	)	$	43,772	$	(3,078	)
Unrealized losses with a loss position for less than 12 months		44,848		(3,357	)		42,114		(2,596	)
Unrealized losses with a loss position for more than 12 months		852		(205	)		1,658		(482	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at February 28, 2013, 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	$	2,073	$	2,088
One year through five years		28,532		26,048
Six years through ten years		4,559		4,690
After ten years		1,811		2,035
	$	36,975	$	34,861