Marketable Securities (Tables)

12 Months Ended

May 31, 2013

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at May 31, 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)
May 31, 2013
Equity securities:
Stocks—foreign	$	1,090	$	244	$	—		$	1,334
Stocks—domestic		24,492		5,265		(392	)		29,365
Mutual funds—foreign		18,328		1,901		(7	)		20,222
Mutual funds—domestic		39,184		679		(492	)		39,371
Total equity securities		83,094		8,089		(891	)		90,292
Fixed maturity:
U.S. treasury and other government		20,528		247		(139	)		20,636
Corporate bonds		1,724		244		—			1,968
Foreign bonds		37		4		—			41
Mortgage-backed securities		100		60		(4	)		156
Total fixed maturity securities		22,389		555		(143	)		22,801
Total	$	105,483	$	8,644	$	(1,034	)	$	113,093
	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 May 31, 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:

	May 31, 2013					May 31, 2012
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	36,582	$	(1,034	)	$	43,772	$	(3,078	)
Unrealized losses with a loss position for less than 12 months		36,327		(956	)		42,114		(2,596	)
Unrealized losses with a loss position for more than 12 months		255		(78	)		1,658		(482	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at May 31, 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	$	3,219	$	3,240
One year through five years		13,824		13,988
Six years through ten years		3,579		3,602
After ten years		1,767		1,971
	$	22,389	$	22,801