XML 229 R66.htm IDEA: XBRL DOCUMENT v2.4.0.8
Borrowings - Additional Information (Detail) (USD $)
1 Months Ended 1 Months Ended 12 Months Ended 12 Months Ended 1 Months Ended 12 Months Ended
Jun. 29, 2012
May 31, 2013
May 31, 2012
Jun. 29, 2012
Swingline Loans
Oct. 23, 2012
3.45% Notes due 2022
Oct. 23, 2012
Revolving Credit Facility
Oct. 09, 2009
Unsecured 6.125% senior note due October 15, 2019
May 31, 2013
Unsecured 6.125% senior note due October 15, 2019
May 31, 2012
Unsecured 6.125% senior note due October 15, 2019
May 27, 2011
Unsecured 6.125% senior note due October 15, 2019
May 31, 2011
Accounts Receivable Securitization Facility
Oct. 09, 2009
Accounts Receivable Securitization Facility
May 31, 2011
Accounts Receivable Securitization Facility
Maximum
May 31, 2011
Accounts Receivable Securitization Facility
Minimum
May 27, 2011
General Purpose Enhancements
Jun. 29, 2012
Issuance of Debt
Maximum
Jun. 29, 2012
Issuance of Debt
Minimum
May 31, 2013
Revolving Credit Facilities
May 31, 2012
Revolving Credit Facilities
May 31, 2013
Unsecured 6.70% senior notes due November 1, 2015
May 31, 2012
Unsecured 6.70% senior notes due November 1, 2015
May 31, 2013
Unsecured 6.25% senior notes due December 15, 2013
May 31, 2012
Unsecured 6.25% senior notes due December 15, 2013
Debt Disclosure [Line Items]                                              
Maturities of long-term debt in 2014   $ 204,500,000                                          
Maturities of long-term debt in 2015   1,300,000                                          
Maturities of long-term debt in 2016   150,900,000                                          
Maturities of long-term debt in 2017   500,000                                          
Maturities of long-term debt in 2018   256,200,000                                          
Maturities of long-term debt thereafter   760,400,000                                          
Credit facility borrowing capacity   742,300,000                               592,000,000          
Liquidity available   1,100,000,000                                          
Consolidated indebtedness   53.40% 48.50%               60.00%         60.00%              
Debt   1,373,697,000 1,115,536,000   300,000,000   300,000,000 459,457,000 [1] 460,688,000 [1] 150,000,000               7,701,000 [2] 48,797,000 [2] 150,000,000 [3] 150,000,000 [3] 200,000,000 200,000,000
Debt, interest rate         3.45%   6.125% 6.125% [1] 6.125% [1]                     6.70% [3] 6.70% [3] 6.25% 6.25%
Debt, due date             Oct. 15, 2019 Oct. 15, 2019 [1] Oct. 15, 2019 [1]                 Jun. 29, 2017 [2] Jun. 29, 2017 [2] Nov. 01, 2015 [3] Nov. 01, 2015 [3] Dec. 15, 2013 Dec. 15, 2013
Credit facility maturity period                                   5 years          
Credit facility borrowing capacity 600,000,000     50,000,000   600,000,000                       600,000,000 [2] 600,000,000 [2]        
Debt, maturity year         2022                                    
Net proceeds from the offering of notes         297,700,000   163,700,000         120,000,000                      
Unsecured senior note offering price                   108.09%                          
Debt instrument yield to maturity                   4.934%                          
Net proceeds used for general corporate purposes                             162,100,000                
Credit facility expiration date Jun. 29, 2017                                            
Credit facility maturity period 5 years                                            
Credit facility borrowing potential maximum capacity $ 800,000,000                                            
Interest coverage ratio                                 3.50 5.37          
Leverage ratio                                   53.50%          
Margin rate over LIBOR                         1.25% 1.00%                  
Debt rating                     This margin will increase to 1.25% if we do not maintain our public debt rating of at least BB+/Ba1/BB+ from any two of Standard & Poor's, Moody's or Fitch.                        
Minimum required consolidated interest coverage ratio for EBITDA to interest                     3.5                        
Effective euro fixed-rate borrowing   5.31%                                   5.31%      
[1] Includes the combination of the October 2009 initial issuance of $300.0 million aggregate principal amount and the May 2011 issuance of an additional $150.0 million aggregate principal amount of these notes. The $300.0 million aggregate principal amount of the notes due 2019 from the initial issuance is adjusted for the amortization of the original issue discount, which approximated $0.2 million at May 31, 2013 and 2012. The original issue discount effectively reduced the ultimate proceeds from the October 2009 financing. The effective interest rate on the notes issued in October 2009, including the amortization of the discount, is 6.139%. The additional $150.0 million aggregate principal amount of the notes due 2019 issued in May 2011 is adjusted for the unamortized premium received at issuance, which approximated $9.7 million and $11.0 million at May 31, 2013 and 2012, respectively. The premium effectively increased the proceeds from the financing. The effective interest rate on the $150.0 million notes issued in May 2011 is 4.934%.
[2] Interest was tied to AUD LIBOR at May 31, 2013, and averaged 4.16% for AUD denominated debt. Interest was tied to euro LIBOR and prime rate at May 31, 2012, and averaged 1.99% and 5.65%, respectively, for euro denominated debt.
[3] We entered into a cross-currency swap, which fixed the interest and principal payments in euros, resulting in an effective fixed-rate borrowing of 5.31%.