Marketable Securities (Tables)

3 Months Ended

Aug. 31, 2013

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at August 31, 2013 and May 31, 2013 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
August 31, 2013
Equity securities:
Stocks — foreign	$	1,090	$	367	$	(47	)	$	1,410
Stocks — domestic		30,931		4,749		(488	)		35,192
Mutual funds — foreign		26,348		2,018		(148	)		28,218
Mutual funds — domestic		27,835		233		(1,340	)		26,728
Total equity securities		86,204		7,367		(2,023	)		91,548
Fixed maturity:
U.S. treasury and other government		20,386		166		(341	)		20,211
Corporate bonds		1,714		192		(1	)		1,905
Foreign bonds		37		3		—			40
Mortgage-backed securities		88		58		—			146
Total fixed maturity securities		22,225		419		(342	)		22,302
Total	$	108,429	$	7,786	$	(2,365	)	$	113,850

	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

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 August 31, 2013 and May 31, 2013 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:

	August 31, 2013					May 31, 2013
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	48,861	$	(2,365	)	$	36,582	$	(1,034	)
Unrealized losses with a loss position for less than 12 months		46,046		(2,277	)		36,327		(956	)
Unrealized losses with a loss position for more than 12 months		2,815		(88	)		255		(78	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at August 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	$	3,081	$	3,093
One year through five years		13,043		13,100
Six years through ten years		4,439		4,322
After ten years		1,662		1,787
	$	22,225	$	22,302