Fair Value Measurements (Tables)

3 Months Ended

Aug. 31, 2013

Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy

The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at August 31, 2013
U.S. Treasury and other government	$	—	$	20,211		$	—		$	20,211
Foreign bonds				40						40
Mortgage-backed securities				146						146
Corporate bonds				1,905						1,905
Stocks — foreign		1,410								1,410
Stocks — domestic		35,192								35,192
Mutual funds — foreign				28,218						28,218
Mutual funds — domestic				26,728						26,728
Foreign currency forward contract				1,687						1,687
Cross-currency swap				(12,708	)					(12,708	)
Contingent consideration				—			(68,050	)		(68,050	)
Total	$	36,602	$	66,227		$	(68,050	)	$	34,779

(In thousands)	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)			Fair Value at May 31, 2013
U.S. Treasury and other government	$	—	$	20,636		$	—		$	20,636
Foreign bonds				41						41
Mortgage-backed securities				156						156
Corporate bonds				1,968						1,968
Stocks — foreign		1,334								1,334
Stocks — domestic		29,365								29,365
Mutual funds — foreign				20,222						20,222
Mutual funds — domestic				39,371						39,371
Foreign currency forward contract				(4,751	)					(4,751	)
Cross-currency swap				(10,048	)					(10,048	)
Contingent consideration							(64,500	)		(64,500	)
Total	$	30,699	$	67,595		$	(64,500	)	$	33,794

Fair Value and Carrying Value of Financial Instruments and Long-Term Debt

Based on the analysis performed, the fair value and the carrying value of our financial instruments and long-term debt as of August 31, 2013 and May 31, 2013 are as follows:

	At August 31, 2013
(In thousands)	Carrying Value		Fair Value
Cash and cash equivalents	$	204,903	$	204,903
Marketable equity securities		91,548		91,548
Marketable debt securities		22,302		22,302
Long-term debt, including current portion		1,424,144		1,504,714

	At May 31, 2013
(In thousands)	Carrying Value		Fair Value
Cash and cash equivalents	$	343,554	$	343,554
Marketable equity securities		90,292		90,292
Marketable debt securities		22,801		22,801
Long-term debt, including current portion		1,373,697		1,501,850