Marketable Securities (Tables)

6 Months Ended

Nov. 30, 2013

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at November 30, 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)
November 30, 2013
Equity securities:
Stocks — foreign	$	372	$	107	$	(39	)	$	440
Stocks — domestic		31,849		7,947		(239	)		39,557
Mutual funds — foreign		26,367		5,535		—			31,902
Mutual funds — domestic		40,649		2,132		(1,017	)		41,764
Total equity securities		99,237		15,721		(1,295	)		113,663
Fixed maturity:
U.S. treasury and other government		19,595		163		(286	)		19,472
Corporate bonds		1,709		196		—			1,905
Foreign bonds		37		3		—			40
Mortgage-backed securities		87		57		—			144
Total fixed maturity securities		21,428		419		(286	)		21,561
Total	$	120,665	$	16,140	$	(1,581	)	$	135,224

	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
Coporate 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 November 30, 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:

	November 30, 2013					May 31, 2013
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	35,851	$	(1,581	)	$	36,582	$	(1,034	)
Unrealized losses with a loss position for less than 12 months		23,819		(1,065	)		36,327		(956	)
Unrealized losses with a loss position for more than 12 months		12,032		(516	)		255		(78	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at November 30, 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	$	3,210	$	3,227
One year through five years		12,055		12,118
Six years through ten years		4,712		4,647
After ten years		1,451		1,569
	$	21,428	$	21,561