Marketable Securities (Tables)

9 Months Ended

Feb. 28, 2014

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at February 28, 2014 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)
February 28, 2014
Equity securities:
Stocks — foreign	$	984	$	533	$	(32	)	$	1,485
Stocks — domestic		30,929		8,307		(244	)		38,992
Mutual funds — foreign		6,329		1,798		(8	)		8,119
Mutual funds — domestic		42,570		1,800		(1,166	)		43,204
Total equity securities		80,812		12,438		(1,450	)		91,800
Fixed maturity:
U.S. treasury and other government		18,424		142		(318	)		18,248
Corporate bonds		1,683		200		—			1,883
Foreign bonds		37		3		—			40
Mortgage-backed securities		87		56		—			143
Total fixed maturity securities		20,231		401		(318	)		20,314
Total	$	101,043	$	12,839	$	(1,768	)	$	112,114

	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 February 28, 2014 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:

	February 28, 2014					May 31, 2013
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	38,078	$	(1,768	)	$	36,582	$	(1,034	)
Unrealized losses with a loss position for less than 12 months		23,025		(1,071	)		36,327		(956	)
Unrealized losses with a loss position for more than 12 months		15,053		(697	)		255		(78	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at February 28, 2014, 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	$	2,560	$	2,553
One year through five years		11,690		11,720
Six years through ten years		4,568		4,483
After ten years		1,413		1,558
	$	20,231	$	20,314