MARKETABLE SECURITIES (Tables)

3 Months Ended

Aug. 31, 2012

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at August 31, 2012 and May 31, 2012 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
August 31, 2012
Equity securities:
Stocks — foreign	$	1,321	$	234	$	(1	)	$	1,554
Stocks — domestic		26,657		1,877		(922	)		27,612
Mutual funds — foreign		19,053		1,167		(5	)		20,215
Mutual funds — domestic		39,685		165		(40	)		39,810
Total equity securities		86,716		3,443		(968	)		89,191
Fixed maturity:
U.S. treasury and other government		20,641		484		(17	)		21,108
Kemrock convertible bonds		14,273		—		—			14,273
Corporate bonds		1,832		268		—			2,100
Foreign bonds		38		3		—			41
Mortgage-backed securities		180		65		(1	)		244
Total fixed maturity securities		36,964		820		(18	)		37,766
Total	$	123,680	$	4,263	$	(986	)	$	126,957

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
May 31, 2012
Equity securities:
Stocks — foreign	$	1,016	$	79	$	—		$	1,095
Stocks — domestic		24,380		2,776		(1,046	)		26,110
Mutual funds — foreign		17,489		521		(936	)		17,074
Mutual funds — domestic		39,246		1,114		(1,077	)		39,283
Total equity securities		82,131		4,490		(3,059	)		83,562
Fixed maturity:
U.S. treasury and other government		19,347		530		(12	)		19,865
Kemrock convertible bonds		13,670		—		—			13,670
Coporate bonds		2,305		349		(5	)		2,649
Foreign bonds		38		1		—			39
Mortgage-backed securities		241		105		(2	)		344
Total fixed maturity securities		35,601		985		(19	)		36,567
Total	$	117,732	$	5,475	$	(3,078	)	$	120,129

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, 2012 and May 31, 2012 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, 2012					May 31, 2012
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	24,325	$	(986	)	$	43,772	$	(3,078	)
Unrealized losses with a loss position for less than 12 months		22,723		(441	)		42,114		(2,596	)
Unrealized losses with a loss position for more than 12 months		1,602		(545	)		1,658		(482	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at August 31, 2012, 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	$	913	$	914
One year through five years		29,643		29,935
Six years through ten years		4,557		4,776
After ten years		1,851		2,141
	$	36,964	$	37,766