Marketable Securities (Tables)

12 Months Ended

May 31, 2014

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at May 31, 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)
May 31, 2014
Equity securities:
Stocks - foreign	$	984	$	669	$	(20	)	$	1,633
Stocks - domestic		31,071		8,965		(132	)		39,904
Mutual funds - foreign		30,541		2,799		—			33,340
Mutual funds - domestic		44,242		1,790		(1,109	)		44,923
Total equity securities		106,838		14,223		(1,261	)		119,800
Fixed maturity:
U.S. treasury and other government		21,156		152		(164	)		21,144
Corporate bonds		1,544		212		—			1,756
Foreign bonds		37		3		—			40
Mortgage-backed securities		85		55		—			140
Total fixed maturity securities		22,822		422		(164	)		23,080
Total	$	129,660	$	14,645	$	(1,425	)	$	142,880
	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 May 31, 2014 and 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:

	May 31, 2014					May 31, 2013
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	35,465	$	(1,425	)	$	36,582	$	(1,034	)
Unrealized losses with a loss position for less than 12 months		16,611		(845	)		36,327		(956	)
Unrealized losses with a loss position for more than 12 months		18,854		(580	)		255		(78	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at May 31, 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	$	3,198	$	3,214
One year through five years		14,984		15,015

Six years through ten years		3,271		3,304
After ten years		1,369		1,547
	$	22,822	$	23,080