Marketable Securities (Tables)

3 Months Ended

Aug. 31, 2014

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at August 31, 2014 and May 31, 2014 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
August 31, 2014
Equity securities:
Stocks — foreign	$	2,315	$	887	$	(25	)	$	3,177
Stocks — domestic		30,867		7,704		(153	)		38,418
Mutual funds — foreign		30,443		2,285		—			32,728
Mutual funds — domestic		43,701		1,783		(1,001	)		44,483
Total equity securities		107,326		12,659		(1,179	)		118,806
Fixed maturity:
U.S. treasury and other government		20,494		127		(228	)		20,393
Corporate bonds		1,474		219		(4	)		1,689
Foreign bonds		38		1		—			39
Mortgage-backed securities		84		53		—			137
Total fixed maturity securities		22,090		400		(232	)		22,258
Total	$	129,416	$	13,059	$	(1,411	)	$	141,064

	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

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, 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:

	August 31, 2014					May 31, 2014
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	41,958	$	(1,411	)	$	35,465	$	(1,425	)
Unrealized losses with a loss position for less than 12 months		26,504		(952	)		16,611		(845	)
Unrealized losses with a loss position for more than 12 months		15,454		(459	)		18,854		(580	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at August 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	$	2,995	$	2,998
One year through five years		14,715		14,638
Six years through ten years		3,261		3,292
After ten years		1,119		1,330
	$	22,090	$	22,258