Marketable Securities (Tables)

6 Months Ended

Nov. 30, 2014

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at November 30, 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)
November 30, 2014
Equity securities:
Stocks — foreign	$	1,829	$	297	$	(27	)	$	2,099
Stocks — domestic		27,810		7,751		(76	)		35,485
Mutual funds — foreign		31,523		2,321		—			33,844
Mutual funds — domestic		43,575		487		(1,578	)		42,484
Total equity securities		104,737		10,856		(1,681	)		113,912
Fixed maturity:
U.S. treasury and other government		19,615		136		(231	)		19,520
Corporate bonds		1,399		202		(4	)		1,597
Foreign bonds		38		1		—			39
Mortgage-backed securities		83		52		—			135
Total fixed maturity securities		21,135		391		(235	)		21,291
Total	$	125,872	$	11,247	$	(1,916	)	$	135,203

	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 November 30, 2014 and May 31, 2014 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, 2014					May 31, 2014
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	39,525	$	(1,916	)	$	35,465	$	(1,425	)
Unrealized losses with a loss position for less than 12 months		10,036		(432	)		16,611		(845	)
Unrealized losses with a loss position for more than 12 months		29,489		(1,484	)		18,854		(580	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at November 30, 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	$	3,184	$	3,179
One year through five years		13,923		13,826
Six years through ten years		2,715		2,768
After ten years		1,313		1,518
	$	21,135	$	21,291