Marketable Securities (Tables)

9 Months Ended

Feb. 28, 2015

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at February 28, 2015 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)
February 28, 2015
Equity securities:
Stocks — foreign	$	1,899	$	258	$	(24	)	$	2,133
Stocks — domestic		29,710		5,389		(173	)		34,926
Mutual funds — foreign		30,952		1,398		(204	)		32,146
Mutual funds — domestic		41,945		124		(2,682	)		39,387
Total equity securities		104,506		7,169		(3,083	)		108,592
Fixed maturity:
U.S. treasury and other government		19,711		159		(257	)		19,613
Corporate bonds		1,265		204		(3	)		1,466
Foreign bonds		38		1		—			39
Mortgage-backed securities		82		50		—			132
Total fixed maturity securities		21,096		414		(260	)		21,250
Total	$	125,602	$	7,583	$	(3,343	)	$	129,842

	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 February 28, 2015 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:

	February 28, 2015					May 31, 2014
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	55,027	$	(3,343	)	$	35,465	$	(1,425	)
Unrealized losses with a loss position for less than 12 months		25,927		(938	)		16,611		(845	)
Unrealized losses with a loss position for more than 12 months		29,100		(2,405	)		18,854		(580	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at February 28, 2015, 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	$	3,000	$	2,998
One year through five years		14,221		14,119
Six years through ten years		2,955		3,021
After ten years		920		1,112
	$	21,096	$	21,250