Marketable Securities (Tables)

3 Months Ended

Aug. 31, 2015

Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at August 31, 2015 and May 31, 2015 by asset type:

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
August 31, 2015
Equity securities:
Stocks — foreign	$	4,201	$	193	$	(415	)	$	3,979
Stocks — domestic		31,465		2,757		(1,004	)		33,218
Mutual funds — foreign		32,681		959		(2,702	)		30,938
Mutual funds — domestic		56,690		9		(5,477	)		51,222
Total equity securities		125,037		3,918		(9,598	)		119,357
Fixed maturity:
U.S. treasury and other government		21,187		111		(179	)		21,119
Corporate bonds		1,214		139		—			1,353
Foreign bonds		36		2		—			38
Mortgage-backed securities		59		37		—			96
Total fixed maturity securities		22,496		289		(179	)		22,606
Total	$	147,533	$	4,207	$	(9,777	)	$	141,963

	Available-For-Sale Securities
(In thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value (Net Carrying Amount)
May 31, 2015
Equity securities:
Stocks — foreign	$	3,722	$	339	$	(85	)	$	3,976
Stocks — domestic		34,368		5,649		(559	)		39,458
Mutual funds — foreign		32,657		2,114		(230	)		34,541
Mutual funds — domestic		56,442		228		(2,779	)		53,891
Total equity securities		127,189		8,330		(3,653	)		131,866
Fixed maturity:
U.S. treasury and other government		21,340		171		(162	)		21,349
Corporate bonds		1,218		171		—			1,389
Foreign bonds		36		2		—			38
Mortgage-backed securities		81		47		—			128
Total fixed maturity securities		22,675		391		(162	)		22,904
Total	$	149,864	$	8,721	$	(3,815	)	$	154,770

Summary of Securities in Unrealized Loss Position and Included in Accumulated Other Comprehensive Income (Loss), Aggregated by Length of Time Investments

Summarized below are the securities we held at August 31, 2015 and May 31, 2015 that were in an unrealized loss position and that were included in accumulated other comprehensive income (loss), aggregated by the length of time the investments had been in that position:

	August 31, 2015					May 31, 2015
(In thousands)	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Total investments with unrealized losses	$	100,639	$	(9,777	)	$	58,978	$	(3,815	)
Unrealized losses with a loss position for less than 12 months		81,271		(7,231	)		32,693		(1,441	)
Unrealized losses with a loss position for more than 12 months		19,368		(2,546	)		26,285		(2,374	)

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at August 31, 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	$	3,609	$	3,609
One year through five years		15,787		15,724
Six years through ten years		1,919		1,937
After ten years		1,181		1,336
	$	22,496	$	22,606