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Marketable Securities (Tables)
6 Months Ended
Nov. 30, 2015
Investments Debt And Equity Securities [Abstract]  
Summary of Marketable Securities by Asset Type

The following tables summarize marketable securities held at November 30, 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)

 

November 30, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stocks - foreign

 

$

4,282

 

 

$

415

 

 

$

(248

)

 

$

4,449

 

Stocks - domestic

 

 

32,032

 

 

 

3,991

 

 

 

(955

)

 

 

35,068

 

Mutual funds - foreign

 

 

33,605

 

 

 

948

 

 

 

(2,398

)

 

 

32,155

 

Mutual funds - domestic

 

 

57,862

 

 

 

124

 

 

 

(4,030

)

 

 

53,956

 

Total equity securities

 

 

127,781

 

 

 

5,478

 

 

 

(7,631

)

 

 

125,628

 

Fixed maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury and other government

 

 

21,714

 

 

 

85

 

 

 

(258

)

 

 

21,541

 

Corporate bonds

 

 

1,032

 

 

 

135

 

 

 

-

 

 

 

1,167

 

Foreign bonds

 

 

36

 

 

 

2

 

 

 

-

 

 

 

38

 

Mortgage-backed securities

 

 

18

 

 

 

23

 

 

 

-

 

 

 

41

 

Total fixed maturity securities

 

 

22,800

 

 

 

245

 

 

 

(258

)

 

 

22,787

 

Total

 

$

150,581

 

 

$

5,723

 

 

$

(7,889

)

 

$

148,415

 

 

 

 

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 November 30, 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:

 

 

 

November 30, 2015

 

 

May 31, 2015

 

(In thousands)

 

Fair Value

 

 

Gross

Unrealized

Losses

 

 

Fair Value

 

 

Gross

Unrealized

Losses

 

Total investments with unrealized losses

 

$

97,059

 

 

$

(7,889

)

 

$

58,978

 

 

$

(3,815

)

Unrealized losses with a loss position for less

   than 12 months

 

 

55,461

 

 

 

(4,872

)

 

 

32,693

 

 

 

(1,441

)

Unrealized losses with a loss position for more

   than 12 months

 

 

41,598

 

 

 

(3,017

)

 

 

26,285

 

 

 

(2,374

)

 

Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of debt securities at November 30, 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

 

$

3,738

 

 

$

3,706

 

One year through five years

 

 

15,818

 

 

 

15,683

 

Six years through ten years

 

 

2,135

 

 

 

2,150

 

After ten years

 

 

1,109

 

 

 

1,248

 

 

 

$

22,800

 

 

$

22,787