Postretirement Benefits (Tables) - Postretirement Benefits

12 Months Ended

May 31, 2017

Components of Net Periodic Pension and Postretirement Costs

The following table illustrates the effect on operations of these plans for the three years ended May 31, 2017:

	U.S. Plans									Non-U.S. Plans
(In thousands)	2017			2016			2015			2017		2016		2015
Service cost - Benefits earned during the period	$	-		$	-		$	-		$	1,097	$	1,061	$	1,173
Interest cost on the accumulated obligation		229			235			263			854		832		1,155
Amortization of:
Prior service (credit)		(235	)		(247	)		(247	)
Net actuarial (gains) losses								(136	)		230		229		391
Net Periodic Postretirement (Benefit) Expense	$	(6	)	$	(12	)	$	(120	)	$	2,181	$	2,122	$	2,719

Changes in Benefit Obligations

The changes in benefit obligations of the plans at May 31, 2017 and 2016 were as follows:

	U.S. Plans						Non-U.S. Plans
(In thousands)	2017			2016			2017			2016
Accumulated postretirement benefit obligation at beginning of year	$	7,653		$	7,640		$	25,420		$	24,646
Service cost								1,097			1,061
Interest cost		229			235			854			832
Benefit payments		(2,383	)		(251	)		(529	)		(464	)
Actuarial (gains) losses		393			29			1,766			536
Currency exchange rate changes								(740	)		(1,191	)
Accumulated and accrued postretirement benefit obligation at end of year	$	5,892		$	7,653		$	27,868		$	25,420

Amounts Recognized in Consolidated Balance Sheet

Amounts recognized in the Consolidated Balance Sheets for the years ended May 31, 2017 and 2016 are as follows:

	U.S. Plans						Non-U.S. Plans
(In thousands)	2017			2016			2017			2016
Current liabilities	$	(411	)	$	(455	)	$	(522	)	$	(482	)
Noncurrent liabilities		(5,481	)		(7,198	)		(27,346	)		(24,938	)
Net Amount Recognized	$	(5,892	)	$	(7,653	)	$	(27,868	)	$	(25,420	)

Pretax Net Actuarial Loss and Prior Service (Costs) Recognized in Accumulated Other Comprehensive Income (Loss) not Affecting Retained Earnings

The following table presents the pretax net actuarial gain (loss) and prior service credits recognized in accumulated other comprehensive income (loss) not affecting retained earnings:

	U.S. Plans					Non-U.S. Plans
(In thousands)	2017			2016		2017			2016
Net actuarial gain (loss)	$	(299	)	$	94	$	(7,354	)	$	(5,986	)
Prior service credits		1,107			1,341
Total recognized in accumulated other comprehensive income not affecting retained    earnings	$	808		$	1,435	$	(7,354	)	$	(5,986	)

Changes Recognized in Other Comprehensive Income

The following table includes the changes recognized in other comprehensive income:

	U.S. Plans				Non-U.S. Plans
(In thousands)	2017		2016		2017			2016
Changes in plan assets and benefit obligations recognized in other comprehensive    income:
Prior service cost	$	-	$	-	$	-		$	-
Net loss (gain) arising during the year		393		29		1,766			536
Effect of exchange rates on amounts included in AOCI						(168	)		(290	)
Amounts recognized as a component of net periodic benefit cost:
Amortization or curtailment recognition of prior service credit (cost)		234		247
Amortization or settlement recognition of net gain (loss)		-		-		(230	)		(229	)
Total recognized in other comprehensive loss (income)	$	627	$	276	$	1,368		$	17

Weighted-Average Assumptions used to Determine Benefit Obligations and Net Periodic and Postretirement Costs

The following weighted-average assumptions were used to determine our year-end benefit obligations and net periodic postretirement benefit costs under the plans:

	U.S. Plans						Non-U.S. Plans
Year-End Benefit Obligations	2017			2016			2017			2016
Discount rate		3.61	%		3.76	%		3.61	%		3.92	%
Current healthcare cost trend rate		14.75	%		10.37	%		5.85	%		5.98	%
Ultimate healthcare cost trend rate		4.36	%		4.36	%		4.20	%		4.20	%
Year ultimate healthcare cost trend rate will be realized		2037			2037			2030			2030
	U.S. Plans									Non-U.S. Plans
Net Periodic Postretirement Cost	2017			2016			2015			2017			2016			2015
Discount rate		3.76	%		3.95	%		4.00	%		3.92	%		4.00	%		4.40	%
Healthcare cost trend rate		10.37	%		11.34	%		12.28	%		5.98	%		6.06	%		6.31	%
Ultimate healthcare cost trend rate		4.36	%		4.50	%		4.50	%		4.20	%		4.20	%		4.20	%
Year ultimate healthcare cost trend rate will be realized		2037			2029			2029			2030			2030			2030

Increasing or Decreasing Current Healthcare Cost Trend Rates by One Percentage would affect Accumulated Postretirement Benefit Obligation and Net Postretirement Expense

Increasing or decreasing current healthcare cost trend rates by 1% would affect our accumulated postretirement benefit obligation and net postretirement expense by the following amounts for the years ended May 31, 2017 and 2016:

	U.S. Plans						Non-U.S. Plans
(In thousands)	2017			2016			2017			2016
1% Increase in trend rate
Accumulated Benefit Obligation	$	229		$	313		$	6,410		$	5,552
Postretirement Cost		9			11			547			504
1% Decrease in trend rate
Accumulated Benefit Obligation	$	(201	)	$	(272	)	$	(5,016	)	$	(4,289	)
Postretirement Cost		(8	)		(9	)		(406	)		(383	)