Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2018

Accounting Policies [Abstract]

Asset Acquired and Liabilities Assumed on Acquisition

Acquisitions are aggregated by year of purchase in the following table:

	Fiscal 2018 Acquisitions					Fiscal 2017 Acquisitions
(In thousands)	Weighted-Average Intangible Asset Amortization Life (In Years)	Total				Weighted-Average Intangible Asset Amortization Life (In Years)	Total
Current assets		$	28,939				$	78,565
Property, plant and equipment			10,875					59,630
Goodwill	N/A		43,656			N/A		75,361
Tradenames - indefinite lives	N/A		15,096			N/A		12,251
Other intangible assets	12		36,450			14		83,447
Other long-term assets			81					460
Total Assets Acquired		$	135,097				$	309,714
Liabilities assumed			(19,369	)				(51,344	)
Net Assets Acquired		$	115,728		(1)		$	258,370		(2)

(1) Figure includes cash acquired of $3.3 million.

(2) Figure includes cash acquired of $4.2 million.

Property, Plant and Equipment

May 31,	2018		2017
(In thousands)
Land	$	85,007	$	82,184
Buildings and leasehold improvements		445,017		427,304
Machinery and equipment		1,045,851		975,091
Total property, plant and equipment, at cost		1,575,875		1,484,579
Less:  allowance for depreciation and amortization		795,569		741,893
Property, plant and equipment, net	$	780,306	$	742,686

Useful Lives

Depreciation is computed primarily using the straight-line method over the following ranges of useful lives:

Land improvements	1 to 50 years
Buildings and improvements	1 to 50 years
Machinery and equipment	1 to 30 years

Major Classes of Inventories

Inventories were composed of the following major classes:

May 31,	2018		2017
(In thousands)
Raw material and supplies	$	288,201	$	248,426
Finished goods		546,260		539,771
Total Inventory	$	834,461	$	788,197

Investment (Income), Net

Investment (income), net, consists of the following components:

Year Ended May 31,	2018			2017			2016
(In thousands)
Interest (income)	$	(5,003	)	$	(4,620	)	$	(5,975	)
(Gain) on sale of marketable securities		(11,704	)		(8,174	)		(6,457	)
Other-than-temporary impairment on securities					420			3,811
Dividend (income)		(3,735	)		(1,610	)		(1,744	)
Investment (income), net	$	(20,442	)	$	(13,984	)	$	(10,365	)

Other Expense (Income), Net

Other expense (income), net, consists of the following components:

Year Ended May 31,	2018			2017			2016
(In thousands)
Royalty expense (income), net	$	404		$	2,680		$	2,039
Loss on litigation settlement								9,300
(Gain) on remeasurement of joint venture ownership								(7,972	)
(Income) loss related to unconsolidated equity affiliates		(1,002	)		(1,013	)		(2,080	)
Other expense (income), net	$	(598	)	$	1,667		$	1,287