XML 116 R70.htm IDEA: XBRL DOCUMENT v3.10.0.1
Description of Long Term Debt (Parenthetical) (Detail) - USD ($)
12 Months Ended
May 31, 2018
May 31, 2017
Dec. 20, 2017
Mar. 31, 2017
Mar. 02, 2017
May 29, 2015
May 27, 2011
Oct. 09, 2009
Debt Instrument [Line Items]                
Debt $ 205,000,000 $ 205,000,000            
Revolving Credit Facility                
Debt Instrument [Line Items]                
Debt, due date [1] Dec. 05, 2019 Dec. 05, 2019            
Debt issuance costs, net of amortization $ 1,200,000 $ 2,000,000            
Unsecured 6.50% senior notes due February 14, 2018                
Debt Instrument [Line Items]                
Debt   $ 250,000,000            
Debt, interest rate [2]   6.50%            
Debt, due date [2]   Feb. 14, 2018            
Debt issuance costs, net of amortization   $ 200,000            
Amortization of debt discount premium   $ 300,000            
Debt instrument, effective interest rate   6.704%            
Unsecured 6.125% senior notes due October 15, 2019                
Debt Instrument [Line Items]                
Debt, interest rate [3] 6.125% 6.125%            
Debt, due date [3] Oct. 15, 2019 Oct. 15, 2019            
Debt issuance costs, net of amortization $ 600,000 $ 1,100,000            
Amortization of debt discount premium   100,000            
Debt instrument, effective interest rate             4.934% 6.139%
Debt             $ 150,000,000 $ 300,000,000
Unamortization of debt premium $ 2,300,000 $ 3,900,000            
Unsecured 2.25% senior convertible notes due December 15, 2020                
Debt Instrument [Line Items]                
Debt, interest rate 2.25% 2.25%            
Debt, due date Dec. 15, 2020 Dec. 15, 2020            
Unsecured 3.45% senior notes due November 15, 2022                
Debt Instrument [Line Items]                
Debt, interest rate 3.45% 3.45%            
Debt, due date Nov. 15, 2022 Nov. 15, 2022            
Unsecured 5.25% notes due June 1, 2045                
Debt Instrument [Line Items]                
Debt $ 250,000,000 $ 250,000,000     $ 50,000,000 $ 250,000,000    
Debt, interest rate 5.25% [4] 5.25% [4]     5.25% 5.25%    
Debt, due date [4] Jun. 01, 2045 Jun. 01, 2045            
Debt issuance costs, net of amortization $ 3,100,000 $ 3,200,000            
Amortization of debt discount premium $ 1,400,000 1,500,000            
Debt instrument, effective interest rate 5.29%     4.839%        
Debt       $ 50,000,000        
Unamortization of debt premium $ 3,000,000 3,100,000            
Unsecured 3.75% notes due March 15, 2027                
Debt Instrument [Line Items]                
Debt $ 400,000,000 $ 400,000,000     $ 400,000,000      
Debt, interest rate 3.75% [5] 3.75% [5]     3.75%      
Debt, due date [5] Mar. 15, 2027 Mar. 15, 2027            
Amortization of debt discount premium $ 500,000 $ 500,000            
Debt instrument, effective interest rate 3.767%              
Amortization of debt discount and issuance cost $ 3,400,000 $ 3,800,000            
Other Borrowings                
Debt Instrument [Line Items]                
Debt, maturity year 2021 2021            
Unsecured 4.25% notes due January 15, 2048                
Debt Instrument [Line Items]                
Debt $ 300,000,000   $ 300,000,000          
Debt, interest rate 4.25% [6]   4.25%          
Debt, due date [6] Jan. 15, 2048              
Debt instrument, effective interest rate 4.25%              
Amortization of debt discount and issuance cost $ 3,600,000              
Australian Dollar Denominated Debt | Revolving Credit Facility                
Debt Instrument [Line Items]                
Interest expense $ 23,309,000 $ 17,311,000            
Australian Dollar Denominated Debt | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)                
Debt Instrument [Line Items]                
Average interest rate 2.925% 2.705%            
Euro Denominated Debt | Revolving Credit Facility                
Debt Instrument [Line Items]                
Interest expense $ 213,708,000 $ 183,012,000            
Euro Denominated Debt | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)                
Debt Instrument [Line Items]                
Average interest rate 0.675% 1.075%            
[1] Interest was tied to AUD LIBOR at May 31, 2018, and averaged 2.925% for AUD denominated debt ($23,309) and 0.675% on EUR denominated debt ($213,708). Interest was tied to AUD LIBOR at May 31, 2017, and averaged 2.705% for AUD denominated debt ($17,311), 1.075% on EUR denominated debt ($183,012). At May 31, 2018 and 2017, the revolving credit facility is adjusted for debt issuance costs, net of amortization, for approximately $1.2 million and $2.0 million, respectively.
[2] The $250.0 million aggregate principal amount of the notes due 2018 is adjusted for the amortization of the original issue discount, which approximated $0.3 million at May 31, 2017. The original issue discount effectively reduced the ultimate proceeds from the financing. The effective interest rate on the notes, including the amortization of the discount, was 6.704%. At May 31, 2017, the notes were adjusted for debt issuance costs, net of amortization, for approximately $0.2 million. The notes were redeemed on February 14, 2018.
[3] Includes the combination of the October 2009 initial issuance of $300.0 million aggregate principal amount and the May 2011 issuance of an additional $150.0 million aggregate principal amount of these notes. The $300.0 million aggregate principal amount of the notes due 2019 from the initial issuance is adjusted for the amortization of the original issue discount, which approximated $0.1 million at May 31, 2017. The original issue discount effectively reduced the ultimate proceeds from the October 2009 financing. The effective interest rate on the notes issued in October 2009, including the amortization of the discount, is 6.139%. The additional $150.0 million aggregate principal amount of the notes due 2019 issued in May 2011 is adjusted for the unamortized premium received at issuance, which approximated $2.3 million and $3.9 million at May 31, 2018 and 2017, respectively. The premium effectively increased the proceeds from the financing. The effective interest rate on the $150.0 million notes issued in May 2011 is 4.934%. At May 31, 2018 and 2017, the notes are adjusted for debt issuance costs, net of amortization, for approximately $0.6 million and $1.1 million, respectively.
[4] The $250.0 million face amount of the notes due 2045 is adjusted for the amortization of the original issue discount, which approximated $1.4 million and $1.5 million at May 31, 2018 and 2017, respectively. The original issue discount effectively reduced the ultimate proceeds from the financing. The effective interest rate on the notes, including the amortization of the discount, is 5.29%. In March 2017, as a further issuance of the 5.25% notes due 2045, we closed an offering of $50.0 million aggregate principal, which is adjusted for the unamortized premium received at issuance, which approximated $3.0 million and $3.1 million at May 31, 2018 and 2017, respectively. The premium effectively increased the proceeds from the financing. The effective interest rate on the $50.0 million notes issued March 2017 is 4.839%. At May 31, 2018 and 2017, the notes are adjusted for debt issuance costs, net of amortization, for approximately $3.1 million and $3.2 million, respectively.
[5] The $400.0 million face amount of the notes due 2027 is adjusted for the amortization of the original issue discount, which approximated $0.5 million at May 31, 2018 and 2017. The original issue discount effectively reduced the ultimate proceeds from the financing. The effective interest rate on the notes, including the amortization of the discount, is 3.767%. At May 31, 2018 and 2017, the notes are adjusted for debt issuance costs, net of amortization, for approximately $3.4 million and $3.8 million, respectively.
[6] The $300.0 million face amount of the notes due 2048 is adjusted for the debt issuance cost, net of amortization, which approximated $3.6 million at May 31, 2018. The effective interest rate on the notes is 4.25%.