Investment Expense (Income), Net

6 Months Ended

Nov. 30, 2018

Other Income And Expenses [Abstract]

Investment Expense (Income), Net

NOTE 7 — INVESTMENT EXPENSE (INCOME), NET

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

	Three Months Ended						Six Months Ended
	November 30,			November 30,			November 30,			November 30,
(In thousands)	2018			2017			2018			2017
Interest (income)	$	(828	)	$	(1,297	)	$	(1,732	)	$	(2,191	)
Net loss (gain) on marketable securities		8,520			(2,037	)		8,134			(4,897	)
Dividend (income)		(659	)		(405	)		(1,802	)		(1,104	)
Investment expense (income), net	$	7,033		$	(3,739	)	$	4,600		$	(8,192	)

Net Loss (Gain) on Marketable Securities

During the second quarter of fiscal 2019, we recognized gross realized losses on sales of marketable securities of $1.0 million and unrealized losses on trading securities of $1.0 million. For the first half of fiscal 2019, we recognized realized gains and losses on sales of securities of $0.2 million and $1.2 million, respectively, and unrealized gains and losses on trading securities of $0.5 million and $1.1 million, respectively.  During the three and six-month periods ended November 30, 2018, we recognized $6.5 million in unrealized losses on marketable equity securities as a result of our adoption of ASU 2016-01.

During the second quarter of fiscal 2018, we recognized gross realized gains on sales of marketable securities of $2.0 million.  For the first half of fiscal 2018, we recognized gross realized gains and losses on sales of marketable securities of $6.1 million and $1.2 million, respectively.