Postretirement Benefits (Tables) - Postretirement Benefits - Unfunded-Health-Care-Benefit Plans

12 Months Ended

May 31, 2019

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, 2019:

	U.S. Plans									Non-U.S. Plans
(In thousands)	2019			2018			2017			2019		2018		2017
Service cost - benefits earned during the period	$	-		$	-		$	-		$	1,507	$	1,307	$	1,097
Interest cost on the accumulated obligation		192			173			229			1,122		939		854
Amortization of:
Prior service (credit)		(219	)		(220	)		(235	)
Net actuarial (gains) losses		(26	)		24						442		332		230
Net Postretirement Benefit (Income) Cost	$	(53	)	$	(23	)	$	(6	)	$	3,071	$	2,578	$	2,181

Changes in Benefit Obligations

The changes in benefit obligations of the plans at May 31, 2019 and 2018 were as follows:

	U.S. Plans						Non-U.S. Plans
(In thousands)	2019			2018			2019			2018
Accumulated postretirement benefit obligation at beginning of year	$	5,368		$	5,892		$	33,281		$	27,868
Service cost								1,507			1,307
Interest cost		192			173			1,122			939
Benefit payments		(287	)		(297	)		(664	)		(604	)
Actuarial (gains) losses		(283	)		(400	)		3,801			2,638
Currency exchange rate changes								(1,384	)		1,133
Accumulated and accrued postretirement benefit obligation at end of year	$	4,990		$	5,368		$	37,663		$	33,281

Amounts Recognized in Consolidated Balance Sheet

Amounts recognized in the Consolidated Balance Sheets for the years ended May 31, 2019 and 2018 are as follows:

	U.S. Plans						Non-U.S. Plans
(In thousands)	2019			2018			2019			2018
Current liabilities	$	(423	)	$	(427	)	$	(741	)	$	(696	)
Noncurrent liabilities		(4,567	)		(4,941	)		(36,922	)		(32,585	)
Net Amount Recognized	$	(4,990	)	$	(5,368	)	$	(37,663	)	$	(33,281	)

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)	2019		2018		2019			2018
Net actuarial gain (loss)	$	381	$	124	$	(12,891	)	$	(9,951	)
Prior service credits		667		887
Total recognized in accumulated other comprehensive income not affecting retained    earnings	$	1,048	$	1,011	$	(12,891	)	$	(9,951	)

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)	2019			2018			2019			2018
Changes in plan assets and benefit obligations recognized in other comprehensive    income:
Prior service cost	$	-		$	-		$	-		$	-
Net loss (gain) arising during the year		(283	)		(400	)		3,801			2,638
Effect of exchange rates on amounts included in AOCI								(419	)		291
Amounts recognized as a component of net periodic benefit cost:
Amortization or curtailment recognition of prior service credit (cost)		219			220
Amortization or settlement recognition of net gain (loss)		26			(24	)		(442	)		(332	)
Total recognized in other comprehensive loss (income)	$	(38	)	$	(204	)	$	2,940		$	2,597

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	2019			2018			2019			2018
Discount rate		3.44	%		4.03	%		3.22	%		3.70	%
Current healthcare cost trend rate		7.29	%		7.86	%		5.77	%		6.02	%
Ultimate healthcare cost trend rate		4.36	%		4.36	%		3.70	%		4.20	%
Year ultimate healthcare cost trend rate will be realized		2037			2037			2040			2032
	U.S. Plans									Non-U.S. Plans
Net Periodic Postretirement Cost	2019			2018			2017			2019			2018			2017
Discount rate		4.03	%		3.61	%		3.76	%		3.70	%		3.61	%		3.92	%
Healthcare cost trend rate		7.86	%		14.75	%		10.37	%		6.02	%		5.85	%		5.98	%
Ultimate healthcare cost trend rate		4.36	%		4.36	%		4.36	%		4.20	%		4.20	%		4.20	%
Year ultimate healthcare cost trend rate will be realized		2037			2037			2037			2032			2030			2030

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

We utilize a sensitivity analysis to measure the potential impact of changes in our healthcare cost trend rate on our Consolidated Financial Statements. 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, 2019 and 2018:

	U.S. Plans						Non-U.S. Plans
(In thousands)	2019			2018			2019			2018
1% Increase in Healthcare Cost Trend Rate
Accumulated benefit obligation	$	124		$	185		$	8,300		$	6,978
Postretirement cost		7			7			731			673
1% Decrease in Healthcare Cost Trend Rate
Accumulated benefit obligation	$	(112	)	$	(163	)	$	(6,390	)	$	(5,391	)
Postretirement cost		(6	)		(6	)		(539	)		(493	)