Derivatives and Hedging (Tables)

9 Months Ended

Feb. 29, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Instruments for Gains or Losses Initially Recognized in AOCI in Consolidated Balance Sheet

The following table summarizes the location and effects of the Company’s derivatives instruments on the Consolidated Statements of Comprehensive Income and Consolidated Statements of Operations for gains or losses initially recognized in AOCI in the Consolidated Balance Sheet:

	Pretax gain/(loss) recognized in AOCI							Pretax gain/(loss) reclassified from AOCI into income
(In thousands)	Three Months Ended							Three Months Ended
Derivatives in hedging relationships	February 29, 2020			February 28, 2019			Income Statement Location	February 29, 2020			February 28, 2019
Interest Rate Swap (Cash Flow)	$	(3,077	)	$	-		Interest Expense	$	22		$	-
Cross Currency Swap (Cash Flow)		(2,355	)		-		Interest Expense		47			-
Cross Currency Swap (Cash Flow)		-			-		Foreign Exchange Gain/(Loss)		(1,986	)		-
Cross Currency Swap (Net Investment)		(3,314	)		(400	)	Gain or (loss) on sale of subsidiary		-			-
Total	$	(8,746	)	$	(400	)		$	(1,917	)	$	-
	Pretax gain/(loss) recognized in AOCI							Pretax gain/(loss) reclassified from AOCI into income
(In thousands)	Nine Months Ended							Nine Months Ended
Derivatives in hedging relationships	February 29, 2020			February 28, 2019			Income Statement Location	February 29, 2020			February 28, 2019
Interest Rate Swap (Cash Flow)	$	(3,077	)	$	-		Interest Expense	$	22		$	-
Cross Currency Swap (Cash Flow)		(2,355	)		-		Interest Expense		47			-
Cross Currency Swap (Cash Flow)		-			-		Foreign Exchange Gain/(Loss)		(1,986	)		-
Cross Currency Swap (Net Investment)		(1,845	)		3,336		Gain or (loss) on sale of subsidiary		-			-
Total	$	(7,277	)	$	3,336			$	(1,917	)	$	-

Schedule of Fair Values of Qualifying and Non-Qualifying Instruments Used in Hedging Transactions

The fair values of qualifying and non-qualifying instruments used in hedging transactions as of February 29, 2020 and May 31, 2019 are as follows:

(In thousands)		Fair Value
Derivatives Designated as Hedging Instruments	Balance Sheet Location	February 29, 2020		May 31, 2019
Assets:
Interest Rate Swap (Fair Value)	Other Current Assets	$	-	$	513
Cross Currency Swap (Net Investment)	Other Current Assets		5,592		2,482
Cross Currency Swap (Cash Flow)	Other Current Assets		1,562		-
Cross Currency Swap (Net Investment)	Other Assets (Long-Term)		4,773		6,163
Liabilities:
Interest Rate Swap (Fair Value)	Other Accrued Liabilities		-		230
Interest Rate Swap (Cash Flow)	Other Accrued Liabilities		578		-
Cross Currency Swap (Net Investment)	Other Accrued Liabilities		504		-
Cross Currency Swap (Net Investment)	Other Long-Term Liabilities		14,558		4,276
Cross Currency Swap (Cash Flow)	Other Long-Term Liabilities		3,990		-
Interest Rate Swap (Cash Flow)	Other Long-Term Liabilities		2,522		-

(In thousands)		Fair Value
Derivatives Not Designated as Hedging Instruments	Balance Sheet Location	February 29, 2020		May 31, 2019
Assets:
Foreign Currency Exchange	Other Current Assets	$	193	$	51