Derivatives and Hedging (Tables)

3 Months Ended

Aug. 31, 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 our derivatives instruments on the Consolidated Statements of Comprehensive Income and Consolidated Statements of Income 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	August 31, 2020			August 31, 2019		Income statement location	August 31, 2020			August 31, 2019
Interest rate swap (cash flow)	$	(598	)	$	-	Interest expense	$	(766	)	$	-
Cross currency swap (cash flow)		(7,356	)		-	Interest income		191			-
Cross currency swap (cash flow)		-			-	Foreign exchange (loss)		(7,455	)		-
Cross currency swap (net investment)		(23,133	)		1,397	Gain or (loss) on sale of subsidiary		-			-
Total	$	(31,087	)	$	1,397		$	(8,030	)	$	-

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 August 31, 2020 and May 31, 2020 are as follows:

(In thousands)		Fair Value
Derivatives Designated as Hedging Instruments	Balance Sheet Location	August 31, 2020		May 31, 2020
Assets:
Cross Currency Swap (Net Investment)	Other Current Assets	$	5,652	$	5,352
Cross Currency Swap (Cash Flow)	Other Current Assets		632		750
Cross Currency Swap (Net Investment)	Other Assets (Long-Term)		-		12,409
Liabilities:
Interest Rate Swap (Cash Flow)	Other Accrued Liabilities	$	3,238	$	2,981
Cross Currency Swap (Net Investment)	Other Accrued Liabilities		701		294
Cross Currency Swap (Net Investment)	Other Long-Term Liabilities		29,537		18,204
Cross Currency Swap (Cash Flow)	Other Long-Term Liabilities		11,320		3,608
Interest Rate Swap (Cash Flow)	Other Long-Term Liabilities		4,761		5,187

(In thousands)		Fair Value
Derivatives Not Designated as Hedging Instruments	Balance Sheet Location	August 31, 2020		May 31, 2019
Liabilities:
Foreign Currency Exchange	Other Accrued Liabilities	$	28	$	53