XML 24 R55.htm IDEA: XBRL DOCUMENT v2.4.0.8
Employee Benefit Plans (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
May 31, 2014
May 31, 2013
May 31, 2012
Amounts recognized in the consolidated balance sheets      
Accumulated other comprehensive loss into earnings $ 2.1    
Unrealized losses recorded in accumulated other comprehensive loss 3.6    
Cash balance pension plan
     
Employee benefit plans      
Interest crediting rate as a percentage of average 30-year treasury rate 100.00%    
Average period of treasury rate used in determination of interest crediting rate 30 years    
Average interest crediting rate (as a percent) 4.50%    
Defined Benefit Pension Plans
     
Change in projected benefit obligation:      
Projected benefit obligation at beginning of year 130.2 123.0  
Service cost 2.2 2.0 1.6
Interest cost 5.1 5.0 5.5
Participant contributions 0.4 0.4  
Net actuarial loss 5.7 3.4  
Benefit payments (5.1) (5.8)  
Plan change 0.6    
Foreign currency adjustment 2.8 2.2  
Projected benefit obligation at end of year 141.9 130.2 123.0
Reconciliation of pension assets measured at fair value      
Fair value of plan assets at beginning of year 101.6 87.7  
Actual return on plan assets 10.5 12.9  
Employer contributions 6.2 4.5  
Participant contributions 0.4 0.4  
Benefit payments (5.1) (5.8)  
Foreign currency adjustment 2.4 1.9  
Fair value of plan assets at end of year 116.0 101.6 87.7
Funded status at end of year (25.9) (28.6)  
Amounts recognized in the consolidated balance sheets      
Accrued liabilities (3.4) (3.2)  
Other liabilities and deferred income (22.5) (25.4)  
Funded status at end of year (25.9) (28.6)  
Amounts recognized in accumulated other comprehensive loss      
Tax on amounts recognized in accumulated other comprehensive loss 18.4 18.8  
Actuarial loss 35.0 33.9  
Prior service cost 1.1 0.7  
Total 36.1 34.6  
Projected benefit obligation in excess of plan assets      
Projected benefit obligation 141.9 130.2  
Fair value of plan assets 116.0 101.6  
Accumulated benefit obligation in excess of plan assets      
Projected benefit obligation 85.3 83.8  
Accumulated benefit obligation 84.8 83.4  
Fair value of plan assets 63.3 57.5  
Accumulated benefit obligation 134.4 124.7  
Net Periodic Benefit Cost      
Service cost 2.2 2.0 1.6
Interest cost 5.1 5.0 5.5
Expected return on plan assets (5.8) (6.0) (6.6)
Amortization of prior service cost 0.1 0.2 0.2
Recognized net actuarial loss 2.0 1.9 1.0
Total 3.6 3.1 1.7
Estimated amounts that will be amortized from accumulated other comprehensive loss into expense over the next fiscal year      
Net actuarial loss 2.0    
Prior service cost 0.2    
Total $ 2.2    
Defined Benefit Pension Plans | Outside directors
     
Employee benefit plans      
Benefits paid in cash as percentage of the annual retainer fees payable to active outside director 25.00%    
Defined Benefit Pension Plans | Minimum | Outside directors
     
Employee benefit plans      
Minimum age of retirement 65 years    
Required minimum years of service as a director 5 years    
Defined Benefit Pension Plans | Maximum | Outside directors
     
Employee benefit plans      
Period for which benefits will be payable 10 years    
Domestic plans
     
Key weighted-average assumptions used in the measurement of the company's projected benefit obligations      
Discount rate (as a percent) 4.20% 4.30%  
Rate of compensation increase (as a percent) 2.50% 2.50%  
Weighted-average assumptions used to determine net periodic pension expense      
Discount rate (as a percent) 4.30% 4.10% 5.30%
Rate of compensation increase (as a percent) 2.50% 2.50% 3.50%
Expected long-term rate on plan assets (as a percent) 7.50% 8.00% 8.00%
Plan Assets      
Actual asset allocation (as a percent) 100.00% 100.00%  
Domestic plans | Equity securities
     
Plan Assets      
Actual asset allocation (as a percent) 64.00% 61.00%  
Domestic plans | Fixed income securities
     
Plan Assets      
Actual asset allocation (as a percent) 17.00% 20.00%  
Domestic plans | Other
     
Plan Assets      
Actual asset allocation (as a percent) 19.00% 19.00%  
Domestic plans | Minimum | Equity securities
     
Plan Assets      
Target Asset Allocation (as a percent) 45.00%    
Domestic plans | Minimum | Fixed income securities
     
Plan Assets      
Target Asset Allocation (as a percent) 15.00%    
Domestic plans | Minimum | Other
     
Plan Assets      
Target Asset Allocation (as a percent) 0.00%    
Domestic plans | Maximum | Equity securities
     
Plan Assets      
Target Asset Allocation (as a percent) 75.00%    
Domestic plans | Maximum | Fixed income securities
     
Plan Assets      
Target Asset Allocation (as a percent) 25.00%    
Domestic plans | Maximum | Other
     
Plan Assets      
Target Asset Allocation (as a percent) 25.00%    
International plans
     
Key weighted-average assumptions used in the measurement of the company's projected benefit obligations      
Discount rate (as a percent) 3.20% 3.70%  
Rate of compensation increase (as a percent) 3.00% 3.00%  
Weighted-average assumptions used to determine net periodic pension expense      
Discount rate (as a percent) 3.70% 4.10% 5.50%
Rate of compensation increase (as a percent) 3.00% 3.00% 3.00%
Expected long-term rate on plan assets (as a percent) 3.70% 4.20% 5.80%