Financing Arrangements (Tables)

12 Months Ended

May. 31, 2015

Financing Arrangements

Summary of carrying amount of debt

	May 31,
	2015			2014
Revolving Credit Facility expiring March 24, 2020 with interest payable monthly	$	50.0		$	130.0
Industrial revenue bond (secured by property, plant and equipment) due August 1, 2018 with interest payable monthly		25.0			25.0
Note payable due March 9, 2017 with floating interest rate, payable semi-annually on June 1 and December 1		20.0			30.0
Convertible notes payable due March 1, 2016 with interest at 2.25% payable semi-annually on March 1 and September 1		48.0			45.7
Notes payable originally due January 15, 2022 with interest at 7.25% payable semi-annually on January 15 and July 15		—			332.6
Other1		11.0			70.7
Total debt		154.0			634.0
Current maturities of debt		(69.0	)		(69.7	)
Long-term debt	$	85.0		$	564.3

1. Included in Other is a mortgage loan (secured by Wood Dale, Illinois facility) due August 1, 2015 of $11.0 million and $11.0 million, 1.75% convertible notes due February 1, 2015 of $0 and $29.8 million, and a secured credit facility originally due April 23, 2015 of $0 million and $29.9 million at May 31, 2015 and 2014, respectively.

Schedule of borrowing activity under the Credit Agreement

	For the Year Ended May 31,
	2015			2014			2013
Maximum amount borrowed	$	215.0		$	190.0		$	395.0
Average daily borrowings		140.7			135.8			312.3
Average interest rate during the year		1.69	%		1.77	%		2.03	%

Schedule of interest expense associated with the convertible notes

	For the Year Ended May 31,
	2015		2014		2013
Coupon interest	$	1.5	$	3.1	$	3.7
Amortization of deferred financing fees		0.1		0.3		0.5
Amortization of discount		2.4		5.1		9.3
Interest expense related to convertible notes	$	4.0	$	8.5	$	13.5