Comprehensive Income (Loss) (Tables)

12 Months Ended

May 31, 2024

Equity [Abstract]

Summary of Tax Effects of Each Component of Other Comprehensive Income (Loss)

The following table summarizes the tax effects of each component of other comprehensive income (loss) for the prior three fiscal years:

	2024									2023									2022
(In millions)	Before- Tax			Tax			Net-of- Tax			Before- Tax			Tax			Net-of- Tax			Before- Tax			Tax			Net-of- Tax
Foreign currency translation	$	(1.3	)	$	-		$	(1.3	)	$	(6.8	)	$	-		$	(6.8	)	$	(3.3	)	$	-		$	(3.3	)
Pension liability adjustment		3.1			(0.7	)		2.4			(0.8	)		0.1			(0.7	)		8.6			(2.0	)		6.6
Cash flow hedges		(6.7	)		1.6			(5.1	)		4.5			(1.0	)		3.5			(52.1	)		12.3			(39.8	)
Other comprehensive loss	$	(4.9	)	$	0.9		$	(4.0	)	$	(3.1	)	$	(0.9	)	$	(4.0	)	$	(46.8	)	$	10.3		$	(36.5	)

Components of Changes in AOCI

The components of the changes in AOCI at the end of the prior three fiscal years were as follows:

										Accumulated
	Foreign			Pension			Cash			Other
	Currency			Liability			Flow			Comprehensive
(In millions)	Translation			Adjustment			Hedges			Income (Loss)
Balance at May 31, 2022	$	(3.8	)	$	6.7		$	(1.0	)	$	1.9
Other comprehensive loss before reclassifications		(6.8	)		(1.0	)		(10.1	)		(17.9	)
Reclassification adjustments to income (a)		-			0.2			14.6			14.8
Income tax effect		-			0.1			(1.0	)		(0.9	)
Balance at May 31, 2023	$	(10.6	)	$	6.0		$	2.5		$	(2.1	)
Other comprehensive income (loss) before reclassifications		(1.3	)		3.5			1.6			3.8
Reclassification adjustments to income (a)		-			(0.4	)		(8.3	)		(8.7	)
Income tax effect		-			(0.7	)		1.6			0.9
Balance at May 31, 2024	$	(11.9	)	$	8.4		$	(2.6	)	$	(6.1	)

(a)The statement of earnings classification of amounts reclassified to net income include:

(1)Pension liability adjustment – As disclosed in “Note L – Employee Retirement Plans”; and

(2)Cash flow hedges – disclosed in “Note P – Derivative Financial Instruments and Hedging Activities.”