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Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Nov. 30, 2025
Equity [Abstract]  
Summary of Tax Effects of Each Component of OCI The following table summarizes the tax effects on each component of OCI for the periods presented:

 

 

Three Months Ended

 

 

November 30, 2025

 

 

November 30, 2024

 

(In millions)

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

 

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

Currency translation adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation, net

$

1.1

 

 

$

-

 

 

$

1.1

 

 

$

(4.8

)

 

$

-

 

 

$

(4.8

)

Net investment hedge

 

(0.7

)

 

 

0.1

 

 

 

(0.6

)

 

 

-

 

 

 

-

 

 

 

-

 

Pension liability adjustment

 

-

 

 

 

-

 

 

 

-

 

 

 

(1.3

)

 

 

0.3

 

 

 

(1.0

)

Cash flow hedges

 

1.8

 

 

 

(0.4

)

 

 

1.4

 

 

 

(0.1

)

 

 

-

 

 

 

(0.1

)

Other comprehensive income (loss)

$

2.2

 

 

$

(0.3

)

 

$

1.9

 

 

$

(6.2

)

 

$

0.3

 

 

$

(5.9

)

 

 

Six Months Ended

 

 

November 30, 2025

 

 

November 30, 2024

 

(In millions)

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

 

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

Currency translation adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation, net

$

1.7

 

 

$

-

 

 

$

1.7

 

 

$

(2.7

)

 

$

-

 

 

$

(2.7

)

Net investment hedge

 

(0.7

)

 

 

0.1

 

 

 

(0.6

)

 

 

-

 

 

 

-

 

 

 

-

 

Pension liability adjustment

 

-

 

 

 

-

 

 

 

-

 

 

 

(1.3

)

 

 

0.3

 

 

 

(1.0

)

Cash flow hedges

 

1.8

 

 

 

(0.4

)

 

 

1.4

 

 

 

-

 

 

 

-

 

 

 

-

 

Other comprehensive income (loss)

$

2.8

 

 

$

(0.3

)

 

$

2.5

 

 

$

(4.0

)

 

$

0.3

 

 

$

(3.7

)
Summary of Changes in AOCI The following table summarizes the changes in AOCI for the periods presented:

 

 

 

Currency Translation Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

Currency

 

 

Net

 

 

Foreign

 

 

Pension

 

 

 

 

 

 

 

 

 

Translation,

 

 

Investment

 

 

Currency

 

 

Liability

 

 

Cash Flow

 

 

 

 

(In millions)

 

Net

 

 

Hedge

 

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

AOCI

 

Balance at May 31, 2025

 

$

(10.7

)

 

$

-

 

 

$

(10.7

)

 

$

7.3

 

 

$

(0.6

)

 

$

(4.0

)

OCI, before reclassifications

 

 

1.7

 

 

 

(0.7

)

 

 

1.0

 

 

 

-

 

 

 

2.5

 

 

 

3.5

 

Reclassification adjustments to net earnings (1)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(0.7

)

 

 

(0.7

)

Income tax effect

 

 

-

 

 

 

0.1

 

 

 

0.1

 

 

 

-

 

 

 

(0.4

)

 

 

(0.3

)

Balance at November 30, 2025

 

$

(9.0

)

 

$

(0.6

)

 

$

(9.6

)

 

$

7.3

 

 

$

0.8

 

 

$

(1.5

)

 

 

 

Currency Translation Adjustments

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

Currency

 

 

Net

 

 

Foreign

 

 

Pension

 

 

 

 

 

 

 

 

 

Translation,

 

 

Investment

 

 

Currency

 

 

Liability

 

 

Cash Flow

 

 

 

 

(In millions)

 

Net

 

 

Hedge

 

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

AOCI

 

Balance at May 31, 2024

 

$

(11.9

)

 

$

-

 

 

$

(11.9

)

 

$

8.4

 

 

$

(2.6

)

 

$

(6.1

)

OCI, before reclassifications

 

 

(2.7

)

 

 

-

 

 

 

(2.7

)

 

 

(4.0

)

 

 

(5.3

)

 

 

(12.0

)

Reclassification adjustments to net earnings (1)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2.7

 

 

 

5.3

 

 

 

8.0

 

Income tax effect

 

 

-

 

 

 

-

 

 

 

-

 

 

 

0.3

 

 

 

-

 

 

 

0.3

 

Balance at November 30, 2024

 

$

(14.6

)

 

$

-

 

 

$

(14.6

)

 

$

7.4

 

 

$

(2.6

)

 

$

(9.8

)

 

(1)
The consolidated statement of earnings classification of amounts reclassified to net income include:
a.
Cash flow hedges – See the disclosure in “Note 13 – Derivative Financial Instruments and Hedging Activities”.
b.
Pension liability adjustment – During the second quarter of fiscal 2025, the Company, through Tempel, purchased (using pension plan assets) an annuity contract from a third-party insurance company to transfer approximately 25% of the total projected benefit obligation of the Tempel Employees Pension Plan as of the purchase date. As a result of this transaction: (i) the Company recognized a non-cash settlement gain of $2.7 million within miscellaneous income (expense), net; (ii) the Company was relieved of all responsibility for these transferred pension obligations; and (iii) the insurance company is now required to pay and administer the retirement benefits owed to 472 beneficiaries.