Acquisition (Tables)

6 Months Ended

Nov. 30, 2025

Business Combination [Abstract]

Summary of Consideration Transferred and Estimated Fair Value Assigned to Assets Acquired and Liabilities Assumed

The following table summarizes the consideration transferred and the estimated fair value assigned to the assets acquired and liabilities assumed at the acquisition date.

							Revised
							Valuation
				Measurement			as of
	Preliminary			Period			November 30,
(In millions)	Valuation			Adjustments			2025
Consideration Transferred
Cash Consideration	$	44.2		$	-		$	44.2
Contingent Consideration - Cash		4.7			-			4.7
Subtotal		48.9			-			48.9
Cash Capital Contribution		5.1			-			5.1
Contingent Capital Contribution - Cash		0.3			-			0.3
Subtotal		5.4			-			5.4
Contribution of Tempel’s electrical steel subsidiary in Nagold, Germany		12.0			-			12.0
Total Consideration Transferred	$	66.3			-		$	66.3
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents	$	42.6		$	-		$	42.6
Receivables		39.6			-			39.6
Inventories		40.4			-			40.4
Deferred income tax assets		3.2			-			3.2
Prepaid expenses		4.9			-			4.9
Operating lease right-of-use assets		16.5			-			16.5
Finance lease right-of-use assets		8.6			-			8.6
Property, plant and equipment		98.8			-			98.8
Intangible assets		24.0			-			24.0
Other assets		1.0			-			1.0
Total identifiable assets		279.6			-			279.6
Accounts payable		(34.7	)		-			(34.7	)
Accrued compensation and related taxes		(9.3	)		-			(9.3	)
Current operating lease liabilities		(2.7	)		-			(2.7	)
Current finance lease liabilities		(2.4	)		-			(2.4	)
Noncurrent operating lease liabilities		(13.9	)		-			(13.9	)
Noncurrent finance lease liabilities		(6.2	)		-			(6.2	)
Current maturities of long-term debt and short-term debt		(25.9	)		-			(25.9	)
Deferred income tax liabilities		(16.9	)		0.5			(16.4	)
Long-term debt		(25.3	)		-			(25.3	)
Pension and other postretirement benefit obligations		(14.3	)		-			(14.3	)
Other non-current liabilities		(1.9	)		-			(1.9	)
Total identifiable liabilities		(153.5	)		0.5			(153.0	)
Sitem Group - Net identifiable assets		126.1			0.5			126.6
Goodwill		22.0			(0.5	)		21.5
Total – Sitem Group		148.1			-			148.1
Redeemable NCI - Net Put option		(10.7	)		-			(10.7	)
Redeemable NCI		(71.1	)		-			(71.1	)
Total - Redeemable NCI		(81.8	)		-			(81.8	)
Total	$	66.3		$	-		$	66.3

Summary of Purchase Price Allocation and Weighted Average Remaining Useful Lives for Identifiable Intangible Assets Acquired

The following table summarizes the purchase price allocation and weighted average remaining useful lives for identifiable intangible assets acquired as of the acquisition date:

			Weighted Average
(In millions)			Estimated Useful	Valuation
Category	Amount		Life (Years)	Methodology
Customer relationships	$	12.3	13	Multi-period Excess Earnings Method
Technological know-how		7.7	8	Relief-from-Royalty Method
Favorable right-of-use lease asset		2.7	7	Discounted Cash Flow Method
Software		1.3	3	Cost
Total acquired identifiable intangible assets	$	24.0

Summary of Pro Forma Information

The pro forma information is presented for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place on June 1, 2024.

	Three Months Ended				Six Months Ended
	November 30,		November 30,		November 30,		November 30,
(In millions, except per share amounts)	2025		2024		2025		2024
Net Sales	$	871.9	$	797.0	$	1,744.8	$	1,694.2
Net earnings attributable to controlling interest	$	19.0	$	12.2	$	56.4	$	39.6
Diluted earnings per share attributable to controlling interest	$	0.37	$	0.24	$	1.13	$	0.78