XML 43 R35.htm IDEA: XBRL DOCUMENT v3.26.1
Other Comprehensive Income (Loss) (Tables)
 9 Months Ended
Feb. 28, 2026
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

 

 

February 28, 2026

 

 

February 28, 2025

 

(In millions)

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

 

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

Currency translation adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation, net

$

3.8

 

 

$

-

 

 

$

3.8

 

 

$

(3.7

)

 

$

-

 

 

$

(3.7

)

Net investment hedge

 

(1.3

)

 

 

0.3

 

 

 

(1.0

)

 

 

-

 

 

 

-

 

 

 

-

 

Pension liability adjustment

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Cash flow hedges

 

1.0

 

 

 

(0.2

)

 

 

0.8

 

 

 

(2.4

)

 

 

0.5

 

 

 

(1.9

)

Other comprehensive income (loss)

$

3.5

 

 

$

0.1

 

 

$

3.6

 

 

$

(6.1

)

 

$

0.5

 

 

$

(5.6

)

 

 

Nine Months Ended

 

 

February 28, 2026

 

 

February 28, 2025

 

(In millions)

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

 

Before-Tax

 

 

Tax

 

 

Net-of-Tax

 

Currency translation adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation, net

$

5.5

 

 

$

-

 

 

$

5.5

 

 

$

(6.4

)

 

$

-

 

 

$

(6.4

)

Net investment hedge

 

(2.0

)

 

 

0.4

 

 

 

(1.6

)

 

 

-

 

 

 

-

 

 

 

-

 

Pension liability adjustment

 

-

 

 

 

-

 

 

 

-

 

 

 

(1.3

)

 

 

0.3

 

 

 

(1.0

)

Cash flow hedges

 

2.8

 

 

 

(0.6

)

 

 

2.2

 

 

 

(2.4

)

 

 

0.5

 

 

 

(1.9

)

Other comprehensive income (loss)

$

6.3

 

 

$

(0.2

)

 

$

6.1

 

 

$

(10.1

)

 

$

0.8

 

 

$

(9.3

)
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

 

 

5.5

 

 

 

(2.0

)

 

 

3.5

 

 

 

-

 

 

 

4.5

 

 

 

8.0

 

Reclassification adjustments to net earnings (1)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(1.7

)

 

 

(1.7

)

Income tax effect

 

 

-

 

 

 

0.4

 

 

 

0.4

 

 

 

-

 

 

 

(0.6

)

 

 

(0.2

)

Balance at February 28, 2026

 

$

(5.2

)

 

$

(1.6

)

 

$

(6.8

)

 

$

7.3

 

 

$

1.6

 

 

$

2.1

 

 

 

 

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

 

 

(6.4

)

 

 

-

 

 

 

(6.4

)

 

 

(4.0

)

 

 

(8.6

)

 

 

(19.0

)

Reclassification adjustments to net earnings (1)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2.7

 

 

 

6.2

 

 

 

8.9

 

Income tax effect

 

 

-

 

 

 

-

 

 

 

-

 

 

 

0.3

 

 

 

0.5

 

 

 

0.8

 

Balance at February 28, 2025

 

$

(18.3

)

 

$

-

 

 

$

(18.3

)

 

$

7.4

 

 

$

(4.5

)

 

$

(15.4

)

 

 

 

(1)
The consolidated statements of earnings classification of amounts reclassified to net earnings include:
a.
Cash flow hedges – See the disclosure in “Note 14 – 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.