Fair Value Measurements

3 Months Ended

Aug. 31, 2012

Fair Value Measurements [Abstract]

Fair Value Measurements

Note 3: Fair Value Measurements

We measure certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents, supplemental executive retirement plan assets and liabilities, and foreign currency derivatives. The fair value of financial assets and liabilities can be determined based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value, as follows:

Level 1 – Observable inputs, such as quoted prices in active markets for identical assets or liabilities;

Level 2 – Inputs, other than the quoted prices in active markets, that are observable either directly or through corroboration with observable market data; and

Level 3 – Unobservable inputs, for which there is little or no market data for the assets or liabilities, such as internally-developed valuation models.

Our assets and liabilities measured at fair value on a recurring basis were determined as follows:

	At August 31, 2012
	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance
Assets
Money market funds	$	3,258	$	—	$	—	$	3,258
Supplemental executive retirement plan		2,616		—		—		2,616
Total assets measured at fair value	$	5,874	$	—	$	—	$	5,874
Liabilities
Supplemental executive retirement plan	$	2,616	$	—	$	—	$	2,616
Foreign exchange forward contracts		—		99		—		99
Total liabilities measured at fair value	$	2,616	$	99	$	—	$	2,715

	At May 31, 2012
	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Balance
Assets
Money market funds	$	2,507	$	—	$	—	$	2,507
Supplemental executive retirement plan		2,370		—		—		2,370
Foreign exchange forward contracts		—		179		—		179
Total assets measured at fair value	$	4,877	$	179	$	—	$	5,056
Liabilities
Supplemental executive retirement plan	$	2,370	$	—	$	—	$	2,370
Total liabilities measured at fair value	$	2,370	$	—	$	—	$	2,370

The fair value measures for our money market funds and supplemental executive retirement plan asset and liability were derived from quoted market prices in active markets and are included in Level 1 inputs. Foreign currency forward contracts were valued based on observable market spot and forward rates as of our reporting date and are included in Level 2 inputs.