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Fair Value Measurement - (Tables)
 9 Months Ended
Feb. 28, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value by Balance Sheet Grouping The following table presents the carrying value and estimated fair value of all of our financial instruments, including those carried at amortized cost, as of February 28, 2022 and May 31, 2021. The table also displays the classification level within the fair value hierarchy based on the degree of observability of the inputs used in the valuation technique for estimating fair value.
Table 12.1: Fair Value of Financial Instruments
 February 28, 2022Fair Value Measurement Level
(Dollars in thousands)Carrying ValueFair ValueLevel 1Level 2Level 3
Assets:    
Cash and cash equivalents$104,248 $104,248 $104,248 $— $— 
Restricted cash6,530 6,530 6,530 — — 
Equity securities, at fair value35,358 35,358 35,358 — — 
Debt securities trading, at fair value565,426 565,426 — 565,426 — 
Deferred compensation investments7,084 7,084 7,084 — — 
Loans to members, net29,446,995 29,935,210 — — 29,935,210 
Accrued interest receivable110,484 110,484 — 110,484 — 
Derivative assets50,901 50,901 — 50,901 — 
Total financial assets$30,327,026 $30,815,241 $153,220 $726,811 $29,935,210 
Liabilities:  
Short-term borrowings$4,428,057 $4,426,727 $— $4,426,727 $— 
Long-term debt21,521,734 21,850,664 — 12,922,319 8,928,345 
Accrued interest payable171,406 171,406 — 171,406 — 
Guarantee liability12,758 13,402 — — 13,402 
Derivative liabilities391,988 391,988 — 391,988 — 
Subordinated deferrable debt986,466 1,008,253 253,600 754,653 — 
Members’ subordinated certificates1,233,836 1,233,836 — — 1,233,836 
Total financial liabilities$28,746,245 $29,096,276 $253,600 $18,667,093 $10,175,583 

 May 31, 2021Fair Value Measurement Level
(Dollars in thousands)Carrying ValueFair ValueLevel 1Level 2Level 3
Assets:    
Cash and cash equivalents$295,063 $295,063 $295,063 $— $— 
Restricted cash8,298 8,298 8,298 — — 
Equity securities, at fair value35,102 35,102 35,102 — — 
Debt securities trading, at fair value576,175 576,175 — 576,175 — 
Deferred compensation investments7,222 7,222 7,222 — — 
Loans to members, net28,341,429 29,967,692 — — 29,967,692 
Accrued interest receivable107,856 107,856 — 107,856 — 
Derivative assets121,259 121,259 — 121,259 — 
Total financial assets$29,492,404 $31,118,667 $345,685 $805,290 $29,967,692 
Liabilities:  
Short-term borrowings$4,582,096 $4,582,329 $— $4,582,329 $— 
Long-term debt20,603,123 21,799,736 — 12,476,073 9,323,663 
Accrued interest payable123,672 123,672 — 123,672 — 
Guarantee liability10,041 10,841 — — 10,841 
Derivative liabilities584,989 584,989 — 584,989 — 
Subordinated deferrable debt986,315 1,062,748 265,200 797,548 — 
Members’ subordinated certificates1,254,660 1,254,660 — — 1,254,660 
Total financial liabilities$28,144,896 $29,418,975 $265,200 $18,564,611 $10,589,164 
Schedule of the Entity's Assets and Liabilities that are Measured at Fair Value on a Recurring Basis
The following table presents the carrying value and fair value of financial instruments reported in our consolidated financial statements at fair value on a recurring basis as of February 28, 2022 and May 31, 2021, and the classification of the valuation technique within the fair value hierarchy. We did not have any assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs during the three and nine months ended February 28, 2022 and 2021.

Table 12.2: Assets and Liabilities Measured at Fair Value on a Recurring Basis
 February 28, 2022May 31, 2021
(Dollars in thousands)Level 1Level 2TotalLevel 1Level 2Total
Assets:
Equity securities, at fair value$35,358 $— $35,358 $35,102 $— $35,102 
Debt securities trading, at fair value— 565,426 565,426 — 576,175 576,175 
Deferred compensation investments7,084 — 7,084 7,222 — 7,222 
Derivative assets— 50,901 50,901 — 121,259 121,259 
Liabilities:
Derivative liabilities$— $391,988 $391,988 $— $584,989 $584,989