Long-Term Debt (Tables)

9 Months Ended

Feb. 28, 2014

Debt Instruments [Abstract]

Schedule of Long-term Debt Instruments

The following is a summary of long-term debt outstanding:

(Dollars in thousands)	February 28,  2014		May 31,  2013
Unsecured long-term debt:
Medium-term notes sold through dealers	$	1,783,171	$	1,528,424
Medium-term notes sold to members		119,098		182,790
Subtotal		1,902,269		1,711,214
Unamortized discount		(616)		(627)
Total unsecured medium-term notes		1,901,653		1,710,587
Unsecured notes payable		4,032,167		3,709,074
Unamortized discount		(796)		(920)
Total unsecured notes payable		4,031,371		3,708,154
Total unsecured long-term debt		5,933,024		5,418,741
Secured long-term debt:
Collateral trust bonds		5,634,372		4,639,372
Unamortized discount		(178,564)		(181,640)
Total secured collateral trust bonds		5,455,808		4,457,732
Secured notes payable		1,514,088		819,960
Total secured long-term debt		6,969,896		5,277,692
Total long-term debt	$	12,902,920	$	10,696,433