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Employee Benefit Plans (Tables)
 12 Months Ended
May 31, 2024
Retirement Benefits [Abstract]  
Schedule of Obligations and Funded Status
Information on the Pension Plan obligations and funded status are presented in the following table at May 31:

(In thousands)
20242023
Change in benefit obligation:
Projected benefit obligation, beginning of year$77,739 $84,546 
Interest cost3,423 3,089 
Actuarial gain(3,052)(6,556)
Benefits paid(3,128)(3,340)
Plan settlements (1)
(10,671)— 
Projected benefit obligation, end of year$64,311 $77,739 
Change in plan assets:  
Fair value of plan assets, beginning of year$60,038 $66,723 
Actual gain (loss) on plan assets1,212 (3,345)
Employer contributions821 — 
Benefits paid(3,128)(3,340)
Plan settlements (1)
(10,671)— 
Fair value of plan assets, end of year$48,272 $60,038 
Funded status-net amount recognized$(16,039)$(17,701)
(1)Plan settlements in fiscal 2024 are the result of lump-sum payments to participants exiting the Pension Plan.
Schedule of Components of Net Periodic Pension (Benefit) Cost
The components of net periodic pension cost (benefit) are summarized as follows for the fiscal years ended May 31:
(In thousands)
20242023
Interest cost$3,423 $3,089 
Expected return on assets(2,521)(3,350)
Plan settlements loss461 — 
Net periodic pension cost (benefit)$1,363 $(261)
Schedule of Weighted Average Assumptions Used to Determine Benefit Obligations
The following weighted average assumptions were used to determine the PBO for the Pension Plan for the fiscal years ended May 31:
20242023
Discount rate5.36 %4.89 %
The following weighted average assumptions were used to determine net periodic pension cost (benefit) for the Pension Plan for the fiscal years ended May 31:
20242023
Discount rate4.89 %4.11 %
Expected return on plan assets4.90 %5.20 %
Schedule of Asset Allocations in the Pension Plan
The asset allocations in the Pension Plan are as follows at May 31: 
202420242023
 Target Asset
Allocation		Actual Asset
Allocation		Actual Asset
Allocation
Large cap equity26.0 %25.7 %27.3 %
Small cap equity5.0 %4.5 %5.2 %
International equity8.0 %7.9 %8.8 %
Fixed income45.0 %45.9 %44.8 %
Absolute return strategy funds16.0 %12.5 %13.6 %
Cash0.0 %3.5 %0.3 %
Total100.0 %100.0 %100.0 %
Information on the Pension Plan assets, using the fair value hierarchy discussed in Note 1 entitled Significant Accounting Polices, is as follows as of May 31:
20242023
(In thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents$1,813 $— $— $1,813 $211 $— $— $211 
U.S. government
   securities		1,155 3,199 — 4,354 2,983 2,280 — 5,263 
Corporate debt— 17,288 — 17,288 — 21,437 — 21,437 
Municipal obligations— 143 — 143 — 151 — 151 
Mutual funds:
   U.S. securities20,881 — — 20,881 27,681 — — 27,681 
   International securities3,793 — — 3,793 5,295 — — 5,295 
Total$27,642 $20,630 $— $48,272 $36,170 $23,868 $— $60,038