Note 9 - Deferred Financing Costs, Net

12 Months Ended

May 31, 2014

Deferred Financing Costs [Text Block] [Abstract]

Deferred Financing Costs [Text Block]

9. DEFERRED FINANCING COSTS, net

Changes in deferred financing costs, net for the fiscal 2014 and 2013 periods were as follows (in thousands):

	For the Years Ended May 31
	2014			2013
Balance at beginning of period	$	39,449			38,769
Debt issuance costs		-			11,412
Loss on extinguishment of debt		-			(5,625	)
Amortization		(6,333	)		(5,107	)
Balance at end of period	$	33,116			39,449

Deferred financing costs are capitalized and are amortized over the life of the related debt agreements using the effective interest rate method, except the Revolving Facility which uses the straight line method.

Debt issuance costs, loss on extinguishment of debt, and the Revolving Facility are further detailed in Note 12.