Derivatives and Hedging

3 Months Ended

Aug. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities Disclosure

DERIVATIVES AND HEDGING

The Company enters into foreign currency derivative contracts to economically hedge the exposure to foreign currency fluctuations associated with the forecasted purchase of inventory and the foreign exchange risk associated with certain receivables denominated in foreign currencies. These derivative contracts are economic hedges and are not designated as cash flow hedges. The Company marks-to-market these instruments and records the changes in the fair value of these items in current earnings, and it recognizes the unrealized gain or loss in other current assets or liabilities. The notional value of the contracts as of August 31, 2015 and 2014 were $16.2 and $24.7, respectively. Unrealized gains of $1.1 and unrealized losses of $0.3 were recognized at August 31, 2015 and 2014, respectively, for the three month periods then ended. These amounts are reported in "Selling, general and administrative expenses" in the condensed consolidated statements of operations.