Discontinued Operations

6 Months Ended

Nov. 30, 2013

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations and Held for Sale Businesses

Discontinued Operations

On March 22, 2013, our subsidiaries exchanged their expanded shale and clay lightweight aggregates manufacturing business for the ready-mix concrete business of subsidiaries of Trinity Industries, Inc. in east Texas and southwest Arkansas. Pursuant to the agreements, we transferred our expanded shale and clay manufacturing facilities in Streetman, Texas; Boulder, Colorado and Frazier Park, California; and our DiamondPro® product line in exchange for 42 ready-mix concrete plants stretching from Texarkana to Beaumont in east Texas and in southwestern Arkansas, two aggregate distribution facilities in Beaumont and Port Arthur, Texas, and related assets.

The following table summarizes the revenue, earnings before and net of income tax expense on all discontinued operations for the three- and six-month periods ended November 30, 2012:

	Three months ended				Six months ended
		November 30,			November 30,
In thousands		2012			2012
Revenue from discontinued operations		$	11,629		$	28,914
Income from discontinued operations, before taxes		$	843		$	5,865
Income (loss) from discontinued operations, net of taxes		$	(933	)	$	3,805