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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
May 31, 2012
Changes in Asset Retirement Obligations

Changes in asset retirement obligations are as follows:

 

In thousands

    2012     2011  

Balance at beginning of year

    $ 4,455      $ 4,474   

Additions

      287        441   

Accretion expense

      175        194   

Settlements

      (1,038 )      (654 ) 
  

 

 

    

 

 

  

Balance at end of year

    $ 3,879      $ 4,455   
  

 

 

    

 

 

  
Calculation of Basic and Diluted EPS

Basic and Diluted EPS are calculated as follows:

 

In thousands except per share

    2012     2011     2010  

Earnings

       

Net income (loss)

    $ 7,476      $ (64,913 )    $ (38,853 ) 

Unvested restricted share participation

      (14 )      31        16   
  

 

 

    

 

 

    

 

 

  

Income (loss) allocated to common shareholders

    $ 7,462      $ (64,882 )    $ (38,837 ) 
  

 

 

    

 

 

    

 

 

  

Shares

       

Weighted-average shares outstanding

      27,927        27,836        27,752   

Contingently issuable shares

      2        2        6   

Unvested restricted shares

      (15 )      (13 )      (14 ) 
  

 

 

    

 

 

    

 

 

  

Basic weighted-average shares

      27,914        27,825        27,744   

Stock option, restricted share and award dilution

      102        —        —   
  

 

 

    

 

 

    

 

 

  

Diluted weighted-average shares(1)

      28,016        27,825        27,744   
  

 

 

    

 

 

    

 

 

  

Net income (loss) per share

       

Basic

    $ .27      $ (2.33 )    $ (1.40 ) 
  

 

 

    

 

 

    

 

 

  

Diluted

    $ .27      $ (2.33 )    $ (1.40 ) 
  

 

 

    

 

 

    

 

 

  

 

(1) Shares excluded due to antidilutive effect

       

Stock options, restricted shares and awards

      1,280        1,032        978