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LONG-TERM DEBT AND CREDIT FACILITIES (Tables)
 12 Months Ended
May 31, 2016
Debt Disclosure [Abstract]  
Schedule of Debt
As of May 31, 2016 and 2015, long-term debt consisted of the following:
 
2016
 
2015
 
(in thousands)
Term loans (face amounts of $3,530,000 and $1,234,375 at May 31, 2016 and 2015, respectively, less unamortized debt issuance costs of $51,770 and $2,433 at May 31, 2016 and 2015, respectively)
$
3,478,230

 
$
1,231,942

Revolving credit facility
1,037,000

 
508,125

Capital lease obligations
56

 
—

Total long-term debt
4,515,286

 
1,740,067

Less current portion of long-term debt (face amounts of $145,938 and $62,500 at May 31, 2016 and 2015, respectively, less unamortized debt issuance costs of $10,442 and $716 at May 31, 2016 and 2015, respectively) and current portion of capital lease obligations of $46
135,542

 
61,784

Long-term debt, excluding current portion
$
4,379,744

 
$
1,678,283
Schedule of Maturities of Long-Term Debt
Maturity requirements on long-term debt as of May 31, 2016 by fiscal year are as follows (in thousands):
2017
$
145,938

2018
192,300

2019
219,700

2020
219,700

2021 and thereafter
3,789,362

Total
$
4,567,000
Schedule of Derivative Instruments
The table below presents the fair values of our derivative financial instruments designated as cash flow hedges included within accounts payable and accrued liabilities in the consolidated balance sheets (in thousands):
 
 
2016
 
2015
Interest rate swaps ($750 million notional)
 
$
10,775

 
$
6,157
Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss)
The table below presents the effects of our interest rate swaps on the consolidated statements of income and comprehensive income for the years ended May 31, 2016 and 2015 (in thousands):
 
 
2016
 
2015
Amount of loss recognized in other comprehensive loss
 
$
12,859

 
$
10,116

Amount of loss recognized in interest expense
 
$
8,240

 
$
3,958