XML 38 R25.htm IDEA: XBRL DOCUMENT v3.5.0.2
LONG-TERM DEBT AND CREDIT FACILITIES (Tables)
 3 Months Ended
Aug. 31, 2016
Debt Disclosure [Abstract]  
Schedule of outstanding debt
As of August 31, 2016 and May 31, 2016, long-term debt consisted of the following:
 
August 31, 2016
 
May 31, 2016
 
 
 
 
 
(in thousands)
Term loans (face amounts of $3,528,288 and $3,530,000 at August 31, 2016 and May 31, 2016, respectively, less unamortized debt issuance costs of $49,156 and $51,770 at August 31, 2016 and May 31, 2016, respectively)
$
3,479,132

 
$
3,478,230

Revolving credit facility
992,500

 
1,037,000

Capital lease obligations
46

 
56

Total long-term debt
4,471,678

 
4,515,286

Less current portion of long-term debt (face amounts of $192,300 and $145,938 at August 31, 2016 and May 31, 2016, respectively, less unamortized debt issuance costs of $10,327 and $10,442 at August 31, 2016 and May 31, 2016, respectively) and current portion of capital lease obligations of $39 and $46 at August 31, 2016 and May 31, 2016, respectively
182,012

 
135,542

Long-term debt, excluding current portion
$
4,289,666

 
$
4,379,744
Schedule of maturities of long-term debt
Maturity requirements on long-term debt as of August 31, 2016 are as follows (in thousands):
Fiscal years ending May 31,
 
2017
$
144,264

2018
192,307

2019
219,700

2020
219,700

2021
2,749,500

2022
10,450

2023 and thereafter
984,913

Total
$
4,520,834
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:
 
 
August 31, 2016
 
May 31, 2016
 
 
 
 
 
 
 
(in thousands)
 
 
 
 
 
Interest rate swaps ($750 million notional)
 
$
12,083

 
$
10,775
Schedule of derivative instrument effect on other comprehensive income (loss)
The table below presents the effects of our interest rate swaps on the consolidated statements of income and other comprehensive loss for the three months ended August 31, 2016 and 2015:
 
Three Months Ended
 
August 31, 2016
 
August 31, 2015
 
 
 
 
 
(in thousands)
 
 
 
 
Amount of loss recognized in other comprehensive loss
$
3,205

 
$
32

Amount of loss recognized in interest expense
$
1,897

 
$
1,734