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LONG-TERM DEBT AND CREDIT FACILITIES (Tables) | 6 Months Ended
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Nov. 30, 2016
Debt Disclosure [Abstract] |
Schedule of outstanding debt | As of November 30, 2016 and May 31, 2016, long-term debt consisted of the following:
| November 30, 2016 |  | May 31, 2016
| (in thousands)
Term loans (face amounts of $3,730,213 and $3,530,000 at November 30, 2016 and May 31, 2016, respectively, less unamortized debt issuance costs of $47,102 and $51,770 at November 30, 2016 and May 31, 2016, respectively) | $ | 3,683,111 |  |  | $ | 3,478,230 |
Revolving credit facility | 811,000 |  |  | 1,037,000 |
Capital lease obligations | 39 |  |  | 56 |
Total long-term debt | 4,494,150 |  |  | 4,515,286 |
Less current portion of long-term debt (face amounts of $187,274 and $145,938 at November 30, 2016 and May 31, 2016, respectively, less unamortized debt issuance costs of $9,551 and $10,442 at November 30, 2016 and May 31, 2016, respectively) and current portion of capital lease obligations of $36 and $46 at November 30, 2016 and May 31, 2016, respectively | 177,759 |  |  | 135,542 |
Long-term debt, excluding current portion | $ | 4,316,391 |  |  | $ | 4,379,744 |
Schedule of maturities of long-term debt | Maturity requirements on long-term debt as of November 30, 2016 are as follows (in thousands):
Fiscal years ending May 31, |
2017 | $ | 93,637 |
2018 | 187,274 |
2019 | 214,674 |
2020 | 214,674 |
2021 | 214,674 |
2022 | 3,103,724 |
2023 and thereafter | 512,556 |
Total | $ | 4,541,213 |
Schedule of derivative instruments | The table below presents the fair values of our derivative financial instruments designated as cash flow hedges included within the consolidated balance sheets:
|  |  | November 30, 2016 |  | May 31, 2016
|  |  | (in thousands)
Interest rate swaps ($250 million notional) | Other assets |  | $ | 827 |  |  | $ | — |
Interest rate swaps ($500 million notional) | Accounts payable and accrued liabilities |  | $ | 4,054 |  |  | $ | 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 and six months ended November 30, 2016 and 2015:
| Three Months Ended |  | Six Months Ended
| November 30, 2016 |  | November 30, 2015 |  | November 30, 2016 |  | November 30, 2015
| (in thousands) |  |  |  |
Amount of gain (loss) recognized in other comprehensive loss | $ | 7,089 |  |  | $ | (3,968 | ) |  | $ | 3,884 |  |  | $ | (4,000 | )
Amount of loss recognized in interest expense | $ | 1,768 |  |  | $ | 2,467 |  |  | $ | 3,665 |  |  | $ | 4,201 |

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