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LONG-TERM DEBT AND CREDIT FACILITIES (Tables)
 6 Months Ended
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