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Fair Value Measurements (Tables) | 12 Months Ended
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May 31, 2013
Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy | The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.
(In thousands) |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value at May 31, 2013 |
U.S. Treasury and other government |  | $ | — |  |  | $ | 20,636 |  |  | $ | — |  |  | $ | 20,636 |
Foreign bonds |  |  |  |  |  |  | 41 |  |  |  |  |  |  |  | 41 |
Mortgage-backed securities |  |  |  |  |  |  | 156 |  |  |  |  |  |  |  | 156 |
Corporate bonds |  |  |  |  |  |  | 1,968 |  |  |  |  |  |  |  | 1,968 |
Stocks—foreign |  |  | 1,334 |  |  |  |  |  |  |  |  |  |  |  | 1,334 |
Stocks—domestic |  |  | 29,365 |  |  |  |  |  |  |  |  |  |  |  | 29,365 |
Mutual funds—foreign |  |  |  |  |  |  | 20,222 |  |  |  |  |  |  |  | 20,222 |
Mutual funds—domestic |  |  |  |  |  |  | 39,371 |  |  |  |  |  |  |  | 39,371 |
Foreign currency forward contract |  |  |  |  |  |  | (4,751 | ) |  |  |  |  |  |  | (4,751 | )
Cross-currency swap |  |  |  |  |  |  | (10,048 | ) |  |  |  |  |  |  | (10,048 | )
Contingent consideration |  |  |  |  |  |  | — |  |  |  | (64,500 | ) |  |  | (64,500 | )
Total |  | $ | 30,699 |  |  | $ | 67,595 |  |  | $ | (64,500 | ) |  | $ | 33,794 |
(In thousands) |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |  |  | Fair Value at May 31, 2012 |
U.S. Treasury and other government |  | $ | — |  |  | $ | 19,865 |  |  | $ | — |  |  | $ | 19,865 |
Foreign bonds |  |  |  |  |  |  | 39 |  |  |  |  |  |  |  | 39 |
Mortgage-backed securities |  |  |  |  |  |  | 344 |  |  |  |  |  |  |  | 344 |
Corporate bonds |  |  |  |  |  |  | 2,649 |  |  |  |  |  |  |  | 2,649 |
Stocks—foreign |  |  | 1,095 |  |  |  |  |  |  |  |  |  |  |  | 1,095 |
Stocks—domestic |  |  | 26,110 |  |  |  |  |  |  |  |  |  |  |  | 26,110 |
Mutual funds—foreign |  |  |  |  |  |  | 17,074 |  |  |  |  |  |  |  | 17,074 |
Mutual funds—domestic |  |  |  |  |  |  | 39,283 |  |  |  |  |  |  |  | 39,283 |
Foreign currency forward contract |  |  |  |  |  |  | (1,356 | ) |  |  |  |  |  |  | (1,356 | )
Cross-currency swap |  |  |  |  |  |  | (2,159 | ) |  |  |  |  |  |  | (2,159 | )
Conversion option, Kemrock 5.5% bonds |  |  |  |  |  |  |  |  |  |  | 9,031 |  |  |  | 9,031 |
Investment in Kemrock convertible debt |  |  |  |  |  |  | 13,670 |  |  |  |  |  |  |  | 13,670 |
Total |  | $ | 27,205 |  |  | $ | 89,409 |  |  | $ | 9,031 |  |  | $ | 125,645 |
Fair Value and Carrying Value of Financial Instruments and Long-Term Debt | Based on the analysis performed, the fair value and the carrying value of our financial instruments and long-term debt as of May 31, 2013 and May 31, 2012 are as follows:
|  | At May 31, 2013 |
(In thousands) |  | Carrying Value |  |  | Fair Value |
Cash and cash equivalents |  | $ | 343,554 |  |  | $ | 343,554 |
Marketable equity securities |  |  | 90,292 |  |  |  | 90,292 |
Marketable debt securities |  |  | 22,801 |  |  |  | 22,801 |
Long-term debt, including current portion |  |  | 1,373,697 |  |  |  | 1,501,850 |
|  | At May 31, 2012 |
(In thousands) |  | Carrying Value |  |  | Fair Value |
Cash and cash equivalents |  | $ | 315,968 |  |  | $ | 315,968 |
Marketable equity securities |  |  | 83,562 |  |  |  | 83,562 |
Marketable debt securities |  |  | 36,567 |  |  |  | 36,567 |
Long-term debt, including current portion |  |  | 1,115,536 |  |  |  | 1,232,180 |

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- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 15 -Subparagraph b-d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 18 -Subparagraph c(2), d, e, f -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 157 -Paragraph 32 -Subparagraph a, c(1), c(2), c(3), d -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 10 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 107 -Paragraph 14 -Subparagraph a -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 159 -Paragraph 19 -Subparagraph a, b, c(1), d(1) -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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