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Pension Plans | 6 Months Ended
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Nov. 30, 2016
Compensation And Retirement Disclosure [Abstract] |
Pension Plans | NOTE 12 — PENSION PLANS We offer defined benefit pension plans, defined contribution pension plans, as well as several unfunded health care benefit plans primarily for certain of our retired employees. The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the three and six month periods ended November 30, 2016 and 2015:
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Three Months Ended |  |  | Three Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Pension Benefits |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 9,401 |  |  | $ | 8,202 |  |  | $ | 1,127 |  |  | $ | 1,067 |
Interest cost |  |  | 4,331 |  |  |  | 4,499 |  |  |  | 1,224 |  |  |  | 1,323 |
Expected return on plan assets |  |  | (6,252 | ) |  |  | (6,437 | ) |  |  | (1,886 | ) |  |  | (1,983 | )
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  |  | 54 |  |  |  | 58 |  |  |  |  |  |  |  |  |
Net actuarial losses recognized |  |  | 5,540 |  |  |  | 4,190 |  |  |  | 573 |  |  |  | 457 |
Settlement |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 91 |
Net Periodic Benefit Cost |  | $ | 13,074 |  |  | $ | 10,512 |  |  | $ | 1,038 |  |  | $ | 955 |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Three Months Ended |  |  | Three Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Postretirement Benefits |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | - |  |  | $ | - |  |  | $ | 284 |  |  | $ | 281 |
Interest cost |  |  | 57 |  |  |  | 59 |  |  |  | 222 |  |  |  | 221 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service (credit) |  |  | (58 | ) |  |  | (62 | ) |  |  |  |  |  |  |  |
Net actuarial (gains) losses recognized |  |  |  |  |  |  |  |  |  |  | 60 |  |  |  | 61 |
Net Periodic Benefit Cost |  | $ | (1 | ) |  | $ | (3 | ) |  | $ | 566 |  |  | $ | 563 |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Six Months Ended |  |  | Six Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Pension Benefits |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 18,802 |  |  | $ | 16,404 |  |  | $ | 2,254 |  |  | $ | 2,134 |
Interest cost |  |  | 8,662 |  |  |  | 8,998 |  |  |  | 2,448 |  |  |  | 2,646 |
Expected return on plan assets |  |  | (12,504 | ) |  |  | (12,874 | ) |  |  | (3,772 | ) |  |  | (3,966 | )
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  |  | 108 |  |  |  | 116 |  |  |  | - |  |  |  | - |
Net actuarial losses recognized |  |  | 11,080 |  |  |  | 8,380 |  |  |  | 1,146 |  |  |  | 914 |
Settlement |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 91 |
Net Periodic Benefit Cost |  | $ | 26,148 |  |  | $ | 21,024 |  |  | $ | 2,076 |  |  | $ | 1,819 |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Six Months Ended |  |  | Six Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Postretirement Benefits |  | 2016 |  |  | 2015 |  |  | 2016 |  |  | 2015 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | - |  |  | $ | - |  |  | $ | 568 |  |  | $ | 562 |
Interest cost |  |  | 114 |  |  |  | 118 |  |  |  | 444 |  |  |  | 442 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service (credit) |  |  | (116 | ) |  |  | (124 | ) |  |  | - |  |  |  | - |
Net actuarial (gains) losses recognized |  |  | - |  |  |  | - |  |  |  | 120 |  |  |  | 122 |
Net Periodic Benefit Cost |  | $ | (2 | ) |  | $ | (6 | ) |  | $ | 1,132 |  |  | $ | 1,126 |
The current year increases in pension and postretirement benefit cost reflect the impact of our assumptions used to determine net cost. The rate of expected return on plan assets and the effective discount rate applicable to service cost assumptions both decreased from fiscal 2016 to fiscal 2017. We expect that pension expense will fluctuate on a year-to-year basis, depending upon the investment performance of plan assets and potential changes in interest rates, but such changes are not expected to be material to our consolidated financial results. We previously disclosed in our financial statements for the fiscal year ended May 31, 2016 that we expected to contribute approximately $54.1 million to our retirement plans in the U.S. and approximately $6.0 million to plans outside the U.S. during the current fiscal year. As of November 30, 2016, this has not changed.

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