XML 32 R20.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Pension Plans | 6 Months Ended
--- | ---
Nov. 30, 2017
Compensation And Retirement Disclosure [Abstract] |
Pension Plans | NOTE 13 — 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, 2017 and 2016:
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Three Months Ended |  |  | Three Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Pension Benefits |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 9,465 |  |  | $ | 9,401 |  |  | $ | 1,175 |  |  | $ | 1,127 |
Interest cost |  |  | 4,379 |  |  |  | 4,331 |  |  |  | 1,145 |  |  |  | 1,224 |
Expected return on plan assets |  |  | (8,086 | ) |  |  | (6,252 | ) |  |  | (1,978 | ) |  |  | (1,886 | )
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost (credit) |  |  | 29 |  |  |  | 54 |  |  |  | (6 | ) |  |  |  |
Net actuarial losses recognized |  |  | 3,618 |  |  |  | 5,540 |  |  |  | 419 |  |  |  | 573 |
Net Periodic Benefit Cost |  | $ | 9,405 |  |  | $ | 13,074 |  |  | $ | 755 |  |  | $ | 1,038 |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Three Months Ended |  |  | Three Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Postretirement Benefits |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | - |  |  | $ | - |  |  | $ | 311 |  |  | $ | 284 |
Interest cost |  |  | 43 |  |  |  | 57 |  |  |  | 224 |  |  |  | 222 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service (credit) |  |  | (55 | ) |  |  | (58 | ) |  |  |  |  |  |  |  |
Net actuarial losses recognized |  |  | 6 |  |  |  |  |  |  |  | 79 |  |  |  | 60 |
Net Periodic Benefit (Credit) Cost |  | $ | (6 | ) |  | $ | (1 | ) |  | $ | 614 |  |  | $ | 566 |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Six Months Ended |  |  | Six Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Pension Benefits |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | 18,930 |  |  | $ | 18,802 |  |  | $ | 2,350 |  |  | $ | 2,254 |
Interest cost |  |  | 8,758 |  |  |  | 8,662 |  |  |  | 2,290 |  |  |  | 2,448 |
Expected return on plan assets |  |  | (16,172 | ) |  |  | (12,504 | ) |  |  | (3,956 | ) |  |  | (3,772 | )
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service cost |  |  | 58 |  |  |  | 108 |  |  |  | (12 | ) |  |  | - |
Net actuarial losses recognized |  |  | 7,236 |  |  |  | 11,080 |  |  |  | 838 |  |  |  | 1,146 |
Net Periodic Benefit Cost |  | $ | 18,810 |  |  | $ | 26,148 |  |  | $ | 1,510 |  |  | $ | 2,076 |
|  | U.S. Plans |  |  | Non-U.S. Plans |
|  | Six Months Ended |  |  | Six Months Ended |
|  | November 30, |  |  | November 30, |  |  | November 30, |  |  | November 30, |
Postretirement Benefits |  | 2017 |  |  | 2016 |  |  | 2017 |  |  | 2016 |
(In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost |  | $ | - |  |  | $ | - |  |  | $ | 622 |  |  | $ | 568 |
Interest cost |  |  | 86 |  |  |  | 114 |  |  |  | 448 |  |  |  | 444 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service (credit) |  |  | (110 | ) |  |  | (116 | ) |  |  | - |  |  |  | - |
Net actuarial losses recognized |  |  | 12 |  |  |  | - |  |  |  | 158 |  |  |  | 120 |
Net Periodic Benefit (Credit) Cost |  | $ | (12 | ) |  | $ | (2 | ) |  | $ | 1,228 |  |  | $ | 1,132 |
The decrease in pension and postretirement benefit cost from fiscal 2017 to 2018 reflects the impact of increased asset values, which we expect will generate higher returns, and a change in estimate for lump sum valuations. 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, 2017 that we expected to contribute approximately $1.0 million to our retirement plans in the U.S. and approximately $7.0 million to plans outside the U.S. during the current fiscal year. As of November 30, 2017, this has not changed.

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for pension and other postretirement benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -URI http://asc.fasb.org/topic&trid=2235017 + Details
Name: | us-gaap_PensionAndOtherPostretirementBenefitsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration