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Derivatives and Hedging (Tables) | 6 Months Ended
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Nov. 30, 2020
Derivative Instruments And Hedging Activities Disclosure [Abstract] |
Schedule of Derivatives Instruments for Gains or Losses Initially Recognized in AOCI in Consolidated Balance Sheet | The following table summarizes the location and effects of our derivatives instruments on the Consolidated Statements of Comprehensive Income and Consolidated Statements of Income for gains or losses initially recognized in AOCI in the Consolidated Balance Sheet:
|  | Pretax gain/(loss) recognized in AOCI |  |  |  |  | Pretax gain/(loss) reclassified from AOCI into income |
(In thousands) |  | Three Months Ended |  |  |  |  | Three Months Ended |
Derivatives in hedging relationships |  | November 30, 2020 |  | November 30, 2019 |  |  | Income statement location |  | November 30, 2020 |  | November 30, 2019 |
Interest rate swap (cash flow) |  | $ | (149 | ) | $ | - |  |  | Interest expense |  | $ | (846 | ) | $ | - |
Cross currency swap (cash flow) |  |  | 51 |  |  | - |  |  | Interest income |  |  | 160 |  |  | - |
Cross currency swap (cash flow) |  |  | - |  |  | - |  |  | Foreign exchange gain |  |  | 75 |  |  | - |
Cross currency swap (net investment) |  |  | (957 | ) |  | 73 |  |  | Gain or (loss) on sale of subsidiary |  |  | - |  |  | - |
Total |  | $ | (1,055 | ) | $ | 73 |  |  |  |  | $ | (611 | ) | $ | - |
|  | Pretax gain/(loss) recognized in AOCI |  |  |  |  | Pretax gain/(loss) reclassified from AOCI into income |
(In thousands) |  | Six Months Ended |  |  |  |  | Six Months Ended |
Derivatives in hedging relationships |  | November 30, 2020 |  | November 30, 2019 |  |  | Income Statement Location |  | November 30, 2020 |  | November 30, 2019 |
Interest rate swap (cash flow) |  | $ | (747 | ) | $ | - |  |  | Interest expense |  | $ | (1,613 | ) | $ | - |
Cross currency swap (cash flow) |  |  | (7,304 | ) |  | - |  |  | Interest income |  |  | 351 |  |  | - |
Cross currency swap (cash flow) |  |  | - |  |  | - |  |  | Foreign exchange (loss) |  |  | (7,380 | ) |  | - |
Cross currency swap (net investment) |  |  | (24,090 | ) |  | 1,469 |  |  | Gain or (loss) on sale of subsidiary |  |  | - |  |  | - |
Total |  | $ | (32,141 | ) | $ | 1,469 |  |  |  |  | $ | (8,642 | ) | $ | - |
Schedule of Fair Values of Qualifying and Non-Qualifying Instruments Used in Hedging Transactions | The fair values of qualifying and non-qualifying instruments used in hedging transactions as of November 30, 2020 and May 31, 2020 are as follows:
(In thousands) |  |  |  | Fair Value |
Derivatives Designated as Hedging Instruments |  | Balance Sheet Location |  | November 30, 2020 |  |  | May 31, 2020 |
Assets: |  |  |  |  |  |  |  |  |  |
Cross Currency Swap (Net Investment) |  | Other Current Assets |  | $ | 5,681 |  |  | $ | 5,352 |
Cross Currency Swap (Cash Flow) |  | Other Current Assets |  |  | 604 |  |  |  | 750 |
Cross Currency Swap (Net Investment) |  | Other Assets (Long-Term) |  |  | - |  |  |  | 12,409 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Interest Rate Swap (Cash Flow) |  | Other Accrued Liabilities |  | $ | 3,323 |  |  | $ | 2,981 |
Cross Currency Swap (Net Investment) |  | Other Accrued Liabilities |  |  | 726 |  |  |  | 294 |
Cross Currency Swap (Net Investment) |  | Other Long-Term Liabilities |  |  | 30,557 |  |  |  | 18,204 |
Cross Currency Swap (Cash Flow) |  | Other Long-Term Liabilities |  |  | 11,394 |  |  |  | 3,608 |
Interest Rate Swap (Cash Flow) |  | Other Long-Term Liabilities |  |  | 3,978 |  |  |  | 5,187 |
(In thousands) |  |  |  | Fair Value |
Derivatives Not Designated as Hedging Instruments |  | Balance Sheet Location |  | November 30, 2020 |  |  | May 31, 2020 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Foreign Currency Exchange |  | Other Accrued Liabilities |  | $ | 394 |  |  | $ | 53 |

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
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- Definition Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5618551-113959 + Details
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