XML 62 R43.htm IDEA: XBRL DOCUMENT
v3.22.2

Postretirement Benefits (Tables) - Postretirement Benefits - Unfunded-Health-Care-Benefit Plans | 12 Months Ended
--- | ---
May 31, 2022
Components of Net Periodic Pension and Postretirement Costs | The following table illustrates the effect on operations of these plans for the three years ended May 31, 2022:
|  | U.S. Plans |  |  | Non-U.S. Plans |
(In thousands) |  | 2022 |  | 2021 |  | 2020 |  |  | 2022 |  | 2021 |  | 2020 |
Service cost - benefits earned during the period |  | $ | - |  | $ | - |  | $ | - |  |  | $ | 1,623 |  | $ | 1,959 |  | $ | 1,661 |
Interest cost on the accumulated obligation |  |  | 41 |  |  | 74 |  |  | 149 |  |  |  | 1,124 |  |  | 1,286 |  |  | 1,089 |
Amortization of: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Prior service (credit) |  |  | (161 | ) |  | (167 | ) |  | (219 | ) |  |  | - |  |  | - |  |  | - |
Net actuarial losses (gains) |  |  | 61 |  |  | 42 |  |  | (66 | ) |  |  | 121 |  |  | 590 |  |  | 611 |
Net Postretirement Benefit (Income) Cost |  | $ | (59 | ) | $ | (51 | ) | $ | (136 | ) |  | $ | 2,868 |  | $ | 3,835 |  | $ | 3,361 |
Changes in Benefit Obligations | The changes in benefit obligations of the plans at May 31, 2022 and 2021 were as follows:
|  | U.S. Plans |  |  | Non-U.S. Plans |
(In thousands) |  | 2022 |  | 2021 |  |  | 2022 |  | 2021 |
Accumulated postretirement benefit obligation at beginning of year |  | $ | 2,506 |  | $ | 4,182 |  |  | $ | 39,974 |  | $ | 38,389 |
Service cost |  |  | - |  |  | - |  |  |  | 1,623 |  |  | 1,959 |
Interest cost |  |  | 41 |  |  | 74 |  |  |  | 1,124 |  |  | 1,286 |
Benefit payments |  |  | (164 | ) |  | (1,902 | ) |  |  | (875 | ) |  | (673 | )
Actuarial (gains) losses |  |  | (123 | ) |  | 152 |  |  |  | (9,240 | ) |  | (6,415 | )
Currency exchange rate changes |  |  | - |  |  | - |  |  |  | (1,961 | ) |  | 5,428 |
Accumulated and accrued postretirement benefit obligation at end of year |  | $ | 2,260 |  | $ | 2,506 |  |  | $ | 30,645 |  | $ | 39,974 |
Amounts Recognized in Consolidated Balance Sheet | Amounts recognized in the Consolidated Balance Sheets for the years ended May 31, 2022 and 2021 are as follows:
|  | U.S. Plans |  |  | Non-U.S. Plans |
(In thousands) |  | 2022 |  | 2021 |  |  | 2022 |  | 2021 |
Current liabilities |  | $ | (252 | ) | $ | (238 | ) |  | $ | (968 | ) | $ | (931 | )
Noncurrent liabilities |  |  | (2,008 | ) |  | (2,268 | ) |  |  | (29,677 | ) |  | (39,043 | )
Net Amount Recognized |  | $ | (2,260 | ) | $ | (2,506 | ) |  | $ | (30,645 | ) | $ | (39,974 | )
Pretax Net Actuarial (Loss) Gain and Prior Service (Cost) Recognized in Accumulated Other Comprehensive Income (Loss) not Affecting Retained Earnings | The following table presents the pretax net actuarial (loss) gain and prior service credits recognized in accumulated other comprehensive income (loss) not affecting retained earnings:
|  | U.S. Plans |  |  | Non-U.S. Plans |
(In thousands) |  | 2022 |  | 2021 |  |  | 2022 |  | 2021 |
Net actuarial (loss) gain |  | $ | (314 | ) | $ | (497 | ) |  | $ | 3,878 |  | $ | (5,901 | )
Prior service credit |  |  | 121 |  |  | 281 |  |  |  | - |  |  | - |
Total recognized in accumulated other comprehensive income not affecting retained earnings |  | $ | (193 | ) | $ | (216 | ) |  | $ | 3,878 |  | $ | (5,901 | )
Changes Recognized in Other Comprehensive Income | The following table includes the changes recognized in other comprehensive income:
|  | U.S. Plans |  |  | Non-U.S. Plans |
(In thousands) |  | 2022 |  | 2021 |  |  | 2022 |  | 2021 |
Changes in plan assets and benefit obligations recognized in other comprehensive income: |  |  |  |  |  |  |  |  |  |
Prior service cost |  | $ | - |  | $ | - |  |  | $ | - |  | $ | - |
Net (gain) loss arising during the year |  |  | (123 | ) |  | 152 |  |  |  | (9,240 | ) |  | (6,415 | )
Effect of exchange rates on amounts included in AOCI |  |  | - |  |  | - |  |  |  | (418 | ) |  | 1,574 |
Amounts recognized as a component of net periodic benefit cost: |  |  |  |  |  |  |  |  |  |
Amortization or curtailment recognition of prior service credit |  |  | 160 |  |  | 167 |  |  |  | - |  |  | - |
Amortization or settlement recognition of net gain (loss) |  |  | (60 | ) |  | (41 | ) |  |  | (121 | ) |  | (590 | )
Total recognized in other comprehensive loss (income) |  | $ | (23 | ) | $ | 278 |  |  | $ | (9,779 | ) | $ | (5,431 | )
Weighted-Average Assumptions used to Determine Benefit Obligations and Net Periodic and Postretirement Costs | The following weighted-average assumptions were used to determine our year-end benefit obligations and net periodic postretirement benefit costs under the plans:
|  | U.S. Plans |  |  |  | Non-U.S. Plans |
Year-End Benefit Obligations |  | 2022 |  | 2021 |  | 2022 |  | 2021 |
Discount rate |  |  | 4.36 | % |  |  |  | 2.47 | % |  |  |  | 5.13 | % |  |  |  | 3.51 | %
Current healthcare cost trend rate |  |  | 6.23 | % |  |  |  | 6.07 | % |  |  |  | 5.58 | % |  |  |  | 5.68 | %
Ultimate healthcare cost trend rate |  |  | 4.03 | % |  |  |  | 4.36 | % |  |  |  | 3.70 | % |  |  |  | 3.70 | %
Year ultimate healthcare cost trend rate will be realized |  |  | 2045 |  |  |  |  | 2037 |  |  |  |  | 2040 |  |  |  |  | 2040 |
|  | U.S. Plans |  |  |  | Non-U.S. Plans |  |
Net Periodic Postretirement Cost |  | 2022 |  | 2021 |  | 2020 |  | 2022 |  | 2021 |  | 2020
Discount rate |  |  | 2.47 | % |  |  |  | 2.44 | % |  |  |  | 3.44 | % |  |  |  | 3.51 | % |  |  |  | 3.32 | % |  |  |  | 3.22 | % |
Healthcare cost trend rate |  |  | 6.07 | % |  |  |  | 6.68 | % |  |  |  | 7.29 | % |  |  |  | 5.68 | % |  |  |  | 5.73 | % |  |  |  | 5.77 | % |
Ultimate healthcare cost trend rate |  |  | 4.36 | % |  |  |  | 4.36 | % |  |  |  | 4.36 | % |  |  |  | 3.70 | % |  |  |  | 3.70 | % |  |  |  | 3.70 | % |
Year ultimate healthcare cost trend rate will be realized |  |  | 2037 |  |  |  |  | 2037 |  |  |  |  | 2037 |  |  |  |  | 2040 |  |  |  |  | 2040 |  |  |  |  | 2040 |  |

X
- Definition Schedule of Defined Benefit Plan Accumulated Other Comprehensive Income before Tax [Table Text Block] + References No definition available. + Details
Name: | rpm_ScheduleOfDefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTaxTableTextBlock
Namespace Prefix: | rpm_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amounts that are recognized in the balance sheet (or statement of financial position) for pension plans and/or other employee benefit plans, showing separately the assets and current and noncurrent liabilities (if applicable) recognized. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the net gain (loss) and net prior service cost or credit recognized in other comprehensive income (loss) for the period for pension plans and/or other employee benefit plans, and reclassification adjustments of other comprehensive income (loss) for the period, as those amounts, including amortization of the net transition asset or obligation, are recognized as components of net periodic benefit cost. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (i) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the change in the accumulated postemployment benefit obligation from the beginning to the end of the period, showing separately, if applicable, the effects of the following: service cost, interest cost, contributions by plan participants, actuarial gains and losses, foreign currency exchange rate changes, benefits paid, plan amendments, business combinations, divestitures, curtailments, settlements, and special and contractual termination benefits. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInAccumulatedPostemploymentBenefitObligationsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI https://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RetirementPlanTypeAxis=us-gaap_OtherPostretirementBenefitPlansDefinedBenefitMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RetirementPlanFundingStatusAxis=us-gaap_UnderfundedPlanMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |