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Pension Plans | 3 Months Ended
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Aug. 31, 2025
Retirement Benefits [Abstract] |
Pension Plans | NOTE 13 — PENSION PLANS We offer defined benefit pension plans, defined contribution pension plans, and various postretirement benefit plans. The following tables provide the retirement-related benefit plans’ impact on income before income taxes for the three-month periods ended August 31, 2025 and 2024:
| U.S. Plans |  | Non-U.S. Plans |
| Three Months Ended |  | Three Months Ended |
(In thousands) | August 31, |  | August 31, |  | August 31, |  | August 31, |
Pension Benefits | 2025 |  | 2024 |  | 2025 |  | 2024 |
Service cost | $ | 10,863 |  | $ | 10,804 |  | $ | 1,467 |  | $ | 1,120 |
Interest cost |  | 9,484 |  |  | 9,795 |  |  | 2,028 |  |  | 1,963 |
Expected return on plan assets |  | (13,326 | ) |  | (12,017 | ) |  | (2,506 | ) |  | (2,376 | )
Amortization of: |  |  |  |  |  |  |  |
Prior service cost (credit) |  | 1 |  |  | 1 |  |  | (25 | ) |  | (32 | )
Net actuarial losses recognized |  | 1,448 |  |  | 2,153 |  |  | 323 |  |  | 294 |
Net Periodic Benefit Cost | $ | 8,470 |  | $ | 10,736 |  | $ | 1,287 |  | $ | 969 |
| U.S. Plans |  | Non-U.S. Plans |
| Three Months Ended |  | Three Months Ended |
(In thousands) | August 31, |  | August 31, |  | August 31, |  | August 31, |
Postretirement Benefits | 2025 |  | 2024 |  | 2025 |  | 2024 |
Service cost | $ | - |  | $ | - |  | $ | 234 |  | $ | 425 |
Interest cost |  | 12 |  |  | 21 |  |  | 272 |  |  | 318 |
Amortization of: |  |  |  |  |  |  |  |
Net actuarial losses (gains) recognized |  | 9 |  |  | (6 | ) |  | (256 | ) |  | (140 | )
Net Periodic Benefit Cost | $ | 21 |  | $ | 15 |  | $ | 250 |  | $ | 603 |
Net periodic pension cost for fiscal 2026 is less than our fiscal 2025 cost due to an increase in discount rates, an increase in the market value of assets, an increase in expected return on plan assets and a reduction in the amortization of the net actuarial loss to be recognized. 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, and these fluctuations may have a material impact on our consolidated financial results in the future. We previously disclosed in our financial statements for the fiscal year ended May 31, 2025, that we are required and expect to contribute approximately $6.1 million to plans outside the U.S. during the current fiscal year and we will evaluate whether to make additional contributions to plans in the U.S. and outside the U.S. throughout fiscal 2026.

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