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Long-Term Liabilities | 12 Months Ended
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May 31, 2014
Debt Disclosure [Abstract] |
Long-Term Liabilities |
NOTE 9 |  | Long-Term Liabilities
Long-term liabilities, consisting of other deferred liabilities and life insurance loans, include the following:
|  | May 31, |
|  | 2014 |  |  | 2013 |
|  | (Dollars in thousands) |
Other deferred liabilities: |  |  |  |  |  |  |  |
Deferred compensation expense |  | $ | 5,386 |  |  | $ | 5,869 |
Accrued warranty and related expenses |  |  | 2,000 |  |  |  | 2,200 |
Total other deferred liabilities |  |  | 7,386 |  |  |  | 8,069 |
Life insurance loans |  |  | 6,334 |  |  |  | — |
|  | $ | 13,720 |  |  | $ | 8,069 |
Additional information regarding deferred compensation expense is in Note 15. Life insurance loans have no fixed prepayment schedule, and have interest rates ranging from 4.2 percent to 7.4 percent. The weighted average interest rate is 5.9 percent. At May 31, 2014, prepaid interest associated with the life insurance loans totaled approximately $165,000; which is recognized in Other current assets.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 + Details
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