XML 55 R13.htm IDEA: XBRL DOCUMENT v3.2.0.727
Long-Term Liabilities
 12 Months Ended
May. 31, 2015
Debt Disclosure [Abstract]  
Long-Term Liabilities
NOTE 8 Long-Term Liabilities

Long-term liabilities, consisting of other deferred liabilities and life insurance loans, include the following:

 

     May 31,  
     2015      2014  
     (Dollars in thousands)  

Other deferred liabilities:

      

Deferred compensation expense

    $ 5,237       $ 5,386   

Accrued warranty and related expenses

      2,400         2,000   
  

 

 

     

 

 

  

Total other deferred liabilities

      7,637         7,386   

Life insurance loans

      4,312         6,334   
  

 

 

     

 

 

  
   $ 11,949       $ 13,720   
  

 

 

     

 

 

  

Additional information regarding deferred compensation expense is in Note 15. Life insurance loans have no fixed repayment schedule, and have interest rates ranging from 4.2 percent to 7.4 percent. The weighted average interest rate is 5.2 percent. At May 31, 2015 and May 31, 2014, prepaid interest associated with the life insurance loans totaled approximately $88,000 and $165,000, respectively; which is recognized in Other current assets.