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Long-Term Liabilities

9 Months Ended

Feb. 28, 2015

Debt Disclosure [Abstract]

Long-Term Liabilities

NOTE 7 Long-Term Liabilities

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

		February 28, 2015				May 31, 2014
		(Dollars in thousands)
Other deferred liabilities:
Deferred compensation expense		$	5,171			$	5,386
Accrued warranty and related expenses			2,000				2,000
Total other deferred liabilities			7,171				7,386
Life insurance loans			6,334				6,334
		$	13,505			$	13,720

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 5.9 percent. At February 28, 2015 and May 31, 2014, prepaid interest associated with the life insurance loans totaled approximately $217,000 and $165,000, respectively; 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

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