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Fair Value Measurements (Tables) | 12 Months Ended
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May 31, 2025
Fair Value Disclosures [Abstract] |
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis | At May 31, 2025, our financial assets and liabilities measured at fair value on a recurring basis were as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Totals |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments (1) |  | $ | - |  |  | $ | 1,042 |  |  | $ | - |  |  | $ | 1,042 |
Total assets |  | $ | - |  |  | $ | 1,042 |  |  | $ | - |  |  | $ | 1,042 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments (1) |  | $ | - |  |  | $ | 7,461 |  |  | $ | - |  |  | $ | 7,461 |
Total liabilities |  | $ | - |  |  | $ | 7,461 |  |  | $ | - |  |  | $ | 7,461 |
(1) The fair value of our derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “Note Q – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative financial instruments. At May 31, 2024, our financial assets and liabilities measured at fair value on a recurring basis were as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Totals |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments (1) |  | $ | - |  |  | $ | 920 |  |  | $ | - |  |  | $ | 920 |
Total assets |  | $ | - |  |  | $ | 920 |  |  | $ | - |  |  | $ | 920 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative financial instruments (1) |  | $ | - |  |  | $ | 1,421 |  |  | $ | - |  |  | $ | 1,421 |
Total liabilities |  | $ | - |  |  | $ | 1,421 |  |  | $ | - |  |  | $ | 1,421 |
(1) The fair value of our derivative financial instruments was based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “Note Q – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative financial instruments.
Assets Measured at Fair Value on Non-Recurring Basis | At May 31, 2025, our assets measured at fair value on a non-recurring basis were categorized as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Totals |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Long-lived assets held for use (1) |  | $ | - |  |  | $ | - |  |  | $ | 9,322 |  |  | $ | 9,322 |
Investment in unconsolidated affiliate (2) |  |  | - |  |  |  | - |  |  |  | 26,225 |  |  |  | 26,225 |
Investment in notes receivable (3) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total assets |  | $ | - |  |  | $ | - |  |  | $ | 35,547 |  |  | $ | 35,547 |
(1) During the fourth quarter of fiscal 2025, impairment indicators were identified related to the intangible assets of GTI. The recoverability of the associated asset group was assessed using projected future cash flows, which were determined to be less than the asset group’s net book value. In accordance with applicable accounting guidance, the intangible assets were written down to their fair market value of $9,322, resulting in an impairment charge of $50,050. Refer to “Note D – Goodwill and Other Long-Lived Assets” for additional information. (2) Represents our minority ownership interest in the Sustainable Energy Solutions joint venture, which recognized a non-cash impairment charge during the fourth quarter of fiscal 2025. Refer to “Note C – Investments in Unconsolidated Affiliates” for additional information. (3) Reflects the full write-down of an investment in notes receivable that was determined to be other than temporarily impaired. At May 31, 2024, our assets measured at fair value on a non-recurring basis were categorized as follows:
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Totals |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Investment in unconsolidated affiliate (1) |  | $ | - |  |  | $ | - |  |  | $ | 31,367 |  |  | $ | 31,367 |
Investment in notes receivable (2) |  |  | - |  |  |  | 5,000 |  |  |  | - |  |  |  | 5,000 |
Total assets |  | $ | - |  |  | $ | - |  |  | $ | 31,367 |  |  | $ | 31,367 |
(1) On May 29, 2024, in connection with the contribution of the net assets of the Sustainable Energy Solutions business to the newly-formed Sustainable Energy Solutions joint venture, we obtained a 49% minority ownership interest. In accordance with the applicable accounting guidance, our minority ownership interest in the Sustainable Energy Solutions joint venture was recorded at its acquisition date fair value of $31,367. (2) Reflects the write-down of an investment in notes receivable that was determined to be other than temporarily impaired.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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