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Changes in Equity
 3 Months Ended
Aug. 31, 2025
Equity [Abstract]  
Changes in Equity

Note H – Changes in Equity

 

The following tables summarize the changes in equity by component and in total for the periods presented:

 

 

 

Controlling Interest

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Paid-in

 

 

AOCI,

 

 

Retained

 

 

 

 

 

Noncontrolling

 

 

 

 

 

 

Capital

 

 

Net of Tax

 

 

Earnings

 

 

Subtotal

 

 

Interests

 

 

Total

 

Balance at May 31, 2025

 

$

308,608

 

 

$

4,050

 

 

$

624,529

 

 

$

937,187

 

 

$

1,050

 

 

$

938,237

 

Net earnings (loss)

 

 

-

 

 

 

-

 

 

 

35,148

 

 

 

35,148

 

 

 

(327

)

 

 

34,821

 

Other comprehensive income

 

 

-

 

 

 

1,083

 

 

 

-

 

 

 

1,083

 

 

 

-

 

 

 

1,083

 

Common shares issued, net of withholding tax

 

 

(3,552

)

 

 

-

 

 

 

-

 

 

 

(3,552

)

 

 

-

 

 

 

(3,552

)

Common shares in non-qualified plans

 

 

78

 

 

 

-

 

 

 

-

 

 

 

78

 

 

 

-

 

 

 

78

 

Stock-based compensation

 

 

4,856

 

 

 

-

 

 

 

-

 

 

 

4,856

 

 

 

-

 

 

 

4,856

 

Repurchases and retirement of common shares

 

 

(623

)

 

 

-

 

 

 

(5,636

)

 

 

(6,259

)

 

 

-

 

 

 

(6,259

)

Cash dividends declared

 

 

-

 

 

 

-

 

 

 

(9,433

)

 

 

(9,433

)

 

 

-

 

 

 

(9,433

)

Balance at August 31, 2025

 

$

309,367

 

 

$

5,133

 

 

$

644,608

 

 

$

959,108

 

 

$

723

 

 

$

959,831

 

 

 

 

Controlling Interest

 

 

 

 

 

 

 

 

 

Additional

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Paid-in

 

 

AOCI,

 

 

Retained

 

 

 

 

 

Noncontrolling

 

 

 

 

 

 

Capital

 

 

Net of Tax

 

 

Earnings

 

 

Subtotal

 

 

Interests

 

 

Total

 

Balance at May 31, 2024

 

$

299,033

 

 

$

454

 

 

$

589,392

 

 

$

888,879

 

 

$

2,133

 

 

$

891,012

 

Net earnings

 

 

-

 

 

 

-

 

 

 

24,253

 

 

 

24,253

 

 

 

(245

)

 

 

24,008

 

Other comprehensive income

 

 

-

 

 

 

484

 

 

 

-

 

 

 

484

 

 

 

-

 

 

 

484

 

Common shares issued, net of withholding tax

 

 

(3,158

)

 

 

-

 

 

 

-

 

 

 

(3,158

)

 

 

-

 

 

 

(3,158

)

Common shares in non-qualified plans

 

 

32

 

 

 

-

 

 

 

-

 

 

 

32

 

 

 

-

 

 

 

32

 

Stock-based compensation

 

 

6,216

 

 

 

-

 

 

 

-

 

 

 

6,216

 

 

 

-

 

 

 

6,216

 

Repurchases and retirement of common shares

 

 

(884

)

 

 

-

 

 

 

(5,919

)

 

 

(6,803

)

 

 

-

 

 

 

(6,803

)

Cash dividends declared

 

 

-

 

 

 

-

 

 

 

(8,550

)

 

 

(8,550

)

 

 

-

 

 

 

(8,550

)

Balance at August 31, 2024

 

$

301,239

 

 

$

938

 

 

$

599,176

 

 

$

901,353

 

 

$

1,888

 

 

$

903,241

 

 

The following table summarizes the changes in AOCI for the periods presented:

 

 

 

Foreign

 

 

Pension

 

 

 

 

 

 

 

 

 

Currency

 

 

Liability

 

 

Cash Flow

 

 

 

 

 

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

AOCI

 

Balance at May 31, 2025

 

$

2,581

 

 

$

(365

)

 

$

1,834

 

 

$

4,050

 

OCI before reclassifications

 

 

1,280

 

 

 

(14

)

 

 

334

 

 

 

1,600

 

Reclassification adjustments to net earnings (1)

 

 

-

 

 

 

-

 

 

 

(773

)

 

 

(773

)

Income tax effect

 

 

127

 

 

 

3

 

 

 

126

 

 

 

256

 

Balance at August 31, 2025

 

$

3,988

 

 

$

(376

)

 

$

1,521

 

 

$

5,133

 

 

 

 

 

Foreign

 

 

Pension

 

 

 

 

 

 

 

 

 

Currency

 

 

Liability

 

 

Cash Flow

 

 

 

 

 

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

AOCI

 

Balance at May 31, 2024

 

$

(669

)

 

$

(441

)

 

$

1,564

 

 

$

454

 

OCI before reclassifications

 

 

(12

)

 

 

(7

)

 

 

(398

)

 

 

(417

)

Reclassification adjustments to net earnings (1)

 

 

-

 

 

 

-

 

 

 

333

 

 

 

333

 

Income tax effect

 

 

553

 

 

 

-

 

 

 

15

 

 

 

568

 

Balance at August 31, 2024

 

$

(128

)

 

$

(448

)

 

$

1,514

 

 

$

938

 

——————————————————

(1)
The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “Note N – Derivative Financial Instruments and Hedging Activities.”

 

On March 24, 2021, the Board authorized the repurchase of up to 5,618,464 common shares. During the three months ended August 31, 2025, we repurchased a total of 100,000 common shares under this authorization leaving 5,265,000 common shares available for repurchase at August 31, 2025.

 

Common shares may be repurchased from time to time, with consideration given to the market price of the common shares, the nature of other investment opportunities, cash flows from operations, general economic conditions and other relevant considerations. Repurchases may be made on the open market or through privately-negotiated transactions.