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v3.26.1

Derivative Instruments and Hedging Activities (Tables) | 12 Months Ended
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May 31, 2026
Schedule of Fair Value of Derivative Instruments | The following table summarizes the fair value of our derivative financial instruments and the respective lines in which they were recorded in our consolidated balance sheet at May 31, 2026 and 2025:
|  | Fair Value of Assets |  |  | Fair Value of Liabilities |
|  | Balance |  |  |  |  |  |  |  | Balance |  |  |  |  |  |
|  | Sheet |  |  |  |  |  |  |  | Sheet |  |  |  |  |  |
|  | Location |  | 2026 |  |  | 2025 |  |  | Location |  | 2026 |  |  | 2025 |
Derivatives designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Receivables |  | $ | 1,264 |  |  | $ | 478 |  |  | Accounts payable |  | $ | 1,044 |  |  | $ | 51 |
Commodity contracts |  | Other assets |  |  | 100 |  |  |  | - |  |  | Other liabilities |  |  | - |  |  |  | 35 |
Foreign currency exchange contracts |  | Receivables |  |  | - |  |  |  | 483 |  |  | Accounts payable |  |  | 133 |  |  |  | - |
Subtotal |  |  |  |  | 1,364 |  |  |  | 961 |  |  |  |  |  | 1,177 |  |  |  | 86 |
Derivatives not designated as hedging instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commodity contracts |  | Receivables |  | $ | - |  |  | $ | 81 |  |  | Accounts payable |  | $ | 64 |  |  | $ | 15 |
Foreign currency exchange contracts |  | Receivables |  |  | - |  |  |  | - |  |  | Accounts payable |  |  | 16 |  |  |  | 7,360 |
Subtotal |  |  |  |  | - |  |  |  | 81 |  |  |  |  |  | 80 |  |  |  | 7,375 |
Total |  |  |  | $ | 1,364 |  |  | $ | 1,042 |  |  |  |  | $ | 1,257 |  |  | $ | 7,461 |
The amounts in the table above reflect the fair value of our derivative financial instruments on a net basis where allowable under master netting arrangements. Had these amounts been recognized on a gross basis, the impact would have been an increase in receivables with a corresponding increase in accounts payable of $707 and $356 at May 31, 2026 and 2025, respectively.
Schedule of Summary of Derivative Hedges | The following table summarizes our economic (non-designated) derivative financial instruments outstanding at May 31, 2026:
| Notional |  |  |
| Amount |  |  | Maturity Date
Commodity contracts | $ | 1,412 |  |  | June 2026 - May 2027
Foreign currency exchange contracts |  | 37,710 |  |  | June 2026 - November 2026
Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments | The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during fiscal 2026 and fiscal 2025:
|  |  |  |  | Gain (Loss) |
|  |  |  |  | Recognized in Earnings |
|  |  |  |  | Fiscal Year Ended |
|  |  | Location of Gain (Loss) |  | May 31, |
|  |  | Recognized in Earnings |  | 2026 |  |  | 2025 |
Commodity contracts |  |  | Cost of goods sold |  | $ | 415 |  |  | $ | 600 |
Foreign currency exchange contracts |  |  | Miscellaneous expense, net |  |  | 7,119 |  |  |  | (6,111 | )
Total |  |  |  |  | $ | 7,534 |  |  | $ | (5,511 | )
Cash Flow Hedges |
Schedule of Summary of Derivative Hedges | The following table summarizes our cash flow hedges outstanding at May 31, 2026:
| Notional |  |  |
| Amount |  |  | Maturity Date
Commodity contracts | $ | 4,853 |  |  | June 2026 - December 2027
Foreign currency exchange contracts |  | 6,021 |  |  | June 2026 - August 2026
The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from AOCI into earnings for derivative financial instruments designated as cash flow hedges during fiscal 2026 and fiscal 2025:
|  |  |  | Location of | Gain (Loss) |
| Gain (Loss) |  |  | Gain (Loss) | Reclassified |
| Recognized |  |  | Reclassified from AOCI | from AOCI |
| in OCI |  |  | into Net Earnings | into Net Earnings |
For the fiscal year ended May 31, 2026: |  |  |  |  |  |
Commodity contracts | $ | 1,276 |  |  | Cost of goods sold | $ | 1,301 |
Foreign currency exchange contracts |  | 293 |  |  | Various (1) |  | 651 |
Interest rate contracts |  | - |  |  | Interest expense |  | 207 |
Totals | $ | 1,569 |  |  |  | $ | 2,159 |
For the fiscal year ended May 31, 2025: |  |  |  |  |  |
Commodity contracts | $ | (63 | ) |  | Cost of goods sold | $ | (100 | )
Interest rate contracts |  | - |  |  | Interest expense, net |  | 207 |
Foreign currency exchange contracts |  | 752 |  |  | Various (2) |  | 284 |
Totals | $ | 689 |  |  |  | $ | 391 |
(1) Location of gain (loss) reclassified from AOCI into net earnings for fiscal 2026 related to foreign currency exchange contracts included miscellaneous expense, net, interest expense, net, and cost of goods sold in our consolidated statement of earnings. (2) Location of gain (loss) reclassified from AOCI into net earnings for fiscal 2025 related to foreign currency exchange contracts included miscellaneous expense, net and net sales in our consolidated statement of earnings.

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- Definition Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References No definition available. + Details
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