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Restructuring and Other Expense, Net | 12 Months Ended
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May 31, 2026
Restructuring and Related Activities [Abstract] |
Restructuring and Other Expense, Net | Note E – Restructuring and Other Expense, Net Restructuring activities consist of established programs that are intended to fundamentally change our operations. Our restructuring programs may include closing or consolidating production facilities or moving manufacturing of a product to another location, realignment of the management structure of a business unit in response to changing market conditions or general rationalization of headcount. Our restructuring activities generally give rise to employee-related costs, such as severance pay, and facility-related costs, such as exit costs and gains or losses on asset disposals but may include other incremental operating items associated with our ongoing businesses that are discrete in nature but incremental to our normal business activities. A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense, net financial statement caption in our consolidated statement of earnings for fiscal 2026, is summarized below:
|  | Beginning |  |  |  |  |  |  |  |  | Ending |
|  | Balance |  |  | Expense |  |  | Payments |  |  | Balance |
Early retirement and severance |  | $ | 585 |  |  | $ | 941 |  |  | $ | (1,333 | ) |  | $ | 193 |
Other restructuring charges (1) |  |  | 100 |  |  |  | 5,926 |  |  |  | (6,026 | ) |  |  | - |
|  | $ | 685 |  |  | $ | 6,867 |  |  | $ | (7,359 | ) |  | $ | 193 |
Net loss on sale of assets |  |  |  |  |  | 233 |  |  |  |  |  |  |
Restructuring and other expense, net |  |  |  |  | $ | 7,100 |  |  |  |  |  |  |
(1) During fiscal 2026 other restructuring charges consisted primarily of acquisition-related costs such as advisory, legal, and other professional fees. The total liability as of May 31, 2026 is expected to be paid in the immediately following 12 months. A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense, net financial statement caption in our consolidated statement of earnings for fiscal 2025, is summarized below:
|  | Beginning |  |  |  |  |  |  |  |  | Ending |
|  | Balance |  |  | Expense |  |  | Payments |  |  | Balance |
Early retirement and severance |  | $ | 188 |  |  | $ | 1,993 |  |  | $ | (1,596 | ) |  | $ | 585 |
Other restructuring charges (1) |  |  | - |  |  |  | 1,235 |  |  |  | (1,135 | ) |  |  | 100 |
|  | $ | 188 |  |  | $ | 3,228 |  |  | $ | (2,731 | ) |  | $ | 685 |
Net loss on sale of assets |  |  |  |  |  | 95 |  |  |  |  |  |  |
Stock-based compensation (2) |  |  |  |  |  | 2,665 |  |  |  |  |  |  |
Change in fair value of Ragasco earnout (3) |  |  |  |  |  | 4,536 |  |  |  |  |  |  |
Restructuring and other expense, net |  |  |  |  | $ | 10,524 |  |  |  |  |  |  |
(1) During fiscal 2025, other restructuring charges consisted primarily of acquisition-related costs such as advisory, legal, and other professional fees. (2) Reflects non-cash stock-based compensation expense related to the accelerated vesting of certain outstanding equity awards held by our former CEO upon his retirement, effective November 1, 2024. (3) Reflects the change in fair value of the contingent liability associated with the Ragasco earnout arrangement covering the 12-month period ended December 31, 2024. See “Note P – Acquisitions” for additional information.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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