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Note 18 - Commitments and Contingencies
 3 Months Ended
Aug. 31, 2025
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

Note 18. Commitments and contingencies

 

Purchase and other commitments

 

The Company has financial commitments on long-term debt, refer to Note 11 (Long-term debt), convertible notes, refer to Note 12 (Convertible debentures payable), material purchase commitments inclusive of multi-period sponsorship rights and construction commitments as follows:

 

   

Total

    

2026

    

2027

    

2028

    

2029

    

Thereafter

  

Long-term debt repayment

   $ 161,572     $ 16,295     $ 16,241     $ 96,436     $ 3,531     $ 29,069  

Convertible debentures payable

     100,000       —       —       100,000       —       —  

Material purchase obligations

     73,691       41,073       26,580       6,038       —       —  

Construction commitments

     888       888       —       —       —       —  

Total

   $ 336,151     $ 58,256     $ 42,821     $ 202,474     $ 3,531     $ 29,069  

 

Legal proceedings

 

In the ordinary course of business, we are at times subject to various legal proceedings and disputes, including the proceedings specifically discussed below. We assess our liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that we will incur a loss and the amount of the loss can be reasonably estimated, we record a liability in our consolidated financial statements. These legal reserves  may be increased or decreased to reflect any relevant developments on a quarterly basis. Where a loss is not probable or the amount of loss is not estimable, we do not accrue legal reserves. While the outcome of legal proceedings is inherently uncertain, based on information currently available and available insurance coverage, our management believes that it has established appropriate legal reserves. Any incremental liabilities arising from pending legal proceedings are not expected to have a material adverse effect on our consolidated financial position, consolidated results of operations, or consolidated cash flows. However, it is possible that the ultimate resolution of these matters, if unfavorable,  may be material to our consolidated financial position, consolidated results of operations, or consolidated cash flows.

 

There have been no material changes in the legal proceedings since our Annual Report on Form 10-K for the fiscal year ended May 31, 2025.

 

Summary of litigation accruals 

 

As described in Note 10 (Accounts payable and accrued liabilities), the total estimated litigation expense accrual included in accrued liabilities as of  August 31, 2025 and May 31, 2025 was $12,021 and $12,431, respectively. This estimated accrual is intended to cover various ongoing litigation matters with probable losses that can be reasonably estimated.