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Fair Value and Derivatives (Tables)

12 Months Ended

May 31, 2023

Fair Value and Derivatives [Abstract]

Schedule of Other Derivatives Not Designated As Hedging Instruments Statements of Financial Performance And Financial Position Location

Fair Value of Derivatives Not Designated as Hedging Instruments		Balance Sheet Location		May 31, 2023				May 31, 2022
Foreign currency forward contracts, net		Other receivable (Other accruals)		$	140			$	(78	)

Schedule of Gain Loss From Derivatives Not Designated As Hedging Instruments Statements of Financial Performance And Location

The location and amount of gains from derivatives not designated as hedging instruments in our consolidated statements of income (loss) were as follows:

		Location in statements		Year Ended May 31
Derivatives Not Designated as Hedging Instruments		of (loss) income		May 31, 2023				May 31, 2022				May 31, 2021
Foreign currency forward contracts		Other (expense) income		$	(10,092	)		$	1,218			$	2,651

Summary of Interest Rate Swaps on Recurring Basis Using Observable Market Inputs for Similar Assets or Liabilities

We record the fair value of our interest rate swaps on a recurring basis using Level 2 observable market inputs for similar assets or liabilities in active markets.

Fair Value of Derivatives Designated as Hedging Instruments		Balance Sheet Location		May 31, 2023				May 31, 2022
Interest rate swaps – current		Other current assets		$	2,087			$	-
Interest rate swaps – non-current		Other non-current liabilities			(4,770	)			-

Summary of Fair Value of Term Loan and Senior Notes

Fair values of the Company’s Term Loan and Senior Notes were as follows:

		May 31, 2023
Aggregate fair value		$	927,720
Aggregate carrying value (1)			900,000

(1) Excludes unamortized debt issuance costs.

Summary of Other Comprehensive Income (Loss) and Accumulated Other Comprehensive Income (Loss)

The following table summarizes the other comprehensive income (loss) before reclassifications of derivative gains and losses:

		Other Comprehensive Income (Loss) Before Reclassifications During
		Year Ended May 31
Derivatives Designated as Hedging Instruments		2023				2022				2021
Interest rate swaps		$	(1,599	)		$	—			$	—

The following table summarizes the reclassification of derivative gains and losses into net income from accumulated other comprehensive income (loss):

				Gain (Loss) Reclassified During
		Location of Gain (Loss)		Year Ended May 31
Derivatives Designated as Hedging Instruments		Reclassified		2023				2022				2021
Interest rate swaps		Interest expense		$	440			$	—			$	—

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Tabular disclosure of information about asset and liability measured at fair value under fair value option.

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