XML 30 R18.htm IDEA: XBRL DOCUMENT v3.3.1.900
Treasury Stock
6 Months Ended
Nov. 30, 2015
Stockholders' Equity Attributable to Parent [Abstract]  
Treasury Stock
TREASURY STOCK
 
The Board of Directors (the "Board") has authorized the Company to repurchase Common Stock, from time to time as conditions allow, on the open market or through negotiated private transactions. The table below represents the remaining Board authorization:
 
Board Authorization
Amount
 
September 2010
$
44.0

(a) 
Additional authorization July 2015
50.0

 
Less repurchases made under the authorization as of September 2010
(34.1
)
 
Remaining Board authorization at November 30, 2015
$
59.9

 


(a)  Represents the remainder of a $200.0 authorization after giving effect to the purchase of 5,199,699 shares at $30.00 per share pursuant to a large share repurchase in the form of a modified Dutch auction tender offer that was completed by the Company on November 3, 2010 for a total cost of $156.0, excluding related fees and expenses.

On July 22, 2015, the Board authorized an additional $50.0 for the share buy-back program, to be funded with available cash. There were no repurchases of Common Stock made during the three and six months ended November 30, 2015. The Company’s repurchase program may be suspended at any time without prior notice.