XML 41 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
Derivatives and Hedging
12 Months Ended
May 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging
DERIVATIVES AND HEDGING

The Company enters into foreign currency derivative contracts to economically hedge the exposure to foreign currency fluctuations associated with the forecasted purchase of inventory and the foreign exchange risk associated with certain receivables denominated in foreign currencies. These derivative contracts are economic hedges and are not designated as cash flow hedges. The Company marks-to-market these instruments and records the changes in the fair value of these items in current earnings, and it recognizes the unrealized gain or loss in other current assets or liabilities. The notional values of the contracts as of May 31, 2016 and 2015 were $31.8 and $19.7, respectively. Net unrealized losses of $0.5 and unrealized gains of $0.3 were recognized at May 31, 2016 and May 31, 2015, respectively. These amounts are reported in Selling, general and administrative expenses.