Changes in Equity

3 Months Ended

Aug. 31, 2013

Changes in Equity

NOTE H – Changes in Equity

The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interest for the three months ended August 31, 2013:

	Controlling Interest
(in thousands)	Additional Paid-in Capital			Cumulative Other Comprehensive Income (Loss), Net of Tax			Retained Earnings			Total			Non- controlling Interest			Total
Balance at May 31, 2013	$	244,864		$	(12,036	)	$	597,994		$	830,822		$	41,415		$	872,237
Net earnings		-			-			54,557			54,557			1,796			56,353
Other comprehensive income (loss)		-			3,882			-			3,882			(1,017	)		2,865
Common shares issued		2,201			-			-			2,201			-			2,201
Stock-based compensation		7,230			-			-			7,230			-			7,230
Purchases and retirement of common shares		(3,104	)		-			(27,412	)		(30,516	)		-			(30,516	)
Cash dividends declared		-			-			(10,588	)		(10,588	)		-			(10,588	)
Dividend paid to noncontrolling interest		-			-			-			-			(1,763	)		(1,763	)
Acquisition of TWB		-			-			-			-			72,369			72,369
Balance at August 31, 2013	$	251,191		$	(8,154	)	$	614,551		$	857,588		$	112,800		$	970,388

The components of the changes in other comprehensive income (loss) were as follows:

(in thousands)	Foreign Currency Translation		Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance as of May 31, 2013	$	4,025	$	(10,221	)	$	(5,840	)	$	(12,036	)
Other comprehensive income before reclassifications		531		-			3,441			3,972
Reclassification adjustments to income (a)		-		-			1,379			1,379
Income taxes		-		-			(1,469	)		(1,469	)
Balance as of August 31, 2013	$	4,556	$	(10,221	)	$	(2,489	)	$	(8,154	)

(a) The income statement classification of amounts reclassified to income for cash flow hedges is disclosed in “NOTE N – Derivative Instruments and Hedging Activities.”