Changes in Equity (Tables)

6 Months Ended

Nov. 30, 2013

Summary of Changes in Total Equity, Shareholders' Equity Attributable to Controlling Interest, and Equity Attributable to Noncontrolling Interest

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 six months ended November 30, 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		-			-			77,534			77,534			7,159			84,693
Other comprehensive income (loss)		-			6,956			-			6,956			(701	)		6,255
Common shares issued		6,487			-			-			6,487			-			6,487
Stock-based compensation		13,448			-			-			13,448			-			13,448
Purchases and retirement of common shares		(4,890	)		-			(45,426	)		(50,316	)		-			(50,316	)
Cash dividends declared		-			-			(21,142	)		(21,142	)		-			(21,142	)
Dividend paid to noncontrolling interest		-			-			-			-			(2,638	)		(2,638	)
Acquisition of TWB		-			-			-			-			72,369			72,369
Balance at November 30, 2013	$	259,909		$	(5,080	)	$	608,960		$	863,789		$	117,604		$	981,393

Components of Changes in Other Comprehensive Income (Loss)

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		3,252		-			2,581			5,833
Reclassification adjustments to income (a)		-		-			2,900			2,900
Income taxes		-		-			(1,777	)		(1,777	)
Balance as of November 30, 2013	$	7,277	$	(10,221	)	$	(2,136	)	$	(5,080	)

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