Changes in Equity

9 Months Ended

Feb. 28, 2015

Changes in Equity

NOTE J – 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 nine months ended February 28, 2015:

	Controlling Interest
(in thousands)	Additional Paid-in Capital			Cumulative Other Comprehensive Loss, Net of Tax			Retained Earnings			Total			Non- controlling Interest			Total
Balance at May 31, 2014	$	262,610		$	(3,581	)	$	591,783		$	850,812		$	94,070		$	944,882
Net earnings		-			-			47,920			47,920			9,110			57,030
Other comprehensive loss		-			(40,441	)		-			(40,441	)		(2,453	)		(42,894	)
Common shares issued, net of withholding tax		1,627			-			-			1,627			-			1,627
Common shares in NQ plans		14,323			-			-			14,323			-			14,323
Stock-based compensation		21,344			-			-			21,344			-			21,344
Purchases and retirement of common shares		(13,007	)		-			(85,278	)		(98,285	)		-			(98,285	)
Cash dividends declared		-			-			(36,560	)		(36,560	)		-			(36,560	)
Acquisition of dHybrid Systems, LLC		-			-			-			-			4,082			4,082
Payments to noncontrolling interest		-			-			-			-			(13,876	)		(13,876	)
Balance at February 28, 2015	$	286,897		$	(44,022	)	$	517,865		$	760,740		$	90,933		$	851,673

The components of the changes in other comprehensive loss for the nine months ended February 28, 2015, were as follows:

	Foreign Currency Translation			Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
(in thousands)
Balance as of May 31, 2014	$	11,015		$	(11,265	)	$	(3,331	)	$	(3,581	)
Other comprehensive loss before reclassifications		(29,281	)		(1,072	)		(19,742	)		(50,095	)
Reclassification adjustments to income (a)		-			-			3,058			3,058
Income taxes		-			371			6,225			6,596
Balance as of February 28, 2015	$	(18,266	)	$	(11,966	)	$	(13,790	)	$	(44,022	)

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