Changes in Equity

3 Months Ended

Aug. 31, 2015

Changes in Equity

NOTE I – 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 interests for the three months ended August 31, 2015:

	Controlling Interest
(in thousands)	Additional Paid-in Capital			Cumulative Other Comprehensive Income (Loss), Net of Tax			Retained Earnings			Total			Non- controlling Interests			Total
Balance at May 31, 2015	$	289,078		$	(50,704	)	$	510,738		$	749,112		$	90,937		$	840,049
Net earnings		-			-			31,410			31,410			3,027			34,437
Other comprehensive income (loss)		-			2,501			-			2,501			(56	)		2,445
Common shares issued, net of withholding tax		(602	)		-			-			(602	)		-			(602	)
Common shares in NQ plans		550			-			-			550			-			550
Stock-based compensation		5,965			-			-			5,965			-			5,965
Purchases and retirement of common shares		(4,680	)		-			(22,902	)		(27,582	)		-			(27,582	)
Cash dividends declared		-			-			(11,470	)		(11,470	)		-			(11,470	)
Payments to noncontrolling interest		-			-			-			-			(4,901	)		(4,901	)
Balance at August 31, 2015	$	290,311		$	(48,203	)	$	507,776		$	749,884		$	89,007		$	838,891

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

	Foreign Currency Translation			Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
(in thousands)
Balance as of May 31, 2015	$	(20,717	)	$	(15,003	)	$	(14,984	)	$	(50,704	)
Other comprehensive income (loss) before reclassifications		1,879			(8	)		(8,092	)		(6,221	)
Reclassification adjustments to income (a)		-			-			9,330			9,330
Income taxes		-			-			(608	)		(608	)
Balance as of August 31, 2015	$	(18,838	)	$	(15,011	)	$	(14,354	)	$	(48,203	)

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