Changes in Equity

3 Months Ended

Aug. 31, 2016

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, 2016:

	Controlling Interest
(in thousands)	Additional Paid-in Capital		Accumulated Other Comprehensive Loss, Net of Tax			Retained Earnings			Total			Non- controlling Interests			Total
Balance at May 31, 2016	$	298,984	$	(28,565	)	$	522,952		$	793,371		$	126,475		$	919,846
Net earnings		-		-			65,567			65,567			2,969			68,536
Other comprehensive income (loss)		-		(45	)		-			(45	)		5			(40	)
Common shares issued, net of withholding tax		5,821		-			-			5,821			-			5,821
Common shares in NQ plans		634		-			-			634			-			634
Stock-based compensation		3,491		-			-			3,491			-			3,491
Cash dividends declared		-		-			(12,877	)		(12,877	)		-			(12,877	)
Dividends to noncontrolling interest		-		-			-			-			(4,331	)		(4,331	)
Balance at August 31, 2016	$	308,930	$	(28,610	)	$	575,642		$	855,962		$	125,118		$	981,080

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

(in thousands)	Foreign Currency Translation			Pension Liability Adjustment			Cash Flow Hedges			Accumulated Other Comprehensive Loss
Balance as of May 31, 2016	$	(18,728	)	$	(17,061	)	$	7,224		$	(28,565	)
Other comprehensive income (loss) before reclassifications		(670	)		-			733			63
Reclassification adjustments to income (a)		-			-			355			355
Income taxes		-			-			(463	)		(463	)
Balance as of August 31, 2016	$	(19,398	)	$	(17,061	)	$	7,849		$	(28,610	)

(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.”