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Comprehensive Income (Loss) (Tables)
 12 Months Ended
May 31, 2019
Equity [Abstract]  
Summary of Tax Effects of Each Component of Other Comprehensive Income (Loss) The following table summarizes the tax effects of each component of other comprehensive income (loss) for the fiscal years ended May 31:

 

 

 

2019

 

 

2018

 

 

2017

 

(in thousands)

 

Before-

Tax

 

 

Tax

 

 

Net-of-

Tax

 

 

Before-

Tax

 

 

Tax

 

 

Net-of-

Tax

 

 

Before

-Tax

 

 

Tax

 

 

Net-of-

Tax

 

Foreign currency translation

 

$

(14,772

)

 

$

-

 

 

$

(14,772

)

 

$

12,744

 

 

$

-

 

 

$

12,744

 

 

$

1,342

 

 

$

-

 

 

$

1,342

 

Pension liability adjustment

 

 

(2,203

)

 

 

418

 

 

 

(1,785

)

 

 

1,875

 

 

 

(309

)

 

 

1,566

 

 

 

3,400

 

 

 

(1,158

)

 

 

2,242

 

Cash flow hedges

 

 

(16,227

)

 

 

3,780

 

 

 

(12,447

)

 

 

1,351

 

 

 

(392

)

 

 

959

 

 

 

(4,522

)

 

 

1,700

 

 

 

(2,822

)

Other comprehensive income (loss)

 

$

(33,202

)

 

$

4,198

 

 

$

(29,004

)

 

$

15,970

 

 

$

(701

)

 

$

15,269

 

 

$

220

 

 

$

542

 

 

$

762

 

 
Components of Changes in Accumulated Other Comprehensive Loss The components of the changes in accumulated other comprehensive loss for the fiscal years ended May 31, 2019 and May 31, 2018 were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

Foreign

 

 

Pension

 

 

Cash

 

 

Other

 

 

 

Currency

 

 

Liability

 

 

Flow

 

 

Comprehensive

 

(in thousands)

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

Loss

 

Balance at May 31, 2017

 

$

(17,358

)

 

$

(14,819

)

 

$

4,402

 

 

$

(27,775

)

Other comprehensive income before reclassifications

 

 

12,371

 

 

 

1,402

 

 

 

14,980

 

 

 

28,753

 

Reclassification adjustments to income (a)

 

 

-

 

 

 

473

 

 

 

(13,629

)

 

 

(13,156

)

Reclassification of stranded tax effects

 

 

-

 

 

 

(2,818

)

 

 

1,117

 

 

 

(1,701

)

Income tax effect

 

 

-

 

 

 

(309

)

 

 

(392

)

 

 

(701

)

Balance at May 31, 2018

 

$

(4,987

)

 

$

(16,071

)

 

$

6,478

 

 

$

(14,580

)

Other comprehensive loss before reclassifications

 

 

(14,652

)

 

 

(3,404

)

 

 

(12,637

)

 

 

(30,693

)

Reclassification adjustments to income (a)

 

 

-

 

 

 

1,201

 

 

 

(3,590

)

 

 

(2,389

)

Income tax effect

 

 

-

 

 

 

418

 

 

 

3,780

 

 

 

4,198

 

Balance at May 31, 2019

 

$

(19,639

)

 

$

(17,856

)

 

$

(5,969

)

 

$

(43,464

)

 

 

(a)

The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “Note Q – Derivative Instruments and Hedging Activities.”