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Accumulated Other Comprehensive Income (Loss)
12 Months Ended
May 31, 2024
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)

NOTE K — ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Accumulated other comprehensive income (loss) consists of the following components:

 

 

 

 

 

Pension And

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

Postretirement

 

 

Unrealized

 

 

Unrealized

 

 

 

 

 

 

Currency

 

 

Benefit

 

 

Gain

 

 

Gain (Loss)

 

 

 

 

 

 

Translation

 

 

Liability

 

 

(Loss) On

 

 

On

 

 

 

 

(In thousands)

 

Adjustments

 

 

Adjustments (1)

 

 

Derivatives (2)

 

 

Securities

 

 

Total

 

Balance at May 31, 2021

 

$

(300,365

)

 

$

(190,610

)

 

$

(23,982

)

 

$

73

 

 

$

(514,884

)

Current period comprehensive (loss) income

 

 

(98,834

)

 

 

31,802

 

 

 

60,669

 

 

 

(1,785

)

 

 

(8,148

)

Income taxes associated with current period comprehensive (loss) income

 

 

3,726

 

 

 

(7,763

)

 

 

(14,491

)

 

 

3

 

 

 

(18,525

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

-

 

 

 

17,276

 

 

 

(12,097

)

 

 

59

 

 

 

5,238

 

Income taxes reclassified into earnings

 

 

-

 

 

 

(4,088

)

 

 

3,072

 

 

 

(2

)

 

 

(1,018

)

Balance at May 31, 2022

 

 

(395,473

)

 

 

(153,383

)

 

 

13,171

 

 

 

(1,652

)

 

 

(537,337

)

Current period comprehensive (loss) income

 

 

(71,772

)

 

 

(12,242

)

 

 

-

 

 

 

(482

)

 

 

(84,496

)

Income taxes associated with current period comprehensive (loss) income

 

 

1,870

 

 

 

2,785

 

 

 

-

 

 

 

4

 

 

 

4,659

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

-

 

 

 

18,363

 

 

 

(1,766

)

 

 

(67

)

 

 

16,530

 

Income taxes reclassified into earnings

 

 

-

 

 

 

(4,287

)

 

 

-

 

 

 

(4

)

 

 

(4,291

)

Balance at May 31, 2023

 

 

(465,375

)

 

 

(148,764

)

 

 

11,405

 

 

 

(2,201

)

 

 

(604,935

)

Current period comprehensive income (loss)

 

 

3,276

 

 

 

66,592

 

 

 

-

 

 

 

205

 

 

 

70,073

 

Income taxes associated with current period comprehensive income (loss)

 

 

252

 

 

 

(15,769

)

 

 

-

 

 

 

(56

)

 

 

(15,573

)

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

-

 

 

 

17,416

 

 

 

-

 

 

 

(165

)

 

 

17,251

 

Income taxes reclassified into earnings

 

 

-

 

 

 

(4,122

)

 

 

-

 

 

 

16

 

 

 

(4,106

)

Balance at May 31, 2024

 

$

(461,847

)

 

$

(84,647

)

 

$

11,405

 

 

$

(2,201

)

 

$

(537,290

)

 

(1)
For additional information, see Note N, "Pension Plans," and Note O, "Postretirement Benefits," to the Consolidated Financial Statements for details. Amounts reclassified from accumulated other comprehensive income (loss) are included in pension non-service costs (credits) as a component of "Other Expense (Income), Net" on the Consolidated Statements of Income.
(2)
For additional information, see Note F, "Derivatives and Hedging," to the Consolidated Financial Statements for details.