FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Feb. 28, 2015

Fair Value of Assets and Liabilities Measured on Recurring Basis

The following table sets forth, by level within the fair value hierarchy, our financial assets and liabilities that are accounted for at fair value on a recurring basis as of February 28, 2015 and May 31, 2014. As required by ASC 820, financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement (in thousands):

	February 28, 2015
	(unaudited)
	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Liabilities:
Contingent consideration	$	—	$	—		$	1,261	$	1,261
Net investment hedge	$	—	$	(4,195	)	$	—	$	(4,195	)
	May 31, 2014
	Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Total
Liabilities:
Contingent consideration	$	—	$	—		$	2,015	$	2,015
Net investment hedge	$	—	$	(1,229	)	$	—	$	(1,229	)

Summary of Changes in Fair Value of Level 3 Contingent Consideration

The following table represents the changes in the fair value of Level 3 contingent consideration (in thousands):

	Nine Months Ended February 28, 2015
	(unaudited)
Balance at May 31, 2014	$	2,015
Accretion of liability		122
Payment		(1,000	)
Acquisitions		124
Balance at February 28, 2015	$	1,261