FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Nov. 30, 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 November 30, 2015 and May 31, 2015. 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):

	November 30, 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	$	—	$	—		$	3,618	$	3,618
Net investment hedge	$	—	$	(4,971	)	$	—	$	(4,971	)
	May 31, 2015
	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	$	—	$	—		$	1,407	$	1,407
Net investment hedge	$	—	$	(4,466	)	$	—	$	(4,466	)

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):

	Six Months Ended November 30, 2015			Twelve Months Ended May 31, 2015
	(unaudited)
Balance, beginning of period	$	1,407		$	2,015
Accretion of liability		119			163
Foreign currency effects		—			(21	)
Payment		(230	)		(1,000	)
Revaluation		(5,256	)		—
Acquisitions		7,578			250
Balance, end of period	$	3,618		$	1,407