Note 7 - Deferred Financing Costs

3 Months Ended

Aug. 31, 2012

Other Liabilities Disclosure [Text Block]

7.     DEFERRED FINANCING COSTS

Changes in deferred financing costs for the quarter ended August 31, 2012 were as follows (in thousands):

	August 31, 2012
Balance at beginning of period	$	38,769
Debt issuance costs (See Note 8)		2,528
Loss on extinguishment of debt		(3,953	)
Amortization		(1,223	)
Balance at end of period	$	36,121

Deferred financing costs are capitalized and are amortized over the life of the related debt agreements using the effective interest rate method, except the Revolving Credit Facility which uses the straight line method.