Note 8 - Deferred Financing Costs

9 Months Ended

Feb. 28, 2014

Deferred Revenue Disclosure [Abstract]

Deferred Revenue Disclosure [Text Block]

8.    DEFERRED FINANCING COSTS

Changes in deferred financing costs during the nine months ended February 28, 2014 and the fiscal year ended May 31, 2013 are as follows (in thousands):

	February 28, 2014			May 31, 2013
Balance at beginning of period	$	39,449			38,769
Debt issuance costs		-			11,412
Loss on extinguishment of debt		-			(5,625	)
Amortization		(4,713	)		(5,107	)
Balance at end of period	$	34,736			39,449

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 Facility which uses the straight line method.

Debt issuance costs, loss on extinguishment of debt, and the Revolving Facility are further detailed in Note 9.