v3.25.2
Marketable Securities (Tables)
 12 Months Ended
May 31, 2025
Investments, Debt and Equity Securities [Abstract]  
Summary of Available-for-Sale Debt Securities by Asset Type

The following tables summarize available-for-sale debt securities held at May 31, 2025 and 2024 by asset type:

 

 

Available-For-Sale Debt Securities

 

(In thousands)

 

Amortized
Cost

 

 

 

Gross
Unrealized
Gains

 

 

 

Gross
Unrealized
Losses

 

 

Fair Value
(Net Carrying
Amount)

 

May 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury and other government

 

$

25,218

 

 

-

 

$

69

 

 

-

 

$

(1,087

)

 

$

24,200

 

Corporate bonds

 

 

132

 

 

-

 

 

4

 

 

-

 

 

(13

)

 

 

123

 

Total available-for-sale debt securities

 

$

25,350

 

 

 

$

73

 

 

 

$

(1,100

)

 

$

24,323

 

 

 

 

Available-For-Sale Debt Securities

 

(In thousands)

 

Amortized
Cost

 

 

 

Gross
Unrealized
Gains

 

 

 

Gross
Unrealized
Losses

 

 

Fair Value
(Net Carrying
Amount)

 

May 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed maturity:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. treasury and other government

 

$

28,338

 

 

-

 

$

5

 

 

-

 

$

(1,784

)

 

$

26,559

 

Corporate bonds

 

 

146

 

 

-

 

 

4

 

 

-

 

 

(12

)

 

 

138

 

Total available-for-sale debt securities

 

$

28,484

 

 

 

$

9

 

 

 

$

(1,796

)

 

$

26,697

 
Summary of Available-for-Sale Debt Securities in Unrealized Loss Position and Included in Accumulated Other Comprehensive (Loss), Aggregated by Length of Time Investments

Summarized below are the available-for-sale debt securities we held at May 31, 2025 and 2024 that were in an unrealized loss position and that were included in accumulated other comprehensive income (loss), aggregated by the length of time the investments had been in that position:

 

 

May 31, 2025

 

 

May 31, 2024

 

(In thousands)

 

Fair Value

 

 

Gross
Unrealized
Losses

 

 

Fair Value

 

 

Gross
Unrealized
Losses

 

Total investments with unrealized losses

 

$

15,794

 

 

$

(1,100

)

 

$

25,464

 

 

$

(1,796

)

Unrealized losses with a loss position for less than 12 months

 

 

5,777

 

 

 

(753

)

 

 

4,866

 

 

 

(36

)

Unrealized losses with a loss position for more than 12 months

 

 

10,017

 

 

 

(347

)

 

 

20,598

 

 

 

(1,760

)
Net Carrying Values of Debt Securities by Contractual Maturity

The net carrying values of available-for-sale debt securities at May 31, 2025, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations without prepayment penalties.

(In thousands)

 

Amortized Cost

 

 

Fair Value

 

Due:

 

 

 

 

 

 

Less than one year

 

$

4,148

 

 

$

4,114

 

One year through five years

 

 

14,334

 

 

 

14,146

 

Six years through ten years

 

 

3,824

 

 

 

3,720

 

After ten years

 

 

3,044

 

 

 

2,343

 

 

 

$

25,350

 

 

$

24,323