| Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy |
The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs (Level 2) |
|
|
Significant
Unobservable
Inputs (Level 3) |
|
|
Fair Value at
May 31, 2025 |
|
Available-for-sale debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and other government |
|
$ |
- |
|
|
$ |
24,200 |
|
|
$ |
- |
|
|
$ |
24,200 |
|
Corporate bonds |
|
|
- |
|
|
|
123 |
|
|
|
- |
|
|
|
123 |
|
Total available-for-sale debt securities |
|
|
- |
|
|
|
24,323 |
|
|
|
- |
|
|
|
24,323 |
|
Marketable equity securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Stocks-foreign |
|
|
1,265 |
|
|
|
- |
|
|
|
- |
|
|
|
1,265 |
|
Stocks-domestic |
|
|
8,642 |
|
|
|
- |
|
|
|
- |
|
|
|
8,642 |
|
Mutual funds - foreign |
|
|
- |
|
|
|
38,943 |
|
|
|
- |
|
|
|
38,943 |
|
Mutual funds - domestic |
|
|
- |
|
|
|
86,569 |
|
|
|
- |
|
|
|
86,569 |
|
Total marketable equity securities |
|
|
9,907 |
|
|
|
125,512 |
|
|
|
- |
|
|
|
135,419 |
|
Contingent consideration |
|
|
- |
|
|
|
- |
|
|
|
(17,252 |
) |
|
|
(17,252 |
) |
Total |
|
$ |
9,907 |
|
|
$ |
149,835 |
|
|
$ |
(17,252 |
) |
|
$ |
142,490 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
|
Significant
Other
Observable
Inputs (Level 2) |
|
|
Significant
Unobservable
Inputs (Level 3) |
|
|
Fair Value at
May 31, 2024 |
|
Available-for-sale debt securities: |
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury and other government |
|
$ |
- |
|
|
$ |
26,559 |
|
|
$ |
- |
|
|
$ |
26,559 |
|
Corporate bonds |
|
|
- |
|
|
|
138 |
|
|
|
- |
|
|
|
138 |
|
Total available-for-sale debt securities |
|
|
- |
|
|
|
26,697 |
|
|
|
- |
|
|
|
26,697 |
|
Marketable equity securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Stocks-foreign |
|
|
1,518 |
|
|
|
- |
|
|
|
- |
|
|
|
1,518 |
|
Stocks-domestic |
|
|
9,028 |
|
|
|
- |
|
|
|
- |
|
|
|
9,028 |
|
Mutual funds - foreign |
|
|
- |
|
|
|
39,114 |
|
|
|
- |
|
|
|
39,114 |
|
Mutual funds - domestic |
|
|
- |
|
|
|
77,966 |
|
|
|
- |
|
|
|
77,966 |
|
Total marketable equity securities |
|
|
10,546 |
|
|
|
117,080 |
|
|
|
- |
|
|
|
127,626 |
|
Contingent consideration |
|
|
- |
|
|
|
- |
|
|
|
(2,229 |
) |
|
|
(2,229 |
) |
Total |
|
$ |
10,546 |
|
|
$ |
143,777 |
|
|
$ |
(2,229 |
) |
|
$ |
152,094 |
|
|
| Fair Value and Carrying Value of Financial Instruments and Long-Term Debt |
Based on the analysis performed, the fair value and the carrying value of our financial instruments and long-term debt as of May 31, 2025 and 2024 are as follows:
|
|
|
|
|
|
|
|
|
|
|
At May 31, 2025 |
|
(In thousands) |
|
Carrying Value |
|
|
Fair Value |
|
Long-term debt, including current portion |
|
|
2,646,613 |
|
|
|
2,523,202 |
|
|
|
|
|
|
|
|
|
|
At May 31, 2024 |
|
(In thousands) |
|
Carrying Value |
|
|
Fair Value |
|
Long-term debt, including current portion |
|
|
2,127,148 |
|
|
|
1,979,359 |
|
|