v3.25.2
Comprehensive Income (Loss) (Tables)
 12 Months Ended
May 31, 2025
Equity [Abstract]  
Summary of Tax Effects of Each Component of OCI The following table summarizes the tax effects of each component of OCI for the prior three fiscal years:

 

 

2025

 

 

2024

 

 

2023

 

 

Before-
Tax

 

 

Tax

 

 

Net-of-
Tax

 

 

Before-
Tax

 

 

Tax

 

 

Net-of-
Tax

 

 

Before-
Tax

 

 

Tax

 

 

Net-of-
Tax

 

Foreign currency translation

$

2,297

 

 

$

953

 

 

$

3,250

 

 

$

10,578

 

 

$

2

 

 

$

10,580

 

 

$

(6,774

)

 

$

(39

)

 

$

(6,813

)

Pension liability adjustment

 

(83

)

 

 

159

 

 

 

76

 

 

 

9,603

 

 

 

(2,330

)

 

 

7,273

 

 

 

5,915

 

 

 

(1,401

)

 

 

4,514

 

Cash flow hedges

 

298

 

 

 

(28

)

 

 

270

 

 

 

8,545

 

 

 

(2,048

)

 

 

6,497

 

 

 

2,585

 

 

 

(615

)

 

 

1,970

 

OCI

$

2,512

 

 

$

1,084

 

 

$

3,596

 

 

$

28,726

 

 

$

(4,376

)

 

$

24,350

 

 

$

1,726

 

 

$

(2,055

)

 

$

(329

)

 
Components of Changes in AOCI The components of the changes in AOCI at the end of the prior two fiscal years were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

Pension

 

 

Cash

 

 

 

 

 

Currency

 

 

Liability

 

 

Flow

 

 

 

 

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

AOCI

 

Balance at May 31, 2023

$

(22,123

)

 

$

(1,730

)

 

$

674

 

 

$

(23,179

)

OCI before reclassifications

 

1,987

 

 

 

419

 

 

 

14,721

 

 

 

17,127

 

Reclassification adjustments to income (1)(2)

 

8,591

 

 

 

9,184

 

 

 

(6,176

)

 

 

11,599

 

Income tax effect

 

2

 

 

 

(2,330

)

 

 

(2,048

)

 

 

(4,376

)

Separation of Worthington Steel

 

10,874

 

 

 

(5,984

)

 

 

(5,607

)

 

 

(717

)

Balance at May 31, 2024

$

(669

)

 

$

(441

)

 

$

1,564

 

 

$

454

 

OCI before reclassifications

 

2,297

 

 

 

(83

)

 

 

689

 

 

 

2,903

 

Reclassification adjustments to income (1)

 

-

 

 

 

-

 

 

 

(391

)

 

 

(391

)

Income tax effect

 

953

 

 

 

159

 

 

 

(28

)

 

 

1,084

 

Balance at May 31, 2025

$

2,581

 

 

$

(365

)

 

$

1,834

 

 

$

4,050

 

 

 
(1)
Cash flow hedges – disclosed in “Note Q – Derivative Instruments and Hedging Activities.”
(2)
Reflects the following pension liability adjustments:
•
The acceleration of deferred pension costs in AOCI related to separate pension lift-out transactions completed in February 2024 to transfer the pension benefit obligation under the Gerstenslager Plan to third-party insurance companies. Refer to “Note L – Employee Retirement Plans.”
•
The settlement of certain participant balances within the pension plan maintained by WAVE during fiscal 2024.