| Changes in Equity |
Note H – Changes in Equity The following tables summarize the changes in equity by component and in total for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Controlling Interest |
|
|
|
|
|
|
|
|
Additional |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paid In |
|
|
AOCI |
|
|
Retained |
|
|
|
|
|
Noncontrolling |
|
|
|
|
|
Capital |
|
|
Net of Tax |
|
|
Earnings |
|
|
Subtotal |
|
|
Interest |
|
|
Total |
|
Balance at May 31, 2025 |
$ |
308,608 |
|
|
$ |
4,050 |
|
|
$ |
624,529 |
|
|
$ |
937,187 |
|
|
$ |
1,050 |
|
|
$ |
938,237 |
|
Net earnings (loss) |
|
- |
|
|
|
- |
|
|
|
35,148 |
|
|
|
35,148 |
|
|
|
(327 |
) |
|
|
34,821 |
|
Other comprehensive income |
|
- |
|
|
|
1,083 |
|
|
|
- |
|
|
|
1,083 |
|
|
|
- |
|
|
|
1,083 |
|
Common shares issued, net of withholding tax |
|
(3,552 |
) |
|
|
- |
|
|
|
- |
|
|
|
(3,552 |
) |
|
|
- |
|
|
|
(3,552 |
) |
Common shares in non-qualified plans |
|
78 |
|
|
|
- |
|
|
|
- |
|
|
|
78 |
|
|
|
- |
|
|
|
78 |
|
Stock-based compensation |
|
4,856 |
|
|
|
- |
|
|
|
- |
|
|
|
4,856 |
|
|
|
- |
|
|
|
4,856 |
|
Purchase and retirement of common shares |
|
(623 |
) |
|
|
- |
|
|
|
(5,636 |
) |
|
|
(6,259 |
) |
|
|
- |
|
|
|
(6,259 |
) |
Cash dividends declared |
|
- |
|
|
|
- |
|
|
|
(9,433 |
) |
|
|
(9,433 |
) |
|
|
- |
|
|
|
(9,433 |
) |
Balance at August 31, 2025 |
$ |
309,367 |
|
|
$ |
5,133 |
|
|
$ |
644,608 |
|
|
$ |
959,108 |
|
|
$ |
723 |
|
|
$ |
959,831 |
|
Net earnings (loss) |
|
- |
|
|
|
- |
|
|
|
27,328 |
|
|
|
27,328 |
|
|
|
(299 |
) |
|
|
27,029 |
|
Other comprehensive income |
|
- |
|
|
|
(1,598 |
) |
|
|
- |
|
|
|
(1,598 |
) |
|
|
- |
|
|
|
(1,598 |
) |
Common shares issued, net of withholding tax |
|
(2,269 |
) |
|
|
- |
|
|
|
- |
|
|
|
(2,269 |
) |
|
|
- |
|
|
|
(2,269 |
) |
Common shares in non-qualified plans |
|
53 |
|
|
|
- |
|
|
|
- |
|
|
|
53 |
|
|
|
- |
|
|
|
53 |
|
Stock-based compensation |
|
3,104 |
|
|
|
- |
|
|
|
- |
|
|
|
3,104 |
|
|
|
- |
|
|
|
3,104 |
|
Purchase and retirement of common shares |
|
(1,566 |
) |
|
|
- |
|
|
|
(12,129 |
) |
|
|
(13,695 |
) |
|
|
- |
|
|
|
(13,695 |
) |
Cash dividends declared |
|
- |
|
|
|
- |
|
|
|
(9,432 |
) |
|
|
(9,432 |
) |
|
|
- |
|
|
|
(9,432 |
) |
Balance at November 30, 2025 |
$ |
308,689 |
|
|
$ |
3,535 |
|
|
$ |
650,375 |
|
|
$ |
962,599 |
|
|
$ |
424 |
|
|
$ |
963,023 |
|
Net earnings (loss) |
|
- |
|
|
|
- |
|
|
|
45,463 |
|
|
|
45,463 |
|
|
|
(343 |
) |
|
|
45,120 |
|
Other comprehensive income |
|
- |
|
|
|
6,157 |
|
|
|
- |
|
|
|
6,157 |
|
|
|
- |
|
|
|
6,157 |
|
Common shares issued, net of withholding tax |
|
(15 |
) |
|
|
- |
|
|
|
- |
|
|
|
(15 |
) |
|
|
- |
|
|
|
(15 |
) |
Common shares in non-qualified plans |
|
33 |
|
|
|
- |
|
|
|
- |
|
|
|
33 |
|
|
|
- |
|
|
|
33 |
|
Stock-based compensation |
|
3,046 |
|
|
|
- |
|
|
|
- |
|
|
|
3,046 |
|
|
|
- |
|
|
|
3,046 |
|
Purchase and retirement of common shares |
|
(630 |
) |
|
|
- |
|
|
|
(4,744 |
) |
|
|
(5,374 |
) |
|
|
- |
|
|
|
(5,374 |
) |
Cash dividends declared |
|
- |
|
|
|
- |
|
|
|
(9,430 |
) |
|
|
(9,430 |
) |
|
|
- |
|
|
|
(9,430 |
) |
Balance at February 28, 2026 |
$ |
311,123 |
|
|
$ |
9,692 |
|
|
$ |
681,664 |
|
|
$ |
1,002,479 |
|
|
$ |
81 |
|
|
$ |
1,002,560 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Controlling Interest |
|
|
|
|
|
|
|
|
Additional |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Paid In |
|
|
AOCI |
|
|
Retained |
|
|
|
|
|
Noncontrolling |
|
|
|
|
|
Capital |
|
|
Net of Tax |
|
|
Earnings |
|
|
Subtotal |
|
|
Interest |
|
|
Total |
|
Balance at May 31, 2024 |
$ |
299,033 |
|
|
$ |
454 |
|
|
$ |
589,392 |
|
|
$ |
888,879 |
|
|
$ |
2,133 |
|
|
$ |
891,012 |
|
Net earnings (loss) |
|
- |
|
|
|
- |
|
|
|
24,253 |
|
|
|
24,253 |
|
|
|
(245 |
) |
|
|
24,008 |
|
Other comprehensive income |
|
- |
|
|
|
484 |
|
|
|
- |
|
|
|
484 |
|
|
|
- |
|
|
|
484 |
|
Common shares issued, net of withholding tax |
|
(3,158 |
) |
|
|
- |
|
|
|
- |
|
|
|
(3,158 |
) |
|
|
- |
|
|
|
(3,158 |
) |
Common shares in non-qualified plans |
|
32 |
|
|
|
- |
|
|
|
- |
|
|
|
32 |
|
|
|
- |
|
|
|
32 |
|
Stock-based compensation |
|
6,216 |
|
|
|
- |
|
|
|
- |
|
|
|
6,216 |
|
|
|
- |
|
|
|
6,216 |
|
Purchase and retirement of common shares |
|
(884 |
) |
|
|
- |
|
|
|
(5,919 |
) |
|
|
(6,803 |
) |
|
|
- |
|
|
|
(6,803 |
) |
Cash dividends declared |
|
- |
|
|
|
- |
|
|
|
(8,550 |
) |
|
|
(8,550 |
) |
|
|
- |
|
|
|
(8,550 |
) |
Balance at August 31, 2024 |
$ |
301,239 |
|
|
$ |
938 |
|
|
$ |
599,176 |
|
|
$ |
901,353 |
|
|
$ |
1,888 |
|
|
$ |
903,241 |
|
Net earnings (loss) |
|
- |
|
|
|
- |
|
|
|
28,260 |
|
|
|
28,260 |
|
|
|
(251 |
) |
|
|
28,009 |
|
Other comprehensive income |
|
- |
|
|
|
(3,320 |
) |
|
|
- |
|
|
|
(3,320 |
) |
|
|
- |
|
|
|
(3,320 |
) |
Common shares issued, net of withholding tax |
|
(3,893 |
) |
|
|
- |
|
|
|
- |
|
|
|
(3,893 |
) |
|
|
- |
|
|
|
(3,893 |
) |
Common shares in non-qualified plans |
|
56 |
|
|
|
- |
|
|
|
- |
|
|
|
56 |
|
|
|
- |
|
|
|
56 |
|
Stock-based compensation |
|
5,539 |
|
|
|
- |
|
|
|
- |
|
|
|
5,539 |
|
|
|
- |
|
|
|
5,539 |
|
Purchase and retirement of common shares |
|
(1,212 |
) |
|
|
- |
|
|
|
(6,867 |
) |
|
|
(8,079 |
) |
|
|
- |
|
|
|
(8,079 |
) |
Cash dividends declared |
|
- |
|
|
|
- |
|
|
|
(8,595 |
) |
|
|
(8,595 |
) |
|
|
- |
|
|
|
(8,595 |
) |
Balance at November 30, 2024 |
$ |
301,729 |
|
|
$ |
(2,382 |
) |
|
$ |
611,974 |
|
|
$ |
911,321 |
|
|
$ |
1,637 |
|
|
$ |
912,958 |
|
Net earnings (loss) |
|
- |
|
|
|
- |
|
|
|
39,663 |
|
|
|
39,663 |
|
|
|
(324 |
) |
|
|
39,339 |
|
Other comprehensive income |
|
- |
|
|
|
(1,995 |
) |
|
|
- |
|
|
|
(1,995 |
) |
|
|
- |
|
|
|
(1,995 |
) |
Common shares issued, net of withholding tax |
|
(22 |
) |
|
|
- |
|
|
|
- |
|
|
|
(22 |
) |
|
|
- |
|
|
|
(22 |
) |
Common shares in non-qualified plans |
|
33 |
|
|
|
- |
|
|
|
- |
|
|
|
33 |
|
|
|
- |
|
|
|
33 |
|
Stock-based compensation |
|
2,890 |
|
|
|
- |
|
|
|
- |
|
|
|
2,890 |
|
|
|
- |
|
|
|
2,890 |
|
Purchase and retirement of common shares |
|
(920 |
) |
|
|
- |
|
|
|
(5,250 |
) |
|
|
(6,170 |
) |
|
|
- |
|
|
|
(6,170 |
) |
Cash dividends declared |
|
- |
|
|
|
- |
|
|
|
(8,512 |
) |
|
|
(8,512 |
) |
|
|
- |
|
|
|
(8,512 |
) |
Balance at February 28, 2025 |
$ |
303,710 |
|
|
$ |
(4,377 |
) |
|
$ |
637,875 |
|
|
$ |
937,208 |
|
|
$ |
1,313 |
|
|
$ |
938,521 |
|
The following table summarizes the changes in AOCI for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Currency Translation |
|
|
Pension Liability Adjustment |
|
|
Cash Flow Hedges |
|
|
AOCI |
|
Balance at May 31, 2025 |
$ |
2,581 |
|
|
$ |
(365 |
) |
|
$ |
1,834 |
|
|
$ |
4,050 |
|
OCI before reclassifications |
|
4,752 |
|
|
|
(19 |
) |
|
|
997 |
|
|
|
5,730 |
|
Reclassification adjustments to net earnings (1) |
|
- |
|
|
|
- |
|
|
|
(1,141 |
) |
|
|
(1,141 |
) |
Income tax effect |
|
1,004 |
|
|
|
4 |
|
|
|
45 |
|
|
|
1,053 |
|
Balance at February 28, 2026 |
$ |
8,337 |
|
|
$ |
(380 |
) |
|
$ |
1,735 |
|
|
$ |
9,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Currency Translation |
|
|
Pension Liability Adjustment |
|
|
Cash Flow Hedges |
|
|
AOCI |
|
Balance at May 31, 2024 |
$ |
(669 |
) |
|
$ |
(441 |
) |
|
$ |
1,564 |
|
|
$ |
454 |
|
OCI before reclassifications |
|
(4,433 |
) |
|
|
16 |
|
|
|
207 |
|
|
|
(4,210 |
) |
Reclassification adjustments to net earnings (1) |
|
- |
|
|
|
- |
|
|
|
368 |
|
|
|
368 |
|
Income tax effect |
|
(1,006 |
) |
|
|
151 |
|
|
|
(134 |
) |
|
|
(989 |
) |
Balance at February 28, 2025 |
$ |
(6,108 |
) |
|
$ |
(274 |
) |
|
$ |
2,005 |
|
|
$ |
(4,377 |
) |
—————————————————— (1)The statement of earnings classification of amounts reclassified to net income for cash flow hedges is disclosed in “Note N – Derivative Financial Instruments and Hedging Activities.” On March 24, 2021, the Board authorized the repurchase of up to 5,618,464 common shares. During the current year period, we repurchased a total of 450,000 common shares under this authorization leaving 4,915,000 common shares available for repurchase at February 28, 2026. Common shares may be repurchased from time to time, with consideration given to the market price of the common shares, the nature of other investment opportunities, cash flows from operations, general economic conditions and other relevant considerations. Repurchases may be made on the open market or through privately-negotiated transactions.
|