Fair Value Measurements (Tables)

9 Months Ended

Feb. 28, 2026

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

At February 28, 2026, our assets and liabilities measured at fair value on a recurring basis were as follows:


	(Level 1)		(Level 2)		(Level 3)		Totals
Assets
Derivative financial instruments (1)	$	-	$	1,003	$	-	$	1,003
Investment in marketable securities (2)		3,498		-		-		3,498
Total assets	$	3,498	$	1,003	$	-	$	4,501

Liabilities
Derivative financial instruments (1)	$	-	$	783	$	-	$	783
Total liabilities	$	-	$	783	$	-	$	783

At May 31, 2025, our assets and liabilities measured at fair value on a recurring basis were as follows:


	(Level 1)		(Level 2)		(Level 3)		Totals
Assets
Derivative financial instruments (1)	$	-	$	1,042	$	-	$	1,042
Total assets	$	-	$	1,042	$	-	$	1,042

Liabilities
Derivative financial instruments (1)	$	-	$	7,461	$	-	$	7,461
Total liabilities	$	-	$	7,461	$	-	$	7,461

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(1)

The fair value of our derivative financial instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “Note N – Derivative Financial Instruments and Hedging Activities” for additional information regarding our use of derivative financial instruments.

(2)

In exchange for our interest in the divested assets of the composite business of the SES joint venture, we received common shares of both Hexagon Composites and Hexagon Purus, which are recorded at fair value on a recurring basis and included in other assets in the consolidated balance sheet. Unrealized losses of $340 and $1,584, respectively, were recognized within Miscellaneous income (expense), net, during the current year quarter and current year period, as a result of this fair value measurement.