Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
May 31, 2026 |
|---|
| Accounting Policies [Abstract] |
|
| Property, Plant and Equipment |
Property, Plant & Equipment
|
|
|
|
|
|
|
|
|
May 31, |
|
2026 |
|
|
2025 |
|
(In thousands) |
|
|
|
|
|
|
Land |
|
$ |
94,877 |
|
|
$ |
96,259 |
|
Buildings and leasehold improvements |
|
|
813,496 |
|
|
|
754,088 |
|
Machinery and equipment |
|
|
2,010,685 |
|
|
|
1,888,026 |
|
Total property, plant and equipment, at cost |
|
|
2,919,058 |
|
|
|
2,738,373 |
|
Less: allowance for depreciation and amortization |
|
|
1,362,540 |
|
|
|
1,264,974 |
|
Property, plant and equipment, net |
|
$ |
1,556,518 |
|
|
$ |
1,473,399 |
|
|
| Useful Lives |
Depreciation is computed primarily using the straight-line method over the following ranges of useful lives:
|
|
|
Buildings and leasehold improvements |
|
1 to 50 years |
Machinery and equipment |
|
1 to 40 years |
|
| Major Classes of Inventories, Net of Reserves |
Inventories, net of reserves, were composed of the following major classes:
|
|
|
|
|
|
|
|
|
May 31, |
|
2026 |
|
|
2025 |
|
(In thousands) |
|
|
|
|
|
|
Raw materials and supplies |
|
$ |
410,187 |
|
|
$ |
387,785 |
|
Finished goods |
|
|
648,724 |
|
|
|
648,690 |
|
Total Inventory, Net of Reserves |
|
$ |
1,058,911 |
|
|
$ |
1,036,475 |
|
|
| Investment (Income), Net |
Investment (income), net, consists of the following components:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended May 31, |
|
2026 |
|
|
2025 |
|
|
2024 |
|
(In thousands) |
|
|
|
|
|
|
|
|
|
Interest (income) |
|
$ |
(14,848 |
) |
|
$ |
(13,335 |
) |
|
$ |
(20,947 |
) |
Net (gain) on marketable securities |
|
|
(25,422 |
) |
|
|
(4,997 |
) |
|
|
(19,914 |
) |
Dividend (income) |
|
|
(6,619 |
) |
|
|
(5,767 |
) |
|
|
(4,113 |
) |
Investment (income), net |
|
$ |
(46,889 |
) |
|
$ |
(24,099 |
) |
|
$ |
(44,974 |
) |
|
| Net (Gain) on Marketable Securities |
Net (Gain) on Marketable Securities
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended May 31, |
|
2026 |
|
|
2025 |
|
|
2024 |
|
(In thousands) |
|
|
|
|
|
|
|
|
|
Unrealized (gains) losses on marketable equity securities |
|
$ |
(22,452 |
) |
|
$ |
5,505 |
|
|
$ |
(19,703 |
) |
Realized (gains) on marketable equity securities |
|
|
(2,978 |
) |
|
|
(10,625 |
) |
|
|
(290 |
) |
Realized losses on available-for-sale debt securities |
|
|
8 |
|
|
|
123 |
|
|
|
79 |
|
Net (gain) on marketable securities |
|
$ |
(25,422 |
) |
|
$ |
(4,997 |
) |
|
$ |
(19,914 |
) |
|
| Other (Income) Expense, Net |
Other (income) expense, net, consists of the following components:
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ended May 31, |
|
2026 |
|
|
2025 |
|
|
2024 |
|
(In thousands) |
|
|
|
|
|
|
|
|
|
Pension non-service (credits) costs |
|
$ |
(9,969 |
) |
|
$ |
200 |
|
|
$ |
11,046 |
|
Other |
|
|
(1,543 |
) |
|
|
(1,794 |
) |
|
|
(882 |
) |
Other (income) expense, net |
|
$ |
(11,512 |
) |
|
$ |
(1,594 |
) |
|
$ |
10,164 |
|
|
| Supply Chain Financing |
The rollforward of outstanding obligations confirmed as valid under the supplier finance program is as follows:
|
|
|
|
|
|
|
Year Ended May 31, |
2026 |
|
2025 |
|
(In thousands) |
|
|
|
|
Beginning Balance |
$ |
38,987 |
|
$ |
32,899 |
|
Invoices confirmed during the year |
|
192,796 |
|
|
139,571 |
|
Confirmed invoices paid during the year |
|
(173,682 |
) |
|
(133,483 |
) |
Ending Balance |
$ |
58,101 |
|
$ |
38,987 |
|
|