v3.26.1
Borrowings (Tables)
 12 Months Ended
May 31, 2026
Debt Disclosure [Abstract]  
Description of Long-Term Debt

A description of long-term debt follows:

May 31,

 

2026

 

 

2025

 

(In thousands)

 

 

 

 

 

 

Total Long-Term Debt

 

 

 

 

 

 

Revolving credit facility with a syndicate of banks, through February 27, 2031 (1)

 

$

598,155

 

 

$

789,023

 

Accounts receivable securitization program with two banks, through April 30, 2028

 

 

274,000

 

 

 

190,000

 

Unsecured 3.75% notes due March 15, 2027 (2)

 

 

399,950

 

 

 

399,885

 

Unsecured 4.55% senior notes due March 1, 2029 (2)

 

 

349,835

 

 

 

349,782

 

Unsecured 2.95% notes due January 15, 2032 (2)

 

 

299,599

 

 

 

299,535

 

Unsecured 5.25% notes due June 1, 2045 (2)

 

 

301,320

 

 

 

301,363

 

Unsecured 4.25% notes due January 15, 2048 (2)

 

 

299,993

 

 

 

299,992

 

Other obligations, including finance leases and unsecured notes payable at various rates
   of interest due in installments through 2035

 

 

21,797

 

 

 

28,041

 

Unamortized debt issuance costs

 

 

(11,125

)

 

 

(11,008

)

 

 

 

2,533,524

 

 

 

2,646,613

 

Less: current portion

 

 

407,834

 

 

 

7,691

 

Total Long-Term Debt, Less Current Maturities

 

$

2,125,690

 

 

$

2,638,922

 

 

(1)
Interest as of May 31, 2026 was 4.63% for the USD denominated swingline account and the revolver, which are tied to SOFR; 2.93% on EUR denominated debt which is tied to ESTR; 3.25% on CAD denominated debt, which is tied to CORRA. The debt balances outstanding, excluding deferred financing fees, as of May 31, 2026 for the USD denominated swingline, USD denominated revolver, EUR denominated revolver, and CAD denominated revolver were as follows: $7.2 million, $55.0 million, $163.3 million, and $372.7 million.

Interest as of May 31, 2025 was 5.53% for the USD denominated swingline account, which is tied to SOFR; 3.31% on EUR denominated debt which is tied to ESTR; and 5.34% on GBP denominated debt, which is tied to the Sterling Overnight Index Average (SONIA). The debt balances outstanding, excluding deferred financing fees, as of May 31, 2025 for the USD denominated swingline, EUR denominated revolver, GBP denominated revolver, and CAD denominated revolver were as follows: $17.7 million, $271.2 million, $45.1 million, and $455.1 million.

(2)
Net of bond discounts and premiums of $0.7 million and $0.6 million at May 31, 2026 and 2025, respectively.