v3.26.1
Comprehensive Income (Loss)
 12 Months Ended
May 31, 2026
Equity [Abstract]  
Comprehensive Income (Loss)

Note 10 – Comprehensive Income (Loss)

Other Comprehensive Income (Loss): The following table summarizes the tax effects of each component of other comprehensive income (loss) for fiscal 2026, 2025, and 2024.

 

 

2026

 

 

2025

 

 

2024

 

(In millions)

Before-
Tax

 

 

Tax

 

 

Net-of-
Tax

 

 

Before-
Tax

 

 

Tax

 

 

Net-of-
Tax

 

 

Before-
Tax

 

 

Tax

 

 

Net-of-
Tax

 

Currency translation adjustments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation, net

$

7.4

 

 

$

-

 

 

$

7.4

 

 

$

1.2

 

 

$

-

 

 

$

1.2

 

 

$

(1.3

)

 

$

-

 

 

$

(1.3

)

Net investment hedge

 

(1.8

)

 

 

0.5

 

 

 

(1.3

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Pension liability adjustment

 

3.8

 

 

 

0.2

 

 

 

4.0

 

 

 

(1.4

)

 

 

0.3

 

 

 

(1.1

)

 

 

3.1

 

 

 

(0.7

)

 

 

2.4

 

Cash flow hedges

 

4.0

 

 

 

(1.0

)

 

 

3.0

 

 

 

2.6

 

 

 

(0.6

)

 

 

2.0

 

 

 

(6.7

)

 

 

1.6

 

 

 

(5.1

)

Other comprehensive income (loss)

$

13.4

 

 

$

(0.3

)

 

$

13.1

 

 

$

2.4

 

 

$

(0.3

)

 

$

2.1

 

 

$

(4.9

)

 

$

0.9

 

 

$

(4.0

)

Accumulated Other Comprehensive Income (Loss): The components of the changes in AOCI at the end of fiscal 2026, 2025, and 2024.

 

 

Currency Translation Adjustments

 

 

 

 

 

 

 

 

 

 

 

Foreign

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

Currency

 

 

Net

 

 

Foreign

 

 

Pension

 

 

Cash

 

 

 

 

 

Translation,

 

 

Investment

 

 

Currency

 

 

Liability

 

 

Flow

 

 

 

 

(In millions)

Net

 

 

Hedge

 

 

Translation

 

 

Adjustment

 

 

Hedges

 

 

AOCI

 

Balance at May 31, 2024

$

(11.9

)

 

$

-

 

 

$

(11.9

)

 

$

8.4

 

 

$

(2.6

)

 

$

(6.1

)

OCI before reclassifications

 

1.2

 

 

 

-

 

 

 

1.2

 

 

 

1.8

 

 

 

(4.8

)

 

 

(1.8

)

Reclassification adjustments to income(1)

 

-

 

 

 

-

 

 

 

-

 

 

 

(3.2

)

 

 

7.4

 

 

 

4.2

 

Income tax effect

 

-

 

 

 

-

 

 

 

-

 

 

 

0.3

 

 

 

(0.6

)

 

 

(0.3

)

Balance at May 31, 2025

$

(10.7

)

 

$

-

 

 

$

(10.7

)

 

$

7.3

 

 

$

(0.6

)

 

$

(4.0

)

OCI before reclassifications

 

4.5

 

 

 

(1.8

)

 

 

2.7

 

 

 

2.2

 

 

 

6.5

 

 

 

11.4

 

Reclassification adjustments to income(1)

 

-

 

 

 

-

 

 

 

-

 

 

 

(0.7

)

 

 

(2.5

)

 

 

(3.2

)

Income tax effect

 

-

 

 

 

0.5

 

 

 

0.5

 

 

 

0.2

 

 

 

(1.0

)

 

 

(0.3

)

Balance at May 31, 2026

$

(6.2

)

 

$

(1.3

)

 

$

(7.5

)

 

$

9.0

 

 

$

2.4

 

 

$

3.9

 

 

 

(1)
The statements of earnings classification of amounts reclassified to net income include:
a.
Cash flow hedges – disclosed in “Note 16 – Derivative Financial Instruments and Hedging Activities”; and
b.
Pension liability adjustment – reflects the following pension liability adjustments as disclosed in “Note 13 – Employee Retirement Plans”
i.
Amortization of net (gain) loss of the Pension Benefits and Other Benefits.
ii.
The acceleration of deferred pension costs in AOCI related to the pension plan lift-out transaction to transfer a portion of the total projected benefit obligation of the Tempel pension plan to a third-party insurance company.
iii.
Recognition of a gain in fiscal 2026 related to a pension settlement due to net lump sum payments being higher than the settlement threshold.