| Comprehensive Income (Loss) |
OCI: The following table summarizes the tax effects of each component of OCI for the prior three fiscal years:
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2026 |
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2025 |
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2024 |
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Before-
Tax |
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|
Tax |
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Net-of-
Tax |
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Before-
Tax |
|
|
Tax |
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Net-of-
Tax |
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Before-
Tax |
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|
Tax |
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Net-of-
Tax |
|
Foreign currency translation |
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$ |
6,548 |
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|
$ |
646 |
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|
$ |
7,194 |
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|
$ |
2,297 |
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|
$ |
953 |
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|
$ |
3,250 |
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|
$ |
10,578 |
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|
$ |
2 |
|
|
$ |
10,580 |
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Pension liability adjustment |
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|
120 |
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|
|
(25 |
) |
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|
95 |
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|
(83 |
) |
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|
159 |
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|
76 |
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|
9,603 |
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|
(2,330 |
) |
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|
7,273 |
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Cash flow hedges |
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(590 |
) |
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|
157 |
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(433 |
) |
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|
298 |
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(28 |
) |
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|
270 |
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8,545 |
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(2,048 |
) |
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|
6,497 |
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OCI |
|
$ |
6,078 |
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|
$ |
778 |
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|
$ |
6,856 |
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$ |
2,512 |
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|
$ |
1,084 |
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$ |
3,596 |
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|
$ |
28,726 |
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|
$ |
(4,376 |
) |
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$ |
24,350 |
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AOCI: The components of the changes in AOCI at the end of the prior two fiscal years were as follows:
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Foreign |
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Pension |
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Cash |
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Currency |
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|
Liability |
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Flow |
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Translation |
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Adjustment |
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Hedges |
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AOCI |
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Balance at May 31, 2024 |
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$ |
(669 |
) |
|
$ |
(441 |
) |
|
$ |
1,564 |
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|
$ |
454 |
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OCI before reclassifications |
|
|
2,297 |
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|
|
(83 |
) |
|
|
689 |
|
|
|
2,903 |
|
Reclassification adjustments to income (1) |
|
|
- |
|
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|
- |
|
|
|
(391 |
) |
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|
(391 |
) |
Income tax effect |
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|
953 |
|
|
|
159 |
|
|
|
(28 |
) |
|
|
1,084 |
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Balance at May 31, 2025 |
|
$ |
2,581 |
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|
$ |
(365 |
) |
|
$ |
1,834 |
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|
$ |
4,050 |
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OCI before reclassifications |
|
|
6,548 |
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|
|
120 |
|
|
|
1,569 |
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|
8,237 |
|
Reclassification adjustments to income (1) |
|
|
- |
|
|
|
- |
|
|
|
(2,159 |
) |
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|
(2,159 |
) |
Income tax effect |
|
|
646 |
|
|
|
(25 |
) |
|
|
157 |
|
|
|
778 |
|
Balance at May 31, 2026 |
|
$ |
9,775 |
|
|
$ |
(270 |
) |
|
$ |
1,401 |
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|
$ |
10,906 |
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(1)Cash flow hedges – disclosed in “Note Q – Derivative Instruments and Hedging Activities.” The estimated net amount of the gains recognized in AOCI at May 31, 2026, expected to be reclassified into net earnings within the succeeding 12 months is $484 (net of tax of $131). This amount was computed using the fair value of the cash flow hedges at May 31, 2026, and will change before actual reclassification from OCI to net earnings during fiscal 2027.
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