v3.26.1
Restructuring and Other Expense, Net (Tables)
 12 Months Ended
May 31, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense, Net

A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense, net financial statement caption in our consolidated statement of earnings for fiscal 2026, is summarized below:

 

 

 

Beginning

 

 

 

 

 

 

 

 

Ending

 

 

 

Balance

 

 

Expense

 

 

Payments

 

 

Balance

 

Early retirement and severance

 

$

585

 

 

$

941

 

 

$

(1,333

)

 

$

193

 

Other restructuring charges (1)

 

 

100

 

 

 

5,926

 

 

 

(6,026

)

 

 

-

 

 

 

$

685

 

 

$

6,867

 

 

$

(7,359

)

 

$

193

 

Net loss on sale of assets

 

 

 

 

 

233

 

 

 

 

 

 

 

Restructuring and other expense, net

 

 

 

 

$

7,100

 

 

 

 

 

 

 

 

 

 

(1)
During fiscal 2026 other restructuring charges consisted primarily of acquisition-related costs such as advisory, legal, and other professional fees.

 

The total liability as of May 31, 2026 is expected to be paid in the immediately following 12 months.

 

A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense, net financial statement caption in our consolidated statement of earnings for fiscal 2025, is summarized below:

 

 

 

Beginning

 

 

 

 

 

 

 

 

Ending

 

 

 

Balance

 

 

Expense

 

 

Payments

 

 

Balance

 

Early retirement and severance

 

$

188

 

 

$

1,993

 

 

$

(1,596

)

 

$

585

 

Other restructuring charges (1)

 

 

-

 

 

 

1,235

 

 

 

(1,135

)

 

 

100

 

 

 

$

188

 

 

$

3,228

 

 

$

(2,731

)

 

$

685

 

Net loss on sale of assets

 

 

 

 

 

95

 

 

 

 

 

 

 

Stock-based compensation (2)

 

 

 

 

 

2,665

 

 

 

 

 

 

 

Change in fair value of Ragasco earnout (3)

 

 

 

 

 

4,536

 

 

 

 

 

 

 

Restructuring and other expense, net

 

 

 

 

$

10,524

 

 

 

 

 

 

 

 

 

 

(1)
During fiscal 2025, other restructuring charges consisted primarily of acquisition-related costs such as advisory, legal, and other professional fees.
(2)
Reflects non-cash stock-based compensation expense related to the accelerated vesting of certain outstanding equity awards held by our former CEO upon his retirement, effective November 1, 2024.
(3)
Reflects the change in fair value of the contingent liability associated with the Ragasco earnout arrangement covering the 12-month period ended December 31, 2024. See “Note P – Acquisitions” for additional information.