Quarterly report pursuant to Section 13 or 15(d)

Derivatives & Risk Management

v3.3.1.900
Derivatives & Risk Management
9 Months Ended
Feb. 29, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives & Risk Management
DERIVATIVES & RISK MANAGEMENT

The following table summarizes the fair value of derivative instruments by contract type as well as the location of the asset and/or liability on the consolidated balance sheets at February 29, 2016 and May 31, 2015, respectively:
 
Balance Sheet Location
 
February 29,
2016
 
May 31,
2015
Assets:
 
 
 
 
 
Foreign currency forward contracts
Prepaid and other current assets
 
$
1,637

 
$
697

Foreign currency forward contracts
Other non-current assets
 
321

 
54

 
 
 
 
 
 
Liabilities:
 
 
 
 
 
Foreign currency forward contracts
Accrued liabilities
 
2,485

 
141

Variable cash settlement
Accrued liabilities
 
476

 

Foreign currency forward contracts
Other non-current liabilities
 
543

 

Variable cash settlement
Other non-current liabilities
 

 
20



The following table summarizes the location of gains and losses on the consolidated statements of income that were recognized during the three and nine months ended February 29, 2016, respectively, in addition to the derivative contract type:
 
 
 
 
Three Months Ended February 29 and 28,
 
Nine Months Ended February 29 and 28,
Derivatives not designated as hedging instruments
 
Location of (gain) loss recognized in income on derivative instruments
 
2016
 
2015
 
2016
 
2015
Foreign currency forward contracts
 
Realized gain on derivatives
 
$
(746
)
 
$
(1,431
)
 
$
(1,983
)
 
$
(4,878
)
Foreign currency forward contracts
 
Unrealized loss on derivatives
 
2,589

 
56

 
1,224

 
994

Variable cash settlement
 
Selling, general and administrative expenses
 
279

 
(43
)
 
453

 
(279
)