Quarterly report pursuant to Section 13 or 15(d)

Derivatives & Risk Management

v3.3.0.814
Derivatives & Risk Management
 3 Months Ended
Aug. 31, 2015
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 August 31, 2015 and May 31, 2015:
 
Balance Sheet Location
August 31,
2015
 
May 31,
2015
Assets:
 
 
 
 
Foreign currency forward contracts
Prepaid and other current assets
$
2,597

 
$
697

Foreign currency forward contracts
Other non-current assets
—

 
54

 
 
 
 
 
Liabilities:
 
 
 
 
Foreign currency forward contracts
Accrued liabilities
—

 
141

Variable cash settlement
Accrued liabilities
126

 
—

Foreign currency forward contracts
Other non-current liabilities
125

 
—

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 months ended August 31, 2015 in addition to the derivative contract type:
 
 
 
Three Months Ended August 31,
Derivatives not designated as hedging instruments
 
Location of (gain) loss recognized in income on derivative instruments
2015
 
2014
Foreign currency forward contracts
 
Realized (gain) loss on derivatives
$
141

 
$
(2,177
)
Foreign currency forward contracts
 
Unrealized (gain) loss on derivatives
(2,047
)
 
1,501

Variable cash settlement
 
Selling, general and administrative expenses
111

 
(169
)