| Assets and Liabilities Measured at Fair Value on Recurring Basis and Categorized using Fair Value Hierarchy |
The following tables present our assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy.
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
Significant
Other
Observable
Inputs (Level 2) |
|
Significant
Unobservable
Inputs (Level 3) |
|
Fair Value at
November 30, 2023 |
|
Available-for-sale debt securities: |
|
|
|
|
|
|
|
|
U.S. Treasury and other government |
$ |
- |
|
$ |
26,881 |
|
$ |
- |
|
$ |
26,881 |
|
Corporate bonds |
|
- |
|
|
137 |
|
|
- |
|
|
137 |
|
Total available-for-sale debt securities |
|
- |
|
|
27,018 |
|
|
- |
|
|
27,018 |
|
Marketable equity securities: |
|
|
|
|
|
|
|
|
Stocks – foreign |
|
1,146 |
|
|
- |
|
|
- |
|
|
1,146 |
|
Stocks – domestic |
|
9,791 |
|
|
- |
|
|
- |
|
|
9,791 |
|
Mutual funds – foreign |
|
- |
|
|
42,103 |
|
|
- |
|
|
42,103 |
|
Mutual funds – domestic |
|
- |
|
|
82,025 |
|
|
- |
|
|
82,025 |
|
Total marketable equity securities |
|
10,937 |
|
|
124,128 |
|
|
- |
|
|
135,065 |
|
Contingent consideration |
|
- |
|
|
- |
|
|
(2,298 |
) |
|
(2,298 |
) |
Total |
$ |
10,937 |
|
$ |
151,146 |
|
$ |
(2,298 |
) |
$ |
159,785 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
Quoted Prices
in Active
Markets for
Identical Assets
(Level 1) |
|
Significant
Other
Observable
Inputs (Level 2) |
|
Significant
Unobservable
Inputs (Level 3) |
|
Fair Value at
May 31,
2023 |
|
Available-for-sale debt securities: |
|
|
|
|
|
|
|
|
U.S. Treasury and other government |
$ |
- |
|
$ |
27,021 |
|
$ |
- |
|
$ |
27,021 |
|
Corporate bonds |
|
- |
|
|
141 |
|
|
- |
|
|
141 |
|
Total available-for-sale debt securities |
|
- |
|
|
27,162 |
|
|
- |
|
|
27,162 |
|
Marketable equity securities: |
|
|
|
|
|
|
|
|
Stocks – foreign |
|
786 |
|
|
- |
|
|
- |
|
|
786 |
|
Stocks – domestic |
|
5,009 |
|
|
- |
|
|
- |
|
|
5,009 |
|
Mutual funds – foreign |
|
- |
|
|
40,074 |
|
|
- |
|
|
40,074 |
|
Mutual funds – domestic |
|
- |
|
|
75,284 |
|
|
- |
|
|
75,284 |
|
Total marketable equity securities |
|
5,795 |
|
|
115,358 |
|
|
- |
|
|
121,153 |
|
Contingent consideration |
|
- |
|
|
- |
|
|
(2,686 |
) |
|
(2,686 |
) |
Total |
$ |
5,795 |
|
$ |
142,520 |
|
$ |
(2,686 |
) |
$ |
145,629 |
|
|
| Fair Value and Carrying Value of Cash and Cash Equivalents and Long-Term Debt |
Based on the analysis performed, the fair value and the carrying value of our cash and cash equivalents and long-term debt as of November 30, 2023 and May 31, 2023 are as follows:
|
|
|
|
|
|
|
|
|
|
At November 30, 2023 |
|
(In thousands) |
|
Carrying Value |
|
Fair Value |
|
Cash and cash equivalents |
|
$ |
262,746 |
|
$ |
262,746 |
|
Long-term debt, including current portion |
|
|
2,252,382 |
|
|
2,064,051 |
|
|
|
|
|
|
|
|
|
At May 31, 2023 |
|
(In thousands) |
|
Carrying Value |
|
Fair Value |
|
Cash and cash equivalents |
|
$ |
215,787 |
|
$ |
215,787 |
|
Long-term debt, including current portion |
|
|
2,683,809 |
|
|
2,490,863 |
|
|