Worthington Industries (WOR) 10-Q 6 Jan 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Nov. 30, 2016	Dec. 30, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2016
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Trading Symbol	WOR
Entity Registrant Name	WORTHINGTON INDUSTRIES INC
Entity Central Index Key	108,516
Current Fiscal Year End Date	--05-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		63,673,654

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2016	May 31, 2016
Current assets:
Cash and cash equivalents	$ 175,180	$ 84,188
Receivables, less allowances of $3,499 and $4,579 at November 30, 2016 and May 31, 2016, respectively	429,011	439,688
Inventories:
Raw materials	168,586	162,427
Work in process	85,933	86,892
Finished products	83,339	70,016
Total inventories	337,858	319,335
Income taxes receivable	7,997	10,535
Assets held for sale	10,050	10,079
Prepaid expenses and other current assets	47,385	51,290
Total current assets	1,007,481	915,115
Investments in unconsolidated affiliates	203,508	191,826
Goodwill	243,918	246,067
Other intangible assets, net of accumulated amortization of $56,220 and $49,532 at November 30, 2016 and May 31, 2016, respectively	88,588	96,164
Other assets	27,914	29,254
Property, plant and equipment:
Land	18,397	18,537
Buildings and improvements	257,950	256,973
Machinery and equipment	973,941	945,951
Construction in progress	34,732	48,156
Total property, plant and equipment	1,285,020	1,269,617
Less: accumulated depreciation	713,705	686,779
Total property, plant and equipment, net	571,315	582,838
Total assets	2,142,724	2,061,264
Current liabilities:
Accounts payable	278,192	290,432
Short-term borrowings	497	2,651
Accrued compensation, contributions to employee benefit plans and related taxes	65,308	75,105
Dividends payable	14,182	13,471
Other accrued items	41,815	45,056
Income taxes payable	3,364	2,501
Current maturities of long-term debt	873	862
Total current liabilities	404,231	430,078
Other liabilities	63,910	63,487
Distributions in excess of investment in unconsolidated affiliate	67,516	52,983
Long-term debt	576,038	577,491
Deferred income taxes, net	20,267	17,379
Total liabilities	1,131,962	1,141,418
Shareholders' equity-controlling interest	884,940	793,371
Noncontrolling interests	125,822	126,475
Total equity	1,010,762	919,846
Total liabilities and equity	$ 2,142,724	$ 2,061,264

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2016	May 31, 2016
Receivables, allowances	$ 3,499	$ 4,579
Other intangible assets, accumulated amortization	$ 56,220	$ 49,532

Consolidated Statements of Earn

Consolidated Statements of Earnings - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Net sales	$ 727,780	$ 699,816	$ 1,465,329	$ 1,457,963
Cost of goods sold	604,977	590,637	1,195,244	1,235,768
Gross margin	122,803	109,179	270,085	222,195
Selling, general and administrative expense	76,487	72,722	157,543	148,673
Impairment of long-lived assets		22,962	0	25,962
Restructuring and other expense	3,272	1,523	4,600	4,592
Operating income	43,044	11,972	107,942	42,968
Other income (expense):
Miscellaneous income, net	872	996	1,735	418
Interest expense	(7,658)	(7,799)	(15,528)	(15,653)
Equity in net income of unconsolidated affiliates	27,124	29,247	61,668	55,828
Earnings before income taxes	63,382	34,416	155,817	83,561
Income tax expense	13,515	8,665	37,414	22,815
Net earnings	49,867	25,751	118,403	60,746
Net earnings attributable to noncontrolling interests	3,302	2,375	6,271	5,402
Net earnings attributable to controlling interest	$ 46,565	$ 23,376	$ 112,132	$ 55,344
Basic
Average common shares outstanding	62,348	62,676	62,115	63,338
Earnings per share attributable to controlling interest	$ 0.75	$ 0.37	$ 1.81	$ 0.87
Diluted
Average common shares outstanding	64,725	64,663	64,599	65,350
Earnings per share attributable to controlling interest	$ 0.72	$ 0.36	$ 1.74	$ 0.85
Common shares outstanding at end of period	62,562	62,101	62,562	62,101
Cash dividends declared per share	$ 0.20	$ 0.19	$ 0.40	$ 0.38

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Net earnings	$ 49,867	$ 25,751	$ 118,403	$ 60,746
Other comprehensive income (loss):
Foreign currency translation	(7,517)	(9,214)	(8,182)	(7,391)
Pension liability adjustment, net of tax				(8)
Cash flow hedges, net of tax	1,652	(2,523)	2,277	(1,893)
Other comprehensive loss	(5,865)	(11,737)	(5,905)	(9,292)
Comprehensive income	44,002	14,014	112,498	51,454
Comprehensive income attributable to noncontrolling interests	3,155	1,760	6,128	4,731
Comprehensive income attributable to controlling interest	$ 40,847	$ 12,254	$ 106,370	$ 46,723

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Operating activities:
Net earnings	$ 49,867	$ 25,751	$ 118,403	$ 60,746
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation and amortization	21,645	20,547	43,476	41,987
Impairment of long-lived assets		22,962	0	25,962
Provision for (benefit from) deferred income taxes	2,316	(9,851)	2,336	(15,391)
Bad debt (income) expense	232	(2)	151	8
Equity in net income of unconsolidated affiliates, net of distributions	(2,824)	(10,389)	1,074	(15,902)
Net (gain) loss on sale of assets	(2,912)	(5,854)	1,484	(4,248)
Stock-based compensation	3,824	3,880	6,960	7,657
Changes in assets and liabilities, net of impact of acquisitions :
Receivables	(7,156)	23,474	9,798	66,103
Inventories	31,875	31,645	(18,523)	23,821
Prepaid expenses and other current assets	(1,737)	17,467	5,425	28,633
Other assets	1,165	(3,245)	2,411	(2,803)
Accounts payable and accrued expenses	(65,946)	(72,846)	(22,885)	(31,220)
Other liabilities	950	7,487	2,094	4,300
Net cash provided by operating activities	31,299	51,026	152,204	189,653
Investing activities:
Investment in property, plant and equipment	(14,730)	(21,995)	(31,046)	(60,492)
Acquisitions, net of cash acquired		(2,950)		(2,950)
Investments in unconsolidated affiliates		(226)		(1,913)
Proceeds from sale of assets	799	9,325	956	9,456
Net cash used by investing activities	(13,931)	(15,846)	(30,090)	(55,899)
Financing activities:
Net proceeds from (repayments of) short-term borrowings	(1,037)	27,499	(2,154)	(41,012)
Proceeds from long-term debt				921
Principal payments on long-term debt	(218)	(220)	(437)	(428)
Proceeds from issuance of common shares, net of tax withholdings	(2,849)	3,666	2,972	3,064
Payments to noncontrolling interests	(6,781)	(1,564)	(6,781)	(4,900)
Repurchase of common shares		(43,914)		(71,496)
Dividends paid	(12,828)	(12,065)	(24,722)	(23,616)
Net cash used by financing activities	(23,713)	(26,598)	(31,122)	(137,467)
Increase (decrease) in cash and cash equivalents	(6,345)	8,582	90,992	(3,713)
Cash and cash equivalents at beginning of period	181,525	18,772	84,188	31,067
Cash and cash equivalents at end of period	$ 175,180	$ 27,354	$ 175,180	$ 27,354

Basis of Presentation

Basis of Presentation	6 Months Ended
	Nov. 30, 2016
Basis of Presentation	NOTE A – Basis of Presentation The consolidated financial statements include the accounts of Worthington Industries, Inc. and consolidated subsidiaries (collectively, “we,” “our,” “Worthington,” or the “Company”). Investments in unconsolidated affiliates are accounted for using the equity method. Significant intercompany accounts and transactions are eliminated. We own controlling interests in the following six joint ventures: dHybrid Systems, LLC (“dHybrid”) (79.59%), Spartan Steel Coating, LLC (“Spartan”) (52%), TWB Company, L.L.C. (“TWB”) (55%), Worthington Ar 1 taş Bas 1 nçl 1 Kaplar Sanayi (“Worthington Aritas”) (75%), Worthington Energy Innovations, LLC (“WEI”) (75%), and Worthington Specialty Processing (“WSP”) (51%). These joint ventures are consolidated with the equity owned by the other joint venture members shown as noncontrolling interests in our consolidated balance sheets, and their portions of net earnings and other comprehensive loss (“OCI”) shown as net earnings or comprehensive income attributable to noncontrolling interests in our consolidated statements of earnings and consolidated statements of comprehensive income, respectively. These unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X of the Securities and Exchange Commission (“SEC”). Accordingly, they do not include all of the information and notes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments, which are of a normal and recurring nature, except those which have been disclosed elsewhere in this Quarterly Report on Form 10-Q, necessary for a fair presentation of the consolidated financial statements for these interim periods, have been included. Operating results for the three and six months ended November 30, 2016 are not necessarily indicative of the results that may be expected for the fiscal year ending May 31, 2017 (“fiscal 2017”). For further information, refer to the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended May 31, 2016 (“fiscal 2016”) of Worthington Industries, Inc. (the “2016 Form 10-K”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates. Recently Adopted Accounting Standards In February 2015, amended accounting guidance was issued that revised consolidation requirements in order to provide financial statement users with a more useful presentation of an entity’s economic and operational results. The amended guidance revises the consolidation requirements for limited partnerships, the considerations surrounding the primary beneficiary determination and the consolidation of certain investment funds. The Company adopted this amended guidance on a prospective basis effective June 1, 2016. The adoption of this guidance did not impact our consolidated financial position or results of operations. In April 2015, amended accounting guidance was issued that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the corresponding debt liability itself. The amended guidance does not apply to line-of-credit arrangements. Accordingly, issuance costs related to line-of-credit arrangements will continue to be presented as an asset and amortized ratably over the term of the arrangement. The Company adopted this guidance on a retrospective basis effective June 1, 2016. As a result, debt issuance costs totaling $2,319,000 and $2,491,000 as of November 30, 2016 and May 31, 2016, respectively, have been presented as a component of the carrying amount of long-term debt reported in our consolidated balance sheets. These amounts were previously capitalized and reported within other assets. In September 2015, amended accounting guidance was issued regarding adjustments to provisional amounts recorded in conjunction with a business combination. The amended guidance requires the acquirer to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which such adjustments are identified, rather than retrospectively adjusting previously reported amounts. The Company adopted this amended guidance on a prospective basis effective June 1, 2016. The adoption of this guidance did not impact our consolidated financial position or results of operations. In March 2016, amended accounting guidance was issued that simplifies the accounting for share-based payments. The amended guidance impacts several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, statutory withholding requirements, and classification in the statement of cash flows. The Company early adopted this guidance during the fourth quarter of fiscal 2016. As required for early adoption in an interim period, all adjustments have been reflected as of the beginning of fiscal 2016. Accordingly, income tax expense for the three and six months ended November 30, 2015 has been restated to reflect excess tax benefits associated with share-based payments totaling $136,000 and $694,000, respectively, in current income tax expense, rather than in paid-in capital. Recently Issued Accounting Standards In May 2014, amended accounting guidance was issued that replaces most existing revenue recognition guidance under U.S. GAAP. The amended guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. Subsequently, additional guidance was issued on several areas including guidance intended to improve the operability and understandability of the implementation of principal versus agent considerations and clarifications on the identification of performance obligations and implementation of guidance related to licensing. The amended guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amended guidance permits the use of either the retrospective or cumulative effect transition method. We are in the process of evaluating the effect this guidance will have on the presentation of our consolidated financial statements and related disclosures. Our evaluation is ongoing and not complete. However, we currently do not anticipate a material impact on our revenue recognition practices. We expect to make a determination as to the timing and method of adoption in the second half of fiscal 2017. In July 2015, amended accounting guidance was issued regarding the measurement of inventory. The amended guidance requires that inventory accounted for under the first-in, first-out (FIFO) or average cost methods be measured at the lower of cost and net realizable value, where net realizable value represents the estimated selling price of inventory in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amended guidance has no impact on inventory accounted for under the last-in, first-out (LIFO) or retail inventory methods. The amended guidance is effective prospectively for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of this amended accounting guidance to have a material impact on our consolidated financial position or results of operations. In February 2016, amended accounting guidance was issued that replaces most existing lease accounting guidance under U.S. GAAP. Among other changes, the amended guidance requires that lease assets and liabilities be recognized on the balance sheet by lessees for those leases classified as operating leases under previous guidance. The amended guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted, and the change is to be applied using a modified retrospective approach as of the beginning of the earliest period presented. We are in the process of evaluating the effect this guidance will have on our consolidated financial position, results of operations and cash flows, and we have not determined the effect of the amended guidance on our ongoing financial reporting. In March 2016, amended accounting guidance was issued regarding derivative instruments designated as hedging instruments. The amended guidance clarifies that a change in the counterparty to such a hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The amended guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, and the change may be applied either prospectively or retrospectively. We do not expect the adoption of this amended accounting guidance to have a material impact on our consolidated financial position or results of operations. In June 2016, amended accounting guidance was issued related to the measurement of credit losses on financial instruments. The amended guidance changes the impairment model for most financial assets to require measurement and recognition of expected credit losses for financial assets held. The amended guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are in the process of evaluating the effect this guidance will have on our consolidated financial position and results of operations, and we have not determined the effect of the amended guidance on our ongoing financial reporting. In August 2016, amended accounting guidance was issued to clarify the proper cash flow presentation of certain specific types of cash payments and cash receipts. The amended guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. We are in the process of evaluating the effect this guidance will have on our consolidated financial position, results of operations and cash flows, and we have not determined the effect of the amended guidance on our ongoing financial reporting. In October 2016, amended accounting guidance was issued that requires the income tax consequences of an intra-entity transfer of an asset other than inventory to be recognized when the transfer occurs. The amended guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. We are in the process of evaluating the effect this guidance will have on our consolidated financial position, results of operations and cash flows, and have not determined the effect of the amended guidance on our ongoing financial reporting.

Investments in Unconsolidated A

Investments in Unconsolidated Affiliates	6 Months Ended
	Nov. 30, 2016
Unconsolidated Affiliates
Investments in Unconsolidated Affiliates	NOTE B – Investments in Unconsolidated Affiliates Our investments in affiliated companies that we do not control, either through majority ownership or otherwise, are accounted for using the equity method. These include ArtiFlex Manufacturing, LLC (“ArtiFlex”) (50%), Clarkwestern Dietrich Building Systems LLC (“ClarkDietrich”) (25%), Samuel Steel Pickling Company (31.25%), Serviacero Planos, S. de R. L. de C.V. (“Serviacero”) (50%), Worthington Armstrong Venture (“WAVE”) (50%), and Zhejiang Nisshin Worthington Precision Specialty Steel Co., Ltd. (10%). We received distributions from unconsolidated affiliates totaling $62,742,000 during the six months ended November 30, 2016. We have received cumulative distributions from WAVE in excess of our investment balance totaling $67,516,000 at November 30, 2016. In accordance with the applicable accounting guidance, these excess distributions are reclassified to the liabilities section of our consolidated balance sheet. We will continue to record our equity in the net income of WAVE as a debit to the investment account, and if it becomes positive, it will again be shown as an asset on our consolidated balance sheet. If it becomes obvious that any excess distribution may not be returned (upon joint venture liquidation or otherwise), we will recognize any balance classified as a liability as income immediately. We use the “cumulative earnings” approach for determining cash flow presentation of distributions from our unconsolidated joint ventures. Distributions received are included in our consolidated statements of cash flows as operating activities, unless the cumulative distributions received, less distributions received in prior periods that were determined to be returns of investment, exceed our portion of the cumulative equity in the net earnings of the joint venture, in which case the excess distributions are deemed to be returns of the investment and are classified as investing activities in our consolidated statements of cash flows. Combined financial information for our unconsolidated affiliates is summarized as follows: (in thousands) November 30, May 31, Cash $ 59,751 $ 112,122 Other current assets 523,625 446,796 Noncurrent assets 352,117 352,370 Total assets $ 935,493 $ 911,288 Current liabilities $ 141,808 $ 112,491 Short-term borrowings 9,210 11,398 Current maturities of long-term debt 2,807 3,297 Long-term debt 263,646 266,942 Other noncurrent liabilities 19,834 21,034 Equity 498,188 496,126 Total liabilities and equity $ 935,493 $ 911,288 Three Months Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Net sales $ 387,192 $ 389,185 $ 804,307 $ 793,648 Gross margin 96,541 84,767 220,738 173,785 Operating income 67,365 55,810 161,762 117,057 Depreciation and amortization 6,973 8,068 13,793 16,165 Interest expense 2,151 2,136 4,299 4,295 Income tax expense 3,545 2,164 11,063 4,723 Net earnings 63,444 71,144 149,511 134,070 The financial results of WSP have been included in the amounts presented in the tables above through March 1, 2016. Effective March 1, 2016, the Company obtained effective control over the operations of WSP. As a result, WSP’s results have been consolidated within the financial results of Steel Processing since that date with the minority member’s portion of earnings eliminated within earnings attributable to noncontrolling interests.

Impairment of Long-Lived Assets

Impairment of Long-Lived Assets	6 Months Ended
	Nov. 30, 2016
Impairment of Long-Lived Assets	NOTE C – Impairment of Long-Lived Assets We review the carrying value of our long-lived assets, including intangible assets with definite useful lives, for impairment whenever events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable. Impairment testing of long-lived assets with definite useful lives involves a comparison of the sum of the undiscounted future cash flows of the asset or asset group to its respective carrying amount. If the sum of the undiscounted future cash flows exceeds the carrying amount, then no impairment exists. If the carrying amount exceeds the sum of the undiscounted future cash flows, then a second step is performed to determine the amount of impairment, which would be recorded as an impairment charge in our consolidated statement of earnings. No impairment charges were recognized during the six months ended November 30, 2016. Impairment charges during the six months ended November 30, 2015, consisted of $3,000,000 related to the then remaining long-lived assets of the Company’s Engineered Cabs facility in Florence, South Carolina, which ceased operations on September 30, 2015, and $22,962,000 for the impairment of the long-lived assets of two oil & gas equipment facilities triggered by a significant decrease in the long-term cash flow projections of that business. For further information, refer to the consolidated financial statements and notes thereto included in the Company’s 2016 Form 10-K.

Restructuring and Other Expense

Restructuring and Other Expense	6 Months Ended
	Nov. 30, 2016
Restructuring and Other Expense	NOTE D – Restructuring and Other Expense We consider restructuring activities to be programs whereby we fundamentally change our operations such as closing and consolidating manufacturing facilities, moving manufacturing of a product to another location, and rationalizing headcount. A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense financial statement caption in our consolidated statement of earnings for the six months ended November 30, 2016 is summarized as follows: (in thousands) Beginning Expense Payments Adjustments Ending Early retirement and severance $ 1,831 $ 1,572 $ (2,707 ) $ 39 $ 735 Facility exit and other costs 653 2,019 (1,295 ) - 1,377 $ 2,484 3,591 $ (4,002 ) $ 39 $ 2,112 Net loss on sale of assets 1,009 Restructuring and other expense $ 4,600 During the six months ended November 30, 2016, the following activities were taken related to the Company’s restructuring activities: • The Company announced certain organizational changes impacting its Pressure Cylinders operating segment, including the consolidation of the Cryogenics business unit into the Industrial Products business unit. In connection with this matter, the Company recognized severance expense of $1,356,000 related to permanent headcount reductions. • In connection with the closure of the Company’s stainless steel business, Precision Specialty Metals, Inc. (“PSM”), the Company recognized $1,264,000 of facility exit costs. • In connection with the closure of the Engineered Cabs facility in Florence, South Carolina, the Company recognized facility exit costs of $307,000. The Company also recognized a net loss of $101,000 related to the disposal of assets. • In connection with the consolidation of the Company’s existing cryogenics facility in Istanbul, Turkey, to its Greenfield facility in Bandirma, Turkey, the Company recognized facility exit costs of $421,000 and severance expense of $309,000. The consolidation is expected to be complete in the second half of fiscal 2017. • The Company sold the remaining real estate of the legacy Advanced Component Technologies, Inc. (“ACT”) business within Engineered Cabs for cash proceeds of $700,000, resulting in a loss of $822,000. • In connection with other non-significant restructuring activities, the Company recognized a credit to severance expense of $93,000 and facility exit costs totaling $27,000. The Company also recognized a net loss on disposal of assets of $86,000. The total liability as of November 30, 2016 is expected to be paid in the next twelve months.

Contingent Liabilities and Comm

Contingent Liabilities and Commitments	6 Months Ended
	Nov. 30, 2016
Contingent Liabilities and Commitments	NOTE E – Contingent Liabilities and Commitments We are defendants in certain legal actions. In the opinion of management, the outcome of these actions, which is not clearly determinable at the present time, would not significantly affect our consolidated financial position or future results of operations or cash flows. We believe that environmental issues will not have a material effect on our capital expenditures, consolidated financial position or future results of operations or cash flows.

Guarantees

Guarantees	6 Months Ended
	Nov. 30, 2016
Guarantees	NOTE F – Guarantees We do not have guarantees that we believe are reasonably likely to have a material current or future effect on our consolidated financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources. However, as of November 30, 2016, we were party to an operating lease for an aircraft in which we have guaranteed a residual value at the termination of the lease. The maximum obligation under the terms of this guarantee was approximately $9,883,000 at November 30, 2016. Based on current facts and circumstances, we have estimated the likelihood of payment pursuant to this guarantee is not probable and, therefore, no amount has been recognized in our consolidated financial statements.

Debt and Receivables Securitiza

Debt and Receivables Securitization	6 Months Ended
	Nov. 30, 2016
Debt and Receivables Securitization	NOTE G – Debt and Receivables Securitization We maintain a $500,000,000 multi-year revolving credit facility (the “Credit Facility”) with a group of lenders that matures in April 2020. Borrowings under the Credit Facility typically have maturities of less than one year. However, we can extend the term of amounts borrowed by renewing these borrowings for the term of the Credit Facility. We have the option to borrow at rates equal to an applicable margin over the LIBOR, Prime rate or Fed Funds rate. The applicable margin is determined by our credit rating. There were no borrowings outstanding under the Credit Facility at November 30, 2016. We had letters of credit totaling $15,266,000 outstanding as of November 30, 2016. These letters of credit have been issued to third parties and had no amounts drawn against them at November 30, 2016. While not drawn against at November 30, 2016, $13,600,000 of these letters of credit were issued against availability under the Credit Facility, leaving $486,400,000 available at November 30, 2016. We also maintain a $100,000,000 revolving trade accounts receivable securitization facility (the “AR Facility”) which expires in January 2018. Pursuant to the terms of the AR Facility, certain of our subsidiaries sell their accounts receivable without recourse, on a revolving basis, to Worthington Receivables Corporation (“WRC”), a wholly-owned, consolidated, bankruptcy-remote subsidiary. In turn, WRC may sell without recourse, on a revolving basis, up to $100,000,000 of undivided ownership interests in this pool of accounts receivable to a third-party bank. We retain an undivided interest in this pool and are subject to risk of loss based on the collectability of the receivables from this retained interest. Because the amount eligible to be sold excludes receivables more than 90 days past due, receivables offset by an allowance for doubtful accounts due to bankruptcy or other cause, concentrations over certain limits with specific customers and certain reserve amounts, we believe additional risk of loss is minimal. As of November 30, 2016, no undivided ownership interests in this pool of accounts receivable had been sold.

Other Comprehensive Income

Other Comprehensive Income	6 Months Ended
	Nov. 30, 2016
Other Comprehensive Income	NOTE H – Other Comprehensive Income The following table summarizes the tax effects on each component of OCI for the three months ended November 30: 2016 2015 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ (7,517 ) $ - $ (7,517 ) $ (9,214 ) $ - $ (9,214 ) Pension liability adjustment - - - - - - Cash flow hedges 2,047 (395 ) 1,652 (3,805 ) 1,282 (2,523 ) Other comprehensive loss $ (5,470 ) $ (395 ) $ (5,865 ) $ (13,019 ) $ 1,282 $ (11,737 ) The following table summarizes the tax effects on each component of OCI for the six months ended November 30: 2016 2015 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ (8,182 ) $ - $ (8,182 ) $ (7,391 ) $ - $ (7,391 ) Pension liability adjustment - - - (8 ) - (8 ) Cash flow hedges 3,135 (858 ) 2,277 (2,567 ) 674 (1,893 ) Other comprehensive loss $ (5,047 ) $ (858 ) $ (5,905 ) $ (9,966 ) $ 674 $ (9,292 )

Changes in Equity

Changes in Equity	6 Months Ended
	Nov. 30, 2016
Changes in Equity	NOTE I – Changes in Equity The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interests for the six months ended November 30, 2016: Controlling Interest (in thousands) Additional Accumulated Retained Total Non- Total Balance at May 31, 2016 $ 298,984 $ (28,565 ) $ 522,952 $ 793,371 $ 126,475 $ 919,846 Net earnings - - 112,132 112,132 6,271 118,403 Other comprehensive loss - (5,762 ) - (5,762 ) (143 ) (5,905 ) Common shares issued, net of withholding tax 2,972 - - 2,972 - 2,972 Common shares in NQ plans 948 - - 948 - 948 Stock-based compensation 7,040 - - 7,040 - 7,040 Cash dividends declared - - (25,761 ) (25,761 ) - (25,761 ) Dividends to noncontrolling interest - - - - (6,781 ) (6,781 ) Balance at November 30, 2016 $ 309,944 $ (34,327 ) $ 609,323 $ 884,940 $ 125,822 $ 1,010,762 The components of the changes in accumulated other comprehensive loss were as follows: (in thousands) Foreign Pension Cash Accumulated Balance as of May 31, 2016 $ (18,728 ) $ (17,061 ) $ 7,224 $ (28,565 ) Other comprehensive income (loss) before reclassifications (8,039 ) - 8,050 11 Reclassification adjustments to income (a) - - (4,915 ) (4,915 ) Income taxes - - (858 ) (858 ) Balance as of November 30, 2016 $ (26,767 ) $ (17,061 ) $ 9,501 $ (34,327 ) (a) The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “NOTE N – Derivative Instruments and Hedging Activities.”

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Nov. 30, 2016
Stock-Based Compensation	NOTE J – Stock-Based Compensation Non-Qualified Stock Options During the six months ended November 30, 2016, we granted non-qualified stock options covering a total of 111,000 common shares under our stock-based compensation plans. The option price of $42.30 per share was equal to the market price of the underlying common shares at the grant date. The fair value of these stock options, based on the Black-Scholes option-pricing model, calculated at the grant date, was $11.60 per share. The calculated pre-tax stock-based compensation expense for these stock options, after an estimate for forfeitures, is $1,146,000 and will be recognized on a straight-line basis over the three-year vesting period. The following assumptions were used to value these stock options: Dividend yield 2.59 % Expected volatility 36.86 % Risk-free interest rate 1.15 % Expected term (years) 6.0 Expected volatility is based on the historical volatility of our common shares and the risk-free interest rate is based on the United States Treasury strip rate for the expected term of the stock options. The expected term was developed using historical exercise experience. Service-Based Restricted Common Shares During the six months ended November 30, 2016, we granted an aggregate of 513,300 service-based restricted common shares under our stock-based compensation plans. The fair value of these restricted common shares was equal to the weighted average closing market price of the underlying common shares on the date of grant, or $42.13 per share. The calculated pre-tax stock-based compensation expense for these restricted common shares, after an estimate for forfeitures, is $19,347,000 and will be recognized on a straight-line basis over the three-year service-based vesting period. Performance Share Awards We have awarded performance shares to certain key employees under our stock-based compensation plans. These performance shares are earned based on the level of achievement with respect to corporate targets for cumulative corporate economic value added, earnings per share growth and, in the case of business unit executives, business unit operating income targets for the three-year periods ending May 31, 2017, 2018 and 2019. These performance share awards will be paid, to the extent earned, in common shares of the Company in the fiscal quarter following the end of the applicable three-year performance period. The fair values of our performance shares are determined by the closing market prices of the underlying common shares at their respective grant dates and the pre-tax stock-based compensation expense is based on our periodic assessment of the probability of the targets being achieved and our estimate of the number of common shares that will ultimately be issued. During the six months ended November 30, 2016, we granted performance share awards covering an aggregate of 67,000 common shares (at target levels). The calculated pre-tax stock-based compensation expense for these performance shares is $3,009,000 and will be recognized over the three-year performance period.

Income Taxes

Income Taxes	6 Months Ended
	Nov. 30, 2016
Income Taxes	NOTE K – Income Taxes Income tax expense for the six months ended November 30, 2016 and November 30, 2015 reflected estimated annual effective income tax rates of 28.5% and 30.9%, respectively. The annual effective income tax rates exclude any impact from the inclusion of net earnings attributable to noncontrolling interests in our consolidated statements of earnings. Net earnings attributable to noncontrolling interests are primarily a result of our WSP, Spartan, Worthington Aritas, and TWB consolidated joint ventures. The earnings attributable to the noncontrolling interests in WSP, Spartan and TWB’s U.S. operations do not generate tax expense to Worthington since the investors in WSP, Spartan and TWB’s U.S. operations are taxed directly based on the earnings attributable to them. The tax expense of Worthington Aritas (a foreign corporation), and TWB’s wholly-owned foreign corporations, is reported in our consolidated tax expense. Management is required to estimate the annual effective income tax rate based upon its forecast of annual pre-tax income for domestic and foreign operations. Our actual effective income tax rate for fiscal 2017 could be materially different from the forecasted rate as of November 30, 2016.

Earnings per Share

Earnings per Share	6 Months Ended
	Nov. 30, 2016
Earnings per Share	NOTE L – Earnings per Share The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the three and six months ended November 30, 2016 and 2015: Three Months Ended Six Months Ended (in thousands, except per share amounts) 2016 2015 2016 2015 Numerator (basic & diluted): Net earnings attributable to controlling interest-income available to common shareholders $ 46,565 $ 23,376 $ 112,132 $ 55,344 Denominator: Denominator for basic earnings per share attributable to controlling interest—weighted average common shares 62,348 62,676 62,115 63,338 Effect of dilutive securities 2,377 1,987 2,484 2,012 Denominator for diluted earnings per share attributable to controlling interest—adjusted weighted average common shares 64,725 64,663 64,599 65,350 Basic earnings per share attributable to controlling interest $ 0.75 $ 0.37 $ 1.81 $ 0.87 Diluted earnings per share attributable to controlling interest $ 0.72 $ 0.36 $ 1.74 $ 0.85 Stock options and restricted common shares covering 110,354 and 367,094 common shares for the three months ended November 30, 2016 and 2015, respectively, and 92,923 and 346,557 common shares for the six months ended November 30, 2016 and 2015, respectively, have been excluded from the computation of diluted earnings per share because the effect of their inclusion would have been “anti-dilutive.”

Segment Operations

Segment Operations	6 Months Ended
	Nov. 30, 2016
Segment Operations	NOTE M – Segment Operations Summarized financial information for our reportable segments is shown in the following table: Three Months Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Net sales Steel Processing $ 508,806 $ 467,812 $ 1,014,480 $ 958,612 Pressure Cylinders 194,661 201,173 399,870 425,567 Engineered Cabs 22,463 28,699 48,044 67,316 Other 1,850 2,132 2,935 6,468 Total net sales $ 727,780 $ 699,816 $ 1,465,329 $ 1,457,963 Operating income (loss) Steel Processing $ 35,448 $ 26,642 $ 90,230 $ 50,280 Pressure Cylinders 11,304 (10,309 ) 25,409 6,510 Engineered Cabs (3,381 ) (4,290 ) (5,224 ) (13,581 ) Other (327 ) (71 ) (2,473 ) (241 ) Total operating income $ 43,044 $ 11,972 $ 107,942 $ 42,968 Impairment of long-lived assets Steel Processing $ - $ - $ - $ - Pressure Cylinders - 22,962 - 22,962 Engineered Cabs - - - 3,000 Other - - - - Total impairment of long-lived assets $ - $ 22,962 $ - $ 25,962 Restructuring and other expense (income) Steel Processing $ 318 $ 2,258 $ 1,284 $ 2,720 Pressure Cylinders 1,963 (16 ) 2,109 715 Engineered Cabs 1,004 765 1,210 2,643 Other (13 ) (1,484 ) (3 ) (1,486 ) Total restructuring and other expense $ 3,272 $ 1,523 $ 4,600 $ 4,592 (in thousands) November 30, May 31, Total assets Steel Processing $ 836,265 $ 819,853 Pressure Cylinders 763,716 787,786 Engineered Cabs 65,273 75,124 Other 477,470 378,501 Total assets $ 2,142,724 $ 2,061,264

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Nov. 30, 2016
Derivative Instruments and Hedging Activities	NOTE N – Derivative Instruments and Hedging Activities We utilize derivative instruments to manage exposure to certain risks related to our ongoing operations. The primary risks managed through the use of derivative instruments include interest rate risk, foreign currency exchange rate risk and commodity price risk. While certain of our derivative instruments are designated as hedging instruments, we also enter into derivative instruments that are designed to hedge a risk, but are not designated as hedging instruments and therefore do not qualify for hedge accounting. These derivative instruments are adjusted to current fair value through earnings at the end of each period. Interest Rate Risk Management Foreign Currency Rate Risk Management Commodity Price Risk Management We are exposed to counterparty credit risk on all of our derivative instruments. Accordingly, we have established and maintain strict counterparty credit guidelines. We have credit support agreements in place with certain counterparties to limit our credit exposure. These agreements require either party to post cash collateral if its cumulative market position exceeds a predefined liability threshold. At November 30, 2016, we had posted total cash collateral of $154,000 to our margin accounts. Amounts posted to the margin accounts accrue interest at market rates and are required to be refunded in the period in which the cumulative market position falls below the required threshold. We do not have significant exposure to any one counterparty, and management believes the risk of loss is remote and, in any event, would not be material. Refer to “NOTE O – Fair Value” for additional information regarding the accounting treatment for our derivative instruments, as well as how fair value is determined. The following table summarizes the fair value of our derivative instruments and the respective financial statement caption in which they were recorded in our consolidated balance sheet at November 30, 2016: Asset Derivatives Liability Derivatives (in thousands) Balance Fair Balance Sheet Location Fair Derivatives designated as hedging instruments: Commodity contracts Receivables $ 15,807 Accounts payable $ 489 Other assets 101 Other liabilities - 15,908 489 Interest rate contracts Receivables - Accounts payable 141 Other assets - Other liabilities 195 - 336 Totals $ 15,908 $ 825 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 4,149 Accounts payable $ 131 Other assets 41 Other liabilities - 4,190 131 Foreign currency contracts Receivables 514 Accounts payable - Totals $ 4,704 $ 131 Total derivative instruments $ 20,612 $ 956 The amounts in the table above reflect the fair value of the Company’s derivative instruments on a net basis. Had these amounts been recognized on a gross basis, the aggregate impact would have been a $100,000 increase in receivables with a corresponding increase in accounts payable. The following table summarizes the fair value of our derivative instruments and the financial statement caption in which they were recorded in the consolidated balance sheet at May 31, 2016: Asset Derivatives Liability Derivatives (in thousands) Balance Fair Balance Sheet Location Fair Derivatives designated as hedging instruments: Commodity contracts Receivables $ 13,224 Accounts payable $ 696 Other assets 3,589 Other liabilities 80 16,813 776 Interest rate contracts Receivables - Accounts payable 155 Other assets - Other liabilities 306 - 461 Totals $ 16,813 $ 1,237 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 4,660 Accounts payable $ 761 Other assets 317 Other liabilities - 4,977 761 Foreign currency contracts Receivables - Accounts payable 15 - 15 Totals $ 4,977 $ 776 Total derivative instruments $ 21,790 $ 2,013 The amounts in the table above reflect the fair value of the Company’s derivative instruments on a net basis. Had these amounts been recognized on a gross basis, the aggregate impact would have been a $300,000 decrease in receivables with a corresponding decrease in accounts payable. Cash Flow Hedges We enter into derivative instruments to hedge our exposure to changes in cash flows attributable to interest rates and commodity price fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on the derivative instrument is reported as a component of OCI and reclassified into earnings in the same financial statement caption associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument is recognized in earnings immediately. The following table summarizes our cash flow hedges outstanding at November 30, 2016: (in thousands) Notional Maturity Date Commodity contracts $ 49,224 December 2016 - December 2018 Interest rate contracts 16,201 September 2019 The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the three months ended November 30, 2016 and 2015: Location of Location of Gain (Loss) Gain (Loss) Gain Gain Reclassified Reclassified (Ineffective (Ineffective Gain (Loss) from from Portion) Portion) Recognized Accumulated Accumulated and Excluded and Excluded in OCI OCI OCI from from (Effective (Effective (Effective Effectiveness Effectiveness (in thousands) Portion) Portion) Portion) Testing Testing For the three months ended November 30, 2016: Commodity contracts $ 7,157 Cost of goods sold $ 5,737 Cost of goods sold $ - Interest rate contracts 160 Interest expense (467 ) Interest expense - Totals $ 7,317 $ 5,270 $ - For the three months ended November 30, 2015: Commodity contracts $ (10,210 ) Cost of goods sold $ (6,460 ) Cost of goods sold $ - Interest rate contracts (201 ) Interest expense (146 ) Interest expense - Totals (10,411 ) (6,606 ) - The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the six months ended November 30, 2016 and 2015: Location of Location of Gain (Loss) Gain (Loss) Gain Gain Reclassified Reclassified (Ineffective (Ineffective Gain (Loss) from from Portion) Portion) Recognized Accumulated Accumulated and Excluded and Excluded in OCI OCI OCI from from (Effective (Effective (Effective Effectiveness Effectiveness (in thousands) Portion) Portion) Portion) Testing Testing For the six months ended November 30, 2016: Interest rate contracts $ 7,926 Interest expense $ 5,485 Interest expense $ - Commodity contracts 124 Cost of goods sold (570 ) Cost of goods sold - Totals $ 8,050 $ 4,915 $ - For the six months ended November 30, 2015: Interest rate contracts $ (167 ) Interest expense $ (285 ) Interest expense $ - Commodity contracts (18,336 ) Cost of goods sold (15,647 ) Cost of goods sold - Foreign currency contracts - Miscellaneous income, net (4 ) Miscellaneous income, net - Totals $ (18,503 ) $ (15,936 ) $ - The estimated net amount of the losses recognized in accumulated OCI at November 30, 2016 expected to be reclassified into net earnings within the succeeding twelve months is $11,131,000 (net of tax of $6,147,000). This amount was computed using the fair value of the cash flow hedges at November 30, 2016, and will change before actual reclassification from OCI to net earnings during the fiscal years ending May 31, 2017 and 2018. Economic (Non-designated) Hedges We enter into foreign currency contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through earnings. The following table summarizes our economic (non-designated) derivative instruments outstanding at November 30, 2016: (in thousands) Notional Maturity Date(s) Commodity contracts $ 22,389 December 2016 - August 2018 Foreign currency contracts 14,149 December 2016 - August 2017 The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the three months ended November 30, 2016 and 2015: Gain (Loss) Recognized in Earnings for the Location of Gain (Loss) Three Months Ended (in thousands) Recognized in Earnings 2016 2015 Commodity contracts Cost of goods sold $ 2,003 $ (5,390 ) Foreign currency contracts Miscellaneous income, net (599 ) 70 Total $ 1,404 $ (5,320 ) The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the six months ended November 30, 2016 and 2015: Gain (Loss) Recognized in Earnings for the Location of Gain (Loss) Six Months Ended (in thousands) Recognized in Earnings 2016 2015 Commodity contracts Cost of goods sold $ 4,911 $ (8,145 ) Foreign currency contracts Miscellaneous income, net (665 ) 70 Total $ 4,246 $ (8,075 ) The gain (loss) on the foreign currency derivatives significantly offsets the gain (loss) on the hedged item.

Fair Value

Fair Value	6 Months Ended
	Nov. 30, 2016
Fair Value	NOTE O – Fair Value Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is an exit price concept that assumes an orderly transaction between willing market participants and is required to be based on assumptions that market participants would use in pricing an asset or a liability. Current accounting guidance establishes a three-tier fair value hierarchy as a basis for considering such assumptions and for classifying the inputs used in the valuation methodologies. This hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair values are as follows: Level 1 – Observable prices in active markets for identical assets and liabilities. Level 2 – Inputs other than quoted prices included within Level 1 that are observable for the assets and liabilities, either directly or indirectly. Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. Recurring Fair Value Measurements At November 30, 2016, our assets and liabilities measured at fair value on a recurring basis were as follows: (in thousands) Quoted Prices Significant Significant (Level 3) Totals Assets Derivative instruments (1) $ - $ 20,612 $ - $ 20,612 Total assets $ - $ 20,612 $ - $ 20,612 Liabilities Derivative instruments (1) $ - $ 956 $ - $ 956 Contingent consideration obligation (2) - - 4,549 4,549 Total liabilities $ - $ 956 $ 4,549 $ 5,505 At May 31, 2016, our assets and liabilities measured at fair value on a recurring basis were as follows: (in thousands) Quoted Prices Significant Significant (Level 3) Totals Assets Derivative instruments (1) $ - $ 21,790 $ - $ 21,790 Total assets $ - $ 21,790 $ - $ 21,790 Liabilities Derivative instruments (1) $ - $ 2,013 $ - $ 2,013 Contingent consideration obligations (2) - - 4,519 4,519 Total liabilities $ - $ 2,013 $ 4,519 $ 6,532 (1) The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “NOTE N – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative instruments. (2) The fair value of the contingent consideration obligations is determined using a probability weighted cash flow approach based on management’s projections of future cash flows of the acquired businesses. The fair value measurement was based on Level 3 inputs not observable in the market. The fair value of non-derivative financial instruments included in the carrying amounts of cash and cash equivalents, receivables, notes receivable, income taxes receivable, other assets, accounts payable, short-term borrowings, accrued compensation, contributions to employee benefit plans and related taxes, other accrued items, income taxes payable and other liabilities approximate carrying value due to their short-term nature. The fair value of long-term debt, including current maturities, based upon models utilizing market observable (Level 2) inputs and credit risk, was $593,821,000 and $609,245,000 at November 30, 2016 and May 31, 2016, respectively. The carrying amount of long-term debt, including current maturities, was $576,911,000 and $578,353,000 at November 30, 2016 and May 31, 2016, respectively.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Nov. 30, 2016
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In February 2015, amended accounting guidance was issued that revised consolidation requirements in order to provide financial statement users with a more useful presentation of an entity’s economic and operational results. The amended guidance revises the consolidation requirements for limited partnerships, the considerations surrounding the primary beneficiary determination and the consolidation of certain investment funds. The Company adopted this amended guidance on a prospective basis effective June 1, 2016. The adoption of this guidance did not impact our consolidated financial position or results of operations. In April 2015, amended accounting guidance was issued that requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct deduction from the carrying amount of the corresponding debt liability itself. The amended guidance does not apply to line-of-credit arrangements. Accordingly, issuance costs related to line-of-credit arrangements will continue to be presented as an asset and amortized ratably over the term of the arrangement. The Company adopted this guidance on a retrospective basis effective June 1, 2016. As a result, debt issuance costs totaling $2,319,000 and $2,491,000 as of November 30, 2016 and May 31, 2016, respectively, have been presented as a component of the carrying amount of long-term debt reported in our consolidated balance sheets. These amounts were previously capitalized and reported within other assets. In September 2015, amended accounting guidance was issued regarding adjustments to provisional amounts recorded in conjunction with a business combination. The amended guidance requires the acquirer to recognize adjustments to provisional amounts identified during the measurement period in the reporting period in which such adjustments are identified, rather than retrospectively adjusting previously reported amounts. The Company adopted this amended guidance on a prospective basis effective June 1, 2016. The adoption of this guidance did not impact our consolidated financial position or results of operations. In March 2016, amended accounting guidance was issued that simplifies the accounting for share-based payments. The amended guidance impacts several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, statutory withholding requirements, and classification in the statement of cash flows. The Company early adopted this guidance during the fourth quarter of fiscal 2016. As required for early adoption in an interim period, all adjustments have been reflected as of the beginning of fiscal 2016. Accordingly, income tax expense for the three and six months ended November 30, 2015 has been restated to reflect excess tax benefits associated with share-based payments totaling $136,000 and $694,000, respectively, in current income tax expense, rather than in paid-in capital.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, amended accounting guidance was issued that replaces most existing revenue recognition guidance under U.S. GAAP. The amended guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. Subsequently, additional guidance was issued on several areas including guidance intended to improve the operability and understandability of the implementation of principal versus agent considerations and clarifications on the identification of performance obligations and implementation of guidance related to licensing. The amended guidance is effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The amended guidance permits the use of either the retrospective or cumulative effect transition method. We are in the process of evaluating the effect this guidance will have on the presentation of our consolidated financial statements and related disclosures. Our evaluation is ongoing and not complete. However, we currently do not anticipate a material impact on our revenue recognition practices. We expect to make a determination as to the timing and method of adoption in the second half of fiscal 2017. In July 2015, amended accounting guidance was issued regarding the measurement of inventory. The amended guidance requires that inventory accounted for under the first-in, first-out (FIFO) or average cost methods be measured at the lower of cost and net realizable value, where net realizable value represents the estimated selling price of inventory in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. The amended guidance has no impact on inventory accounted for under the last-in, first-out (LIFO) or retail inventory methods. The amended guidance is effective prospectively for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted as of the beginning of an interim or annual reporting period. We do not expect the adoption of this amended accounting guidance to have a material impact on our consolidated financial position or results of operations. In February 2016, amended accounting guidance was issued that replaces most existing lease accounting guidance under U.S. GAAP. Among other changes, the amended guidance requires that lease assets and liabilities be recognized on the balance sheet by lessees for those leases classified as operating leases under previous guidance. The amended guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption is permitted, and the change is to be applied using a modified retrospective approach as of the beginning of the earliest period presented. We are in the process of evaluating the effect this guidance will have on our consolidated financial position, results of operations and cash flows, and we have not determined the effect of the amended guidance on our ongoing financial reporting. In March 2016, amended accounting guidance was issued regarding derivative instruments designated as hedging instruments. The amended guidance clarifies that a change in the counterparty to such a hedging instrument does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The amended guidance is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted, and the change may be applied either prospectively or retrospectively. We do not expect the adoption of this amended accounting guidance to have a material impact on our consolidated financial position or results of operations. In June 2016, amended accounting guidance was issued related to the measurement of credit losses on financial instruments. The amended guidance changes the impairment model for most financial assets to require measurement and recognition of expected credit losses for financial assets held. The amended guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. We are in the process of evaluating the effect this guidance will have on our consolidated financial position and results of operations, and we have not determined the effect of the amended guidance on our ongoing financial reporting. In August 2016, amended accounting guidance was issued to clarify the proper cash flow presentation of certain specific types of cash payments and cash receipts. The amended guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. We are in the process of evaluating the effect this guidance will have on our consolidated financial position, results of operations and cash flows, and we have not determined the effect of the amended guidance on our ongoing financial reporting. In October 2016, amended accounting guidance was issued that requires the income tax consequences of an intra-entity transfer of an asset other than inventory to be recognized when the transfer occurs. The amended guidance is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. We are in the process of evaluating the effect this guidance will have on our consolidated financial position, results of operations and cash flows, and have not determined the effect of the amended guidance on our ongoing financial reporting.
Economic (Non-designated) Hedges	Economic (Non-designated) Hedges We enter into foreign currency contracts to manage our foreign currency exchange rate exposure related to inter-company and financing transactions that do not meet the requirements for hedge accounting treatment. We also enter into certain commodity contracts that do not qualify for hedge accounting treatment. Accordingly, these derivative instruments are adjusted to current market value at the end of each period through earnings.
Cash Flow Hedges
Cash Flow Hedges	Cash Flow Hedges We enter into derivative instruments to hedge our exposure to changes in cash flows attributable to interest rates and commodity price fluctuations associated with certain forecasted transactions. These derivative instruments are designated and qualify as cash flow hedges. Accordingly, the effective portion of the gain or loss on the derivative instrument is reported as a component of OCI and reclassified into earnings in the same financial statement caption associated with the forecasted transaction and in the same period during which the hedged transaction affects earnings. The ineffective portion of the gain or loss on the derivative instrument is recognized in earnings immediately.

Investments in Unconsolidated23

Investments in Unconsolidated Affiliates (Tables)	6 Months Ended
	Nov. 30, 2016
Unconsolidated Affiliates
Financial Information	Combined financial information for our unconsolidated affiliates is summarized as follows: (in thousands) November 30, May 31, Cash $ 59,751 $ 112,122 Other current assets 523,625 446,796 Noncurrent assets 352,117 352,370 Total assets $ 935,493 $ 911,288 Current liabilities $ 141,808 $ 112,491 Short-term borrowings 9,210 11,398 Current maturities of long-term debt 2,807 3,297 Long-term debt 263,646 266,942 Other noncurrent liabilities 19,834 21,034 Equity 498,188 496,126 Total liabilities and equity $ 935,493 $ 911,288 Three Months Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Net sales $ 387,192 $ 389,185 $ 804,307 $ 793,648 Gross margin 96,541 84,767 220,738 173,785 Operating income 67,365 55,810 161,762 117,057 Depreciation and amortization 6,973 8,068 13,793 16,165 Interest expense 2,151 2,136 4,299 4,295 Income tax expense 3,545 2,164 11,063 4,723 Net earnings 63,444 71,144 149,511 134,070

Restructuring and Other Expen24

Restructuring and Other Expense (Tables)	6 Months Ended
	Nov. 30, 2016
Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense	A progression of the liabilities associated with our restructuring activities, combined with a reconciliation to the restructuring and other expense financial statement caption in our consolidated statement of earnings for the six months ended November 30, 2016 is summarized as follows: (in thousands) Beginning Expense Payments Adjustments Ending Early retirement and severance $ 1,831 $ 1,572 $ (2,707 ) $ 39 $ 735 Facility exit and other costs 653 2,019 (1,295 ) - 1,377 $ 2,484 3,591 $ (4,002 ) $ 39 $ 2,112 Net loss on sale of assets 1,009 Restructuring and other expense $ 4,600

Other Comprehensive Income (Tab

Other Comprehensive Income (Tables)	6 Months Ended
	Nov. 30, 2016
Summary of Tax Effects on Each Component of OCI	The following table summarizes the tax effects on each component of OCI for the three months ended November 30: 2016 2015 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ (7,517 ) $ - $ (7,517 ) $ (9,214 ) $ - $ (9,214 ) Pension liability adjustment - - - - - - Cash flow hedges 2,047 (395 ) 1,652 (3,805 ) 1,282 (2,523 ) Other comprehensive loss $ (5,470 ) $ (395 ) $ (5,865 ) $ (13,019 ) $ 1,282 $ (11,737 ) The following table summarizes the tax effects on each component of OCI for the six months ended November 30: 2016 2015 Before-Tax Tax Net-of-Tax Before-Tax Tax Net-of-Tax (in thousands) Foreign currency translation $ (8,182 ) $ - $ (8,182 ) $ (7,391 ) $ - $ (7,391 ) Pension liability adjustment - - - (8 ) - (8 ) Cash flow hedges 3,135 (858 ) 2,277 (2,567 ) 674 (1,893 ) Other comprehensive loss $ (5,047 ) $ (858 ) $ (5,905 ) $ (9,966 ) $ 674 $ (9,292 )

Changes in Equity (Tables)

Changes in Equity (Tables)	6 Months Ended
	Nov. 30, 2016
Summary of Changes in Total Equity, Shareholders' Equity Attributable to Controlling Interest, and Equity Attributable to Noncontrolling Interests	The following table provides a summary of the changes in total equity, shareholders’ equity attributable to controlling interest, and equity attributable to noncontrolling interests for the six months ended November 30, 2016: Controlling Interest (in thousands) Additional Accumulated Retained Total Non- Total Balance at May 31, 2016 $ 298,984 $ (28,565 ) $ 522,952 $ 793,371 $ 126,475 $ 919,846 Net earnings - - 112,132 112,132 6,271 118,403 Other comprehensive loss - (5,762 ) - (5,762 ) (143 ) (5,905 ) Common shares issued, net of withholding tax 2,972 - - 2,972 - 2,972 Common shares in NQ plans 948 - - 948 - 948 Stock-based compensation 7,040 - - 7,040 - 7,040 Cash dividends declared - - (25,761 ) (25,761 ) - (25,761 ) Dividends to noncontrolling interest - - - - (6,781 ) (6,781 ) Balance at November 30, 2016 $ 309,944 $ (34,327 ) $ 609,323 $ 884,940 $ 125,822 $ 1,010,762
Components of Changes in Accumulated Other Comprehensive Loss	The components of the changes in accumulated other comprehensive loss were as follows: (in thousands) Foreign Pension Cash Accumulated Balance as of May 31, 2016 $ (18,728 ) $ (17,061 ) $ 7,224 $ (28,565 ) Other comprehensive income (loss) before reclassifications (8,039 ) - 8,050 11 Reclassification adjustments to income (a) - - (4,915 ) (4,915 ) Income taxes - - (858 ) (858 ) Balance as of November 30, 2016 $ (26,767 ) $ (17,061 ) $ 9,501 $ (34,327 ) (a) The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in “NOTE N – Derivative Instruments and Hedging Activities.”

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Nov. 30, 2016
Non-Qualified Stock Options
Assumptions to Value Stock Options	The following assumptions were used to value these stock options: Dividend yield 2.59 % Expected volatility 36.86 % Risk-free interest rate 1.15 % Expected term (years) 6.0

Earnings per Share (Tables)

Earnings per Share (Tables)	6 Months Ended
	Nov. 30, 2016
Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest	The following table sets forth the computation of basic and diluted earnings per share attributable to controlling interest for the three and six months ended November 30, 2016 and 2015: Three Months Ended Six Months Ended (in thousands, except per share amounts) 2016 2015 2016 2015 Numerator (basic & diluted): Net earnings attributable to controlling interest-income available to common shareholders $ 46,565 $ 23,376 $ 112,132 $ 55,344 Denominator: Denominator for basic earnings per share attributable to controlling interest—weighted average common shares 62,348 62,676 62,115 63,338 Effect of dilutive securities 2,377 1,987 2,484 2,012 Denominator for diluted earnings per share attributable to controlling interest—adjusted weighted average common shares 64,725 64,663 64,599 65,350 Basic earnings per share attributable to controlling interest $ 0.75 $ 0.37 $ 1.81 $ 0.87 Diluted earnings per share attributable to controlling interest $ 0.72 $ 0.36 $ 1.74 $ 0.85

Segment Operations (Tables)

Segment Operations (Tables)	6 Months Ended
	Nov. 30, 2016
Financial Information for Reportable Segments	Summarized financial information for our reportable segments is shown in the following table: Three Months Ended Six Months Ended (in thousands) 2016 2015 2016 2015 Net sales Steel Processing $ 508,806 $ 467,812 $ 1,014,480 $ 958,612 Pressure Cylinders 194,661 201,173 399,870 425,567 Engineered Cabs 22,463 28,699 48,044 67,316 Other 1,850 2,132 2,935 6,468 Total net sales $ 727,780 $ 699,816 $ 1,465,329 $ 1,457,963 Operating income (loss) Steel Processing $ 35,448 $ 26,642 $ 90,230 $ 50,280 Pressure Cylinders 11,304 (10,309 ) 25,409 6,510 Engineered Cabs (3,381 ) (4,290 ) (5,224 ) (13,581 ) Other (327 ) (71 ) (2,473 ) (241 ) Total operating income $ 43,044 $ 11,972 $ 107,942 $ 42,968 Impairment of long-lived assets Steel Processing $ - $ - $ - $ - Pressure Cylinders - 22,962 - 22,962 Engineered Cabs - - - 3,000 Other - - - - Total impairment of long-lived assets $ - $ 22,962 $ - $ 25,962 Restructuring and other expense (income) Steel Processing $ 318 $ 2,258 $ 1,284 $ 2,720 Pressure Cylinders 1,963 (16 ) 2,109 715 Engineered Cabs 1,004 765 1,210 2,643 Other (13 ) (1,484 ) (3 ) (1,486 ) Total restructuring and other expense $ 3,272 $ 1,523 $ 4,600 $ 4,592 (in thousands) November 30, May 31, Total assets Steel Processing $ 836,265 $ 819,853 Pressure Cylinders 763,716 787,786 Engineered Cabs 65,273 75,124 Other 477,470 378,501 Total assets $ 2,142,724 $ 2,061,264

Derivative Instruments and He30

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Nov. 30, 2016
Schedule of Fair Value of Derivative Instruments	The following table summarizes the fair value of our derivative instruments and the respective financial statement caption in which they were recorded in our consolidated balance sheet at November 30, 2016: Asset Derivatives Liability Derivatives (in thousands) Balance Fair Balance Sheet Location Fair Derivatives designated as hedging instruments: Commodity contracts Receivables $ 15,807 Accounts payable $ 489 Other assets 101 Other liabilities - 15,908 489 Interest rate contracts Receivables - Accounts payable 141 Other assets - Other liabilities 195 - 336 Totals $ 15,908 $ 825 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 4,149 Accounts payable $ 131 Other assets 41 Other liabilities - 4,190 131 Foreign currency contracts Receivables 514 Accounts payable - Totals $ 4,704 $ 131 Total derivative instruments $ 20,612 $ 956 The following table summarizes the fair value of our derivative instruments and the financial statement caption in which they were recorded in the consolidated balance sheet at May 31, 2016: Asset Derivatives Liability Derivatives (in thousands) Balance Fair Balance Sheet Location Fair Derivatives designated as hedging instruments: Commodity contracts Receivables $ 13,224 Accounts payable $ 696 Other assets 3,589 Other liabilities 80 16,813 776 Interest rate contracts Receivables - Accounts payable 155 Other assets - Other liabilities 306 - 461 Totals $ 16,813 $ 1,237 Derivatives not designated as hedging instruments: Commodity contracts Receivables $ 4,660 Accounts payable $ 761 Other assets 317 Other liabilities - 4,977 761 Foreign currency contracts Receivables - Accounts payable 15 - 15 Totals $ 4,977 $ 776 Total derivative instruments $ 21,790 $ 2,013
Schedule of Derivatives Designated as Cash Flow Hedging Instruments	The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the three months ended November 30, 2016 and 2015: Location of Location of Gain (Loss) Gain (Loss) Gain Gain Reclassified Reclassified (Ineffective (Ineffective Gain (Loss) from from Portion) Portion) Recognized Accumulated Accumulated and Excluded and Excluded in OCI OCI OCI from from (Effective (Effective (Effective Effectiveness Effectiveness (in thousands) Portion) Portion) Portion) Testing Testing For the three months ended November 30, 2016: Commodity contracts $ 7,157 Cost of goods sold $ 5,737 Cost of goods sold $ - Interest rate contracts 160 Interest expense (467 ) Interest expense - Totals $ 7,317 $ 5,270 $ - For the three months ended November 30, 2015: Commodity contracts $ (10,210 ) Cost of goods sold $ (6,460 ) Cost of goods sold $ - Interest rate contracts (201 ) Interest expense (146 ) Interest expense - Totals (10,411 ) (6,606 ) - The following table summarizes the gain (loss) recognized in OCI and the gain (loss) reclassified from accumulated OCI into earnings for derivative instruments designated as cash flow hedges during the six months ended November 30, 2016 and 2015: Location of Location of Gain (Loss) Gain (Loss) Gain Gain Reclassified Reclassified (Ineffective (Ineffective Gain (Loss) from from Portion) Portion) Recognized Accumulated Accumulated and Excluded and Excluded in OCI OCI OCI from from (Effective (Effective (Effective Effectiveness Effectiveness (in thousands) Portion) Portion) Portion) Testing Testing For the six months ended November 30, 2016: Interest rate contracts $ 7,926 Interest expense $ 5,485 Interest expense $ - Commodity contracts 124 Cost of goods sold (570 ) Cost of goods sold - Totals $ 8,050 $ 4,915 $ - For the six months ended November 30, 2015: Interest rate contracts $ (167 ) Interest expense $ (285 ) Interest expense $ - Commodity contracts (18,336 ) Cost of goods sold (15,647 ) Cost of goods sold - Foreign currency contracts - Miscellaneous income, net (4 ) Miscellaneous income, net - Totals $ (18,503 ) $ (15,936 ) $ -
Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments	The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the three months ended November 30, 2016 and 2015: Gain (Loss) Recognized in Earnings for the Location of Gain (Loss) Three Months Ended (in thousands) Recognized in Earnings 2016 2015 Commodity contracts Cost of goods sold $ 2,003 $ (5,390 ) Foreign currency contracts Miscellaneous income, net (599 ) 70 Total $ 1,404 $ (5,320 ) The following table summarizes the gain (loss) recognized in earnings for economic (non-designated) derivative financial instruments during the six months ended November 30, 2016 and 2015: Gain (Loss) Recognized in Earnings for the Location of Gain (Loss) Six Months Ended (in thousands) Recognized in Earnings 2016 2015 Commodity contracts Cost of goods sold $ 4,911 $ (8,145 ) Foreign currency contracts Miscellaneous income, net (665 ) 70 Total $ 4,246 $ (8,075 )
Cash Flow Hedges
Schedule of Summary of Derivative Hedges	The following table summarizes our cash flow hedges outstanding at November 30, 2016: (in thousands) Notional Maturity Date Commodity contracts $ 49,224 December 2016 - December 2018 Interest rate contracts 16,201 September 2019
Derivatives Not Designated As Hedging Instruments
Schedule of Summary of Derivative Hedges	The following table summarizes our economic (non-designated) derivative instruments outstanding at November 30, 2016: (in thousands) Notional Maturity Date(s) Commodity contracts $ 22,389 December 2016 - August 2018 Foreign currency contracts 14,149 December 2016 - August 2017

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Nov. 30, 2016
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	At November 30, 2016, our assets and liabilities measured at fair value on a recurring basis were as follows: (in thousands) Quoted Prices Significant Significant (Level 3) Totals Assets Derivative instruments (1) $ - $ 20,612 $ - $ 20,612 Total assets $ - $ 20,612 $ - $ 20,612 Liabilities Derivative instruments (1) $ - $ 956 $ - $ 956 Contingent consideration obligation (2) - - 4,549 4,549 Total liabilities $ - $ 956 $ 4,549 $ 5,505 At May 31, 2016, our assets and liabilities measured at fair value on a recurring basis were as follows: (in thousands) Quoted Prices Significant Significant (Level 3) Totals Assets Derivative instruments (1) $ - $ 21,790 $ - $ 21,790 Total assets $ - $ 21,790 $ - $ 21,790 Liabilities Derivative instruments (1) $ - $ 2,013 $ - $ 2,013 Contingent consideration obligations (2) - - 4,519 4,519 Total liabilities $ - $ 2,013 $ 4,519 $ 6,532 (1) The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to “NOTE N – Derivative Instruments and Hedging Activities” for additional information regarding our use of derivative instruments. (2) The fair value of the contingent consideration obligations is determined using a probability weighted cash flow approach based on management’s projections of future cash flows of the acquired businesses. The fair value measurement was based on Level 3 inputs not observable in the market.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	3 Months Ended	6 Months Ended
	Nov. 30, 2015USD ($)	Nov. 30, 2016USD ($)Entity	Nov. 30, 2015USD ($)	May 31, 2016USD ($)
Accounting Standards Update 2015-03
Significant Accounting Policies [Line Items]
Debt issuance cost		$ 2,319,000		$ 2,491,000
Accounting Standards Update 2016-09
Significant Accounting Policies [Line Items]
Excess tax benefits associated with share-based payments	$ 136,000		$ 694,000
Amended accounting guidance, description		In March 2016, amended accounting guidance was issued that simplifies the accounting for share-based payments. The amended guidance impacts several aspects of the accounting for share-based payment transactions, including the income tax consequences, forfeitures, statutory withholding requirements, and classification in the statement of cash flows. The Company early adopted this guidance during the fourth quarter of fiscal 2016. As required for early adoption in an interim period, all adjustments have been reflected as of the beginning of fiscal 2016. Accordingly, income tax expense for the three and six months ended November 30, 2015 has been restated to reflect excess tax benefits associated with share-based payments totaling $136,000 and $694,000, respectively, in current income tax expense, rather than in paid-in capital.
Joint Venture Transactions
Significant Accounting Policies [Line Items]
Number of joint ventures | Entity		6
DHybrid Systems LLC | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		79.59%
Spartan | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		52.00%
TWB | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		55.00%
Worthington Aritas | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		75.00%
WEI | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		75.00%
Worthington Specialty Processing | Joint Venture Transactions
Significant Accounting Policies [Line Items]
Percent of controlling interest by the Company		51.00%

Investments in Unconsolidated33

Investments in Unconsolidated Affiliates - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2016USD ($)
WAVE
Investments in and Advances to Affiliates [Line Items]
Cumulative distributions in excess of investment	$ 67,516,000
Unconsolidated Affiliates
Investments in and Advances to Affiliates [Line Items]
Distributions from unconsolidated affiliates	$ 62,742,000
Joint Venture Transactions | ArtiFlex
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	50.00%
Joint Venture Transactions | ClarkDietrich
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	25.00%
Joint Venture Transactions | Samuel Steel Pickling Company
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	31.25%
Joint Venture Transactions | Seviacero
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	50.00%
Joint Venture Transactions | WAVE
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	50.00%
Joint Venture Transactions | Zhejiang Nisshin Worthington Precision Specialty Steel Co
Investments in and Advances to Affiliates [Line Items]
Percent of interest by unconsolidated affiliates	10.00%

Schedule of Combined Financial

Schedule of Combined Financial Information for Unconsolidated Affiliates (Detail) - Unconsolidated Affiliates - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015	May 31, 2016
Investments in and Advances to Affiliates [Line Items]
Cash	$ 59,751		$ 59,751		$ 112,122
Other current assets	523,625		523,625		446,796
Noncurrent assets	352,117		352,117		352,370
Total assets	935,493		935,493		911,288
Current liabilities	141,808		141,808		112,491
Short-term borrowings	9,210		9,210		11,398
Current maturities of long-term debt	2,807		2,807		3,297
Long-term debt	263,646		263,646		266,942
Other noncurrent liabilities	19,834		19,834		21,034
Equity	498,188		498,188		496,126
Total liabilities and equity	935,493		935,493		$ 911,288
Net sales	387,192	$ 389,185	804,307	$ 793,648
Gross margin	96,541	84,767	220,738	173,785
Operating income	67,365	55,810	161,762	117,057
Depreciation and amortization	6,973	8,068	13,793	16,165
Interest expense	2,151	2,136	4,299	4,295
Income tax expense	3,545	2,164	11,063	4,723
Net earnings	$ 63,444	$ 71,144	$ 149,511	$ 134,070

Impairment of Long-Lived Asse35

Impairment of Long-Lived Assets - Additional Information (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Nov. 30, 2015USD ($)	Nov. 30, 2016USD ($)	Nov. 30, 2015USD ($)Facility
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 22,962	$ 0	$ 25,962
Engineered Cabs
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets			3,000
Pressure Cylinders
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets	$ 22,962		22,962
Pressure Cylinders | Oil and Gas Equipment Reporting Unit
Impaired Long-Lived Assets Held and Used [Line Items]
Impairment of long-lived assets			$ 22,962
Number of equipment facilities | Facility			2

Schedule of Progression of Liab

Schedule of Progression of Liabilities Associated with Restructuring Activities, Combined with Reconciliation to Restructuring and Other Expense (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Restructuring Cost and Reserve [Line Items]
Beginning Balance			$ 2,484
Expense			3,591
Payments			(4,002)
Adjustments			39
Ending Balance	$ 2,112		2,112
Net (gain) loss on sale of assets			1,009
Restructuring and other expense	3,272	$ 1,523	4,600	$ 4,592
Early Retirement And Severance
Restructuring Cost and Reserve [Line Items]
Beginning Balance			1,831
Expense			1,572
Payments			(2,707)
Adjustments			39
Ending Balance	735		735
Facility Exit And Other Costs
Restructuring Cost and Reserve [Line Items]
Beginning Balance			653
Expense			2,019
Payments			(1,295)
Ending Balance	$ 1,377		$ 1,377

Restructuring and Other Expen37

Restructuring and Other Expense - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Restructuring Cost and Reserve [Line Items]
Net gain (loss) on sale of assets	$ 2,912,000	$ 5,854,000	$ (1,484,000)	$ 4,248,000
Cryogenics Facility in Istanbul, Turkey, to its Greenfield Facility in Bandirma, Turkey
Restructuring Cost and Reserve [Line Items]
Severance expense			309,000
Facility exit costs			421,000
Closure of Precision Specialty Metals, Inc
Restructuring Cost and Reserve [Line Items]
Facility exit costs			1,264,000
Other Non-significant Restructuring Activities
Restructuring Cost and Reserve [Line Items]
Severance expense			93,000
Facility exit costs			27,000
Net gain (loss) on sale of assets			(86,000)
Pressure Cylinders
Restructuring Cost and Reserve [Line Items]
Severance expense			1,356,000
Engineered Cabs | Facility Closing | Florence, South Carolina
Restructuring Cost and Reserve [Line Items]
Facility exit costs			307,000
Net gain (loss) on sale of assets			(101,000)
Engineered Cabs | Advanced Component Technologies, Inc
Restructuring Cost and Reserve [Line Items]
Cash proceeds from sale of business			700,000
Gain (loss) on sale of business			$ (822,000)

Guarantees - Additional Informa

Guarantees - Additional Information (Detail)	Nov. 30, 2016USD ($)
Operating Lease of Aircraft
Loss Contingencies [Line Items]
Maximum potential obligation	$ 9,883,000

Debt and Receivables Securiti39

Debt and Receivables Securitization - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2016USD ($)
Debt And Receivables Securitization [Line Items]
Letter of credit amount outstanding	$ 15,266,000
Remaining borrowing capacity	486,400,000
Securities Sold under Agreements to Repurchase
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	$ 100,000,000
Maturity date	2018-01
Borrowings outstanding	$ 0
Number of days past due trade accounts receivables are ineligible for securitization	90 days
Unsecured Revolving Credit Facility
Debt And Receivables Securitization [Line Items]
Maximum borrowing capacity	$ 500,000,000
Maturity date	2020-04
Borrowings outstanding	$ 0
Unsecured Revolving Credit Facility | Maximum
Debt And Receivables Securitization [Line Items]
Debt maturity period	1 year
Letter of Credit [Member]
Debt And Receivables Securitization [Line Items]
Letter of credit amount outstanding	$ 13,600,000

Summary of Tax Effects on Each

Summary of Tax Effects on Each Component of OCI (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Components Of Other Comprehensive Income Loss [Line Items]
Other comprehensive loss, before tax	$ (5,470)	$ (13,019)	$ (5,047)	$ (9,966)
Other comprehensive loss, tax	(395)	1,282	(858)	674
Other comprehensive loss	(5,865)	(11,737)	(5,905)	(9,292)
Foreign Currency Translation
Components Of Other Comprehensive Income Loss [Line Items]
Other comprehensive loss, before tax	(7,517)	(9,214)	(8,182)	(7,391)
Other comprehensive loss	(7,517)	(9,214)	(8,182)	(7,391)
Pension Liability Adjustment
Components Of Other Comprehensive Income Loss [Line Items]
Other comprehensive loss, before tax				(8)
Other comprehensive loss				(8)
Cash Flow Hedges
Components Of Other Comprehensive Income Loss [Line Items]
Other comprehensive loss, before tax	2,047	(3,805)	3,135	(2,567)
Other comprehensive loss, tax	(395)	1,282	(858)	674
Other comprehensive loss	$ 1,652	$ (2,523)	$ 2,277	$ (1,893)

Summary of Changes in Total Equ

Summary of Changes in Total Equity, Shareholders' Equity Attributable to Controlling Interest, and Equity Attributable to Noncontrolling Interests (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Balance as of May 31, 2016			$ 919,846
Net earnings	$ 49,867	$ 25,751	118,403	$ 60,746
Other comprehensive loss	(5,865)	$ (11,737)	(5,905)	$ (9,292)
Common shares issued, net of withholding tax			2,972
Common shares in NQ plans			948
Stock-based compensation			7,040
Cash dividends declared			(25,761)
Dividends to noncontrolling interest			(6,781)
Balance as of November 30, 2016	1,010,762		1,010,762
Additional Paid-in Capital
Balance as of May 31, 2016			298,984
Common shares issued, net of withholding tax			2,972
Common shares in NQ plans			948
Stock-based compensation			7,040
Balance as of November 30, 2016	309,944		309,944
Accumulated Other Comprehensive Loss, Net of Tax
Balance as of May 31, 2016			(28,565)
Other comprehensive loss			(5,762)
Balance as of November 30, 2016	(34,327)		(34,327)
Retained Earnings
Balance as of May 31, 2016			522,952
Net earnings			112,132
Cash dividends declared			(25,761)
Balance as of November 30, 2016	609,323		609,323
Parent
Balance as of May 31, 2016			793,371
Net earnings			112,132
Other comprehensive loss			(5,762)
Common shares issued, net of withholding tax			2,972
Common shares in NQ plans			948
Stock-based compensation			7,040
Cash dividends declared			(25,761)
Balance as of November 30, 2016	884,940		884,940
Noncontrolling Interest
Balance as of May 31, 2016			126,475
Net earnings			6,271
Other comprehensive loss			(143)
Dividends to noncontrolling interest			(6,781)
Balance as of November 30, 2016	$ 125,822		$ 125,822

Components of Changes in Accumu

Components of Changes in Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of May 31, 2016				$ 919,846
Income taxes		$ (395)	$ 1,282	(858)	$ 674
Balance as of November 30, 2016		1,010,762		1,010,762
Foreign Currency Translation
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of May 31, 2016				(18,728)
Other comprehensive income (loss) before reclassifications				(8,039)
Balance as of November 30, 2016		(26,767)		(26,767)
Pension Liability Adjustment
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of May 31, 2016				(17,061)
Balance as of November 30, 2016		(17,061)		(17,061)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of May 31, 2016				7,224
Other comprehensive income (loss) before reclassifications				8,050
Reclassification adjustments to income	[1]			(4,915)
Income taxes				(858)
Balance as of November 30, 2016		9,501		9,501
Accumulated Other Comprehensive Loss, Net of Tax
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of May 31, 2016				(28,565)
Balance as of November 30, 2016		(34,327)		(34,327)
Parent
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance as of May 31, 2016				793,371
Other comprehensive income (loss) before reclassifications				11
Reclassification adjustments to income	[1]			(4,915)
Income taxes				(858)
Balance as of November 30, 2016		$ 884,940		$ 884,940
[1]	The statement of earnings classification of amounts reclassified to income for cash flow hedges is disclosed in "NOTE N - Derivative Instruments and Hedging Activities."

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2016USD ($)$ / sharesshares
Non-Qualified Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options, granted | shares	111,000
Non-qualified stock option, per share price | $ / shares	$ 42.30
Non-qualified stock option, fair value, per share price | $ / shares	$ 11.60
Pre-tax stock-based compensation | $	$ 1,146,000
Pre-tax stock-based compensation, period of recognition	3 years
Service-Based Restricted Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition	3 years
Performance share awards granted | shares	513,300
Restricted common shares, fair value per share | $ / shares	$ 42.13
Pre-tax stock-based compensation | $	$ 19,347,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Pre-tax stock-based compensation, period of recognition	3 years
Performance share awards granted | shares	67,000
Pre-tax stock-based compensation | $	$ 3,009,000

Assumptions To Value Stock Opti

Assumptions To Value Stock Options (Detail) - Non-Qualified Stock Options	6 Months Ended
	Nov. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	2.59%
Expected volatility	36.86%
Risk-free interest rate	1.15%
Expected term (years)	6 years

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015
Income Taxes [Line Items]
Estimated annual effective income tax rate	28.50%	30.90%

Computation of Basic and Dilute

Computation of Basic and Diluted Earnings Per Share Attributable to Controlling Interest (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Numerator (basic & diluted):
Net earnings attributable to controlling interest-income available to common shareholders	$ 46,565	$ 23,376	$ 112,132	$ 55,344
Denominator:
Denominator for basic earnings per share attributable to controlling interest-weighted average common shares	62,348	62,676	62,115	63,338
Effect of dilutive securities	2,377	1,987	2,484	2,012
Denominator for diluted earnings per share attributable to controlling interest-adjusted weighted average common shares	64,725	64,663	64,599	65,350
Basic earnings per share attributable to controlling interest	$ 0.75	$ 0.37	$ 1.81	$ 0.87
Diluted earnings per share attributable to controlling interest	$ 0.72	$ 0.36	$ 1.74	$ 0.85

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Detail) - shares	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Shares excluded from computation of diluted earnings per share	110,354	367,094	92,923	346,557

Financial Information for Repor

Financial Information for Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015	May 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 727,780	$ 699,816	$ 1,465,329	$ 1,457,963
Operating income (loss)	43,044	11,972	107,942	42,968
Impairment of long-lived assets		22,962	0	25,962
Restructuring and other expense (income)	3,272	1,523	4,600	4,592
Total assets	2,142,724		2,142,724		$ 2,061,264
Steel Processing
Segment Reporting Information [Line Items]
Net sales	508,806	467,812	1,014,480	958,612
Operating income (loss)	35,448	26,642	90,230	50,280
Restructuring and other expense (income)	318	2,258	1,284	2,720
Total assets	836,265		836,265		819,853
Pressure Cylinders
Segment Reporting Information [Line Items]
Net sales	194,661	201,173	399,870	425,567
Operating income (loss)	11,304	(10,309)	25,409	6,510
Impairment of long-lived assets		22,962		22,962
Restructuring and other expense (income)	1,963	(16)	2,109	715
Total assets	763,716		763,716		787,786
Engineered Cabs
Segment Reporting Information [Line Items]
Net sales	22,463	28,699	48,044	67,316
Operating income (loss)	(3,381)	(4,290)	(5,224)	(13,581)
Impairment of long-lived assets				3,000
Restructuring and other expense (income)	1,004	765	1,210	2,643
Total assets	65,273		65,273		75,124
Other
Segment Reporting Information [Line Items]
Net sales	1,850	2,132	2,935	6,468
Operating income (loss)	(327)	(71)	(2,473)	(241)
Restructuring and other expense (income)	(13)	$ (1,484)	(3)	$ (1,486)
Total assets	$ 477,470		$ 477,470		$ 378,501

Derivative Instruments and He49

Derivative Instruments and Hedging Activities - Additional Information (Detail) - USD ($)	6 Months Ended	12 Months Ended
	Nov. 30, 2016	May 31, 2016
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total cash collateral	$ 154,000
Aggregate impact to fair value of derivative assets and liabilities as a result of recognition on a net basis	100,000	$ (300,000)
Losses in accumulated other comprehensive income expected to be reclassified into net earnings	(11,131,000)
Losses in accumulated other comprehensive income expected to be reclassified into net earnings, tax	$ (6,147,000)

Schedule of Fair Value of Deriv

Schedule of Fair Value of Derivative Instruments (Detail) - USD ($) $ in Thousands	Nov. 30, 2016	May 31, 2016
Derivative [Line Items]
Asset Derivatives at Fair Value	$ 20,612	$ 21,790
Liability Derivatives at Fair Value	956	2,013
Derivatives Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	15,908	16,813
Liability Derivatives at Fair Value	825	1,237
Derivatives Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	15,908	16,813
Liability Derivatives at Fair Value	489	776
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value		80
Derivatives Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	15,807	13,224
Derivatives Designated As Hedging Instruments | Commodity Contracts | Other Assets
Derivative [Line Items]
Asset Derivatives at Fair Value	101	3,589
Derivatives Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	489	696
Derivatives Designated As Hedging Instruments | Interest Rate Contracts
Derivative [Line Items]
Liability Derivatives at Fair Value	336	461
Derivatives Designated As Hedging Instruments | Interest Rate Contracts | Other Liabilities
Derivative [Line Items]
Liability Derivatives at Fair Value	195	306
Derivatives Designated As Hedging Instruments | Interest Rate Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	141	155
Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Asset Derivatives at Fair Value	4,704	4,977
Liability Derivatives at Fair Value	131	776
Derivatives Not Designated As Hedging Instruments | Commodity Contracts
Derivative [Line Items]
Asset Derivatives at Fair Value	4,190	4,977
Liability Derivatives at Fair Value	131	761
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	4,149	4,660
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Other Assets
Derivative [Line Items]
Asset Derivatives at Fair Value	41	317
Derivatives Not Designated As Hedging Instruments | Commodity Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value	131	761
Derivatives Not Designated As Hedging Instruments | Foreign Currency Contracts
Derivative [Line Items]
Liability Derivatives at Fair Value		15
Derivatives Not Designated As Hedging Instruments | Foreign Currency Contracts | Receivables
Derivative [Line Items]
Asset Derivatives at Fair Value	$ 514
Derivatives Not Designated As Hedging Instruments | Foreign Currency Contracts | Accounts Payable
Derivative [Line Items]
Liability Derivatives at Fair Value		$ 15

Schedule of Summary of Derivati

Schedule of Summary of Derivative Hedges (Detail)	6 Months Ended
	Nov. 30, 2016USD ($)
Commodity Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 22,389,000
Commodity Contracts | Derivatives Not Designated As Hedging Instruments | Minimum
Derivative [Line Items]
Maturity Date	2016-12
Commodity Contracts | Derivatives Not Designated As Hedging Instruments | Maximum
Derivative [Line Items]
Maturity Date	2018-08
Foreign Currency Contracts | Derivatives Not Designated As Hedging Instruments
Derivative [Line Items]
Notional Amount	$ 14,149,000
Foreign Currency Contracts | Derivatives Not Designated As Hedging Instruments | Minimum
Derivative [Line Items]
Maturity Date	2016-12
Foreign Currency Contracts | Derivatives Not Designated As Hedging Instruments | Maximum
Derivative [Line Items]
Maturity Date	2017-08
Cash Flow Hedges | Commodity Contracts
Derivative [Line Items]
Notional Amount	$ 49,224,000
Cash Flow Hedges | Commodity Contracts | Minimum
Derivative [Line Items]
Maturity Date	2016-12
Cash Flow Hedges | Commodity Contracts | Maximum
Derivative [Line Items]
Maturity Date	2018-12
Cash Flow Hedges | Interest Rate Contracts
Derivative [Line Items]
Notional Amount	$ 16,201,000
Maturity Date	2019-09

Schedule of Derivatives Designa

Schedule of Derivatives Designated as Cash Flow Hedging Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Derivative [Line Items]
Gain (Loss) Recognized in OCI (Effective Portion)	$ 7,317	$ (10,411)	$ 8,050	$ (18,503)
Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)	5,270	(6,606)	4,915	(15,936)
Commodity Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI (Effective Portion)	7,157	(10,210)	124	(18,336)
Commodity Contracts | Cost of Goods Sold
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)	5,737	(6,460)	(570)	(15,647)
Interest Rate Contracts
Derivative [Line Items]
Gain (Loss) Recognized in OCI (Effective Portion)	160	(201)	7,926	(167)
Interest Rate Contracts | Interest Expense
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)	$ (467)	$ (146)	$ 5,485	(285)
Foreign Currency Contracts | Miscellaneous Income, Net
Derivative [Line Items]
Gain (Loss) Reclassified from Accumulated OCI (Effective Portion)				$ (4)

Schedule of Gain (Loss) Recogni

Schedule of Gain (Loss) Recognized in Earnings for Economic (Non-Designated) Derivative Financial Instruments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2016	Nov. 30, 2015	Nov. 30, 2016	Nov. 30, 2015
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	$ 1,404	$ (5,320)	$ 4,246	$ (8,075)
Commodity Contracts | Cost of Goods Sold
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	2,003	(5,390)	4,911	(8,145)
Foreign Currency Contracts | Miscellaneous Income, Net
Derivative [Line Items]
Gain (Loss) Recognized in Earnings	$ (599)	$ 70	$ (665)	$ 70

Schedule of Assets and Liabilit

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands		Nov. 30, 2016	May 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		$ 20,612	$ 21,790
Liabilities		5,505	6,532
Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	20,612	21,790
Liabilities	[1]	956	2,013
Contingent consideration obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	[2]	4,549	4,519
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets		20,612	21,790
Liabilities		956	2,013
Significant Other Observable Inputs (Level 2) | Derivative Instruments
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets	[1]	20,612	21,790
Liabilities	[1]	956	2,013
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities		4,549	4,519
Significant Unobservable Inputs (Level 3) | Contingent consideration obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liabilities	[2]	$ 4,549	$ 4,519
[1]	The fair value of our derivative instruments is based on the present value of the expected future cash flows considering the risks involved, including non-performance risk, and using discount rates appropriate for the respective maturities. Market observable, Level 2 inputs are used to determine the present value of the expected future cash flows. Refer to "NOTE N - Derivative Instruments and Hedging Activities" for additional information regarding our use of derivative instruments.
[2]	The fair value of the contingent consideration obligations is determined using a probability weighted cash flow approach based on management's projections of future cash flows of the acquired businesses. The fair value measurement was based on Level 3 inputs not observable in the market.

Fair Value - Additional Informa

Fair Value - Additional Information (Detail) - Long-term Debt - USD ($)	Nov. 30, 2016	May 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term debt at fair value including current maturities	$ 593,821,000	$ 609,245,000
Long-term debt at carrying amount including current maturities	$ 576,911,000	$ 578,353,000