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Related Party Transactions
12 Months Ended
May 31, 2022
Related Party Transactions [Abstract]  
Related Party Transactions

Note U – Related Party Transactions

 

We purchase from, and sell to, affiliated companies certain raw materials and services at prevailing market prices. Net sales to affiliated companies for fiscal 2022, fiscal 2021 and fiscal 2020 totaled $82,516,000, $41,426,000, and $33,826,000, respectively. Purchases from affiliated companies for fiscal 2022, fiscal 2021 and fiscal 2020 totaled $12,389,000, $5,000,000, and $2,461,000,

respectively. Accounts receivable from affiliated companies were $3,551,000 and $3,891,000 at May 31, 2022 and 2021, respectively. Accounts payable to affiliated companies were $12,000 and $9,000 at May 31, 2022 and 2021, respectively.