XML 30 R4.htm IDEA: XBRL DOCUMENT v3.22.2
Consolidated Statements of Earnings - USD ($)
shares in Thousands
12 Months Ended
May 31, 2022
May 31, 2021
May 31, 2020
Income Statement [Abstract]      
Net sales $ 5,242,219,000 $ 3,171,429,000 $ 3,059,119,000
Cost of goods sold 4,527,403,000 2,532,351,000 2,615,782,000
Gross margin 714,816,000 639,078,000 443,337,000
Selling, general and administrative expense 399,568,000 351,145,000 328,110,000
Impairment of goodwill and long-lived assets 3,076,000 13,739,000 82,690,000
Restructuring and other (income) expense, net (17,096,000) 56,097,000 10,048,000
Incremental expenses related to Nikola gains   50,624,000  
Operating income 329,268,000 167,473,000 22,489,000
Other income (expense):      
Miscellaneous income, net 2,714,000 2,163,000 9,099,000
Interest expense (31,337,000) (30,346,000) (31,616,000)
Equity in net income of unconsolidated affiliates 213,641,000 123,325,000 114,848,000
Gains on investment in Nikola   655,102,000  
Loss on extinguishment of debt     (4,034,000)
Earnings before income taxes 514,286,000 917,717,000 110,786,000
Income tax expense 115,022,000 176,267,000 26,342,000
Net earnings 399,264,000 741,450,000 84,444,000
Net earnings attributable to noncontrolling interests [1] 19,878,000 17,655,000 5,648,000
Net earnings attributable to controlling interest $ 379,386,000 $ 723,795,000 $ 78,796,000
Basic      
Average common shares outstanding 49,940 52,701 54,958
Earnings per share attributable to controlling interest $ 7.60 $ 13.73 $ 1.43
Diluted      
Average common shares outstanding 50,993 53,917 55,983
Earnings per share attributable to controlling interest $ 7.44 $ 13.42 $ 1.41
[1] Net earnings attributable to noncontrolling interests are not taxable to us.