Investments in Unconsolidated Affiliates (Tables)

3 Months Ended

Aug. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Financial Information

The following tables summarize combined financial information for our unconsolidated affiliates as of the dates, and for the periods presented:

	August 31,		May 31,
(in thousands)	2022		2022
Cash and cash equivalents	$	18,675	$	68,563
Other current assets		1,004,636		1,148,029
Noncurrent assets		293,467		369,608
Total assets	$	1,316,778	$	1,586,200
Current liabilities		295,494		345,097
Short-term borrowings		5,000		5,943
Current maturities of long-term debt		33,923		33,054
Long-term debt		303,838		306,814
Other noncurrent liabilities		71,715		76,437
Equity		606,808		818,855
Total liabilities and equity	$	1,316,778	$	1,586,200

	Three Months Ended
	August 31,
(in thousands)	2022		2021
Net sales	$	823,942	$	744,995
Gross margin		181,405		189,674
Operating income		137,827		145,988
Depreciation and amortization		8,188		3,215
Interest expense		2,680		2,461
Income tax expense		2,110		7,896
Net earnings		133,238		138,888