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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Operating activities:    
Net earnings $ 65,244 $ 141,475
Adjustments to reconcile net earnings to net cash (used) provided by operating activities:    
Depreciation and amortization 28,001 22,064
Impairment of long-lived assets 312  
Provision for (benefit from) deferred income taxes (11,056) 1,366
Bad debt expense 342 179
Equity in net income of unconsolidated affiliates, net of distributions 42,845 (33,218)
Net gain on sale of assets (769) (12,706)
Stock-based compensation 4,236 3,303
Changes in assets and liabilities, net of impact of acquisitions:    
Receivables 37,419 (31,868)
Inventories 41,167 (163,682)
Accounts payable (101,581) 46,668
Accrued compensation and employee benefits (33,868) (46,177)
Income taxes payable 7,329 35,857
Other operating items, net 1,417 (13,073)
Net cash provided (used) by operating activities 81,038 (49,812)
Investing activities:    
Investment in property, plant and equipment (21,477) (23,925)
Investment in non-marketable equity securities (110)  
Acquisitions, net of cash acquired (56,088) (104,750)
Proceeds from sale of investment in ArtiFlex 36,095  
Proceeds from sale of assets, net of selling costs 11,755 26,685
Net cash used by investing activities (29,825) (101,990)
Financing activities:    
Net repayments of short-term borrowings (32,443)  
Principal payments on long-term obligations (137) (392)
Proceeds from issuance of common shares, net of tax withholdings (3,466) (4,091)
Payments to noncontrolling interests   (9,197)
Repurchase of common shares   (60,885)
Dividends paid (13,884) (14,698)
Net cash used by financing activities (49,930) (89,263)
Increase (decrease) in cash and cash equivalents 1,283 (241,065)
Cash and cash equivalents at beginning of period 34,485 640,311
Cash and cash equivalents at end of period $ 35,768 $ 399,246