Investments in Unconsolidated Affiliates (Tables)

6 Months Ended

Nov. 30, 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:

	November 30,		May 31,
(in thousands)	2022		2022
Cash and cash equivalents	$	41,768	$	68,563
Other current assets		911,881		1,148,029
Noncurrent assets		301,027		369,608
Total assets	$	1,254,676	$	1,586,200
Current liabilities		292,303		345,097
Short-term borrowings		10,000		5,943
Current maturities of long-term debt		36,110		33,054
Long-term debt		304,108		306,814
Other noncurrent liabilities		69,667		76,437
Equity		542,488		818,855
Total liabilities and equity	$	1,254,676	$	1,586,200

	Three Months Ended				Six Months Ended
	November 30,				November 30,
(in thousands)	2022		2021		2022		2021
Net sales	$	711,665	$	858,165	$	1,535,607	$	1,603,160
Gross margin		147,299		226,502		328,704		416,176
Operating income		107,356		184,779		245,183		330,767
Depreciation and amortization		6,864		7,848		15,052		16,075
Interest expense		3,910		2,711		6,590		5,172
Income tax expense		1,262		8,565		3,372		16,461
Net earnings		105,183		173,915		238,421		312,803