Investments in Unconsolidated Affiliates (Tables)

9 Months Ended

Feb. 28, 2023

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:

	February 28,		May 31,
(in thousands)	2023		2022
Cash and cash equivalents	$	83,482	$	68,563
Other current assets		820,978		1,148,029
Noncurrent assets		308,512		369,608
Total assets	$	1,212,972	$	1,586,200
Current liabilities		213,496		345,097
Short-term borrowings		10,000		5,943
Current maturities of long-term debt		48,898		33,054
Long-term debt		349,161		306,814
Other noncurrent liabilities		66,538		76,437
Equity		524,879		818,855
Total liabilities and equity	$	1,212,972	$	1,586,200

	Three Months Ended					Nine Months Ended
	February 28,					February 28,
(in thousands)	2023			2022		2023			2022
Net sales	$	626,527		$	789,483	$	2,162,134		$	2,392,643
Gross margin		150,698			187,602		479,402			603,778
Operating income		107,994			144,575		353,177			475,341
Depreciation and amortization		6,774			7,831		21,826			23,907
Interest expense		4,607			2,661		11,197			7,833
Income tax expense (benefit)		(3,782	)		4,478		(410	)		20,938
Net earnings		111,135			136,346		349,556			449,149