Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2023	May 31, 2022
Current assets:
Cash and cash equivalents	$ 454,946	$ 34,485
Receivables, less allowances of $3,383 and $1,292 at May 31, 2023 and May 31, 2022, respectively	692,887	857,493
Inventories:
Raw materials	264,568	323,609
Work in process	183,248	255,019
Finished products	160,152	180,512
Total inventories	607,968	759,140
Income taxes receivable	4,198	20,556
Assets held for sale	3,381	20,318
Prepaid expenses and other current assets	104,957	93,661
Total current assets	1,868,337	1,785,653
Investments in unconsolidated affiliates	252,591	327,381
Operating lease assets	99,967	98,769
Goodwill	414,820	401,469
Other intangible assets, net of accumulated amortization of $112,202 and $93,973 at May 31, 2023 and May 31, 2022, respectively	314,226	299,017
Other assets	25,323	34,394
Property, plant and equipment:
Land	49,697	51,483
Buildings and improvements	308,669	303,269
Machinery and equipment	1,263,962	1,196,806
Construction in progress	45,165	59,363
Total property, plant and equipment	1,667,493	1,610,921
Less: accumulated depreciation	991,839	914,581
Total property, plant and equipment, net	675,654	696,340
Total assets	3,650,918	3,643,023
Current liabilities:
Accounts payable	528,920	668,438
Short-term borrowings	2,813	47,997
Accrued compensation, contributions to employee benefit plans and related taxes	93,810	117,530
Dividends payable	18,330	15,988
Other accrued items	53,362	70,125
Current operating lease liabilities	12,608	11,618
Income taxes payable	7,451	300
Current maturities of long-term debt	264	265
Total current liabilities	717,558	932,261
Other liabilities	113,286	115,991
Distributions in excess of investment in unconsolidated affiliate	117,297	81,149
Long-term debt	689,718	696,345
Noncurrent operating lease liabilities	89,982	88,183
Deferred income taxes, net	101,449	115,132
Total liabilities	1,829,290	2,029,061
Shareholders' equity - controlling interest:
Preferred shares, without par value; authorized - 1,000,000 shares; issued and outstanding - none
Common shares, without par value; authorized - 150,000,000 shares; issued and outstanding, 2023 - 48,659,323 shares, 2022 - 48,380,112 shares
Additional paid-in capital	290,799	273,439
Accumulated other comprehensive loss, net of taxes of $(5) and $2,049 at May 31, 2023 and May 31, 2022, respectively	(23,179)	(22,850)
Retained earnings	1,428,391	1,230,163
Total shareholders' equity - controlling interest	1,696,011	1,480,752
Noncontrolling interests	125,617	133,210
Total equity	1,821,628	1,613,962
Total liabilities and equity	$ 3,650,918	$ 3,643,023