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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
May 31, 2023
May 31, 2022
May 31, 2021
Income Statement [Abstract]      
Net sales $ 4,916,392 $ 5,242,219 $ 3,171,429
Cost of goods sold 4,253,080 4,527,403 2,532,351
Gross margin 663,312 714,816 639,078
Selling, general and administrative expense 428,872 399,568 351,145
Impairment of long-lived assets 2,596 3,076 13,739
Restructuring and other (income) expense, net (4,571) (17,096) 56,097
Separation costs 24,048    
Incremental expenses related to Nikola gains     50,624
Operating income 212,367 329,268 167,473
Other income (expense):      
Miscellaneous income (expense), net (1,227) 2,714 2,163
Interest expense, net (26,759) (31,337) (30,346)
Equity in net income of unconsolidated affiliates 160,987 213,641 123,325
Gains on investment in Nikola     (655,102)
Earnings before income taxes 345,368 514,286 917,717
Income tax expense 76,198 115,022 176,267
Net earnings 269,170 399,264 741,450
Net earnings attributable to noncontrolling interests [1] 12,642 19,878 17,655
Net earnings attributable to controlling interest $ 256,528 $ 379,386 $ 723,795
Basic      
Average common shares outstanding 48,566 49,940 52,701
Earnings per common share attributable to controlling interest $ 5.28 $ 7.60 $ 13.73
Diluted      
Average common shares outstanding 49,386 50,993 53,917
Earnings per common share attributable to controlling interest $ 5.19 $ 7.44 $ 13.42
[1] Net earnings attributable to noncontrolling interests are not taxable to us.