XML 17 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Operating activities:    
Net earnings $ 99,703 $ 65,244
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 28,325 28,001
Impairment of long-lived assets 1,401 312
Benefit from deferred income taxes (5,453) (11,056)
Loss on extinguishment of debt 1,534  
Bad debt expense (799) 342
Equity in net income of unconsolidated affiliates, net of distributions 10,225 42,845
Net loss (gain) on sale of assets 105 (769)
Stock-based compensation 4,516 4,236
Changes in assets and liabilities, net of impact of acquisitions:    
Receivables (8,843) 37,419
Inventories (64,327) 41,167
Accounts payable 278 (101,581)
Accrued compensation and employee benefits (12,014) (33,868)
Income taxes payable 28,462 7,329
Other operating items, net (23,417) 1,417
Net cash provided by operating activities 59,696 81,038
Investing activities:    
Investment in property, plant and equipment (29,298) (21,477)
Investment in note receivable (15,000)  
Investment in non-marketable equity securities (40) (110)
Proceeds from sale of assets, net of selling costs 51 11,755
Acquisitions, net of cash acquired   (56,088)
Net proceeds from sale of investment in ArtiFlex   36,095
Net cash used by investing activities (44,287) (29,825)
Financing activities:    
Net repayments of short-term borrowings (2,813) (32,443)
Principal payments on long-term obligations (243,757) (137)
Proceeds from issuance of common shares, net of tax withholdings (5,130) (3,466)
Payments to noncontrolling interests (1,921)  
Dividends paid (15,725) (13,884)
Net cash used by financing activities (269,346) (49,930)
Increase (decrease) in cash and cash equivalents (253,937) 1,283
Cash and cash equivalents at beginning of period 454,946 34,485
Cash and cash equivalents at end of period $ 201,009 $ 35,768