Investments in Unconsolidated Affiliates (Tables)

6 Months Ended

Nov. 30, 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:

	November 30,		May 31,
(In thousands)	2023		2023
Cash and cash equivalents	$	37,728	$	49,185
Other current assets		871,945		899,913
Noncurrent assets		372,258		394,468
Total assets	$	1,281,931	$	1,343,566
Current liabilities		282,320		247,796
Current maturities of long-term debt		-		36,936
Long-term debt		349,323		349,215
Other noncurrent liabilities		138,566		144,649
Equity		511,722		564,970
Total liabilities and equity	$	1,281,931	$	1,343,566

	Three Months Ended				Six Months Ended
	November 30,				November 30,
(In thousands)	2023		2022		2023		2022
Net sales	$	676,875	$	711,665	$	1,397,308	$	1,535,607
Gross margin		166,939		147,299		361,247		328,704
Operating income		134,120		107,356		283,529		245,183
Depreciation and amortization		8,303		6,864		16,946		15,052
Interest expense		4,538		3,910		10,277		6,590
Income tax expense		6,708		1,262		8,354		3,372
Net earnings		122,670		105,183		266,236		238,421