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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2024
Aug. 31, 2023
Operating activities:    
Net earnings $ 24,008 $ 99,703
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 11,830 28,325
Impairment of long-lived assets   1,401
Benefit from deferred income taxes (5,537) (5,453)
Loss on extinguishment of debt   1,534
Bad debt income (8) (799)
Equity in net income of unconsolidated affiliates, net of distributions 3,453 10,225
Net loss (gain) on sale of assets (18) 105
Stock-based compensation 3,925 4,516
Changes in assets and liabilities, net of impact of acquisitions:    
Receivables 28,166 (8,843)
Inventories (6,406) (64,327)
Accounts payable (13,093) 278
Accrued compensation and employee benefits (11,445) (12,014)
Other operating items, net 6,271 5,045
Net cash provided by operating activities 41,146 59,696
Investing activities:    
Investment in property, plant and equipment (9,629) (29,298)
Acquisitions, net of cash acquired (88,887)  
Proceeds from sale of assets, net of selling costs 11,769 51
Investment in non-marketable equity securities (2,000) (40)
Investment in note receivable   (15,000)
Net cash used by investing activities (88,747) (44,287)
Financing activities:    
Dividends paid (8,116) (15,725)
Repurchase of common shares (6,803)  
Proceeds from issuance of common shares, net of tax withholdings (3,158) (5,130)
Net repayments of short-term borrowings   (2,813)
Principal payments on long-term obligations   (243,757)
Payments to noncontrolling interests   (1,921)
Net cash used by financing activities (18,077) (269,346)
Decrease in cash and cash equivalents (65,678) (253,937)
Cash and cash equivalents at beginning of period 244,225 454,946
Cash and cash equivalents at end of period $ 178,547 $ 201,009