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Consolidated Statements of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
May 31, 2014
May 31, 2013
May 31, 2012
Operating activities:      
Net earnings $ 160,152 $ 136,835 $ 125,353
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 79,730 66,469 55,873
Impairment of long-lived assets 58,246 6,488 355
Provision for deferred income taxes (25,916) 1,798 775
Bad debt expense 32 783 339
Equity in net income of unconsolidated affiliates, net of distributions (15,333) (10,948) (1,019)
Net loss (gain) on sale of assets (11,212) 1,121 (5,918)
Stock-based compensation 22,017 13,270 11,742
Excess tax benefits - stock-based compensation (8,880) (5,183) (578)
Gain on previously held equity interest in TWB (11,000)    
Changes in assets and liabilities, net of impact of acquisitions:      
Receivables (49,206) 18,801 956
Inventories (38,010) 77,115 17,310
Prepaid expenses and other current assets (2,921) 871 8,478
Other assets (5,278) 4,636 4,141
Accounts payable and accrued expenses 69,682 (47,483) (45,847)
Other liabilities 6,943 8,404 1,689
Net cash provided by operating activities 229,046 272,977 173,649
Investing activities:      
Investment in property, plant and equipment (71,338) (44,588) (31,713)
Acquisitions, net of cash acquired (11,517) (175,225) (239,851)
Distributions from unconsolidated affiliates 9,223 863 45,879
Proceeds from sale of assets and insurance 27,438 16,974 37,089
Net cash used by investing activities (46,194) (201,976) (188,596)
Financing activities:      
Net proceeds from (payments of) short-term borrowings (103,618) (168,446) 97,626
Proceeds from long-term debt 247,566 150,000 5,880
Principal payments on long-term debt (1,219) (1,480) (342)
Proceeds from issuance of common shares 4,618 37,914 11,116
Excess tax benefits - stock-based compensation 8,880 5,183 578
Payments to noncontrolling interest (40,969) (9,254) (9,494)
Repurchase of common shares (128,218) (30,417) (73,418)
Dividends paid (31,198) (44,144) (32,138)
Net cash used by financing activities (44,158) (60,644) (192)
Increase (decrease) in cash and cash equivalents 138,694 10,357 (15,139)
Cash and cash equivalents at beginning of year 51,385 41,028 56,167
Cash and cash equivalents at end of year $ 190,079 $ 51,385 $ 41,028