Investments in Unconsolidated Affiliates (Tables) - Unconsolidated Affiliates

3 Months Ended

Aug. 31, 2016

Balance Sheet

Financial Information

Combined financial information for our unconsolidated affiliates is summarized as follows:

(in thousands)	August 31, 2016		May 31, 2016
Cash	$	51,269	$	112,122
Other current assets		513,318		446,796
Noncurrent assets		355,777		352,370
Total assets	$	920,364	$	911,288
Current liabilities	$	125,082	$	112,491
Short-term borrowings		8,315		11,398
Current maturities of long-term debt		2,913		3,297
Long-term debt		265,301		266,942
Other noncurrent liabilities		22,678		21,034
Equity		496,075		496,126
Total liabilities and equity	$	920,364	$	911,288

Income Statement

Financial Information

	Three Months Ended August 31,
(in thousands)	2016		2015
Net sales	$	417,115	$	404,463
Gross margin		124,197		89,018
Operating income		94,397		61,246
Depreciation and amortization		6,820		8,097
Interest expense		2,148		2,159
Income tax expense		7,518		2,560
Net earnings		86,067		62,926