Investments in Unconsolidated Affiliates (Tables)

9 Months Ended

Feb. 28, 2017

Unconsolidated Affiliates

Financial Information

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

(in thousands)	February 28, 2017		May 31, 2016
Cash	$	62,723	$	112,122
Other current assets		511,798		446,796
Noncurrent assets		365,343		352,370
Total assets	$	939,864	$	911,288
Current liabilities	$	141,266	$	112,491
Short-term borrowings		6,285		11,398
Current maturities of long-term debt		4,207		3,297
Long-term debt		268,032		266,942
Other noncurrent liabilities		20,558		21,034
Equity		499,516		496,126
Total liabilities and equity	$	939,864	$	911,288

	Three Months Ended				Nine Months Ended
(in thousands)	February 28, 2017		February 29, 2016		February 28, 2017		February 29, 2016
Net sales	$	384,261	$	376,448	$	1,188,568	$	1,170,096
Gross margin		84,645		83,251		305,383		257,036
Operating income		55,140		54,801		216,902		171,857
Depreciation and amortization		6,983		7,905		20,776		24,070
Interest expense		2,089		2,038		6,388		6,333
Income tax expense		5,065		2,625		16,128		7,348
Net earnings		49,098		51,994		198,609		186,063