Investments in Unconsolidated Affiliates (Tables)

6 Months Ended

Nov. 30, 2017

Unconsolidated Affiliates

Financial Information

Combined financial information for our unconsolidated affiliates is summarized in the tables below:

(in thousands)	November 30, 2017		May 31, 2017
Cash	$	50,389	$	55,541
Other current assets		553,970		559,021
Noncurrent assets		371,328		361,106
Total assets	$	975,687	$	975,668
Current liabilities	$	139,168	$	156,947
Short-term borrowings		16,539		8,172
Current maturities of long-term debt		5,118		5,827
Long-term debt		266,036		268,711
Other noncurrent liabilities		21,637		21,380
Equity		527,189		514,631
Total liabilities and equity	$	975,687	$	975,668

	Three Months Ended November 30,				Six Months Ended November 30,
(in thousands)	2017		2016		2017		2016
Net sales	$	412,617	$	387,192	$	855,241	$	804,307
Gross margin		71,122		96,541		157,357		220,738
Operating income		34,604		67,365		91,767		161,762
Depreciation and amortization		5,935		6,973		13,128		13,793
Interest expense		2,461		2,151		4,953		4,299
Income tax expense		1,816		3,545		3,164		11,063
Net earnings		30,190		63,444		82,664		149,511