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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2017
Nov. 30, 2016
Nov. 30, 2017
Nov. 30, 2016
Net sales $ 871,266 $ 727,780 $ 1,719,503 $ 1,465,329
Cost of goods sold 731,187 604,977 1,446,646 1,195,244
Gross margin 140,079 122,803 272,857 270,085
Selling, general and administrative expense 89,425 76,487 177,674 157,543
Impairment of goodwill and long-lived assets 8,289   8,289  
Restructuring and other expense (income), net (9,694) 3,272 (7,390) 4,600
Operating income 52,059 43,044 94,284 107,942
Other income (expense):        
Miscellaneous income, net 1,321 872 1,669 1,735
Interest expense (10,038) (7,658) (18,845) (15,528)
Equity in net income of unconsolidated affiliates 16,445 27,124 43,751 61,668
Earnings before income taxes 59,787 63,382 120,859 155,817
Income tax expense 18,165 13,515 31,163 37,414
Net earnings 41,622 49,867 89,696 118,403
Net earnings attributable to noncontrolling interests 2,219 3,302 4,759 6,271
Net earnings attributable to controlling interest $ 39,403 $ 46,565 $ 84,937 $ 112,132
Basic        
Average common shares outstanding 61,503 62,348 61,976 62,115
Earnings per share attributable to controlling interest $ 0.64 $ 0.75 $ 1.37 $ 1.81
Diluted        
Average common shares outstanding 63,468 64,725 64,044 64,599
Earnings per share attributable to controlling interest $ 0.62 $ 0.72 $ 1.33 $ 1.74
Common shares outstanding at end of period 60,755 62,562 60,755 62,562
Cash dividends declared per share $ 0.21 $ 0.20 $ 0.42 $ 0.40