Quarterly Results of Operations (Unaudited)

12 Months Ended

May 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Note T – Quarterly Results of Operations (Unaudited)

The following table summarizes the unaudited quarterly consolidated results of operations for fiscal 2018 and fiscal 2017:

(in thousands, except per share)	Three Months Ended
Fiscal 2018	August 31		November 30		February 28		May 31
Net sales	$	848,237	$	871,266	$	841,657	$	1,020,460
Gross margin		132,778		140,079		127,055		162,946
Impairment of goodwill and long-lived assets (1)				8,289		-		52,919
Net earnings		48,074		41,622		78,297		32,857
Net earnings attributable to controlling interest		45,534		39,403		79,087		30,770
Basic earnings per share - controlling interest	$	0.73	$	0.64	$	1.31	$	0.52
Diluted earnings per share - controlling interest	$	0.70	$	0.62	$	1.27	$	0.50
Fiscal 2017	August 31		November 30		February 28		May 31
Net sales	$	737,549	$	727,780	$	703,436	$	845,343
Gross margin		147,282		122,803		110,990		154,830
Net earnings		68,536		49,867		38,951		60,583
Net earnings attributable to controlling interest		65,567		46,565		35,889		56,494
Basic earnings per share - controlling interest	$	1.06	$	0.75	$	0.57	$	0.90
Diluted earnings per share - controlling interest	$	1.02	$	0.72	$	0.55	$	0.87

(1) For additional information regarding the Company’s impairment activity, refer to “Note C – Goodwill and Other Long-Lived Assets.”

The sum of the quarterly earnings per share data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly earnings per share calculations.