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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2018
Nov. 30, 2017
Nov. 30, 2018
Nov. 30, 2017
Operating activities:        
Net earnings $ 37,792 $ 41,622 $ 94,750 $ 89,696
Adjustments to reconcile net earnings to net cash provided by operating activities:        
Depreciation and amortization 23,525 26,283 48,018 51,648
Impairment of goodwill and long-lived assets   8,289 2,381 8,289
Provision for (benefit from) deferred income taxes 3,289 (583) 22,223 7,351
Bad debt (income) expense 32 41 253 (21)
Equity in net income of unconsolidated affiliates, net of distributions 14,182 2,952 4,163 (4,803)
Net (gain) loss on assets (312) (10,680) 2,403 (9,255)
Stock-based compensation 3,456 3,787 6,612 7,194
Changes in assets and liabilities, net of impact of acquisitions:        
Receivables 40,838 (46,097) 54,247 16,581
Inventories 5,866 9,871 (37,471) (24,825)
Prepaid expenses and other current assets (13,249) 3,622 (21,668) 4,765
Other assets (1,194) (626) (1,260) (976)
Accounts payable and accrued expenses (71,711) (21,577) (100,496) (48,368)
Other liabilities 2,190 2,478 994 5,461
Net cash provided by operating activities 44,704 19,382 75,149 102,737
Investing activities:        
Investment in property, plant and equipment (21,741) (23,678) (41,175) (41,691)
Acquisitions, net of cash acquired   (523)   (285,028)
Distributions from unconsolidated affiliates 55,201   55,201  
Proceeds from sale of assets 170 16,312 20,447 16,739
Net cash provided (used) by investing activities 33,630 (7,889) 34,473 (309,980)
Financing activities:        
Net proceeds from short-term borrowings, net of issuance costs   302   600
Proceeds from long-term debt, net of issuance costs   (594)   197,685
Principal payments on long-term debt (371) (220) (801) (439)
Payments for issuance of common shares, net of tax withholdings (658) (722) (4,749) (3,996)
Payments to noncontrolling interests (4,007) (3,196) (6,327) (3,916)
Repurchase of common shares (63,581) (67,448) (100,433) (112,524)
Dividends paid (13,533) (13,256) (26,252) (26,034)
Net cash provided (used) by financing activities (82,150) (85,134) (138,562) 51,376
Decrease in cash and cash equivalents (3,816) (73,641) (28,940) (155,867)
Cash and cash equivalents at beginning of period 96,843 195,855 121,967 278,081
Cash and cash equivalents at end of period $ 93,027 $ 122,214 $ 93,027 $ 122,214