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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Feb. 28, 2019
Feb. 28, 2018
Operating activities:        
Net earnings $ 29,548 $ 78,297 $ 124,298 $ 167,993
Adjustments to reconcile net earnings to net cash provided by operating activities:        
Depreciation and amortization 23,625 25,338 71,643 76,986
Impairment of goodwill and long-lived assets     2,381 8,289
Provision for (benefit from) deferred income taxes (730) (27,373) 21,493 (20,022)
Bad debt (income) expense 201 17 454 (4)
Equity in net income of unconsolidated affiliates, net of distributions (865) 2,835 3,298 (1,968)
Net gain on assets (12,606) (1,437) (10,203) (10,692)
Stock-based compensation 1,143 2,882 7,755 10,076
Changes in assets and liabilities, net of impact of acquisitions:        
Receivables 1,546 4,071 55,793 20,652
Inventories (1,054) (15,398) (38,525) (40,223)
Prepaid expenses and other current assets (4,276) (4,914) (25,944) (149)
Other assets 79 (2,069) (1,181) (3,045)
Accounts payable and accrued expenses 14,963 35,564 (85,533) (12,804)
Other liabilities 464 2,107 1,458 7,568
Net cash provided by operating activities 52,038 99,920 127,187 202,657
Investing activities:        
Investment in property, plant and equipment (19,379) (13,628) (60,554) (55,319)
Acquisitions, net of cash acquired       (285,028)
Distributions from unconsolidated affiliate 1,492   56,693  
Proceeds from sale of assets 27,843 3 48,290 16,742
Net cash provided (used) by investing activities 9,956 (13,625) 44,429 (323,605)
Financing activities:        
Net repayments of short-term borrowings, net of issuance costs   (1,108)   (508)
Proceeds from long-term debt, net of issuance costs       197,685
Principal payments on long-term debt (303) (374) (1,104) (813)
Proceeds from issuance of common shares, net of tax withholdings 104 581 (4,645) (3,415)
Payments to noncontrolling interests     (6,327) (3,916)
Repurchase of common shares (28,587) (47,418) (129,020) (159,942)
Dividends paid (13,119) (12,766) (39,371) (38,800)
Net cash used by financing activities (41,905) (61,085) (180,467) (9,709)
Increase (decrease) in cash and cash equivalents 20,089 25,210 (8,851) (130,657)
Cash and cash equivalents at beginning of period 93,027 122,214 121,967 278,081
Cash and cash equivalents at end of period $ 113,116 $ 147,424 $ 113,116 $ 147,424