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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2019
Aug. 31, 2018
Operating activities:    
Net earnings (loss) $ (2,455) $ 56,958
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:    
Depreciation and amortization 24,177 24,493
Impairment of long-lived assets 40,601 2,381
Provision for (benefit from) deferred income taxes (3,498) 18,934
Bad debt expense 168 221
Equity in net income of unconsolidated affiliates, net of distributions 5,082 (10,019)
Net loss on sale of assets 618 2,715
Stock-based compensation 3,995 3,156
Loss on extinguishment of debt 4,034 0
Changes in assets and liabilities:    
Receivables 14,981 13,409
Inventories 44,282 (43,337)
Accounts payable (37,234) 2,814
Accrued compensation and employee benefits (23,215) (30,934)
Other operating items, net (7,167) (10,346)
Net cash provided by operating activities 64,369 30,445
Investing activities:    
Investment in property, plant and equipment (22,174) (19,434)
Proceeds from sale of assets 9,176 20,277
Net cash provided (used) by investing activities (12,998) 843
Financing activities:    
Proceeds from long-term debt, net of issuance costs 101,598  
Principal payments on long-term obligations and debt redemption costs (153,977) (430)
Payments for issuance of common shares, net of tax withholdings (3,213) (4,091)
Payments to noncontrolling interests   (2,320)
Repurchase of common shares (29,599) (36,852)
Dividends paid (12,960) (12,719)
Net cash used by financing activities (98,151) (56,412)
Decrease in cash and cash equivalents (46,780) (25,124)
Cash and cash equivalents at beginning of period 92,363 121,967
Cash and cash equivalents at end of period $ 45,583 $ 96,843