Consolidated Balance Sheets - USD ($) $ in Thousands	May 31, 2020	May 31, 2019
Current assets:
Cash and cash equivalents	$ 147,198	$ 92,363
Receivables, less allowances of $1,521 and $1,150 at May 31, 2020 and May 31, 2019, respectively	341,038	501,944
Inventories:
Raw materials	234,629	268,607
Work in process	76,497	113,848
Finished products	93,975	101,825
Total inventories	405,101	484,280
Income taxes receivable	8,376	10,894
Assets held for sale	12,928	6,924
Prepaid expenses and other current assets	68,538	69,508
Total current assets	983,179	1,165,913
Investments in unconsolidated affiliates	203,329	214,930
Operating lease assets	31,557
Goodwill	321,434	334,607
Other intangible assets, net of accumulated amortization of $92,774 and $87,759 at May 31, 2020 and May 31, 2019, respectively	184,416	196,059
Other assets	34,956	20,623
Property, plant and equipment:
Land	24,197	23,996
Buildings and improvements	302,796	310,112
Machinery and equipment	1,055,139	1,049,068
Construction in progress	52,231	49,423
Total property, plant and equipment	1,434,363	1,432,599
Less: accumulated depreciation	861,719	853,935
Total property, plant and equipment, net	572,644	578,664
Total assets	2,331,515	2,510,796
Current liabilities:
Accounts payable	247,017	393,517
Accrued compensation, contributions to employee benefit plans and related taxes	64,650	78,155
Dividends payable	14,648	14,431
Other accrued items	49,974	59,810
Current operating lease liabilities	10,851
Income taxes payable	949	1,164
Current maturities of long-term debt	149	150,943
Total current liabilities	388,238	698,020
Other liabilities	75,786	69,976
Distributions in excess of investment in unconsolidated affiliate	103,837	121,948
Long-term debt	699,516	598,356
Noncurrent operating lease liabilities	25,763
Deferred income taxes, net	71,942	74,102
Total liabilities	1,365,082	1,562,402
Shareholders' equity - controlling interest:
Preferred shares, without par value; authorized - 1,000,000 shares; issued and outstanding - none
Common shares, without par value; authorized - 150,000,000 shares; issued and outstanding, 2020 - 54,616,485 shares, 2019 - 55,467,525 shares
Additional paid-in capital	283,776	283,177
Accumulated other comprehensive loss, net of taxes of $7,922 and $7,100 at May 31, 2020 and May 31, 2019, respectively	(35,217)	(43,464)
Retained earnings	572,262	591,533
Total shareholders' equity - controlling interest	820,821	831,246
Noncontrolling interests	145,612	117,148
Total equity	966,433	948,394
Total liabilities and equity	$ 2,331,515	$ 2,510,796