Quarterly Results of Operations (Unaudited) (Tables)

12 Months Ended

May 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Summary of Unaudited Quarterly Consolidated Results of Operations

The following table summarizes the unaudited quarterly consolidated results of operations for fiscal 2020 and fiscal 2019:

(in thousands, except per share)	Three Months Ended
Fiscal 2020	August 31			November 30		February 29		May 31
Net sales	$	855,859		$	827,637	$	763,996	$	611,627
Gross margin		117,291			120,611		115,545		89,890
Impairment of goodwill and long-lived assets (1)		40,601			-		34,627		7,462
Net earnings (loss)		(2,455	)		56,922		18,888		11,089
Net earnings (loss) attributable to controlling interest		(4,776	)		52,086		15,311		16,175
Basic earnings (loss) per share - controlling interest	$	(0.09	)	$	0.95	$	0.28	$	0.30
Diluted earnings (loss) per share - controlling interest	$	(0.09	)	$	0.93	$	0.27	$	0.29
Fiscal 2019	August 31			November 30		February 28		May 31
Net sales	$	988,107		$	958,226	$	874,381	$	938,842
Gross margin		142,997			120,934		90,021		126,003
Impairment of long-lived assets (1)		2,381			-		-		5,436
Net earnings		56,958			37,792		29,548		38,975
Net earnings attributable to controlling interest		54,942			34,002		26,773		37,738
Basic earnings per share - controlling interest	$	0.94		$	0.59	$	0.47	$	0.68
Diluted earnings per share - controlling interest	$	0.91		$	0.57	$	0.46	$	0.66

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