Quarterly Results of Operations (Unaudited)

12 Months Ended

May 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Quarterly Results of Operations (Unaudited)

Note V – Quarterly Results of Operations (Unaudited)

The following table summarizes the unaudited quarterly consolidated results of operations for fiscal 2021 and fiscal 2020:

(in thousands, except per share)	Three Months Ended
Fiscal 2021	August 31			November 30			February 28		May 31
Net sales	$	702,909		$	731,092		$	759,109	$	978,319
Gross margin		113,358			135,474			164,098		226,148
Impairment of long-lived assets (1)		9,924			3,815			-		-
Net earnings (loss)		618,738			(68,512	)		72,683		118,542
Net earnings (loss) attributable to controlling interest		616,675			(74,044	)		67,609		113,555
Basic earnings (loss) per share - controlling interest	$	11.41		$	(1.40	)	$	1.30	$	2.20
Diluted earnings (loss) per share - controlling interest	$	11.22		$	(1.40	)	$	1.27	$	2.15
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

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

The sum of the quarterly earnings per share data presented in the table may not equal the annual results due to rounding and the impact of dilutive securities on the annual versus the quarterly earnings per share calculations.