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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2021
Aug. 31, 2020
Operating activities:    
Net earnings $ 141,475 $ 618,738
Adjustments to reconcile net earnings to net cash (used) provided by operating activities:    
Depreciation and amortization 22,064 22,211
Impairment of long-lived assets 0 9,924
Provision for deferred income taxes 1,366 71,031
Bad debt expense 179 94
Equity in net income of unconsolidated affiliates, net of distributions (33,218) (6,757)
Net (gain) loss on sale of assets (12,706) 402
Stock-based compensation 3,303 4,856
Gains on investment in Nikola 0 (796,141)
Charitable contribution of Nikola shares 0 20,653
Changes in assets and liabilities, net of impact of acquisitions:    
Receivables (31,868) (82,194)
Inventories (163,682) 85,622
Accounts payable 46,668 47,154
Accrued compensation and employee benefits (46,177) 23,852
Income taxes payable 35,857 83,664
Other operating items, net (13,073) 14,279
Net cash (used) provided by operating activities (49,812) 117,388
Investing activities:    
Investment in property, plant and equipment (23,925) (32,871)
Acquisitions, net of cash acquired (104,750) 0
Proceeds from sale of assets, net 26,685 0
Proceeds from sale of Nikola shares 0 487,859
Net cash (used) provided by investing activities (101,990) 454,988
Financing activities:    
Principal payments on long-term obligations and debt redemption costs (392) (97)
Proceeds from issuance of common shares, net of tax withholdings (4,091) (1,150)
Payments to noncontrolling interests (9,197) (560)
Repurchase of common shares (60,885) (54,320)
Dividends paid (14,698) (13,379)
Net cash used by financing activities (89,263) (69,506)
(Decrease) increase in cash and cash equivalents (241,065) 502,870
Cash and cash equivalents at beginning of period 640,311 147,198
Cash and cash equivalents at end of period $ 399,246 $ 650,068