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Revenue (Tables)
9 Months Ended
Feb. 28, 2022
Revenue from Contract with Customer [Abstract]  
Trade Accounts Receivable Net of Allowances and Net Contract Assets

Trade accounts receivable, net of allowances, and net contract assets consisted of the following:

 

(In thousands, except percentages)

 

February 28, 2022

 

 

November 30, 2021

 

 

$ Change

 

 

% Change

 

Trade accounts receivable, less allowances

 

$

1,085,396

 

 

$

1,173,494

 

 

$

(88,098

)

 

 

-7.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets

 

$

47,638

 

 

$

47,615

 

 

$

23

 

 

 

0.0

%

Contract liabilities - short-term

 

 

(37,157

)

 

 

(36,279

)

 

 

(878

)

 

 

2.4

%

Net Contract Assets

 

$

10,481

 

 

$

11,336

 

 

$

(855

)

 

 

-7.5

%

 

 

 

 

 

 

 

 

 

 

 

 

 

(In thousands, except percentages)

 

February 28, 2022

 

 

May 31, 2021

 

 

$ Change

 

 

% Change

 

Trade accounts receivable, less allowances

 

$

1,085,396

 

 

$

1,280,806

 

 

$

(195,410

)

 

 

-15.3

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets

 

$

47,638

 

 

$

33,217

 

 

$

14,421

 

 

 

43.4

%

Contract liabilities - short-term

 

 

(37,157

)

 

 

(33,112

)

 

 

(4,045

)

 

 

12.2

%

Net Contract Assets

 

$

10,481

 

 

$

105

 

 

$

10,376

 

 

 

 

Summary of Activity for Allowance for Credit Losses

The following tables summarize the activity for the allowance for credit losses for the three and nine months ended February 28, 2022 and 2021:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

February 28,

 

February 28,

 

 

February 28,

 

February 28,

 

(In thousands)

2022

 

2021

 

 

2022

 

2021

 

Beginning Balance

$

50,932

 

$

53,542

 

 

$

55,922

 

$

55,847

 

Bad debt provision

 

571

 

 

3,800

 

 

 

2,645

 

 

4,968

 

Uncollectible accounts written off, net of recoveries

 

(2,436

)

 

(5,661

)

 

 

(7,335

)

 

(11,008

)

Translation adjustments

 

727

 

 

522

 

 

 

(1,438

)

 

2,396

 

Ending Balance

$

49,794

 

$

52,203

 

 

$

49,794

 

$

52,203