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Leases (Tables)
12 Months Ended
May 31, 2022
Leases [Abstract]  
Summary of Lease Costs

The following represents our lease costs as of May 31, 2022 and 2021:

 

May 31,

 

2022

 

 

2021

 

 

2020

 

(In thousands)

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

78,479

 

 

$

76,581

 

 

$

73,665

 

Variable lease expense

 

 

10,795

 

 

 

9,292

 

 

 

7,243

 

Short-term lease expense

 

 

2,132

 

 

 

2,022

 

 

 

2,583

 

Summary of Supplemental Cash Flow, Balance Sheet, and Other Required Disclosures

The following represents our supplemental cash flow, balance sheet, and other required disclosures as of May 31, 2022 and 2021:

 

May 31,

 

2022

 

 

2021

 

(In thousands)

 

 

 

 

 

 

Operating cash outflows from operating leases

 

$

73,566

 

 

$

71,257

 

Leased assets obtained in exchange for operating lease obligations

 

 

79,150

 

 

 

69,375

 

 

 

 

 

 

 

 

Current portion of operating leases within Other Accrued Liabilities

 

$

58,292

 

 

$

58,563

 

 

 

 

 

 

 

 

Weighted average remaining lease term for operating leases (in years)

 

 

8.5

 

 

 

8.6

 

Weighted average discount rate for operating leases

 

 

3.3

%

 

 

3.4

%

Schedule of Future Undiscounted Cash Flows and Reconciliation to Lease Liabilities

The following represents our future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities, as of May 31, 2022:

 

(In thousands)

 

 

 

Year ending May 31,

 

Operating Leases

 

2023

 

$

67,339

 

2024

 

 

56,556

 

2025

 

 

44,471

 

2026

 

 

37,254

 

2027

 

 

33,100

 

Thereafter

 

 

137,356

 

Total lease payments

 

$

376,076

 

Less imputed interest

 

 

52,645

 

Total present value of lease liabilities

 

$

323,431