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Revenue (Tables)
12 Months Ended
May 31, 2022
Revenue from Contract with Customer [Abstract]  
Trade Accounts Receivable Net of Allowances and Net Contract Assets (Liabilities)

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

 

Year Ended May 31,

 

2022

 

 

2021

 

 

$ Change

 

 

% Change

 

(In thousands, except percents)

 

 

 

 

 

 

 

 

 

 

 

 

Trade accounts receivable, less allowances

 

$

1,432,632

 

 

$

1,280,806

 

 

$

151,826

 

 

 

11.9

%

 

 

 

 

 

 

 

 

 

 

 

 

 

Contract assets

 

$

57,234

 

 

$

33,217

 

 

$

24,017

 

 

 

72.3

%

Contract liabilities - short-term

 

 

(44,938

)

 

 

(33,112

)

 

 

(11,826

)

 

 

35.7

%

Net Contract Assets

 

$

12,296

 

 

$

105

 

 

$

12,191

 

 

 

11610.5

%

Summary of Activity for Allowance for Credit Losses

The following tables summarize the activity for the allowance for credit losses for the fiscal year ended May 31, 2022:

(In thousands)

 

 

 

Balance at June 1, 2021

 

$

55,922

 

Bad debt provision

 

 

4,326

 

Uncollectible accounts written off, net of recoveries

 

 

(10,797

)

Translation adjustments

 

 

(2,782

)

Balance at May 31, 2022

 

$

46,669