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Results of Reportable Segments (Detail) - USD ($)
$ in Thousands
3 Months Ended 12 Months Ended
May 31, 2018
Feb. 28, 2018
Nov. 30, 2017
Aug. 31, 2017
May 31, 2017
Feb. 28, 2017
Nov. 30, 2016
[2]
Aug. 31, 2016
May 31, 2018
May 31, 2017
May 31, 2016
Segment Reporting Information [Line Items]                      
Net Sales $ 1,558,156 [1] $ 1,102,677 $ 1,315,416 $ 1,345,394 $ 1,492,846 $ 1,022,496 $ 1,190,770 $ 1,252,063 $ 5,321,643 [3] $ 4,958,175 [3] $ 4,813,649 [3]
Income (Expense) Before Income Taxes [4]                 417,048 244,333 483,466
Interest (Expense) Income, Net [5]                 (84,105) (82,970) (81,318)
EBIT [6]                 501,153 327,303 564,784
Identifiable Assets 5,271,822       5,090,449       5,271,822 5,090,449 4,764,969
Capital Expenditures                 114,619 126,109 117,183
Depreciation and Amortization                 128,499 116,773 111,039
Operating Segments | Industrial Segment                      
Segment Reporting Information [Line Items]                      
Net Sales                 2,814,755 2,564,202 2,491,647
Income (Expense) Before Income Taxes [4]                 270,792 243,335 257,180
Interest (Expense) Income, Net [5]                 (10,507) (7,985) (6,071)
EBIT [6]                 281,299 251,320 263,251
Identifiable Assets 2,422,799       2,382,784       2,422,799 2,382,784 2,206,062
Capital Expenditures                 60,145 65,083 78,002
Depreciation and Amortization                 57,267 51,529 47,697
Operating Segments | Consumer Segment                      
Segment Reporting Information [Line Items]                      
Net Sales                 1,754,339 1,680,384 1,637,438
Income (Expense) Before Income Taxes [4]                 171,874 58,726 268,218
Interest (Expense) Income, Net [5]                 (713) (323) 40
EBIT [6]                 172,587 59,049 268,178
Identifiable Assets 1,859,381       1,821,190       1,859,381 1,821,190 1,734,600
Capital Expenditures                 38,921 45,690 27,269
Depreciation and Amortization                 38,037 33,374 31,445
Operating Segments | Specialty Segment                      
Segment Reporting Information [Line Items]                      
Net Sales                 752,549 713,589 684,564
Income (Expense) Before Income Taxes [4]                 123,307 107,904 107,546
Interest (Expense) Income, Net [5]                 876 526 814
EBIT [6]                 122,431 107,378 106,732
Identifiable Assets 740,952       759,822       740,952 759,822 754,757
Capital Expenditures                 14,958 14,104 10,238
Depreciation and Amortization                 27,457 26,453 25,646
Corporate/Other                      
Segment Reporting Information [Line Items]                      
Income (Expense) Before Income Taxes [4]                 (148,925) (165,632) (149,478)
Interest (Expense) Income, Net [5]                 (73,761) (75,188) (76,101)
EBIT [6]                 (75,164) (90,444) (73,377)
Identifiable Assets $ 248,690       $ 126,653       248,690 126,653 69,550
Capital Expenditures                 595 1,232 1,674
Depreciation and Amortization                 $ 5,738 $ 5,417 $ 6,251
[1] Reflects inventory-related charges of $36.5 million in our consumer reportable segment for product line rationalization and related obsolete inventory identification and $1.2 million in inventory reductions related to restructuring activities in our industrial reportable segment. Additional restructuring charges totaling $17.5 million were incurred during the fourth quarter of fiscal 2018, as further described in Note B, “Restructuring.” We also incurred charges in our industrial segment totaling $4.2 million in connection with the decision to exit Flowcrete China.
[2] Reflects the pretax goodwill and intangible asset impairment losses of $188.3 million related to our Kirker reporting unit. Refer to Note C, “Goodwill and Other Intangible Assets,” for further information. Also reflects $12.3 million pretax charge relating to the Flowcrete decision to exit the Middle East and $15.0 million in severance expense across all three reportable segments.
[3] It is not practicable to obtain the information needed to disclose revenues attributable to each of our product lines.
[4] The presentation includes a reconciliation of Income (Loss) Before Income Taxes, a measure defined by Generally Accepted Accounting Principles (GAAP) in the United States, to EBIT.
[5] Interest (expense), net includes the combination of interest expense and investment expense (income), net.
[6] EBIT is a non-GAAP measure, and is defined as earnings (loss) before interest and taxes. We evaluate the profit performance of our segments based on income before income taxes, but also look to EBIT as a performance evaluation measure because interest expense is essentially related to acquisitions, as opposed to segment operations. We believe EBIT is useful to investors for this purpose as well, using EBIT as a metric in their investment decisions. EBIT should not be considered an alternative to, or more meaningful than, income before income taxes as determined in accordance with GAAP, since EBIT omits the impact of interest in determining operating performance, which represent items necessary to our continued operations, given our level of indebtedness. Nonetheless, EBIT is a key measure expected by and useful to our fixed income investors, rating agencies and the banking community, all of whom believe, and we concur, that this measure is critical to the capital markets' analysis of our segments' core operating performance. We also evaluate EBIT because it is clear that movements in EBIT impact our ability to attract financing. Our underwriters and bankers consistently require inclusion of this measure in offering memoranda in conjunction with any debt underwriting or bank financing. EBIT may not be indicative of our historical operating results, nor is it meant to be predictive of potential future results.