XML 18 R7.htm IDEA: XBRL DOCUMENT v3.19.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Feb. 28, 2019
Feb. 28, 2018
Cash Flows From Operating Activities:    
Net Income $ 133,855 $ 253,349
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation 71,869 61,078
Amortization 35,677 35,123
Restructuring charges, net of payments 9,296  
Fair value adjustments to contingent earnout obligations 1,558  
Deferred income taxes (8,747) (42,885)
Stock-based compensation expense 20,892 17,698
Other non-cash interest expense 1,552 4,275
Realized/unrealized losses (gains) on marketable securities 5,906 (6,833)
Loss on extinguishment of debt [1] 3,051  
Other 179 (71)
Changes in assets and liabilities, net of effect from purchases and sales of businesses:    
Decrease in receivables 152,622 138,942
(Increase) in inventory (80,686) (121,095)
Decrease in prepaid expenses and other current and long-term assets 11,593 14,307
(Decrease) in accounts payable (166,951) (112,888)
(Decrease) in accrued compensation and benefits (32,503) (45,873)
Increase (decrease) in accrued losses 1,578 (11,001)
(Decrease) in other accrued liabilities (20,952) (42,895)
Other 5,716 (483)
Cash Provided By Operating Activities 145,505 140,748
Cash Flows From Investing Activities:    
Capital expenditures (84,491) (72,769)
Acquisition of businesses, net of cash acquired (167,712) (59,991)
Purchase of marketable securities (16,644) (139,641)
Proceeds from sales of marketable securities 67,550 97,624
Other 1,294 6,766
Cash (Used For) Investing Activities (200,003) (168,011)
Cash Flows From Financing Activities:    
Additions to long-term and short-term debt 596,222 340,106
Reductions of long-term and short-term debt (253,343) (264,051)
Cash dividends (135,535) (125,672)
Shares repurchased and shares returned for taxes (191,056) (15,065)
Payments of acquisition-related contingent consideration (3,598) (3,825)
Other (640) (1,911)
Cash Provided By (Used For) Financing Activities 12,050 (70,418)
Effect of Exchange Rate Changes on Cash and Cash Equivalents (6,805) 11,570
Net Change in Cash and Cash Equivalents (49,253) (86,111)
Cash and Cash Equivalents at Beginning of Period 244,422 350,497
Cash and Cash Equivalents at End of Period 195,169 264,386
Cash paid during the period for:    
Interest 70,548 69,239
Income Taxes, net of refunds 33,859 $ 79,441
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Conversion of Debt to Equity $ 38,239  
[1] In connection with the redemption of all of our outstanding 2.25% convertible senior notes in November 2018, we recognized a loss of $3.1 million, due to the fair value measurement of the instrument on the date of conversion.