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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2019
May 31, 2018
May 31, 2017
Cash Flows From Operating Activities:      
Net income $ 267,687 $ 339,257 $ 184,671
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 94,043 81,976 71,870
Amortization 47,699 46,523 44,903
Restructuring charges, net of payments 8,072 17,514  
Goodwill, intangible and other asset impairments 4,190   193,198
Fair value adjustments to contingent earnout obligations 1,918 3,400 3,000
Other-than-temporary impairments on marketable securities     420
Deferred income taxes 5,434 (10,690) 24,049
Stock-based compensation expense 31,154 25,440 32,541
Other non-cash interest expense 1,552 6,187 9,986
Realized/unrealized losses (gains) on sales of marketable securities 7,613 (10,076) (8,174)
Loss on extinguishment of debt [1] 3,051    
Other (3,288) (1,141) 280
Changes in assets and liabilities, net of effect from purchases and sales of businesses:      
(Increase) in receivables (131,204) (106,179) (5,690)
(Increase) in inventory (16,829) (34,102) (70,726)
(Increase) decrease in prepaid expenses and other current and long-term assets (14,826) 3,348 (38,130)
(Decrease) increase in accounts payable (29,628) 51,641 16,247
Increase (decrease) in accrued compensation and benefits 19,241 (5,010) (4,577)
(Decrease) in accrued loss reserves (1,803) (10,387) (3,422)
(Decrease) in other accrued liabilities (5,232) (6,612) (64,322)
Other 4,097 (706) 3
Cash Provided By Operating Activities 292,941 390,383 386,127
Cash Flows From Investing Activities:      
Capital expenditures (136,757) (114,619) (126,109)
Acquisition of businesses, net of cash acquired (168,205) (112,442) (254,200)
Purchase of marketable securities (19,787) (181,953) (38,062)
Proceeds from sales of marketable securities 69,743 138,803 76,588
Other 6,760 9,018 2,118
Cash (Used For) Investing Activities (248,246) (261,193) (339,665)
Cash Flows From Financing Activities:      
Additions to long-term and short-term debt 628,083 351,082 597,633
Reductions of long-term and short-term debt (273,109) (276,406) (154,348)
Cash dividends (181,409) (167,476) (156,752)
Repurchase of common stock (200,222)    
Shares of common stock returned for taxes (21,758) (17,152) (21,948)
Payments of acquisition-related contingent consideration (4,066) (3,945) (4,284)
Payments for 524(g) trust   (123,567) (221,638)
Other (1,361) (1,912) (2,692)
Cash (Used For) Provided By Financing Activities (53,842) (239,376) 35,971
Effect of Exchange Rate Changes on Cash and Cash Equivalents (12,107) 4,111 2,912
Net Change in Cash and Cash Equivalents (21,254) (106,075) 85,345
Cash and Cash Equivalents at Beginning of Period 244,422 350,497 265,152
Cash and Cash Equivalents at End of Period 223,168 244,422 350,497
Cash paid during the year for:      
Interest 101,415 97,295 78,685
Income taxes, net of refunds 68,357 $ 83,460 $ 71,236
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 remeasurement on the date of conversion.