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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Nov. 30, 2019
Nov. 30, 2018
Cash Flows From Operating Activities:    
Net Income $ 183,818 $ 119,359
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 77,572 73,025
Restructuring charges, net of payments (1,713) 7,464
Payments of contingent earnout obligations in excess of fair value   1,558
Deferred income taxes (5,426) (1,400)
Stock-based compensation expense 13,034 12,896
Other non-cash interest expense   1,552
Realized/unrealized (gains) losses on marketable securities (8,741) 7,496
Loss on extinguishment of debt [1]   3,051
Other (705) 2,349
Changes in assets and liabilities, net of effect from purchases and sales of businesses:    
Decrease in receivables 183,782 92,398
(Increase) in inventory (41,129) (49,020)
Decrease (increase) in prepaid expenses and other current and long-term assets 8,524 (942)
(Decrease) in accounts payable (70,712) (117,678)
(Decrease) in accrued compensation and benefits (53,589) (41,470)
Increase in accrued losses 1,894 1,131
Increase in other accrued liabilities 13,644 33,422
Other (90) 3,098
Cash Provided By Operating Activities 300,163 148,289
Cash Flows From Investing Activities:    
Capital expenditures (71,393) (57,775)
Acquisition of businesses, net of cash acquired (36,281) (127,848)
Purchase of marketable securities (14,332) (13,276)
Proceeds from sales of marketable securities 13,100 35,426
Other 2,183 (2,394)
Cash (Used For) Investing Activities (106,723) (165,867)
Cash Flows From Financing Activities:    
Additions to long-term and short-term debt 539,277 447,843
Reductions of long-term and short-term debt (542,744) (247,440)
Cash dividends (92,040) (89,196)
Shares repurchased (100,000) (81,992)
Shares returned for taxes (10,155) (16,466)
Payments of acquisition-related contingent consideration (187) (3,531)
Other (664) (391)
Cash (Used For) Provided By Financing Activities (206,513) 8,827
Effect of Exchange Rate Changes on Cash and Cash Equivalents (1,922) (8,757)
Net Change in Cash and Cash Equivalents (14,995) (17,508)
Cash and Cash Equivalents at Beginning of Period 223,168 244,422
Cash and Cash Equivalents at End of Period 208,173 226,914
Cash paid during the period for:    
Interest 58,953 49,687
Income Taxes, net of refunds $ 73,322 25,311
Supplemental Disclosures of Non-Cash Investing and Financing Activities:    
Conversion of Debt to Equity   $ 38,239
[1] In connection with the redemption of all 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.