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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
9 Months Ended
Feb. 29, 2020
Feb. 28, 2019
Cash Flows From Operating Activities:    
Net Income $ 195,907 $ 133,855
Adjustments to reconcile net income to net cash provided by (used for) operating activities:    
Depreciation and amortization 113,520 107,546
Restructuring charges, net of payments (132) 9,296
Fair value adjustments to contingent earnout obligations, net   1,558
Deferred income taxes 2,505 (8,747)
Stock-based compensation expense 18,881 20,892
Other non-cash interest expense   1,552
Realized/unrealized (gains) losses on marketable securities (3,063) 5,906
Loss on extinguishment of debt [1]   3,051
Other (371) 179
Changes in assets and liabilities, net of effect from purchases and sales of businesses:    
Decrease in receivables 282,052 152,622
(Increase) in inventory (73,566) (80,686)
Decrease in prepaid expenses and other current and long-term assets 19,747 11,593
(Decrease) in accounts payable (70,286) (166,951)
(Decrease) in accrued compensation and benefits (38,468) (32,503)
Increase in accrued losses 3,120 1,578
(Decrease) in other accrued liabilities (68,906) (20,952)
Other 237 5,716
Cash Provided By Operating Activities 381,177 145,505
Cash Flows From Investing Activities:    
Capital expenditures (105,430) (84,491)
Acquisition of businesses, net of cash acquired (65,102) (167,712)
Purchase of marketable securities (17,076) (16,644)
Proceeds from sales of marketable securities 21,325 67,550
Other 2,203 1,294
Cash (Used For) Investing Activities (164,080) (200,003)
Cash Flows From Financing Activities:    
Additions to long-term and short-term debt 698,256 596,222
Reductions of long-term and short-term debt (664,040) (253,343)
Cash dividends (138,784) (135,535)
Repurchases of common stock (100,000) (173,222)
Shares of common stock returned for taxes (16,579) (17,834)
Payments of acquisition-related contingent consideration (227) (3,598)
Other (665) (640)
Cash (Used For) Provided By Financing Activities (222,039) 12,050
Effect of Exchange Rate Changes on Cash and Cash Equivalents (5,984) (6,805)
Net Change in Cash and Cash Equivalents (10,926) (49,253)
Cash and Cash Equivalents at Beginning of Period 223,168 244,422
Cash and Cash Equivalents at End of Period 212,242 195,169
Cash paid during the period for:    
Interest 79,541 70,548
Income Taxes, net of refunds $ 89,042 33,859
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.