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Combined Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Nov. 30, 2023
Nov. 30, 2022
Operating activities:        
Net earnings (loss) $ (2.1) $ (12.5) $ 60.0 $ 18.8
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:        
Depreciation and amortization 16.4 17.8 33.3 35.5
Impairment of long-lived assets 0.0 0.0 1.4 0.3
Benefit from deferred income taxes (0.1) (0.1) (0.2) (0.2)
Bad debt expense 0.3 1.0 (0.4) 1.3
Equity in net income of unconsolidated affiliate, net of distributions (3.8) (1.9) (12.8) (3.7)
Net gain on sale of assets (0.4) (3.8) (0.4) (3.8)
Stock-based compensation 3.3 2.5 6.1 4.8
Changes in assets and liabilities, net of impact of acquisitions:        
Receivables 89.4 98.9 56.5 114.0
Inventories 91.5 86.9 48.3 145.1
Accounts payable (53.5) (84.4) (49.9) (176.1)
Accrued compensation and employee benefits 0.8 1.3 (2.7) (5.5)
Other operating items, net (1.9) (2.4) (20.0) (13.0)
Net cash provided by operating activities 139.9 103.3 119.2 117.5
Investing activities:        
Investment in property, plant and equipment (18.9) (14.5) (36.2) (25.6)
Proceeds from sale of assets, net of selling costs 0.8 23.2 0.8 23.2
Acquisitions, net of cash acquired (21.0) 0.0 (21.0) 0.0
Net cash provided by (used in) investing activities (39.1) 8.7 (56.4) (2.4)
Financing activities:        
Transfers to Worthington Enterprises, Inc., net (88.8) (75.3) (51.4) (39.2)
Proceeds from (repayment of) short-term borrowings 175.0 (10.6) 172.2 (43.1)
Principal payments on long-term obligations 0.0 (10.0) 0.0 (10.0)
Payments to noncontrolling interests 0.0 (11.8) (1.9) (11.8)
Net cash provided by (used in) financing activities 86.2 (107.7) 118.9 (104.1)
Increase (decrease) in cash and cash equivalents 187.0 4.3 181.7 11.0
Cash and cash equivalents at beginning of period 27.4 26.8 32.7 20.1
Cash and cash equivalents at end of period $ 214.4 $ 31.1 $ 214.4 $ 31.1