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Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2022
Operating activities:      
Net earnings $ 170.1 $ 99.7 $ 200.3
Adjustments to reconcile net earnings to net cash provided by operating activities:      
Depreciation and amortization 65.3 69.6 59.5
Impairment of long-lived assets 1.4 2.1 3.1
Provision for (benefit from) deferred income taxes 1.1 (9.7) 13.6
Bad debt expense 1.1 1.6 0.7
Equity in net income of unconsolidated affiliate, net of distributions (20.4) 4.8 (27.3)
Net (gain) loss on sale of assets 1.0 (3.3) (15.1)
Stock-based compensation 10.3 10.4 8.7
Changes in assets and liabilities, net of impact of acquisitions:      
Receivables (1.4) 113.0 (109.7)
Inventories 16.4 154.5 (50.7)
Accounts payable (26.7) (124.3) (14.9)
Accrued compensation and employee benefits 7.9 (5.8) (12.3)
Other operating items, net (26.6) 2.4 (16.4)
Net cash provided by operating activities 199.5 315.0 39.5
Investing activities:      
Investment in property, plant and equipment (103.4) (45.5) (36.4)
Acquisitions, net of cash acquired (21.0) 0.0 (376.7)
Proceeds from sale of assets, net of selling costs 1.2 23.3 24.6
Purchase of noncontrolling interest in Worthington Taylor, LLC 0.0 0.0 (6.8)
Net cash used in investing activities (123.2) (22.2) (395.3)
Financing activities:      
Distribution to the Former Parent in connection with the Separation (150.0) 0.0 0.0
Transfers from (to) the Former Parent, net (47.6) (199.8) 316.9
Proceeds from (repayments of) short-term borrowings, net 127.2 (45.2) 41.7
Proceeds from revolving credit facility borrowings - swing loans 266.1 0.0 0.0
Repayment of revolving credit facility borrowings - swing loans (248.1) 0.0 0.0
Proceeds from issuance of common shares, net of tax withholdings 0.3 0.0 0.0
Proceeds from long-term debt from the Former Parent 0.0 0.0 50.0
Principal payments on long-term debt to the Former Parent 0.0 (15.0) (15.0)
Payments to noncontrolling interests (8.8) (20.2) (35.2)
Dividends paid (7.9) 0.0 0.0
Net cash provided by (used in) financing activities (68.8) (280.2) 358.4
Increase in cash and cash equivalents 7.5 12.6 2.6
Cash and cash equivalents at beginning of year 32.7 20.1 17.5
Cash and cash equivalents at end of year $ 40.2 $ 32.7 $ 20.1