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Consolidated and Combined Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Operating activities:    
Net earnings $ 48.3 $ 60.0
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 32.5 33.3
Impairment of long-lived assets 0.0 1.4
Benefit from deferred income taxes (2.3) (0.2)
Bad debt expense (income) 2.1 (0.4)
Equity in net (income) loss of unconsolidated affiliate, net of distributions 4.6 (12.8)
Net gain on sale of assets (1.2) (0.4)
Stock-based compensation 5.3 6.1
Changes in assets and liabilities, net of impact of acquisitions:    
Receivables 94.7 56.5
Inventories 62.4 48.3
Accounts payable (99.6) (49.9)
Accrued compensation and employee benefits (18.7) (2.7)
Other operating items, net (5.5) (20.0)
Net cash provided by operating activities 122.6 119.2
Investing activities:    
Investment in property, plant and equipment (56.3) (36.2)
Proceeds from sale of assets, net of selling costs 1.1 0.8
Acquisitions, net of cash acquired 0.0 (21.0)
Net cash used in investing activities (55.2) (56.4)
Financing activities:    
Transfers to the Former Parent, net 0.0 (51.4)
Proceeds from (repayment of) short-term borrowings (25.0) 172.2
Proceeds from revolving credit facility borrowings - swing loans 223.8 0.0
Repayment of revolving credit facility borrowings - swing loans (231.8) 0.0
Payments for issuance of common shares, net of tax withholdings (1.7) 0.0
Payments to noncontrolling interests (5.0) (1.9)
Dividends paid (15.9) 0.0
Net cash provided by (used in) financing activities (55.6) 118.9
Increase in cash and cash equivalents 11.8 181.7
Cash and cash equivalents at beginning of period 40.2 32.7
Cash and cash equivalents at end of period $ 52.0 $ 214.4