XML 23 R8.htm IDEA: XBRL DOCUMENT v3.24.2
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2022
Cash Flows provided by Operating Activities      
Net (loss) income $ (9,421) $ (22,870) $ 48,307
Adjustments to reconcile net (loss) income to net cash from operating activities:      
Depreciation and amortization 116,717 88,377 23,694
Impairment of discontinued product lines 556 3,109 0
(Gain) loss on sale of minority interest (103) 2,016 0
Deferred income taxes (27,423) (19,230) (4,695)
Share-based compensation 13,768 10,177 7,154
Loss (gain) on disposal of property and equipment 1,073 (486) 0
Amortization of debt issuance costs 3,441 2,720 0
Right of use asset amortization 4,510 2,097 438
Other 4,829 (685) (2,439)
Changes in operating assets and liabilities, net of business acquisitions:      
Accounts receivable, net (20,101) (53,879) (7,798)
Inventories (55,949) 9,955 (21,072)
Prepaid expenses and other assets 11,113 (3,121) (4,054)
Accounts payable, accruals and changes 13,751 18,642 20,238
Interest expense accrual (164) 4,052 0
Changes in other non-current assets and non-current liabilities (21,333) 154 8,265
Net Cash provided by Operating Activities 35,264 41,028 68,038
Cash Flows (used for) provided by Investing Activities      
Purchase of property, equipment and other non-current intangible assets (111,421) (65,757) (24,429)
Proceeds from the maturities of marketable securities 82,004 266,772 381,839
Purchase of marketable securities 0 (12,523) (415,894)
Business acquisitions, net of cash acquired 0 11,721 (38,745)
Proceeds from the sale of property and equipment and other 108 826 0
Net Cash (used for) provided by Investing Activities (29,309) 201,039 (97,229)
Cash Flows provided by (used for) Financing Activities      
Exercise of stock options and issuance of employee stock purchase plan shares 2,456 1,195 7,933
Repayment of debt 0 (100,000) 0
Payment of contingent consideration 0 0 (1,120)
Debt issuance costs paid and other (538) (19,276) 0
Net Cash provided by (used for) Financing Activities 1,918 (118,081) 6,813
Effects of Foreign Exchange Rate on Cash (502) (5,219) (8,751)
Net Increase (Decrease) in Cash and Cash Equivalents 7,371 118,767 (31,129)
Cash and Cash Equivalents, Beginning of Year 163,240 44,473 75,602
Cash and Cash Equivalents, End of Year 170,611 163,240 44,473
Supplementary Cash Flow Information      
Cash paid for interest 73,168 42,616 72
Income taxes paid, net of refunds $ 22,303 $ 15,473 $ 17,242