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Supplemental Guarantor Information
12 Months Ended
May 31, 2012
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Supplemental Guarantor Information
Supplemental Guarantor Information
Cintas Corporation No. 2 (Corp. 2) is the indirectly, wholly-owned principal operating subsidiary of Cintas. Corp. 2 is the issuer of the $1,275.0 million of long-term senior notes, which are unconditionally guaranteed, jointly and severally, by Cintas Corporation and its wholly-owned, direct and indirect domestic subsidiaries.
As allowed by SEC rules, the following condensed consolidating financial statements     are provided as an alternative to filing separate financial statements of the guarantors. Each of the subsidiaries presented in the following condensed consolidating financial statements has been fully consolidated in Cintas' consolidated financial statements. The following condensed consolidating financial statements should be read in conjunction with the consolidated financial statements of Cintas and notes thereto of which this note is an integral part.
Condensed consolidating financial statements for Cintas, Corp. 2, the subsidiary guarantors and non-guarantors are presented on the following pages:
Condensed Consolidating Income Statement

Year Ended May 31, 2012 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Revenue:
 
 
 
 
 
 
 
 
 
 
 
Rental uniforms and
ancillary products
$
—

 
$
2,233,085

 
$
574,950

 
$
210,683

 
$
(106,457
)
 
$
2,912,261

Other services
—

 
1,488,163

 
28,660

 
117,791

 
(444,875
)
 
1,189,739

Equity in net income of
affiliates
297,637

 
—

 
—

 
—

 
(297,637
)
 
—

 
297,637

 
3,721,248

 
603,610

 
328,474

 
(848,969
)
 
4,102,000

Costs and expenses (income):
 
 
 
 
 
 
 
 
 
 
 
Cost of rental uniforms and ancillary products
—

 
1,386,320

 
362,803

 
145,293

 
(245,865
)
 
1,648,551

Cost of other services
—

 
955,148

 
(13,649
)
 
73,130

 
(299,788
)
 
714,841

Selling and administrative expenses
—

 
1,184,888

 
(69,882
)
 
(145,953
)
 
229,928

 
1,198,981

Operating income
297,637

 
194,892

 
324,338

 
256,004

 
(533,244
)
 
539,627

 
 
 
 
 
 
 
 
 
 
 
 
Interest income
—

 
(111,631
)
 
(589
)
 
(190,345
)
 
300,623

 
(1,942
)
Interest expense (income)
—

 
72,212

 
(1,543
)
 
(44
)
 
—

 
70,625

 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
297,637

 
234,311

 
326,470

 
446,393

 
(833,867
)
 
470,944

Income taxes
—

 
68,752

 
95,793

 
8,814

 
(52
)
 
173,307

 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
297,637

 
$
165,559

 
$
230,677

 
$
437,579

 
$
(833,815
)
 
$
297,637


Condensed Consolidating Income Statement

Year Ended May 31, 2011 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Revenue:
 
 
 
 
 
 
 
 
 
 
 
Rental uniforms and
ancillary products
$
—

 
$
2,069,895

 
$
531,525

 
$
196,380

 
$
(105,552
)
 
$
2,692,248

Other services
—

 
1,395,119

 
340,063

 
109,634

 
(726,680
)
 
1,118,136

Equity in net income of
affiliates
246,989

 
—

 
—

 
—

 
(246,989
)
 
—

 
246,989

 
3,465,014

 
871,588

 
306,014

 
(1,079,221
)
 
3,810,384

Costs and expenses (income):
 
 
 
 
 
 
 
 
 
 
 
Cost of rental uniforms and ancillary products
—

 
1,305,908

 
330,442

 
132,463

 
(238,357
)
 
1,530,456

Cost of other services
—

 
876,359

 
316,650

 
67,997

 
(590,365
)
 
670,641

Selling and administrative expenses
—

 
1,065,037

 
17,270

 
92,839

 
(6,202
)
 
1,168,944

Operating income
246,989

 
217,710

 
207,226

 
12,715

 
(244,297
)
 
440,343

 
 
 
 
 
 
 
 
 
 
 
 
Interest income
—

 
(589
)
 
(697
)
 
(100,777
)
 
100,033

 
(2,030
)
Interest expense (income)
—

 
52,357

 
(2,687
)
 
34

 
—

 
49,704

 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
246,989

 
165,942

 
210,610

 
113,458

 
(344,330
)
 
392,669

Income taxes
—

 
60,028

 
76,186

 
9,494

 
(28
)
 
145,680

 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
246,989

 
$
105,914

 
$
134,424

 
$
103,964

 
$
(344,302
)
 
$
246,989

Condensed Consolidating Income Statement

Year Ended May 31, 2010 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Revenue:
 
 
 
 
 
 
 
 
 
 
 
Rental uniforms and
ancillary products
$
—

 
$
1,970,303

 
$
518,254

 
$
180,847

 
$
(100,047
)
 
$
2,569,357

Other services
—

 
1,216,779

 
351,368

 
66,229

 
(656,394
)
 
977,982

Equity in net income of
    affiliates
215,620

 
—

 
—

 
—

 
(215,620
)
 
—

 
215,620

 
3,187,082

 
869,622

 
247,076

 
(972,061
)
 
3,547,339

Costs and expenses (income):
 
 
 
 
 
 
 
 
 
 
 
Cost of rental uniforms and ancillary products
—

 
1,226,076

 
332,935

 
111,340

 
(220,775
)
 
1,449,576

Cost of other services
—

 
798,841

 
297,890

 
41,316

 
(538,101
)
 
599,946

Selling and administrative expenses
—

 
1,037,945

 
(20,140
)
 
67,669

 
885

 
1,086,359

Legal settlements, net of insurance proceeds
—

 
—

 
23,529

 
—

 
—

 
23,529

Restructuring credits
—

 
(1,080
)
 
(1,800
)
 
—

 
—

 
(2,880
)
Operating income
215,620

 
125,300

 
237,208

 
26,751

 
(214,070
)
 
390,809

 
 
 
 
 
 
 
 
 
 
 
 
Interest income
—

 
(268
)
 
(1,130
)
 
(297
)
 
—

 
(1,695
)
Interest expense (income)
—

 
51,486

 
(2,897
)
 
23

 
—

 
48,612

 
 
 
 
 
 
 
 
 
 
 
 
Income before income taxes
215,620

 
74,082

 
241,235

 
27,025

 
(214,070
)
 
343,892

Income taxes
—

 
27,936

 
91,239

 
9,123

 
(26
)
 
128,272

 
 
 
 
 
 
 
 
 
 
 
 
Net income
$
215,620

 
$
46,146

 
$
149,996

 
$
17,902

 
$
(214,044
)
 
$
215,620



Condensed Consolidating Balance Sheet

As of May 31, 2012 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
58,737

 
$
229,287

 
$
51,801

 
$
—

 
$
339,825

Accounts receivable, net
—

 
327,442

 
81,243

 
42,176

 
—

 
450,861

Inventories, net
—

 
210,283

 
20,258

 
10,781

 
9,883

 
251,205

Uniforms and other rental items in service
—

 
337,298

 
101,435

 
35,051

 
(20,999
)
 
452,785

Income taxes, current
—

 
5,296

 
3,642

 
13,250

 
—

 
22,188

Prepaid expenses and other
—

 
7,905

 
12,770

 
4,029

 
—

 
24,704

Total current assets
—

 
946,961

 
448,635

 
157,088

 
(11,116
)
 
1,541,568

 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment, at cost, net
—

 
600,565

 
259,744

 
83,996

 
—

 
944,305

Goodwill
—

 
—

 
1,419,535

 
65,840

 
—

 
1,485,375

Service contracts, net
—

 
71,337

 
326

 
5,159

 
—

 
76,822

Other assets, net
1,637,225

 
1,628,516

 
2,467,198

 
759,439

 
(6,379,542
)
 
112,836

 
$
1,637,225

 
$
3,247,379

 
$
4,595,438

 
$
1,071,522

 
$
(6,390,658
)
 
$
4,160,906

 
 
 
 
 
 
 
 
 
 
 
 
 Liabilities and
Shareholders' Equity
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
(465,247
)
 
$
(475,624
)
 
$
978,932

 
$
18,760

 
$
38,019

 
$
94,840

Accrued compensation and related liabilities
—

 
63,797

 
21,619

 
5,798

 
—

 
91,214

Accrued liabilities
—

 
67,651

 
176,220

 
13,557

 
(786
)
 
256,642

Deferred tax (asset) liability
—

 
(538
)
 
(87
)
 
3,184

 
—

 
2,559

Long-term debt due within one year
—

 
225,866

 
(230
)
 
—

 
—

 
225,636

Total current liabilities
(465,247
)
 
(118,848
)
 
1,176,454

 
41,299

 
37,233

 
670,891

 
 
 
 
 
 
 
 
 
 
 
 
Long-term liabilities:
 

 
 

 
 

 
 

 
 

 
 

Long-term debt due after one year
—

 
1,068,820

 
(11,288
)
 
848

 
786

 
1,059,166

Deferred income taxes
—

 
(6
)
 
199,404

 
5,183

 
—

 
204,581

Accrued liabilities
—

 
—

 
86,406

 
727

 
—

 
87,133

Total long-term liabilities
—

 
1,068,814

 
274,522

 
6,758

 
786

 
1,350,880

Total shareholders' equity
2,102,472

 
2,297,413

 
3,144,462

 
1,023,465

 
(6,428,677
)
 
2,139,135

 
$
1,637,225

 
$
3,247,379

 
$
4,595,438

 
$
1,071,522

 
$
(6,390,658
)
 
$
4,160,906


Condensed Consolidating Balance Sheet

As of May 31, 2011 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
54,957

 
$
313,283

 
$
69,866

 
$
—

 
$
438,106

Marketable securities
—

 
—

 
—

 
87,220

 
—

 
87,220

Accounts receivable, net
—

 
312,033

 
76,484

 
40,614

 
—

 
429,131

Inventories, net
—

 
204,536

 
24,943

 
13,266

 
6,913

 
249,658

Uniforms and other rental items in service
—

 
302,897

 
82,148

 
34,895

 
(26,114
)
 
393,826

Income taxes, current
—

 
949

 
8,355

 
24,238

 
—

 
33,542

Deferred tax asset (liability)
—

 
566

 
47,905

 
(2,658
)
 
—

 
45,813

Prepaid expenses and other
—

 
5,738

 
13,732

 
4,011

 
—

 
23,481

Total current assets
—

 
881,676

 
566,850

 
271,452

 
(19,201
)
 
1,700,777

 
 
 
 
 
 
 
 
 
 
 
 
Property and equipment, at cost, net
—

 
587,701

 
274,086

 
84,431

 
—

 
946,218

Goodwill
—

 
—

 
1,416,926

 
70,956

 
—

 
1,487,882

Service contracts, net
—

 
94,379

 
663

 
7,270

 
—

 
102,312

Other assets, net
1,778,595

 
1,629,598

 
2,070,017

 
369,527

 
(5,732,986
)
 
114,751

 
$
1,778,595

 
$
3,193,354

 
$
4,328,542

 
$
803,636

 
$
(5,752,187
)
 
$
4,351,940

 
 
 
 
 
 
 
 
 
 
 
 
 Liabilities and
Shareholders' Equity
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
Accounts payable
$
(465,247
)
 
$
(329,430
)
 
$
855,739

 
$
11,198

 
$
38,019

 
$
110,279

Accrued compensation and  related liabilities
—

 
55,138

 
20,153

 
4,543

 
—

 
79,834

Accrued liabilities
—

 
61,399

 
154,861

 
27,235

 
(804
)
 
242,691

Long-term debt due within one year
—

 
855

 
480

 
—

 
—

 
1,335

Total current liabilities
(465,247
)
 
(212,038
)
 
1,031,233

 
42,976

 
37,215

 
434,139

 
 
 
 
 
 
 
 
 
 
 
 
Long-term liabilities:
 

 
 

 
 

 
 

 
 

 
 

Long-term debt due after one year
—

 
1,294,674

 
(12,433
)
 
1,745

 
804

 
1,284,790

Deferred income taxes
—

 
(7
)
 
190,701

 
5,627

 
—

 
196,321

Accrued liabilities
—

 
—

 
133,427

 
614

 
—

 
134,041

Total long-term liabilities
—

 
1,294,667

 
311,695

 
7,986

 
804

 
1,615,152

Total shareholders' equity
2,243,842

 
2,110,725

 
2,985,614

 
752,674

 
(5,790,206
)
 
2,302,649

 
$
1,778,595

 
$
3,193,354

 
$
4,328,542

 
$
803,636

 
$
(5,752,187
)
 
$
4,351,940



Condensed Consolidating Statement of Cash Flows

Year Ended May 31, 2012 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
297,637

 
$
165,559

 
$
230,677

 
$
437,579

 
$
(833,815
)
 
$
297,637

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
 
 
 
Depreciation
—

 
102,613

 
40,613

 
12,605

 
—

 
155,831

Amortization
—

 
33,114

 
393

 
4,827

 
—

 
38,334

Stock-based compensation
20,312

 
—

 
—

 
—

 
—

 
20,312

Deferred income taxes
—

 
—

 
56,411

 
316

 
—

 
56,727

Changes in current assets and liabilities, net of acquisitions of businesses:
 
 
 
 
 
 
 
 
 
 
 
Accounts receivable, net
—

 
(15,280
)
 
(4,985
)
 
(3,996
)
 
—

 
(24,261
)
Inventories, net
—

 
(5,635
)
 
4,685

 
1,590

 
(2,970
)
 
(2,330
)
Uniforms and other rental items in service
—

 
(34,401
)
 
(19,286
)
 
(1,477
)
 
(5,115
)
 
(60,279
)
Prepaid expenses
—

 
(2,154
)
 
950

 
(292
)
 
—

 
(1,496
)
Accounts payable
—

 
(143,189
)
 
661,243

 
(530,611
)
 
—

 
(12,557
)
Accrued compensation and related liabilities
—

 
8,659

 
1,466

 
1,500

 
—

 
11,625

Accrued liabilities
—

 
16,929

 
(30,586
)
 
(6,732
)
 
18

 
(20,371
)
Income taxes, current
—

 
(4,357
)
 
4,712

 
10,335

 
—

 
10,690

Net cash provided by (used in) operating activities
317,949

 
121,858

 
946,293

 
(74,356
)
 
(841,882
)
 
469,862

 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(116,954
)
 
(26,270
)
 
(17,578
)
 
—

 
(160,802
)
Proceeds from sale or redemption of marketable securities
—

 
—

 
—

 
665,016

 
—

 
665,016

Purchase of marketable securities and investments
—

 
(2,740
)
 
(416,100
)
 
(579,654
)
 
412,839

 
(585,655
)
Acquisitions of businesses, net of cash acquired
—

 
(19,323
)
 
(65
)
 
(5,476
)
 
—

 
(24,864
)
Other
141,350

 
20,090

 
(588,518
)
 
28

 
429,061

 
2,011

Net cash provided by (used in) investing activities
141,350

 
(118,927
)
 
(1,030,953
)
 
62,336

 
841,900

 
(104,294
)
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Proceeds from the issuances of debt
—

 
—

 
(786
)
 
—

 
786

 
—

Repayment of debt
—

 
(843
)
 
324

 
—

 
(804
)
 
(1,323
)
Exercise of stock-based compensation awards
3,341

 
—

 
—

 
—

 
—

 
3,341

Dividends paid
(70,800
)
 
—

 
—

 
(20
)
 
—

 
(70,820
)
Repurchase of common stock
(392,328
)
 
—

 
—

 
—

 
—

 
(392,328
)
Other
488

 
1,508

 
(574
)
 
(867
)
 
—

 
555

Net cash (used in) provided by financing activities
(459,299
)
 
665

 
(1,036
)
 
(887
)
 
(18
)
 
(460,575
)
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents
—

 
184

 
1,700

 
(5,158
)
 
—

 
(3,274
)
Net increase (decrease) in cash and cash equivalents
—

 
3,780

 
(83,996
)
 
(18,065
)
 
—

 
(98,281
)
Cash and cash equivalents at beginning of period
—

 
54,957

 
313,283

 
69,866

 
—

 
438,106

Cash and cash equivalents at end of period
$
—

 
$
58,737

 
$
229,287

 
$
51,801

 
$
—

 
$
339,825

Condensed Consolidating Statement of Cash Flows

Year Ended May 31, 2011 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
246,989

 
$
105,914

 
$
134,424

 
$
103,964

 
$
(344,302
)
 
$
246,989

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
 
 
 
Depreciation
—

 
103,039

 
36,032

 
11,815

 
—

 
150,886

Amortization
—

 
37,615

 
543

 
4,423

 
—

 
42,581

Stock-based compensation
15,203

 
—

 
—

 
—

 
—

 
15,203

Deferred income taxes
—

 
(4,886
)
 
51,996

 
798

 
—

 
47,908

Changes in current assets and liabilities, net of acquisitions of businesses:
 
 
 
 
 
 
 
 
 
 
 
Accounts receivable, net
—

 
(39,060
)
 
(2,079
)
 
(7,847
)
 
—

 
(48,986
)
Inventories, net
—

 
(59,223
)
 
(8,112
)
 
(2,957
)
 
(8,532
)
 
(78,824
)
Uniforms and other rental items in service
—

 
(45,149
)
 
(11,671
)
 
(7,179
)
 
5,819

 
(58,180
)
Prepaid expenses
—

 
223

 
2,085

 
(1,948
)
 
—

 
360

Accounts payable
—

 
(392,210
)
 
393,185

 
28,244

 
(4
)
 
29,215

Accrued compensation and related liabilities
—

 
12,957

 
(1,577
)
 
1,113

 
—

 
12,493

Accrued liabilities
—

 
(2,740
)
 
(6,318
)
 
6,875

 
16

 
(2,167
)
Income taxes, current
—

 
4,265

 
(8,858
)
 
(11,999
)
 
—

 
(16,592
)
Net cash provided by (used in) operating activities
262,192

 
(279,255
)
 
579,650

 
125,302

 
(347,003
)
 
340,886

 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(99,739
)
 
(68,274
)
 
(14,579
)
 
—

 
(182,592
)
Proceeds from redemption of marketable securities
—

 
—

 
23,206

 
115,850

 
—

 
139,056

Purchase of marketable securities and investments
—

 
(16,897
)
 
(55,438
)
 
(61,438
)
 
55,466

 
(78,307
)
Acquisitions of businesses, net of cash acquired
—

 
(133,378
)
 
(1,831
)
 
(36,343
)
 
—

 
(171,552
)
Other
253,387

 
54,296

 
(504,637
)
 
(99,797
)
 
291,553

 
(5,198
)
Net cash provided by (used in) investing activities
253,387

 
(195,718
)
 
(606,974
)
 
(96,307
)
 
347,019

 
(298,593
)
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Proceeds from the issuance of debt
—

 
1,000,500

 
1,781

 
—

 
—

 
1,002,281

Repayment of debt
—

 
(501,316
)
 
(876
)
 
—

 
(16
)
 
(502,208
)
Dividends paid
(71,801
)
 
—

 
—

 
(11
)
 
—

 
(71,812
)
Repurchase of common stock
(443,690
)
 
—

 
—

 
—

 
—

 
(443,690
)
Other
(88
)
 
(4,576
)
 
—

 
55

 
—

 
(4,609
)
Net cash (used in) provided by financing activities
(515,579
)
 
494,608

 
905

 
44

 
(16
)
 
(20,038
)
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents
—

 
417

 
—

 
4,153

 
—

 
4,570

Net increase (decrease) in cash and cash equivalents
—

 
20,052

 
(26,419
)
 
33,192

 
—

 
26,825

Cash and cash equivalents at beginning of period
—

 
34,905

 
339,702

 
36,674

 
—

 
411,281

Cash and cash equivalents at end of period
$
—

 
$
54,957

 
$
313,283

 
$
69,866

 
$
—

 
$
438,106



Condensed Consolidating Statement of Cash Flows

Year Ended May 31, 2010 (in thousands)
Cintas
Corporation
 
Corp. 2
 
Subsidiary
Guarantors
 
Non-
Guarantors
 
Eliminations
 
Cintas
Corporation
Consolidated
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from operating activities:
 
 
 
 
 
 
 
 
 
 
 
Net income
$
215,620

 
$
46,146

 
$
149,996

 
$
17,902

 
$
(214,044
)
 
$
215,620

Adjustments to reconcile net income to net cash provided by (used in) operating activities:
 
 
 
 
 
 
 
 
 
 
 
Depreciation
—

 
105,981

 
37,149

 
8,929

 
—

 
152,059

Amortization
—

 
37,723

 
879

 
2,480

 
—

 
41,082

Stock-based compensation
15,349

 
—

 
—

 
—

 
—

 
15,349

Deferred income taxes
—

 
(1,745
)
 
12,668

 
2,372

 
—

 
13,295

Changes in current assets and liabilities, net of acquisitions of businesses:
 
 
 
 
 
 
 
 
 
 
 
Accounts receivable, net
—

 
21,442

 
14,594

 
(2,512
)
 
(28,302
)
 
5,222

Inventories, net
—

 
49,396

 
(16,803
)
 
(913
)
 
(1,387
)
 
30,293

Uniforms and other rental items in service
—

 
2,379

 
5,655

 
(3,681
)
 
(189
)
 
4,164

Prepaid expenses
—

 
667

 
3,101

 
(53
)
 
—

 
3,715

Accounts payable
—

 
19,707

 
(70,957
)
 
43,498

 
16,691

 
8,939

Accrued compensation and related liabilities
—

 
10,022

 
7,435

 
936

 
—

 
18,393

Accrued liabilities
—

 
2,489

 
45,418

 
(417
)
 
38

 
47,528

Income taxes, current
—

 
(2,134
)
 
16,455

 
(4,326
)
 
—

 
9,995

Net cash provided by (used in) operating activities
230,969

 
292,073

 
205,590

 
64,215

 
(227,193
)
 
565,654

 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from investing activities:
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
(62,236
)
 
(42,422
)
 
(6,420
)
 
—

 
(111,078
)
Proceeds from sale or redemption of marketable securities
—

 
—

 
8,361

 
26,351

 
—

 
34,712

Purchase of marketable securities and investments
—

 
(24,826
)
 
161,621

 
(34,137
)
 
(183,927
)
 
(81,269
)
Acquisitions of businesses, net of cash acquired
—

 
(25,686
)
 
—

 
(24,758
)
 
—

 
(50,444
)
Other
(156,082
)
 
(184,047
)
 
(34,494
)
 
84

 
375,036

 
497

Net cash (used in) provided by investing activities
(156,082
)
 
(296,795
)
 
93,066

 
(38,880
)
 
191,109

 
(207,582
)
 
 
 
 
 
 
 
 
 
 
 
 
Cash flows from financing activities:
 
 
 
 
 
 
 
 
 
 
 
Repayment of debt
—

 
(754
)
 
(35,933
)
 
—

 
36,084

 
(603
)
Dividends paid
(73,950
)
 
—

 
—

 
(10
)
 
—

 
(73,960
)
Repurchase of common stock
(969
)
 
—

 
—

 
—

 
—

 
(969
)
Other
32

 
767

 
—

 
(1,776
)
 
—

 
(977
)
Net cash (used in) provided by financing activities
(74,887
)
 
13

 
(35,933
)
 
(1,786
)
 
36,084

 
(76,509
)
 
 
 
 
 
 
 
 
 
 
 
 
Effect of exchange rate changes on cash and cash equivalents
—

 
217

 
—

 
(244
)
 
—

 
(27
)
Net (decrease) increase in cash and cash equivalents
—

 
(4,492
)
 
262,723

 
23,305

 
—

 
281,536

Cash and cash equivalents at beginning of period
—

 
39,397

 
76,979

 
13,369

 
—

 
129,745

Cash and cash equivalents at end of period
$
—

 
$
34,905

 
$
339,702

 
$
36,674

 
$
—

 
$
411,281