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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2016
May 31, 2015
May 31, 2014
Cash flows from operating activities:      
Net income $ 693,520 $ 430,618 $ 374,442
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 149,691 140,624 168,220
Amortization of intangible assets 15,588 14,458 22,642
Stock-based compensation 79,293 47,002 29,875
Gain on Storage transactions (15,786) (38,573) 0
Loss (gain) on Shred-it 24,288 3,851 (108,441)
Gain on sale of stock of an equity method investment 0 (21,739) 0
Shredding Transaction asset impairment charge 0 0 16,143
Shredding Transaction costs 0 0 26,057
Deferred income taxes (59,302) 20,866 47,109
Change in current assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net (52,762) (1,443) (56,231)
Inventories, net (17,917) 23,785 (11,062)
Uniforms and other rental items in service (6,306) (31,994) (11,435)
Prepaid expenses and other current assets (965) (3,202) (2,177)
Accounts payable (564) (33,445) 30,446
Accrued compensation and related liabilities 13,512 3,234 10,931
Accrued liabilities and other 22,714 33,066 54,237
Income taxes, current (800) (6,832) 15,213
Net cash provided by operating activities 465,845 580,276 605,969
Cash flows from investing activities:      
Capital expenditures (275,385) (217,720) (145,580)
Proceeds from redemption of marketable securities 434,179 161,938 54,196
Purchase of marketable securities and investments (494,146) (195,471) (63,858)
Proceeds from Storage transactions, net of cash contributed 35,338 158,428 0
Proceeds from Shredding transactions, net of cash contributed 580,837 3,344 179,359
Proceeds from sale of stock of an equity method investment 0 29,933 0
Dividends received on equity method investment 0 5,247 0
Acquisitions of businesses, net of cash acquired (156,579) (15,495) (33,441)
Other 4,137 1,383 (5,219)
Net cash provided by (used in) investing activities 128,381 44,987 (14,543)
Cash flows from financing activities:      
Repayment of debt (16) (518) (8,187)
Proceeds from exercise of stock-based compensation awards 28,226 40,230 41,902
Dividends paid (115,273) (201,891) (93,320)
Repurchase of common stock (780,151) (551,970) (370,599)
Other 490 1,589 469
Net cash used in financing activities (866,724) (712,560) (429,735)
Effect of exchange rate changes on cash and cash equivalents (5,218) (8,918) (676)
Net (decrease) increase in cash and cash equivalents (277,716) (96,215) 161,015
Cash and cash equivalents at beginning of year 417,073 513,288 352,273
Cash and cash equivalents at end of year 139,357 417,073 513,288
Shred-it Partnership      
Adjustments to reconcile net income to net cash provided by operating activities:      
Gain on Storage transactions (4,300)    
Gain on sale of stock of an equity method investment (378,359) 0 0
Shredding Transaction asset impairment charge     16,100
Cash flows from investing activities:      
Proceeds from Shredding transactions, net of cash contributed 578,300    
Dividends received on equity method investment $ 0 $ 113,400 $ 0