Discontinued Operations

3 Months Ended

Aug. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

During fiscal 2016, Cintas sold its investment in Shred-it and, as a result, the operations of Shred-it are classified as discontinued operations for all periods presented. During fiscal 2015, Cintas sold Storage and, as a result, its operations are also classified as discontinued operations for all periods presented. Shredding and Storage were previously included in the former Document Management Services reportable operating segment. In accordance with the applicable accounting guidance for the disposal of long-lived assets, the results of Shredding and Storage have been excluded from both continuing operations and operating segment results for all periods presented.

In the first quarter of fiscal 2016, Cintas recorded a net loss on the investment in Shred-it of $9.3 million and sold the remaining Storage assets classified as held for sale. In connection with the sale of Storage assets, Cintas received proceeds of $24.4 million and realized a pre-tax gain of $4.8 million.

Following is selected financial information included in net loss from discontinued operations for Shred-it and Storage:

	Three Months Ended
(In thousands)	August 31, 2016		August 31, 2015
Revenue	$	—	$	—
Income before income taxes	—		237
Gain on Storage transaction	—		4,843
Loss on Shred-it	—		(14,516		)
Income tax benefit on net loss	—		3,419
Net loss from discontinued operations	$	—	$	(6,017	)