XML 18 R7.htm IDEA: XBRL DOCUMENT v3.6.0.2
Consolidated Condensed Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Nov. 30, 2016
Nov. 30, 2015
Cash flows from operating activities:    
Net income $ 278,468 $ 445,281
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 79,590 73,130
Amortization of intangible assets 7,460 7,764
Stock-based compensation 39,582 40,241
Gain on Storage transactions 0 (15,786)
Gain on Shred-it 25,876 349,738
Deferred income taxes (3,833) (98,423)
Change in current assets and liabilities, net of acquisitions of businesses:    
Accounts receivable, net (44,920) (39,418)
Inventories, net (14,616) (19,841)
Uniforms and other rental items in service (4,315) (10,893)
Prepaid expenses and other current assets (1,952) (2,369)
Accounts payable 15,451 19,368
Accrued compensation and related liabilities (18,936) (22,771)
Accrued liabilities and other (4,866) 1,041
Income taxes, current 484 237,451
Net cash provided by operating activities 301,721 265,037
Cash flows from investing activities:    
Capital expenditures (155,173) (121,817)
Proceeds from redemption of marketable securities 172,968 212,081
Purchase of marketable securities and investments (118,270) (271,341)
Proceeds from Storage transactions 0 35,338
Proceeds from sale of investment in Shred-it 25,876 578,257
Acquisitions of businesses, net of cash acquired (17,778) (121,237)
Other, net 332 1,987
Net cash (used in) provided by investing activities (92,045) 313,268
Cash flows from financing activities:    
Proceeds from issuance of commercial paper, net 66,000 0
Repayment of debt (250,000) (16)
Prepaid short-term debt financing fees (13,495) 0
Proceeds from exercise of stock-based compensation awards 19,225 17,444
Repurchase of common stock (19,230) (402,293)
Other, net (5,572) 646
Net cash used in financing activities (203,072) (384,219)
Effect of exchange rate changes on cash and cash equivalents (2,388) (4,374)
Net increase in cash and cash equivalents 4,216 189,712
Cash and cash equivalents at beginning of period 139,357 417,073
Cash and cash equivalents at end of period $ 143,573 $ 606,785