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Debt, Derivatives and Hedging Activities (Tables)
6 Months Ended
Nov. 30, 2017
Debt Disclosure [Abstract]  
Summary of Debt Outstanding
Cintas' debt is summarized as follows:
(In thousands)
Interest
 Rate
 
Fiscal Year
Issued
 
Fiscal Year
Maturity
 
November 30,
2017
 
May 31,
2017
 
 
 
 
 
 
 
 
 
 
Debt due within one year
 
 
 
 
 
 
 
 
 
Senior notes
6.13
%
 
2008
 
2018
 
$
300,000

 
$
300,000

Commercial paper
1.24
%
(1) 
Various
 
Various
 

 
50,500

Current portion of term loan
2.00
%
(1) 
2017
 
2018
 

 
12,500

Debt issuance costs
 
 
 
 
 
 

 
(100
)
Total debt due within one year
 
 
 
 
 
 
$
300,000

 
$
362,900

 
 
 
 
 
 
 
 
 
 
Debt due after one year
 
 
 
 
 
 
 
 
 
Senior notes
4.30
%
 
2012
 
2022
 
$
250,000

 
$
250,000

Senior notes
2.90
%
 
2017
 
2022
 
650,000

 
650,000

Senior notes
3.25
%
 
2013
 
2023
 
300,000

 
300,000

Senior notes (2)
2.78
%
 
2013
 
2023
 
52,337

 
52,554

Senior notes (3)
3.11
%
 
2015
 
2025
 
52,476

 
52,645

Senior notes
3.70
%
 
2017
 
2027
 
1,000,000

 
1,000,000

Senior notes
6.15
%
 
2007
 
2037
 
250,000

 
250,000

Long-term portion of term loan
2.00
%
(1) 
2017
 
2022
 

 
237,500

Debt issuance costs
 
 
 
 
 
 
(20,591
)
 
(22,075
)
   Total debt due after one year
 
 
 
 
 
 
$
2,534,222

 
$
2,770,624


(1) Variable rate debt instrument. The rate presented is the variable borrowing rate at May 31, 2017.
(2) Cintas assumed these senior notes with the acquisition of G&K in the fourth quarter of fiscal 2017, and they were recorded at fair value. The interest rate shown above is the effective interest rate. The principal amount of these notes is $50.0 million with a stated interest rate of 3.73%.
(3) Cintas assumed these senior notes with the acquisition of G&K in the fourth quarter of fiscal 2017, and they were recorded at fair value. The interest rate shown above is the effective interest rate. The principal amount of these notes is $50.0 million with a stated interest rate of 3.88%.