Investments

12 Months Ended

May 31, 2021

Investments [Abstract]

Investments

Investments

At May 31, 2021, investments were $274.6 million and include the cash surrender value of insurance policies of $252.1 million, equity method investments of $19.4 million and cost method investments of $3.1 million. At May 31, 2020, investments were $214.8 million and include the cash surrender value of insurance policies of $192.7 million, equity method investments of $19.0 million and cost method investments of $3.1 million. Investments are evaluated for impairment on an annual basis or when indicators of impairment exist. For fiscal years 2021, 2020 and 2019, no impairment losses were recorded.

During fiscal 2019, Cintas sold a cost method investment to a third party. Proceeds from the sale were $73.3 million, which resulted in a pre-tax gain of $69.4 million.