Debt, Derivatives and Hedging Activities (Tables)

3 Months Ended

Aug. 31, 2024

Debt Disclosure [Abstract]

Schedule of Outstanding Debt

Cintas' outstanding debt is summarized as follows:

(In thousands)	Interest  Rate			Fiscal Year Issued	Fiscal Year Maturity	August 31, 2024		May 31, 2024
Debt due within one year
Commercial paper	5.44	%	(1)	2025	2025	$	166,000	$	—
Senior notes (2)	3.11	%		2015	2025	50,210		50,294
Senior notes	3.45	%		2022	2025	400,000		400,000
Debt issuance costs						(508)		(699)
Total debt due within one year						$	615,702	$	449,595
Debt due after one year
Senior notes	3.70	%		2017	2027	$	1,000,000	$	1,000,000
Senior notes	4.00	%		2022	2032	800,000		800,000
Senior notes	6.15	%		2007	2037	236,550		236,550
Debt issuance costs						(10,102)		(10,616)
Total debt due after one year						$	2,026,448	$	2,025,934

(1)Variable rate debt instrument. The rate presented is the variable borrowing rate at August 31, 2024.

(2)Cintas assumed these senior notes with the acquisition of G&K Services, Inc. (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 until repayment in fiscal 2025.

Schedule of Interest Rate Lock Agreements

The fair values of the outstanding interest rate locks, for forecasted debt issuances, are summarized as follows:

	August 31, 2024			May 31, 2024
Fiscal Year of Issuance (In thousands)		Other assets, net		Other assets, net
2022		$	50,692	$	56,717
2020		$	30,773	$	38,112