XML 20 R8.htm IDEA: XBRL DOCUMENT v3.24.4
CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Nov. 30, 2024
Nov. 30, 2023
Cash flows from operating activities:    
Net income $ 900,528 $ 759,698
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 149,340 136,803
Amortization of intangible assets and capitalized contract costs 95,907 79,235
Stock-based compensation 65,784 53,182
Gain on sale of property and equipment (4,295) 0
Deferred income taxes 3,753 (7,105)
Change in current assets and liabilities, net of acquisitions of businesses:    
Accounts receivable, net (129,053) (120,881)
Inventories, net 18,751 32,093
Uniforms and other rental items in service (53,665) (21,649)
Prepaid expenses and other current assets and capitalized contract costs (110,105) (80,056)
Accounts payable 80,292 14,981
Accrued compensation and related liabilities (53,759) (86,725)
Accrued liabilities and other (25,770) (30,453)
Income taxes, current (29,572) 508
Net cash provided by operating activities 908,136 729,631
Cash flows from investing activities:    
Capital expenditures (194,337) (200,527)
Purchases of investments (7,092) (7,475)
Proceeds from sale of property and equipment 5,908 0
Acquisitions of businesses, net of cash acquired (154,884) (73,997)
Other, net 1,402 (196)
Net cash used in investing activities (349,003) (282,195)
Cash flows from financing activities:    
Issuance of commercial paper, net 181,000 210,000
Repayment of debt 0 (13,450)
Proceeds from exercise of stock-based compensation awards 575 929
Dividends paid (295,564) (255,839)
Repurchase of common stock (651,518) (423,128)
Other, net (11,438) (4,322)
Net cash used in financing activities (776,945) (485,810)
Effect of exchange rate changes on cash and cash equivalents (1,808) (219)
Net decrease in cash and cash equivalents (219,620) (38,593)
Cash and cash equivalents at beginning of period 342,015 124,149
Cash and cash equivalents at end of period $ 122,395 $ 85,556