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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2025
May 31, 2024
May 31, 2023
Cash flows from operating activities:      
Net income $ 1,812,281 $ 1,571,592 $ 1,348,010
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 303,377 280,866 267,223
Amortization of intangible assets and capitalized contract costs 190,806 176,004 152,121
Stock-based compensation 128,329 116,986 103,621
Gain on sale of property and equipment (19,341) 0 0
Deferred income taxes (5,807) (28,912) 23,233
Change in current assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net (174,141) (91,399) (151,771)
Inventories, net (33,947) 95,766 (35,658)
Uniforms and other rental items in service (93,646) (22,815) (98,252)
Prepaid expenses and other current assets and capitalized contract costs (180,840) (143,441) (153,941)
Accounts payable 143,973 36,896 53,369
Accrued compensation and related liabilities 17,769 (27,013) 2,711
Accrued liabilities and other 92,397 97,750 41,314
Income taxes, current (15,305) 6,220 34,248
Net cash provided by operating activities 2,165,905 2,068,500 1,586,228
Cash flows from investing activities:      
Capital expenditures (408,884) (409,469) (331,109)
Purchases of investments (7,196) (7,546) (4,566)
Proceeds from sale of property and equipment 23,972 0 0
Acquisitions of businesses, net of cash acquired (232,899) (186,837) (46,357)
Other, net 1,369 518 420
Net cash used in investing activities (623,638) (603,334) (381,612)
Cash flows from financing activities:      
Payments of commercial paper, net 0 0 (261,200)
Proceeds from issuance of debt 398,088 0 0
Debt issuance costs (1,165) 0 0
Repayment of debt (450,000) (13,450) (50,000)
Proceeds from exercise of stock-based compensation awards 896 1,370 3,021
Dividends paid (611,627) (530,909) (449,917)
Repurchase of common stock (934,800) (700,033) (398,865)
Other, net (20,403) (4,484) (9,791)
Net cash used in financing activities (1,619,011) (1,247,506) (1,166,752)
Effect of exchange rate changes on cash and cash equivalents (1,298) 206 (4,186)
Net (decrease) increase in cash and cash equivalents (78,042) 217,866 33,678
Cash and cash equivalents at beginning of year 342,015 124,149 90,471
Cash and cash equivalents at end of year $ 263,973 $ 342,015 $ 124,149