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Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
May 31, 2017
May 31, 2016
May 31, 2015
Net sales $ 3,014,108 $ 2,819,714 $ 3,384,234
Cost of goods sold 2,478,203 2,367,121 2,920,701
Gross margin 535,905 452,593 463,533
Selling, general and administrative expense 316,373 297,402 295,920
Impairment of goodwill and long-lived assets   25,962 100,129
Restructuring and other expense 6,411 7,177 6,927
Operating income 213,121 122,052 60,557
Other income (expense):      
Miscellaneous income, net 3,764 11,267 795
Interest expense (29,796) (31,670) (35,800)
Equity in net income of unconsolidated affiliates 110,038 114,966 87,476
Earnings before income taxes [1] 297,127 216,615 113,028
Income tax expense 79,190 58,987 25,772
Net earnings 217,937 157,628 87,256
Net earnings attributable to noncontrolling interests 13,422 13,913 10,471
Net earnings attributable to controlling interest $ 204,515 $ 143,715 $ 76,785
Basic      
Average common shares outstanding 62,443 62,469 66,309
Earnings per share attributable to controlling interest $ 3.28 $ 2.30 $ 1.16
Diluted      
Average common shares outstanding 64,874 64,755 68,483
Earnings per share attributable to controlling interest $ 3.15 $ 2.22 $ 1.12
[1] Net earnings attributable to noncontrolling interests are not taxable to Worthington.