Investments in Unconsolidated Affiliates (Tables)

3 Months Ended

Aug. 31, 2017

Unconsolidated Affiliates

Financial Information

Combined financial information for our unconsolidated affiliates is summarized as follows:

(in thousands)	August 31, 2017		May 31, 2017
Cash	$	40,943	$	55,541
Other current assets		591,345		559,021
Noncurrent assets		366,877		361,106
Total assets	$	999,165	$	975,668
Current liabilities	$	157,932	$	156,947
Short-term borrowings		11,063		8,172
Current maturities of long-term debt		4,367		5,827
Long-term debt		268,867		268,711
Other noncurrent liabilities		24,816		21,380
Equity		532,120		514,631
Total liabilities and equity	$	999,165	$	975,668
	Three Months Ended August 31,
(in thousands)	2017		2016
Net sales	$	442,624	$	417,115
Gross margin		86,235		124,197
Operating income		57,163		94,397
Depreciation and amortization		7,193		6,820
Interest expense		2,492		2,148
Income tax expense		1,348		7,518
Net earnings		52,474		86,067