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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended
Aug. 31, 2017
Aug. 31, 2016
Operating activities:    
Net earnings $ 48,074 $ 68,536
Adjustments to reconcile net earnings to net cash provided by operating activities:    
Depreciation and amortization 25,365 21,831
Provision for deferred income taxes 7,934 20
Bad debt income (62) (81)
Equity in net income of unconsolidated affiliates, net of distributions (7,755) 3,898
Net loss on assets 1,425 4,396
Stock-based compensation 3,407 3,136
Changes in assets and liabilities, net of impact of acquisitions :    
Receivables 62,678 16,954
Inventories (34,696) (50,398)
Prepaid expenses and other current assets 1,143 7,162
Other assets (350) 1,246
Accounts payable and accrued expenses (26,791) 43,061
Other liabilities 2,983 1,144
Net cash provided by operating activities 83,355 120,905
Investing activities:    
Investment in property, plant and equipment (18,013) (16,316)
Acquisitions, net of cash acquired (284,505)  
Proceeds from sale of assets 427 157
Net cash used by investing activities (302,091) (16,159)
Financing activities:    
Net proceeds from (repayments of) short-term borrowings 298 (1,117)
Proceeds from long-term debt, net of issuance costs 198,279  
Principal payments on long-term debt (219) (219)
Proceeds from issuance of common shares, net of tax withholdings (3,274) 5,821
Payments to noncontrolling interests (720)  
Repurchase of common shares (45,076)  
Dividends paid (12,778) (11,894)
Net cash provided (used) by financing activities 136,510 (7,409)
Increase (decrease) in cash and cash equivalents (82,226) 97,337
Cash and cash equivalents at beginning of period 278,081 84,188
Cash and cash equivalents at end of period $ 195,855 $ 181,525