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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Nov. 30, 2017
Nov. 30, 2016
Nov. 30, 2017
Nov. 30, 2016
Operating activities:        
Net earnings $ 41,622 $ 49,867 $ 89,696 $ 118,403
Adjustments to reconcile net earnings to net cash provided by operating activities:        
Depreciation and amortization 26,283 21,645 51,648 43,476
Impairment of goodwill and long-lived assets 8,289   8,289  
Provision for (benefit from) deferred income taxes (583) 2,316 7,351 2,336
Bad debt (income) expense 41 232 (21) 151
Equity in net income of unconsolidated affiliates, net of distributions 2,952 (2,824) (4,803) 1,074
Net (gain) loss on assets (10,680) (2,912) (9,255) 1,484
Stock-based compensation 3,787 3,824 7,194 6,960
Changes in assets and liabilities, net of impact of acquisitions :        
Receivables (46,097) (7,156) 16,581 9,798
Inventories 9,871 31,875 (24,825) (18,523)
Prepaid expenses and other current assets 3,622 (1,737) 4,765 5,425
Other assets (626) 1,165 (976) 2,411
Accounts payable and accrued expenses (21,577) (65,946) (48,368) (22,885)
Other liabilities 2,478 950 5,461 2,094
Net cash provided by operating activities 19,382 31,299 102,737 152,204
Investing activities:        
Investment in property, plant and equipment (23,678) (14,730) (41,691) (31,046)
Acquisitions, net of cash acquired (523)   (285,028)  
Proceeds from sale of assets 16,312 799 16,739 956
Net cash used by investing activities (7,889) (13,931) (309,980) (30,090)
Financing activities:        
Net proceeds from (repayments of) short-term borrowings 302 (1,037) 600 (2,154)
Proceeds from long-term debt, net of issuance costs (594)   197,685  
Principal payments on long-term debt (220) (218) (439) (437)
Proceeds from issuance of common shares, net of tax withholdings (722) (2,849) (3,996) 2,972
Payments to noncontrolling interests (3,196) (6,781) (3,916) (6,781)
Repurchase of common shares (67,448)   (112,524)  
Dividends paid (13,256) (12,828) (26,034) (24,722)
Net cash provided (used) by financing activities (85,134) (23,713) 51,376 (31,122)
Increase (decrease) in cash and cash equivalents (73,641) (6,345) (155,867) 90,992
Cash and cash equivalents at beginning of period 195,855 181,525 278,081 84,188
Cash and cash equivalents at end of period $ 122,214 $ 175,180 $ 122,214 $ 175,180