Supplemental Guarantor Information (Tables)

3 Months Ended

Aug. 31, 2015

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Income Statement

Three Months Ended August 31, 2015

(In thousands)



	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Revenue:
Uniform rental and facility services	$	—		$	721,329		$	202,265		$	54,012		$	(39,198	)	$	938,408
Other	—			372,611			1,293			14,811			(128,233		)	260,482
Equity in net income of affiliates	106,198			—			—			—			(106,198		)	—
	106,198			1,093,940			203,558			68,823			(273,629		)	1,198,890
Costs and expenses (income):
Cost of uniform rental and facility services	—			440,580			116,832			37,357			(76,266		)	518,503
Cost of other	—			237,369			(8,643		)	9,570			(82,053		)	156,243
Selling and administrative expenses	—			347,076			(18,855		)	17,880			(7,464		)	338,637
Operating income	106,198			68,915			114,224			4,016			(107,846		)	185,507

Interest income	—			—			(48		)	(71		)	—			(119		)
Interest expense (income)	—			16,375			38			(1		)	—			16,412

Income before income taxes	106,198			52,540			114,234			4,088			(107,846		)	169,214
Income taxes	—			19,589			42,591			861			(25		)	63,016
Income from continuing operations	106,198			32,951			71,643			3,227			(107,821		)	106,198

Loss from discontinued operations, net of tax	(6,017		)	(5,323		)	—			(694		)	6,017			(6,017		)

Net income	$	100,181		$	27,628		$	71,643		$	2,533		$	(101,804	)	$	100,181

Condensed Consolidating Income Statement

Three Months Ended August 31, 2014

(In thousands)



	Cintas Corporation		Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Revenue:
Uniform rental and facility services	$	—	$	665,874		$	183,181		$	59,861		$	(35,218	)	$	873,698
Other	—		336,480			481			13,744			(122,326		)	228,379
Equity in net income of affiliates	105,905		—			—			—			(105,905		)	—
	105,905		1,002,354			183,662			73,605			(263,449		)	1,102,077
Costs and expenses (income):
Cost of uniform rental and facility services	—		408,371			110,922			40,282			(68,900		)	490,675
Cost of other	—		217,942			(10,657		)	8,957			(82,786		)	133,456
Selling and administrative expenses	—		314,002			(14,006		)	19,074			(4,612		)	314,458
Operating income	105,905		62,039			97,403			5,292			(107,151		)	163,488

Gain on sale of stock of an equity method investment	—		—			21,739			—			—			21,739

Interest income	—		(5		)	(48		)	—			—			(53		)
Interest expense	—		16,409			170			4			—			16,583

Income before income taxes	105,905		45,635			119,020			5,288			(107,151		)	168,697
Income taxes	—		16,748			44,004			2,051			(11		)	62,792
Income from continuing operations	105,905		28,887			75,016			3,237			(107,140		)	105,905

Income (loss) from discontinued operations, net of tax	4,203		4,263			—			(60		)	(4,203		)	4,203

Net income	$	110,108	$	33,150		$	75,016		$	3,177		$	(111,343	)	$	110,108

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended August 31, 2015

(In thousands)



	Cintas Corporation		Corp. 2		Subsidiary Guarantors		Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Net income	$	100,181	$	27,628	$	71,643	$	2,533		$	(101,804	)	$	100,181

Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	—		—		—		(12,013		)	—			(12,013		)
Amortization of interest rate lock agreements	—		488		—		—			—			488
Change in fair value of available-for-sale securities	—		—		—		(8		)	—			(8		)

Other comprehensive income (loss)	—		488		—		(12,021		)	—			(11,533		)

Comprehensive income (loss)	$	100,181	$	28,116	$	71,643	$	(9,488	)	$	(101,804	)	$	88,648

Condensed Consolidating Statement of Comprehensive Income

Three Months Ended August 31, 2014

(In thousands)



	Cintas Corporation		Corp. 2		Subsidiary Guarantors		Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Net income	$	110,108	$	33,150	$	75,016	$	3,177		$	(111,343	)	$	110,108

Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	—		—		—		(2,115		)	—			(2,115		)
Change in fair value of derivatives	—		—		—		17			—			17
Amortization of interest rate lock agreements	—		488		—		—			—			488

Other comprehensive income (loss)	—		488		—		(2,098		)	—			(1,610		)

Comprehensive income	$	110,108	$	33,638	$	75,016	$	1,079		$	(111,343	)	$	108,498

Condensed Consolidating Balance Sheet

As of August 31, 2015

(In thousands)



	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—		$	74,082		$	45,339		$	27,439		$	—		$	146,860
Marketable securities	—			—			—			53,354			—			53,354
Accounts receivable, net	—			392,911			106,001			32,215			—			531,127
Inventories, net	—			207,755			22,280			9,624			387			240,046
Uniforms and other rental items in service	—			402,093			118,059			35,354			(18,386		)	537,120
Assets held for sale	—			171,106			—			23,169			—			194,275
Prepaid expenses and other current assets	—			6,626			23,490			1,054			—			31,170
Total current assets	—			1,254,573			315,169			182,209			(17,999		)	1,733,952

Property and equipment, at cost, net	—			533,178			292,341			71,267			—			896,786

Investments	321,083			1,769,572			900,288			936,126			(3,803,575		)	123,494
Goodwill	—			—			1,239,155			33,460			(112		)	1,272,503
Service contracts, net	—			73,308			26			1,972			—			75,306
Other assets, net	1,082,343			17,145			2,961,709			3,467			(4,043,756		)	20,908
	$	1,403,426		$	3,647,776		$	5,708,688		$	1,228,501		$	(7,865,442	)	$	4,122,949

Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$	(465,247	)	$	(900,579	)	$	1,435,850		$	23,927		$	38,005		$	131,956
Accrued compensation and related liabilities	—			34,861			14,730			3,427			—			53,018
Accrued liabilities	—			78,561			205,269			11,015			—			294,845
Income taxes, current	—			7,042			40,759			(161		)	—			47,640
Deferred tax (asset) liability	—			(421		)	96,143			7,688			—			103,410
Deferred tax liability associated with the investment in Shred-it	—			69,100			—			9,357			—			78,457
Long-term debt due within one year	—			250,317			(317		)	—			—			250,000
Total current liabilities	(465,247		)	(461,119		)	1,792,434			55,253			38,005			959,326

Long-term liabilities:
Long-term debt due after one year	—			1,058,135			(8,725		)	590			—			1,050,000
Deferred income taxes	—			(69,104		)	229,712			(11,815		)	—			148,793
Accrued liabilities	—			—			115,362			799			—			116,161
Total long-term liabilities	—			989,031			336,349			(10,426		)	—			1,314,954
Total shareholders’ equity	1,868,673			3,119,864			3,579,905			1,183,674			(7,903,447		)	1,848,669
	$	1,403,426		$	3,647,776		$	5,708,688		$	1,228,501		$	(7,865,442	)	$	4,122,949

Condensed Consolidating Balance Sheet

As of May 31, 2015

(In thousands)



	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated
Assets
Current assets:
Cash and cash equivalents	$	—		$	74,145		$	249,203		$	93,725		$	—		$	417,073
Marketable securities	—			—			—			16,081			—			16,081
Accounts receivable, net	—			358,560			104,964			32,606			—			496,130
Inventories, net	—			193,594			21,149			8,870			2,598			226,211
Uniforms and other rental items in service	—			399,017			117,473			36,478			(18,963		)	534,005
Income taxes, current	—			1,191			(339		)	84			—			936
Assets held for sale	—			21,341			—			—			—			21,341
Prepaid expenses and other current assets	—			5,514			17,492			1,024			—			24,030
Total current assets	—			1,053,362			509,942			188,868			(16,365		)	1,735,807

Property and equipment, at cost, net	—			523,690			275,072			72,659			—			871,421

Investments	321,083			1,956,320			895,393			956,461			(3,799,565		)	329,692
Goodwill	—			—			1,180,527			15,197			(112		)	1,195,612
Service contracts, net	—			42,400			34			—			—			42,434
Other assets, net	1,154,596			12,373			2,741,950			3,572			(3,894,997		)	17,494
	$	1,475,679		$	3,588,145		$	5,602,918		$	1,236,757		$	(7,711,039	)	$	4,192,460

Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$	(465,247	)	$	(877,042	)	$	1,391,999		$	21,876		$	38,021		$	109,607
Accrued compensation and related liabilities	—			59,752			23,989			4,682			—			88,423
Accrued liabilities	—			65,022			232,500			13,137			(724		)	309,935
Deferred tax (asset) liability	—			(299		)	104,663			8,025			—			112,389
Liabilities held for sale	—			704			—			—			—			704
Long-term debt due within one year	—			293			(293		)	—			—			—
Total current liabilities	(465,247		)	(751,570		)	1,752,858			47,720			37,297			621,058

Long-term liabilities:
Long-term debt due after one year	—			1,308,452			(9,766		)	590			724			1,300,000
Deferred income taxes	—			(5		)	229,266			(2,323		)	—			226,938
Accrued liabilities	—			—			111,105			904			—			112,009
Total long-term liabilities	—			1,308,447			330,605			(829		)	724			1,638,947
Total shareholders’ equity	1,940,926			3,031,268			3,519,455			1,189,866			(7,749,060		)	1,932,455
	$	1,475,679		$	3,588,145		$	5,602,918		$	1,236,757		$	(7,711,039	)	$	4,192,460

Condensed Consolidating Statement of Cash Flows

Three Months Ended August 31, 2015

(In thousands)



	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Cash flows from operating activities:
Net income	$	100,181		$	27,628		$	71,643		$	2,533		$	(101,804	)	$	100,181
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation	—			21,427			12,340			2,398			—			36,165
Amortization of intangible assets	—			3,513			40			50			—			3,603
Stock-based compensation	23,917			—			—			—			—			23,917
Gain on sale of Storage Assets	—			(4,843		)	—			—			—			(4,843		)
Loss on investment in Shred-it Partnership	—			13,427			—			1,089			—			14,516
Deferred income taxes	—			21			5,784			(173		)	—			5,632
Changes in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	—			(19,744		)	(1,038		)	1,527			—			(19,255		)
Inventories, net	—			(8,856		)	(1,130		)	(334		)	2,211			(8,109		)
Uniforms and other rental items in service	—			(3,076		)	(586		)	(700		)	(577		)	(4,939		)
Prepaid expenses and other current assets	—			(100		)	(5,998		)	74			—			(6,024		)
Accounts payable	—			28,715			(14,970		)	1,802			(16		)	15,531
Accrued compensation and related liabilities	—			(24,891		)	(9,258		)	(1,430		)	—			(35,579		)
Accrued liabilities and other	—			(1,775		)	(22,975		)	(2,227		)	724			(26,253		)
Income taxes, current	—			8,231			40,411			(102		)	—			48,540
Net cash provided by (used in) operating activities	124,098			39,677			74,263			4,507			(99,462		)	143,083

Cash flows from investing activities:
Capital expenditures	—			(29,695		)	(29,617		)	(3,319		)	—			(62,631		)
Proceeds from redemption of marketable securities	—			—			—			152,907			—			152,907
Purchase of marketable securities and investments	—			2,215			(10,148		)	(192,097		)	4,010			(196,020		)
Proceeds from sale of Storage Assets	—			24,395			—			—			—			24,395
Acquisitions of businesses, net of cash acquired	—			(96,353		)	—			(25,081		)	—			(121,434		)
Other, net	85,656			59,519			(239,160		)	(1,270		)	96,176			921
Net cash provided by (used in) investing activities	85,656			(39,919		)	(278,925		)	(68,860		)	100,186			(201,862		)

Cash flows from financing activities:
Proceeds from issuance of debt	—			—			(55		)	55			—			—
Repayment of debt	—			(309		)	853			164			(724		)	(16		)
Exercise of stock-based compensation awards	11,844			—			—			—			—			11,844
Repurchase of common stock	(221,598		)	—			—			—			—			(221,598		)
Other, net	—			488			—			(437		)	—			51
Net cash (used in) provided by financing activities	(209,754		)	179			798			(218		)	(724		)	(209,719		)

Effect of exchange rate changes on cash and cash equivalents	—			—			—			(1,715		)	—			(1,715		)

Net decrease in cash and cash equivalents	—			(63		)	(203,864		)	(66,286		)	—			(270,213		)
Cash and cash equivalents at beginning of period	—			74,145			249,203			93,725			—			417,073
Cash and cash equivalents at end of period	$	—		$	74,082		$	45,339		$	27,439		$	—		$	146,860

Condensed Consolidating Statement of Cash Flows

Three Months Ended August 31, 2014

(In thousands)



	Cintas Corporation			Corp. 2			Subsidiary Guarantors			Non- Guarantors			Eliminations			Cintas Corporation Consolidated

Cash flows from operating activities:
Net income	$	110,108		$	33,150		$	75,016		$	3,177		$	(111,343	)	$	110,108
Adjustments to reconcile net income to net cash provided by (used in) operating activities
Depreciation	—			19,547			13,037			2,864			—			35,448
Amortization of intangible assets	—			3,773			15			418			—			4,206
Stock-based compensation	12,280			—			—			—			—			12,280
Gain on deconsolidation of Shredding	—			(6,619		)	—			—			—			(6,619		)
Gain on sale of stock of an equity method investment	—			—			(21,739		)	—			—			(21,739		)
Deferred income taxes	—			—			2,083			25			—			2,108
Changes in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	—			10,014			(3,852		)	2,060			—			8,222
Inventories, net	—			(1,045		)	2,430			(1,174		)	1,166			1,377
Uniforms and other rental items in service	—			(4,450		)	(1,673		)	(1,053		)	64			(7,112		)
Prepaid expenses and other current assets	—			200			(6,288		)	204			—			(5,884		)
Accounts payable	—			(70,520		)	71,606			(2,415		)	4			(1,325		)
Accrued compensation and related liabilities	—			(28,267		)	(10,204		)	(2,791		)	—			(41,262		)
Accrued liabilities and other	—			(31,741		)	42,084			(705		)	746			10,384
Income taxes, current	—			6,913			40,601			495			—			48,009
Net cash provided by (used in) operating activities	122,388			(69,045		)	203,116			1,105			(109,363		)	148,201

Cash flows from investing activities:
Capital expenditures	—			(22,686		)	(42,239		)	(3,125		)	—			(68,050		)
Purchase of marketable securities and investments	—			(1,721		)	(15,260		)	—			10,000			(6,981		)
Proceeds from Shredding Transaction, net of cash contributed	—			3,344			—			—			—			3,344
Proceeds from sale of stock of an equity method investment	—			—			29,933			—			—			29,933
Dividends received on equity method investment	—			—			5,247			—			—			5,247
Acquisitions of businesses, net of cash acquired	—			(2,328		)	—			—			—			(2,328		)
Other, net	(80,725		)	94,602			(114,793		)	823			100,109			16
Net cash (used in) provided by investing activities	(80,725		)	71,211			(137,112		)	(2,302		)	110,109			(38,819		)

Cash flows from financing activities:
Repayment of debt	—			(450		)	1,116			(100		)	(746		)	(180		)
Exercise of stock-based compensation awards	13,623			—			—			—			—			13,623
Repurchase of common stock	(61,439		)	—			—			—			—			(61,439		)
Other, net	6,153			488			—			157			—			6,798
Net cash (used in) provided by financing activities	(41,663		)	38			1,116			57			(746		)	(41,198		)

Effect of exchange rate changes on cash and cash equivalents	—			—			—			(19		)	—			(19		)

Net increase (decrease) in cash and cash equivalents	—			2,204			67,120			(1,159		)	—			68,165
Cash and cash equivalents at beginning of period	—			73,540			399,525			40,223			—			513,288
Cash and cash equivalents at end of period	$	—		$	75,744		$	466,645		$	39,064		$	—		$	581,453