Investments

6 Months Ended

Nov. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

Investments at November 30, 2019 of $218.9 million include the cash surrender value of insurance policies of $196.6 million, equity method investments of $19.1 million and cost method investments of $3.2 million. Investments at May 31, 2019 of $192.3 million include the cash surrender value of insurance policies of $170.5 million, equity method investments of $18.6 million and cost method investments of $3.2 million. Investments are generally evaluated for impairment on an annual basis or when indicators of impairment exist. For the three and six months ended November 30, 2019 and 2018, no impairment losses were recorded.

During the three months ended November 30, 2018, Cintas sold a cost method investment to a third party. Proceeds from the one-time sale were $73.3 million, which resulted in a pre-tax gain of $69.4 million.