Investments

9 Months Ended

Feb. 29, 2020

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

Investments at February 29, 2020 of $212.8 million include the cash surrender value of insurance policies of $190.2 million, equity method investments of $19.4 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 nine months ended February 29, 2020 and February 28, 2019, no impairment losses were recorded.

During the nine months ended February 28, 2019, 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.