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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2020
May 31, 2019
May 31, 2018
Cash flows from operating activities:      
Net income $ 876,037 $ 884,981 $ 842,586
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 235,905 223,631 215,476
Amortization of intangible assets and capitalized contract costs 143,148 136,462 63,940
Stock-based compensation 115,435 139,210 112,835
Long-lived asset impairment 9,220 0 0
Gain on sale of a cost method investment 0 (69,373) 0
Gain on sale of business 0 (3,200) (96,400)
Deferred income taxes (16,252) 31,708 (119,295)
Change in current assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net 39,681 (94,918) (66,267)
Inventories, net (74,773) (60,039) (3,323)
Uniforms and other rental items in service 12,773 (90,228) (64,299)
Prepaid expenses and other current assets and capitalized contract costs (110,248) (100,765) (15,526)
Accounts payable 2,629 12,276 35,275
Accrued compensation and related liabilities (26,476) 15,321 (9,392)
Accrued liabilities and other 49,906 30,910 42,468
Income taxes, current 34,498 11,886 26,082
Net cash provided by operating activities 1,291,483 1,067,862 964,160
Cash flows from investing activities:      
Capital expenditures (230,289) (276,719) (271,699)
Proceeds from redemption of marketable securities and investments 0 0 179,857
Purchase of marketable securities and investments (10,031) (17,841) (153,708)
Proceeds from sale of assets 13,300 0 0
Proceeds from sale of a cost method investment 0 73,342 0
Proceeds from sale of business 0 3,200 127,835
Acquisitions of businesses, net of cash acquired (53,720) (9,813) (19,346)
Other, net (4,658) (7,807) 1,363
Net cash used in investing activities (285,398) (235,638) (135,698)
Cash flows from financing activities:      
(Payments) issuance of commercial paper, net (112,500) 112,500 (50,500)
Proceeds from issuance of debt 0 200,000 0
Repayment of debt (200,000) 0 (550,000)
Proceeds from exercise of stock-based compensation awards 90,519 65,371 41,848
Dividends paid (267,956) (220,764) (175,589)
Repurchase of common stock (464,518) (1,016,300) (127,319)
Other, net (752) (14,112) (2,580)
Net cash used in financing activities (955,207) (873,305) (864,140)
Effect of exchange rate changes on cash and cash equivalents (2,121) (998) 5,136
Net increase (decrease) in cash and cash equivalents 48,757 (42,079) (30,542)
Cash and cash equivalents at beginning of year 96,645 138,724 169,266
Cash and cash equivalents at end of year $ 145,402 $ 96,645 $ 138,724