Debt, Derivatives and Hedging Activities (Tables)

6 Months Ended

Nov. 30, 2020

Debt Disclosure [Abstract]

Summary of Outstanding Debt

Cintas' outstanding debt is summarized as follows:

(In thousands)	Interest Rate		Fiscal Year Issued	Fiscal Year Maturity	November 30, 2020		May 31, 2020
Debt due within one year
Senior notes	4.30	%	2012	2022	$	250,000	$	—
Debt issuance costs					(128)		—
Total debt due within one year					$	249,872	$	—
Debt due after one year
Senior notes	4.30	%	2012	2022	$	—	$	250,000
Senior notes	2.90	%	2017	2022	650,000		650,000
Senior notes	3.25	%	2013	2023	300,000		300,000
Senior notes (1)	2.78	%	2013	2023	51,032		51,250
Senior notes (2)	3.11	%	2015	2025	51,469		51,637
Senior notes	3.70	%	2017	2027	1,000,000		1,000,000
Senior notes	6.15	%	2007	2037	250,000		250,000
Debt issuance costs					(11,569)		(13,182)
Total debt due after one year					$	2,290,932	$	2,539,705

(1)  Cintas assumed these senior notes with the acquisition of G&K Services, Inc. (G&K) in the fourth quarter of fiscal 2017, and they were recorded at fair value. The interest rate shown above is the effective interest rate. The principal amount of these notes is $50.0 million with a stated interest rate of 3.73%.

(2)    Cintas assumed these senior notes with the acquisition of G&K in the fourth quarter of fiscal 2017, and they were recorded at fair value. The interest rate shown above is the effective interest rate. The principal amount of these notes is $50.0 million with a stated interest rate of 3.88%.