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Debt and Derivatives (Tables)
12 Months Ended
May 31, 2021
Debt Disclosure [Abstract]  
Summary of Outstanding Debt
Cintas' outstanding debt is summarized as follows at May 31:
(In thousands)Interest
 Rate
Fiscal Year
Issued
Fiscal Year
Maturity
20212020
Debt due within one year
Senior notes4.30%20122022$250,000 $— 
Senior notes2.90%20172022650,000 — 
Debt issuance costs(930)— 
Total debt due within one year$899,070 $— 
Debt due after one year
Senior notes4.30%20122022$— $250,000 
Senior notes2.90%20172022— 650,000 
Senior notes3.25%20132023300,000 300,000 
Senior notes (1)
2.78%2013202350,815 51,250 
Senior notes (2)
3.11%2015202551,301 51,637 
Senior notes3.70%201720271,000,000 1,000,000 
Senior notes6.15%20072037250,000 250,000 
Debt issuance costs(9,283)(13,182)
   Total debt due after one year$1,642,833 $2,539,705 
(1)    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 3.73%.
(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%.
Schedule of Interest Rate Lock Agreements
The fair values of the outstanding interest rate lock agreements is summarized as follows at May 31:
20212020
Fiscal Year of Issuance
(in thousands)
Notional
 Value
Other
assets, net
Long-term
accrued liabilities
Other
assets, net
Long-term
accrued liabilities
2020$950,000 $40,400 $— $1,546 $53,817 
2019$500,000 $— $61,657 $— $111,869