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Quarterly Financial Data (Unaudited) | 12 Months Ended
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May 31, 2014
Quarterly Financial Data [Abstract] |
Quarterly Financial Data | Quarterly Financial Data (Unaudited) The following is a summary of the results of operation for each of the quarters within the fiscal years ended May 31, 2014 and 2013:
May 31, 2014 (in thousands) (1) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 1,120,343 |  |  | $ | 1,143,753 |  |  | $ | 1,130,237 |  |  | $ | 1,157,479 |
Gross margin | $ | 465,980 |  |  | $ | 476,919 |  |  | $ | 479,125 |  |  | $ | 492,362 |
Net income | $ | 77,754 |  |  | $ | 84,862 |  |  | $ | 84,602 |  |  | $ | 127,224 |
Basic earnings per share | $ | 0.63 |  |  | $ | 0.71 |  |  | $ | 0.70 |  |  | $ | 1.04 |
Diluted earnings per share | $ | 0.63 |  |  | $ | 0.70 |  |  | $ | 0.69 |  |  | $ | 1.03 |
Weighted average number of shares outstanding | 122,130 |  |  | 119,907 |  |  | 119,913 |  |  | 119,541 |
May 31, 2013 (in thousands) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 1,051,325 |  |  | $ | 1,060,386 |  |  | $ | 1,075,674 |  |  | $ | 1,129,086 |
Gross margin | $ | 445,875 |  |  | $ | 432,036 |  |  | $ | 441,941 |  |  | $ | 467,215 |
Net income | $ | 76,733 |  |  | $ | 78,027 |  |  | $ | 74,705 |  |  | $ | 85,977 |
Basic earnings per share | $ | 0.61 |  |  | $ | 0.63 |  |  | $ | 0.60 |  |  | $ | 0.69 |
Diluted earnings per share | $ | 0.60 |  |  | $ | 0.63 |  |  | $ | 0.60 |  |  | $ | 0.69 |
Weighted average number of shares outstanding | 126,110 |  |  | 124,185 |  |  | 123,120 |  |  | 122,392 |
(1) On April 30, 2014, Cintas completed its previously announced partnership transaction with the shareholders of Shred-it to combine Cintas’ document destruction business with Shred-it’s document destruction business. Under the agreement, Cintas and Shred-it each contributed its document destruction business to a newly formed partnership owned 42% by Cintas and 58% by the shareholders of Shred-it. The deconsolidation of the document destruction business negatively impacted fiscal 2014 fourth quarter revenue. In the fourth quarter of fiscal 2014, the Company realized a $106.4 million gain on deconsolidation of the shredding business. In addition, as a result of the shredding transaction, the Company recorded an asset impairment charge of $16.1 million in the fourth quarter of fiscal 2014. The Company also recorded transaction costs of $28.5 million, of which $2.2 million was recorded in the third quarter and $26.3 million was recorded in the fourth quarter. Please see Note 9 entitled Acquisitions and Deconsolidation for additional information on the transaction.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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