XML 56 R40.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended
--- | ---
May 31, 2014
Quarterly Financial Data [Abstract] |
Summary of the results of operation for each of the quarters within the fiscal year | 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.

X
- Details
Name: | us-gaap_QuarterlyFinancialDataAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the quarterly financial data in the annual financial statements. The disclosure includes financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income (loss) before extraordinary items and cumulative effect of a change in accounting principle and earnings per share data. + References Reference 1: 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 + Details
Name: | us-gaap_ScheduleOfQuarterlyFinancialInformationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration