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Basis of Presentation (Tables) | 3 Months Ended
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Aug. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Inventory | Inventory is comprised of the following amounts at:
(In thousands) | August 31, 2018 |  | May 31, 2018
Raw materials | $ | 17,220 |  |  | $ | 17,042 |
Work in process | 31,840 |  |  | 27,350 |
Finished goods | 254,710 |  |  | 235,955 |
| $ | 303,770 |  |  | $ | 280,347 |
Schedule of Impact of Adopting New Revenue Guidance |
|  |  | Impacts of Adopting ASU 2014-09 |  |
(In thousands) | May 31, 2018 |  | Capitalization of Contract Costs |  | Assets With No Alternative Use |  | June 1, 2018
ASSETS |  |  |  |  |  |  |
Accounts receivable, net | $ | 804,583 |  |  | $ | — |  |  | $ | 13,426 |  |  | $ | 818,009 |
Inventories, net | 280,347 |  |  | — |  |  | (11,265 | ) |  | 269,082 |
Prepaid expenses and other current assets | 32,383 |  |  | 63,463 |  |  | — |  |  | 95,846 |
Total current assets | 1,977,932 |  |  | 63,463 |  |  | 2,161 |  |  | 2,043,556 |
Other assets, net | 29,315 |  |  | 187,503 |  |  | — |  |  | 216,818 |
Total assets | $ | 6,958,214 |  |  | $ | 250,966 |  |  | $ | 2,161 |  |  | $ | 7,211,341 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |
Deferred income taxes | $ | 352,581 |  |  | $ | 63,389 |  |  | $ | 546 |  |  | $ | 416,516 |
Total long-term liabilities | 3,165,831 |  |  | 63,389 |  |  | 546 |  |  | 3,229,766 |
Retained earnings | 5,837,827 |  |  | 187,577 |  |  | 1,615 |  |  | 6,027,019 |
Total shareholders' equity | 3,016,526 |  |  | 187,577 |  |  | 1,615 |  |  | 3,205,718 |
Total liabilities and shareholders' equity | $ | 6,958,214 |  |  | $ | 250,966 |  |  | $ | 2,161 |  |  | $ | 7,211,341 |
The impacts of adopting ASU 2014-09 on our fiscal 2019 consolidated condensed financial statements are presented in the following tables:
| Three Months Ended August 31, 2018
Consolidated Condensed Statement of Income (In thousands) | As Reported |  | Under Historical Guidance |  | Impact of Adopting ASU 2014-09
Revenue: |  |  |  |  |
Uniform rental and facility services | $ | 1,374,938 |  |  | $ | 1,375,833 |  |  | $ | (895 | )
Other | 323,037 |  |  | 322,660 |  |  | 377 |
Total revenue | 1,697,975 |  |  | 1,698,493 |  |  | (518 | )
Costs and expenses: |  |  |  |  |
Cost of other | 176,810 |  |  | 176,404 |  |  | 406 |
Selling and administrative expenses | 504,634 |  |  | 511,674 |  |  | (7,040 | )
Operating income | 265,228 |  |  | 259,112 |  |  | 6,116 |
Income before income taxes | 241,420 |  |  | 235,304 |  |  | 6,116 |
Income taxes | 28,873 |  |  | 27,328 |  |  | 1,545 |
Income from continuing operations | 212,547 |  |  | 207,976 |  |  | 4,571 |
Net income | $ | 212,515 |  |  | $ | 207,944 |  |  | $ | 4,571 |
Diluted earnings per share | $ | 1.89 |  |  | $ | 1.85 |  |  | $ | 0.04 |
| Balance at August 31, 2018
Consolidated Condensed Balance Sheet (In thousands) | As Reported |  | Under Historical Guidance |  | Impact of Adopting ASU 2014-09
ASSETS |  |  |  |  |
Accounts receivable, net | $ | 838,192 |  |  | $ | 824,328 |  |  | $ | 13,864 |
Inventories, net | 303,770 |  |  | 315,388 |  |  | (11,618 | )
Income taxes, current | 6,878 |  |  | 6,114 |  |  | 764 |
Prepaid expenses and other current assets | 112,474 |  |  | 47,139 |  |  | 65,335 |
Total current assets | 2,104,378 |  |  | 2,036,033 |  |  | 68,345 |
Other assets, net | 221,983 |  |  | 30,321 |  |  | 191,662 |
Total assets | $ | 7,287,204 |  |  | $ | 7,027,197 |  |  | $ | 260.007 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Deferred income taxes | $ | 424,344 |  |  | $ | 358,188 |  |  | $ | 66,156 |
Total long-term liabilities | 3,262,142 |  |  | 3,195,986 |  |  | 66,156 |
Retained earnings | 6,239,535 |  |  | 6,045,684 |  |  | 193,851 |
Total shareholders' equity | 3,345,968 |  |  | 3,152,117 |  |  | 193,851 |
Total liabilities and shareholders' equity | $ | 7,287,204 |  |  | $ | 7,027,197 |  |  | $ | 260,007 |

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