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Basis of Presentation (Tables) | 9 Months Ended
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Feb. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Schedule of Inventory | Inventory is comprised of the following amounts at:
(In thousands) | February 28, 2019 |  | May 31, 2018
Raw materials | $ | 18,628 |  |  | $ | 17,042 |
Work in process | 32,525 |  |  | 27,350 |
Finished goods | 288,652 |  |  | 235,955 |
| $ | 339,805 |  |  | $ | 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:
| Nine Months Ended February 28, 2019
Consolidated Condensed Statement of Income (In thousands) | As Reported |  | Under Historical Guidance |  | Impact of Adopting ASU 2014-09
Revenue: |  |  |  |  |
Uniform rental and facility services | $ | 4,124,038 |  |  | $ | 4,127,359 |  |  | $ | (3,321 | )
Other | 974,535 |  |  | 971,995 |  |  | 2,540 |
Total revenue | 5,098,573 |  |  | 5,099,354 |  |  | (781 | )
Costs and expenses: |  |  |  |  |
Cost of other | 537,007 |  |  | 535,364 |  |  | 1,643 |
Selling and administrative expenses | 1,472,404 |  |  | 1,493,553 |  |  | (21,149 | )
Operating income | 819,123 |  |  | 800,398 |  |  | 18,725 |
Income before income taxes | 813,499 |  |  | 794,774 |  |  | 18,725 |
Income taxes | 157,035 |  |  | 152,466 |  |  | 4,569 |
Income from continuing operations | 656,464 |  |  | 642,308 |  |  | 14,156 |
Net income | $ | 658,862 |  |  | $ | 644,706 |  |  | $ | 14,156 |
Diluted earnings per share | $ | 5.93 |  |  | $ | 5.80 |  |  | $ | 0.13 |
| Balance at February 28, 2019
Consolidated Condensed Balance Sheet (In thousands) | As Reported |  | Under Historical Guidance |  | Impact of Adopting ASU 2014-09
ASSETS |  |  |  |  |
Accounts receivable, net | $ | 878,037 |  |  | $ | 861,725 |  |  | $ | 16,312 |
Inventories, net | 339,805 |  |  | 352,714 |  |  | (12,909 | )
Income taxes, current | 42,552 |  |  | 42,855 |  |  | (303 | )
Prepaid expenses and other current assets | 108,969 |  |  | 40,616 |  |  | 68,353 |
Total current assets | 2,223,756 |  |  | 2,152,303 |  |  | 71,453 |
Other assets, net | 237,851 |  |  | 37,756 |  |  | 200,095 |
Total assets | $ | 7,433,673 |  |  | $ | 7,162,125 |  |  | $ | 271,548 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |
Long-term liabilities: |  |  |  |  |
Deferred income taxes | $ | 439,011 |  |  | $ | 370,811 |  |  | $ | 68,200 |
Total long-term liabilities | 3,259,830 |  |  | 3,191,630 |  |  | 68,200 |
Retained earnings | 6,465,121 |  |  | 6,261,773 |  |  | 203,348 |
Total shareholders' equity | 3,179,492 |  |  | 2,976,144 |  |  | 203,348 |
Total liabilities and shareholders' equity | $ | 7,433,673 |  |  | $ | 7,162,125 |  |  | $ | 271,548 |

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