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v3.22.2

Significant Accounting Policies (Tables) | 12 Months Ended
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May 31, 2022
Accounting Policies [Abstract] |
Inventory | Inventory is comprised of the following amounts at May 31:
(In thousands) | 2022 |  | 2021
Raw materials | $ | 19,071 |  |  | $ | 15,109 |
Work in process | 34,280 |  |  | 37,664 |
Finished goods | 418,799 |  |  | 429,024 |
| $ | 472,150 |  |  | $ | 481,797 |
Property and Equipment Estimated Useful Lives | Depreciation is calculated using the straight-line method primarily over the following estimated useful lives of the assets based on industry and Cintas specific experience:
| Years
Buildings | 30 to 40
Building improvements | 5 to 20
Equipment | 3 to 10
Leasehold improvements | 2 to 15
Cintas' property and equipment is summarized as follows at May 31:
(In thousands) | 2022 |  | 2021
Land | $ | 191,878 |  |  | $ | 190,711 |
Buildings and improvements | 699,430 |  |  | 698,094 |
Equipment | 2,548,796 |  |  | 2,409,785 |
Leasehold improvements | 43,426 |  |  | 38,320 |
Construction in progress | 52,062 |  |  | 36,749 |
| 3,535,592 |  |  | 3,373,659 |
Accumulated depreciation | (2,211,919) |  |  | (2,055,221) |
Property and equipment, net | $ | 1,323,673 |  |  | $ | 1,318,438 |
Current Accrued Liabilities | Current accrued liabilities consist of the following at May 31:
(In thousands) | 2022 |  | 2021
Insurance reserve | 163,958 |  |  | $ | 156,447 |
Employee benefit related liabilities | 146,237 |  |  | 129,348 |
Dividends | 97,525 |  |  | 79,135 |
Accrued interest | 15,448 |  |  | 24,420 |
Other | 165,780 |  |  | 129,560 |
| $ | 588,948 |  |  | $ | 518,910 |

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