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Earnings Per Share (Tables) | 6 Months Ended
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Nov. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Computation of Basic and Diluted Earnings Per Share | The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares (in each case as adjusted to reflect the Stock Split):
| Three Months Ended |  | Six Months Ended
Basic Earnings per Share (In thousands except per share data) | November 30, 2024 |  | November 30, 2023 |  | November 30, 2024 |  | November 30, 2023
Net income | $ | 448,495 |  |  | $ | 374,613 |  |  | $ | 900,528 |  |  | $ | 759,698 |
Less: net income allocated to participating securities | 1,585 |  |  | 1,460 |  |  | 3,182 |  |  | 2,957 |
Net income available to common shareholders | $ | 446,910 |  |  | $ | 373,153 |  |  | $ | 897,346 |  |  | $ | 756,741 |
Basic weighted average common shares outstanding | 403,581 |  |  | 406,669 |  |  | 403,489 |  |  | 407,125 |
Basic earnings per share | $ | 1.11 |  |  | $ | 0.92 |  |  | $ | 2.22 |  |  | $ | 1.86 |
| Three Months Ended |  | Six Months Ended
Diluted Earnings per Share (In thousands except per share data) | November 30, 2024 |  | November 30, 2023 |  | November 30, 2024 |  | November 30, 2023
Net income | $ | 448,495 |  |  | $ | 374,613 |  |  | $ | 900,528 |  |  | $ | 759,698 |
Less: net income allocated to participating securities | 1,585 |  |  | 1,460 |  |  | 3,182 |  |  | 2,957 |
Net income available to common shareholders | $ | 446,910 |  |  | $ | 373,153 |  |  | $ | 897,346 |  |  | $ | 756,741 |
Basic weighted average common shares outstanding | 403,581 |  |  | 406,669 |  |  | 403,489 |  |  | 407,125 |
Effect of dilutive securities – employee stock options | 7,086 |  |  | 6,397 |  |  | 7,124 |  |  | 6,548 |
Diluted weighted average common shares outstanding | 410,667 |  |  | 413,066 |  |  | 410,613 |  |  | 413,673 |
Diluted earnings per share | $ | 1.09 |  |  | $ | 0.90 |  |  | $ | 2.19 |  |  | $ | 1.83 |
Schedule of Buyback Activity by Program | The following table summarizes the share buyback activity by program and period:
| Three Months Ended |  |  | Six Months Ended
| November 30, 2024 |  |  | November 30, 2024
Buyback Activity (In thousands except per share data) | Shares |  | Avg. Price per Share |  | Purchase Price |  |  | Shares |  | Avg. Price per Share |  | Purchase Price
July 27, 2021 | — |  |  | $ | — |  |  | $ | — |  |  |  | — |  |  | $ | — |  |  | $ | — |
July 26, 2022 | — |  |  | — |  |  | — |  |  |  | 2,732 |  |  | 173.40 |  |  | 473,617 |
July 23, 2024 | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | — |
| — |  |  | $ | — |  |  | $ | — |  |  |  | 2,732 |  |  | $ | 173.40 |  |  | $ | 473,617 |
Shares acquired for taxes due (1) | 174 |  |  | $ | 211.44 |  |  | $ | 36,716 |  |  |  | 918 |  |  | $ | 193.79 |  |  | $ | 177,901 |
Total repurchase of Cintas common stock |  |  |  | $ | 36,716 |  |  |  |  |  |  |  | $ | 651,518 |
| Three Months Ended |  |  | Six Months Ended
| November 30, 2023 |  |  | November 30, 2023
Buyback Activity (In thousands except per share data) | Shares |  | Avg. Price per Share |  | Purchase Price |  |  | Shares |  | Avg. Price per Share |  | Purchase Price
July 27, 2021 | 2,633 |  |  | $ | 121.64 |  |  | $ | 320,266 |  |  |  | 2,633 |  |  | $ | 121.64 |  |  | $ | 320,266 |
July 26, 2022 | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | — |
July 23, 2024 | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | — |
| 2,633 |  |  | $ | 121.64 |  |  | $ | 320,266 |  |  |  | 2,633 |  |  | $ | 121.64 |  |  | $ | 320,266 |
Shares acquired for taxes due (1) | 228 |  |  | $ | 129.69 |  |  | $ | 29,586 |  |  |  | 810 |  |  | $ | 126.89 |  |  | $ | 102,862 |
Total repurchase of Cintas common stock |  |  |  | $ | 349,852 |  |  |  |  |  |  |  | $ | 423,128 |
(1) Shares of Cintas common stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards. The following table summarizes Cintas' non-cash share buyback activity:
| Three Months Ended |  |  | Six Months Ended
| November 30, 2024 |  |  | November 30, 2024
(In thousands except per share data) | Shares |  | Avg. Price per Share |  | Non-Cash Value |  |  | Shares |  | Avg. Price per Share |  | Non-Cash Value
Non-cash transaction activity | 122 |  |  | $ | 210.76 |  |  | $ | 25,829 |  |  |  | 529 |  |  | $ | 193.79 |  |  | $ | 102,653 |
| Three Months Ended |  |  | Six Months Ended
| November 30, 2023 |  |  | November 30, 2023
| Shares |  | Avg. Price per Share |  | Non-Cash Value |  |  | Shares |  | Avg. Price per Share |  | Non-Cash Value
Non-cash transaction activity | 273 |  |  | $ | 128.69 |  |  | $ | 35,087 |  |  |  | 745 |  |  | $ | 126.71 |  |  | $ | 94,300 |

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