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v3.23.1

Investments in Unconsolidated Affiliates (Tables) | 9 Months Ended
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Feb. 28, 2023
Equity Method Investments and Joint Ventures [Abstract] |
Financial Information | The following tables summarize combined financial information for our unconsolidated affiliates as of the dates, and for the periods presented:
| February 28, |  |  | May 31, |
(in thousands) | 2023 |  |  | 2022 |
Cash and cash equivalents | $ | 83,482 |  |  | $ | 68,563 |
Other current assets |  | 820,978 |  |  |  | 1,148,029 |
Noncurrent assets |  | 308,512 |  |  |  | 369,608 |
Total assets | $ | 1,212,972 |  |  | $ | 1,586,200 |
Current liabilities |  | 213,496 |  |  |  | 345,097 |
Short-term borrowings |  | 10,000 |  |  |  | 5,943 |
Current maturities of long-term debt |  | 48,898 |  |  |  | 33,054 |
Long-term debt |  | 349,161 |  |  |  | 306,814 |
Other noncurrent liabilities |  | 66,538 |  |  |  | 76,437 |
Equity |  | 524,879 |  |  |  | 818,855 |
Total liabilities and equity | $ | 1,212,972 |  |  | $ | 1,586,200 |
| Three Months Ended |  | Nine Months Ended |
| February 28, |  | February 28, |
(in thousands) | 2023 |  |  | 2022 |  | 2023 |  |  | 2022 |
Net sales | $ | 626,527 |  |  | $ | 789,483 |  | $ | 2,162,134 |  |  | $ | 2,392,643 |
Gross margin |  | 150,698 |  |  |  | 187,602 |  |  | 479,402 |  |  |  | 603,778 |
Operating income |  | 107,994 |  |  |  | 144,575 |  |  | 353,177 |  |  |  | 475,341 |
Depreciation and amortization |  | 6,774 |  |  |  | 7,831 |  |  | 21,826 |  |  |  | 23,907 |
Interest expense |  | 4,607 |  |  |  | 2,661 |  |  | 11,197 |  |  |  | 7,833 |
Income tax expense (benefit) |  | (3,782 | ) |  |  | 4,478 |  |  | (410 | ) |  |  | 20,938 |
Net earnings |  | 111,135 |  |  |  | 136,346 |  |  | 349,556 |  |  |  | 449,149 |

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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