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Investments in Unconsolidated Affiliates (Tables) | 6 Months Ended
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Nov. 30, 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:
| November 30, |  |  | May 31, |
(In thousands) | 2023 |  |  | 2023 |
Cash and cash equivalents | $ | 37,728 |  |  | $ | 49,185 |
Other current assets |  | 871,945 |  |  |  | 899,913 |
Noncurrent assets |  | 372,258 |  |  |  | 394,468 |
Total assets | $ | 1,281,931 |  |  | $ | 1,343,566 |
Current liabilities |  | 282,320 |  |  |  | 247,796 |
Current maturities of long-term debt |  | - |  |  |  | 36,936 |
Long-term debt |  | 349,323 |  |  |  | 349,215 |
Other noncurrent liabilities |  | 138,566 |  |  |  | 144,649 |
Equity |  | 511,722 |  |  |  | 564,970 |
Total liabilities and equity | $ | 1,281,931 |  |  | $ | 1,343,566 |
| Three Months Ended |  | Six Months Ended |
| November 30, |  | November 30, |
(In thousands) | 2023 |  |  | 2022 |  | 2023 |  |  | 2022 |
Net sales | $ | 676,875 |  |  | $ | 711,665 |  | $ | 1,397,308 |  |  | $ | 1,535,607 |
Gross margin |  | 166,939 |  |  |  | 147,299 |  |  | 361,247 |  |  |  | 328,704 |
Operating income |  | 134,120 |  |  |  | 107,356 |  |  | 283,529 |  |  |  | 245,183 |
Depreciation and amortization |  | 8,303 |  |  |  | 6,864 |  |  | 16,946 |  |  |  | 15,052 |
Interest expense |  | 4,538 |  |  |  | 3,910 |  |  | 10,277 |  |  |  | 6,590 |
Income tax expense |  | 6,708 |  |  |  | 1,262 |  |  | 8,354 |  |  |  | 3,372 |
Net earnings |  | 122,670 |  |  |  | 105,183 |  |  | 266,236 |  |  |  | 238,421 |

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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://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3 + Details
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