XML 19 R8.htm IDEA: XBRL DOCUMENT v3.23.4Close
Consolidated Condensed Statements of Cash Flows - USD ($)
$ in Thousands
6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Cash flows from operating activities:    
Net income $ 759,698 $ 675,982
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 136,803 126,561
Amortization of intangible assets and capitalized contract costs 79,235 74,693
Stock-based compensation 53,182 51,537
Deferred income taxes (7,105) 18,565
Change in current assets and liabilities, net of acquisitions of businesses:    
Accounts receivable, net (120,881) (133,897)
Inventories, net 32,093 (43,266)
Uniforms and other rental items in service (21,649) (73,475)
Prepaid expenses and other current assets and capitalized contract costs (80,056) (85,532)
Accounts payable 14,981 61,421
Accrued compensation and related liabilities (86,725) (28,212)
Accrued liabilities and other (30,453) (33,352)
Income taxes, current 508 8,124
Net cash provided by operating activities 729,631 619,149 Close
Cash flows from investing activities:    
Capital expenditures (200,527) (146,404)
Purchases of investments (7,475) (5,182)
Acquisitions of businesses, net of cash acquired (73,997) (15,457)
Other, net (196) (4,381)
Net cash used in investing activities (282,195) (171,424) Close
Cash flows from financing activities:    
Issuance of commercial paper, net 210,000 124,046
Repayment of debt (13,450) 0
Proceeds from exercise of stock-based compensation awards 929 2,125
Dividends paid (255,839) (215,017)
Repurchase of common stock (423,128) (348,682)
Other, net (4,322) (8,840)
Net cash used in financing activities (485,810) (446,368) Close
Effect of exchange rate changes on cash and cash equivalents (219) (2,029) Close
Net decrease in cash and cash equivalents (38,593) (672) Close
Cash and cash equivalents at beginning of period 124,149 90,471
Cash and cash equivalents at end of period $ 85,556 $ 89,799