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Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2024
May 31, 2023
May 31, 2022
Cash flows from operating activities:      
Net income $ 1,571,592 $ 1,348,010 $ 1,235,757
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 280,866 257,041 249,376
Amortization of intangible assets and capitalized contract costs 161,518 152,121 150,325
Stock-based compensation 116,986 103,621 109,308
Gain on equity method investment transaction 0 0 (30,151)
Net gain on sale of operating assets 0 0 (12,129)
Deferred income taxes (28,912) 23,233 52,110
Change in current assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net (91,399) (151,771) (100,392)
Inventories, net 95,766 (35,658) 16,194
Uniforms and other rental items in service (22,815) (98,252) (111,332)
Prepaid expenses and other current assets and capitalized contract costs (117,674) (132,173) (28,581)
Accounts payable 36,896 53,369 22,697
Accrued compensation and related liabilities (27,013) 2,711 (3,625)
Accrued liabilities and other 97,750 41,314 (9,241)
Income taxes, current 6,220 34,248 (2,691)
Net cash provided by operating activities 2,079,781 1,597,814 1,537,625 Close
Cash flows from investing activities:      
Capital expenditures (409,469) (331,109) (240,672)
Purchases of investments (7,546) (4,566) (6,076)
Proceeds from sale of operating assets, net of cash disposed 0 0 15,347
Acquisitions of businesses, net of cash acquired (186,837) (46,357) (164,228)
Other, net (4,779) (6,640) (7,006)
Net cash used in investing activities (608,631) (388,672) (402,635) Close
Cash flows from financing activities:      
(Payments) issuance of commercial paper, net 0 (261,200) 261,200
Proceeds from issuance of debt 0 0 1,190,506
Repayment of debt (13,450) (50,000) (1,200,000)
Proceeds from exercise of stock-based compensation awards 1,370 3,021 117,737
Dividends paid (530,909) (449,917) (375,119)
Repurchase of common stock (700,033) (398,865) (1,525,873)
Other, net (10,468) (15,875) (6,394)
Net cash used in financing activities (1,253,490) (1,172,836) (1,537,943) Close
Effect of exchange rate changes on cash and cash equivalents 206 (2,628) (216) Close
Net increase (decrease) in cash and cash equivalents 217,866 33,678 (403,169) Close
Cash and cash equivalents at beginning of year 124,149 90,471 493,640
Cash and cash equivalents at end of year $ 342,015 $ 124,149 $ 90,471