v3.25.2
Leases (Tables)
12 Months Ended
May 31, 2025
Leases [Abstract]  
Summary of Lease Costs

The following represents our lease costs for the fiscal years ending May 31, 2025, 2024 and 2023:

May 31,

 

2025

 

 

2024

 

 

2023

 

(In thousands)

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

92,040

 

 

$

87,225

 

 

$

78,783

 

Variable lease expense

 

 

16,839

 

 

 

15,305

 

 

 

13,550

 

Short-term lease expense

 

 

2,458

 

 

 

2,104

 

 

 

1,960

 

Summary of Supplemental Cash Flow Disclosures

The following represents our supplemental cash flow disclosures for the fiscal years ending May 31, 2025, 2024 and 2023:

May 31,

 

2025

 

 

2024

 

 

2023

 

(In thousands)

 

 

 

 

 

 

 

 

 

Operating cash outflows from operating leases

 

$

86,632

 

 

$

81,540

 

 

$

74,251

 

Leased assets obtained in exchange for operating lease obligations

 

 

106,396

 

 

 

69,749

 

 

 

90,399

 

Summary of Supplemental Balance Sheet and Other Required Disclosures

The following represents our supplemental balance sheet and other required disclosures as of May 31, 2025 and 2024:

May 31,

 

2025

 

 

2024

 

(In thousands, except percentages)

 

 

 

 

 

 

Current portion of operating leases within other accrued liabilities

 

$

69,846

 

 

$

66,298

 

Weighted average remaining lease term for operating leases (in years)

 

 

8.6

 

 

 

7.7

 

Weighted average discount rate for operating leases

 

 

4.5

%

 

 

4.2

%

Schedule of Future Undiscounted Cash Flows and Reconciliation to Lease Liabilities

The following represents our future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities, as of May 31, 2025:

(In thousands)

 

 

 

Year ending May 31,

 

Operating Leases

 

2026

 

$

83,701

 

2027

 

 

71,900

 

2028

 

 

55,587

 

2029

 

 

42,603

 

2030

 

 

36,411

 

Thereafter

 

 

180,805

 

Total lease payments

 

$

471,007

 

Less imputed interest

 

 

83,827

 

Total present value of lease liabilities

 

$

387,180