| Financial Information |
The following table presents summarized information regarding the financial position of our unconsolidated affiliates accounted for using the equity method as of May 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
WAVE |
|
|
|
|
|
Current assets |
$ |
119,776 |
|
|
$ |
102,692 |
|
Noncurrent assets |
|
90,546 |
|
|
|
86,660 |
|
Current liabilities |
|
27,204 |
|
|
|
24,566 |
|
Noncurrent liabilities |
|
387,302 |
|
|
|
385,541 |
|
Equity (Deficit) |
|
(204,184 |
) |
|
|
(220,755 |
) |
|
|
|
|
|
|
|
ClarkDietrich |
|
|
|
|
|
Current assets |
$ |
377,854 |
|
|
$ |
404,832 |
|
Noncurrent assets |
|
192,636 |
|
|
|
167,873 |
|
Current liabilities |
|
165,484 |
|
|
|
183,893 |
|
Noncurrent liabilities |
|
39,963 |
|
|
|
43,345 |
|
Equity |
|
365,042 |
|
|
|
345,466 |
|
|
|
|
|
|
|
Other |
|
|
|
|
|
Current assets |
$ |
110,518 |
|
|
$ |
133,682 |
|
Noncurrent assets |
|
102,097 |
|
|
|
105,728 |
|
Current liabilities |
|
52,147 |
|
|
|
69,954 |
|
Noncurrent liabilities |
|
65,593 |
|
|
|
67,529 |
|
Equity |
|
94,875 |
|
|
|
101,928 |
|
The following tables presents summarized financial information for our unconsolidated affiliates for the fiscal years ended May 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
WAVE |
|
|
|
|
|
|
|
|
Net sales |
$ |
496,355 |
|
|
$ |
479,153 |
|
|
$ |
447,369 |
|
Gross profit |
|
300,881 |
|
|
|
286,228 |
|
|
|
242,257 |
|
Operating income |
|
238,139 |
|
|
|
225,202 |
|
|
|
184,882 |
|
Depreciation and amortization |
|
5,436 |
|
|
|
4,926 |
|
|
|
4,679 |
|
Interest expense, net |
|
16,821 |
|
|
|
17,288 |
|
|
|
13,024 |
|
Income tax expense |
|
341 |
|
|
|
267 |
|
|
|
222 |
|
Net earnings |
|
221,487 |
|
|
|
205,976 |
|
|
|
171,687 |
|
|
|
|
|
|
|
|
|
|
ClarkDietrich |
|
|
|
|
|
|
|
|
Net sales |
$ |
1,167,689 |
|
|
$ |
1,308,517 |
|
|
$ |
1,451,665 |
|
Gross profit |
|
243,556 |
|
|
|
326,616 |
|
|
|
403,569 |
|
Operating income |
|
157,375 |
|
|
|
236,575 |
|
|
|
318,914 |
|
Depreciation and amortization |
|
16,002 |
|
|
|
15,075 |
|
|
|
13,717 |
|
Interest expense (income), net |
|
(93 |
) |
|
|
171 |
|
|
|
524 |
|
Income tax expense |
|
1,265 |
|
|
|
2,250 |
|
|
|
1,924 |
|
Net earnings |
|
163,182 |
|
|
|
239,309 |
|
|
|
321,977 |
|
|
|
|
|
|
|
|
|
|
Other |
|
|
|
|
|
|
|
|
Net sales |
$ |
329,651 |
|
|
$ |
317,185 |
|
|
$ |
417,037 |
|
Gross profit |
|
24,745 |
|
|
|
36,648 |
|
|
|
26,217 |
|
Operating income (loss) |
|
(6,249 |
) |
|
|
26,881 |
|
|
|
12,418 |
|
Depreciation and amortization |
|
9,902 |
|
|
|
8,974 |
|
|
|
11,830 |
|
Interest expense, net |
|
1,041 |
|
|
|
2,417 |
|
|
|
2,641 |
|
Income tax expense |
|
132 |
|
|
|
744 |
|
|
|
1,861 |
|
Net earnings (loss) |
|
(5,539 |
) |
|
|
22,952 |
|
|
|
7,390 |
|
|