v3.25.2
Consolidated Statements of Earnings - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
May 31, 2025
May 31, 2024
May 31, 2023
Income Statement [Abstract]      
Net sales $ 1,153,762 $ 1,245,703 $ 1,418,496
Cost of goods sold 834,727 960,684 1,094,908
Gross profit 319,035 285,019 323,588
Selling, general and administrative expense 268,413 283,471 287,118
Impairment of goodwill and long-lived assets 50,813 32,975 [1] 484
Restructuring and other expense (income), net 10,524 29,327 [2] (367)
Separation costs   12,705 6,534
Operating income (loss) (10,715) (73,459) 29,819
Other income (expense):      
Miscellaneous expense, net (3,222) (17,129) (4,497)
Loss on extinguishment of debt   (1,534)  
Interest expense, net (2,090) (1,587) (18,298)
Equity in net income of unconsolidated affiliates 144,836 167,716 153,262
Earnings before income taxes 128,809 74,007 160,286
Income tax expense 33,839 39,027 34,535
Net earnings from continuing operations 94,970 34,980 125,751
Net earnings from discontinued operations   82,841 143,419
Net earnings 94,970 117,821 269,170
Net earnings (loss) attributable to noncontrolling interests (1,083) 7,197 12,642
Net earnings attributable to controlling interest 96,053 110,624 256,528
Amounts attributable to controlling interest:      
Net earnings from continuing operations 96,053 35,243 125,751
Net earnings from discontinued operations   75,381 130,777
Net Income (Loss) $ 96,053 $ 110,624 $ 256,528
Earnings per share - basic:      
Continuing operations $ 1.94 $ 0.72 $ 2.59
Discontinued operations   1.53 2.69
Consolidated 1.94 2.25 5.28
Earnings per share - diluted:      
Continuing operations 1.92 0.7 2.55
Discontinued operations   1.5 2.64
Consolidated $ 1.92 $ 2.2 $ 5.19
Weighted average common shares outstanding - basic 49,395 49,195 48,566
Weighted average common shares outstanding - diluted 50,131 50,348 49,386
[1] Significant pre-tax impairment charges include $32,203 in the fourth quarter of fiscal 2024 due to the deconsolidation of our former SES operating segment.
[2] Significant pre-tax restructuring charges include a loss of $30,502 in the fourth quarter of fiscal 2024 due to the deconsolidation of our former Sustainable Energy Solutions operating segment during the fourth quarter of fiscal 2024.