v3.26.1
Acquisitions
 12 Months Ended
May 31, 2026
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
The purchase price paid for each acquisition has been allocated to the fair value of the assets acquired and liabilities assumed. Cintas acquired the following number of individually immaterial businesses by reportable operating segment and All Other during the fiscal years ended May 31:
20262025
Uniform Rental and Facility Services57
First Aid and Safety Services44
All Other2117
The following summarizes the aggregate purchase price and fair value allocations for all businesses acquired during the fiscal years ended May 31:
(In thousands)20262025
Fair value of tangible assets acquired$17,855 $25,649 
Fair value of service contracts acquired34,050 45,749 
Fair value of other intangibles acquired3,283 9,309 
Net goodwill recognized144,918 189,511 
Total fair value of assets acquired200,106 270,218 
Total fair value of liabilities assumed(7,496)(3,541)
Total fair value of net assets acquired, net of cash acquired192,610 266,677 
Deferred purchase price consideration (28,062)(33,778)
Total cash consideration for acquisitions, net of cash acquired$164,548 $232,899 
Goodwill was calculated as the excess of the consideration transferred over the net assets recognized and represents the estimated future economic benefits arising from other assets acquired that could not be individually identified and separately recognized. None of the goodwill is deductible for income tax purposes. The factors contributing to the recognition of goodwill were based on strategic benefits that are expected to be realized from the acquisitions.

Cintas is required to provide additional disclosures about fair value measurements as part of the consolidated financial statements for each major category of assets and liabilities measured at fair value on a nonrecurring basis (including business combinations). The working capital assets and liabilities, as well as the property and equipment acquired, were valued using Level 2 inputs which included data points that are observable, such as definitive sales agreements, appraisals or established market values of comparable assets (market approach). Goodwill and separately identifiable intangible assets were valued using Level 3 inputs, which are unobservable by nature, and included internal estimates of future cash flows (income approach). The results of operations of the acquisition are included in Cintas' consolidated statements of income subsequent to the date of acquisition and are not material to the consolidated financial statements.