v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
May 31, 2026
May 31, 2025
May 31, 2024
Cash flows from operating activities:      
Net income $ 1,999,968 $ 1,812,281 $ 1,571,592
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 318,637 303,377 280,866
Amortization of intangible assets and capitalized contract costs 194,209 190,806 176,004
Stock-based compensation 128,076 128,329 116,986
Gain on sale of property and equipment 0 (19,341) 0
Deferred income taxes 58,092 (5,807) (28,912)
Change in current assets and liabilities, net of acquisitions of businesses:      
Accounts receivable, net (135,216) (174,141) (91,399)
Inventories, net 2,273 (33,947) 95,766
Uniforms and other rental items in service (137,612) (93,646) (22,815)
Prepaid expenses and other current assets and capitalized contract costs (174,033) (180,840) (143,441)
Accounts payable (24,102) 143,973 36,896
Accrued compensation and related liabilities 7,185 17,769 (27,013)
Accrued liabilities and other (371) 92,397 97,750
Income taxes, current 39,174 (15,305) 6,220
Net cash provided by operating activities 2,276,280 2,165,905 2,068,500
Cash flows from investing activities:      
Capital expenditures (395,105) (408,884) (409,469)
Purchases of investments (8,252) (7,196) (7,546)
Proceeds from sale of property and equipment 0 23,972 0
Acquisitions of businesses, net of cash acquired (164,548) (232,899) (186,837)
Other, net (523) 1,369 518
Net cash used in investing activities (568,428) (623,638) (603,334)
Cash flows from financing activities:      
Proceeds from issuance of debt 0 398,088 0
Debt issuance costs (7,277) (1,165) 0
Repayment of debt 0 (450,000) (13,450)
Proceeds from exercise of stock-based compensation awards 3,808 896 1,370
Dividends paid (701,485) (611,627) (530,909)
Repurchase of common stock (952,104) (934,800) (700,033)
Other, net (25,014) (20,403) (4,484)
Net cash used in financing activities (1,682,072) (1,619,011) (1,247,506)
Effect of exchange rate changes on cash and cash equivalents (735) (1,298) 206
Net increase (decrease) in cash and cash equivalents 25,045 (78,042) 217,866
Cash and cash equivalents at beginning of year 263,973 342,015 124,149
Cash and cash equivalents at end of year $ 289,018 $ 263,973 $ 342,015