| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
2025 |
|
WAVE |
|
|
|
|
|
|
Current assets |
|
$ |
118,169 |
|
|
$ |
119,776 |
|
Noncurrent assets |
|
|
82,698 |
|
|
|
90,546 |
|
Current liabilities |
|
|
27,444 |
|
|
|
27,204 |
|
Noncurrent liabilities |
|
|
381,004 |
|
|
|
387,302 |
|
Equity (deficit) |
|
|
(207,581 |
) |
|
|
(204,184 |
) |
|
|
|
|
|
|
|
|
ClarkDietrich |
|
|
|
|
|
|
Current assets |
|
$ |
386,619 |
|
|
$ |
377,854 |
|
Noncurrent assets |
|
|
203,011 |
|
|
|
192,636 |
|
Current liabilities |
|
|
181,165 |
|
|
|
165,484 |
|
Noncurrent liabilities |
|
|
36,374 |
|
|
|
39,963 |
|
Equity |
|
|
372,091 |
|
|
|
365,042 |
|
|
|
|
|
|
|
|
Other |
|
|
|
|
|
|
Current assets |
|
$ |
96,667 |
|
|
$ |
110,518 |
|
Noncurrent assets |
|
|
87,527 |
|
|
|
102,097 |
|
Current liabilities |
|
|
61,166 |
|
|
|
52,147 |
|
Noncurrent liabilities |
|
|
66,023 |
|
|
|
65,593 |
|
Equity |
|
|
57,005 |
|
|
|
94,875 |
|
The following table presents summarized financial information for our unconsolidated affiliates for the fiscal years ended May 31:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2026 |
|
|
2025 |
|
|
2024 |
|
WAVE |
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
518,903 |
|
|
$ |
496,355 |
|
|
$ |
479,153 |
|
Gross profit |
|
|
314,291 |
|
|
|
300,881 |
|
|
|
286,228 |
|
Operating income |
|
|
250,608 |
|
|
|
238,139 |
|
|
|
225,202 |
|
Depreciation and amortization |
|
|
5,527 |
|
|
|
5,436 |
|
|
|
4,926 |
|
Interest expense, net |
|
|
15,414 |
|
|
|
16,821 |
|
|
|
17,288 |
|
Income tax expense |
|
|
312 |
|
|
|
341 |
|
|
|
267 |
|
Net earnings |
|
|
235,584 |
|
|
|
221,487 |
|
|
|
205,976 |
|
|
|
|
|
|
|
|
|
|
|
ClarkDietrich |
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
1,160,669 |
|
|
$ |
1,167,689 |
|
|
$ |
1,308,517 |
|
Gross profit |
|
|
180,593 |
|
|
|
243,556 |
|
|
|
326,616 |
|
Operating income |
|
|
86,401 |
|
|
|
157,375 |
|
|
|
236,575 |
|
Depreciation and amortization |
|
|
19,324 |
|
|
|
16,002 |
|
|
|
15,075 |
|
Interest (income) expense, net |
|
|
(185 |
) |
|
|
(93 |
) |
|
|
171 |
|
Income tax (benefit) expense |
|
|
(104 |
) |
|
|
1,265 |
|
|
|
2,250 |
|
Net earnings |
|
|
87,506 |
|
|
|
163,182 |
|
|
|
239,309 |
|
|
|
|
|
|
|
|
|
|
|
Other |
|
|
|
|
|
|
|
|
|
Net sales |
|
$ |
280,198 |
|
|
$ |
329,651 |
|
|
$ |
317,185 |
|
Gross profit |
|
|
21,680 |
|
|
|
24,745 |
|
|
|
36,648 |
|
Operating (loss) income |
|
|
(8,404 |
) |
|
|
(6,249 |
) |
|
|
26,881 |
|
Depreciation and amortization |
|
|
8,865 |
|
|
|
9,902 |
|
|
|
8,974 |
|
Interest expense, net |
|
|
946 |
|
|
|
1,041 |
|
|
|
2,417 |
|
Income tax expense |
|
|
395 |
|
|
|
132 |
|
|
|
744 |
|
Net (loss) earnings |
|
|
(10,185 |
) |
|
|
(5,539 |
) |
|
|
22,952 |
|
|