| Financial Information |
Combined financial information for our unconsolidated
affiliates is summarized as follows:
|
|
|
|
|
|
|
|
|
| (in
thousands) |
|
February 28,
2014 |
|
|
May 31,
2013 |
|
|
Cash
|
|
$ |
56,077 |
|
|
$ |
70,380 |
|
|
Receivable from partner
(1)
|
|
|
12,897 |
|
|
|
69,706 |
|
|
Other current
assets
|
|
|
437,179 |
|
|
|
518,262 |
|
|
Noncurrent
assets
|
|
|
296,033 |
|
|
|
350,681 |
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
802,186 |
|
|
$ |
1,009,029 |
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities
|
|
$ |
136,419 |
|
|
$ |
181,111 |
|
|
Short-term
borrowings
|
|
|
38,204 |
|
|
|
21,369 |
|
|
Current maturities of
long-term debt
|
|
|
4,782 |
|
|
|
5,442 |
|
|
Long-term debt
|
|
|
269,461 |
|
|
|
274,750 |
|
|
Other noncurrent
liabilities
|
|
|
18,105 |
|
|
|
18,345 |
|
|
Equity
|
|
|
335,215 |
|
|
|
508,012 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and
equity
|
|
$ |
802,186 |
|
|
$ |
1,009,029 |
|
|
|
|
|
|
|
|
|
|
| (1) |
Represents cash owed from a joint venture partner as a result
of centralized cash management.
|
|
| Financial Information |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months
Ended
February 28, |
|
|
Nine Months
Ended
February 28, |
|
| (in
thousands) |
|
2014 |
|
|
2013 |
|
|
2014 |
|
|
2013 |
|
|
Net sales
|
|
$ |
340,645 |
|
|
$ |
421,645 |
|
|
$ |
1,121,362 |
|
|
$ |
1,306,758 |
|
|
Gross margin
|
|
|
73,217 |
|
|
|
90,570 |
|
|
|
239,098 |
|
|
|
254,796 |
|
|
Operating income
|
|
|
48,752 |
|
|
|
61,387 |
|
|
|
164,824 |
|
|
|
169,997 |
|
|
Depreciation and
amortization
|
|
|
8,622 |
|
|
|
9,979 |
|
|
|
28,063 |
|
|
|
29,089 |
|
|
Interest expense
|
|
|
2,494 |
|
|
|
2,212 |
|
|
|
6,950 |
|
|
|
6,681 |
|
|
Income tax
expense
|
|
|
2,937 |
|
|
|
1,842 |
|
|
|
8,829 |
|
|
|
5,488 |
|
|
Net earnings
|
|
|
44,018 |
|
|
|
57,421 |
|
|
|
149,801 |
|
|
|
158,570 |
|
|