Preferred stock, shares authorized (in shares)

  


|  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |
| ConsolidatedBalance Sheets | As of May 31, |
| (In thousands except share data) | 2022 |  | 2021 |
|  |  |  |  |
| Assets |   |  |   |
| Current assets: |   |  |   |
| Cash and cash equivalents | $ | 90,471  |  |  | $ | 493,640  |  |
|  |  |  |  |
| Accounts receivable, principally trade, less allowance of $12,918 and    $12,097, respectively | 1,006,220  |  |  | 901,710  |  |
| Inventories, net | 472,150  |  |  | 481,797  |  |
| Uniforms and other rental items in service | 916,706  |  |  | 810,104  |  |
| Income taxes, current | 21,708  |  |  | 22,282  |  |
| Prepaid expenses and other current assets | 124,728  |  |  | 133,776  |  |
| Total current assets | 2,631,983  |  |  | 2,843,309  |  |
|  |  |  |  |
| Property and equipment, net | 1,323,673  |  |  | 1,318,438  |  |
|  |  |  |  |
| Investments | 242,873  |  |  | 274,616  |  |
| Goodwill | 3,042,976  |  |  | 2,913,069  |  |
| Service contracts, net | 391,638  |  |  | 408,445  |  |
| Operating lease right-of-use assets, net | 170,003  |  |  | 168,532  |  |
| Other assets, net | 344,110  |  |  | 310,414  |  |
|  |  |  |  |
|  | $ | 8,147,256  |  |  | $ | 8,236,823  |  |
| Liabilities and Shareholders' Equity |   |  |   |
| Current liabilities: |   |  |   |
| Accounts payable | $ | 251,504  |  |  | $ | 230,786  |  |
| Accrued compensation and related liabilities | 236,992  |  |  | 241,469  |  |
| Accrued liabilities | 588,948  |  |  | 518,910  |  |
|  |  |  |  |
| Operating lease liabilities, current | 43,872  |  |  | 43,850  |  |
| Debt due within one year | 311,574  |  |  | 899,070  |  |
| Total current liabilities | 1,432,890  |  |  | 1,934,085  |  |
|  |  |  |  |
| Long-term liabilities: |   |  |   |
| Debt due after one year | 2,483,932  |  |  | 1,642,833  |  |
| Deferred income taxes | 473,777  |  |  | 386,647  |  |
| Operating lease liabilities | 129,064  |  |  | 130,774  |  |
| Accrued liabilities | 319,397  |  |  | 454,637  |  |
| Total long-term liabilities | 3,406,170  |  |  | 2,614,891  |  |
|  |  |  |  |
| Shareholders' equity: |   |  |   |
| Preferred stock, no par value:100,000 shares authorized, none outstanding | —  |  |  | —  |  |
| Common stock, no par value, and paid-in capital:425,000,000 shares authorized2022: 190,837,921 shares issued and 101,711,215 shares outstanding2021: 189,071,185 shares issued and 104,061,391 shares outstanding | 1,771,917  |  |  | 1,516,202  |  |
| Retained earnings | 8,719,163  |  |  | 7,877,015  |  |
| Treasury stock:2022: 89,126,706 shares2021: 85,009,794 shares | (7,290,801) |  |  | (5,736,258) |  |
| Accumulated other comprehensive income | 107,917  |  |  | 30,888  |  |
| Total shareholders' equity | 3,308,196  |  |  | 3,687,847  |  |
|  | $ | 8,147,256  |  |  | $ | 8,236,823  |  |

  
See accompanying notes.38
