Loss from discontinued operations, net of tax benefit of $0, $0 and $(107), respectively

  
  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| ConsolidatedStatements of Income | Fiscal Years Ended May 31, |
| (In thousands except per share data) | 2022 |  | 2021 |  | 2020 |
|  |  |  |  |  |  |
| Revenue: |   |  |   |  |   |
| Uniform rental and facility services | $ | 6,226,980  |  |  | $ | 5,689,632  |  |  | $ | 5,643,494  |  |
| Other | 1,627,479  |  |  | 1,426,708  |  |  | 1,441,626  |  |
| Total revenue | 7,854,459  |  |  | 7,116,340  |  |  | 7,085,120  |  |
|  |  |  |  |  |  |
| Costs and expenses: |   |  |   |  |   |
| Cost of uniform rental and facility services | 3,316,433  |  |  | 2,983,514  |  |  | 3,055,145  |  |
| Cost of other | 905,780  |  |  | 818,175  |  |  | 796,227  |  |
| Selling and administrative expenses | 2,044,876  |  |  | 1,929,159  |  |  | 2,071,052  |  |
| Operating income | 1,587,370  |  |  | 1,385,492  |  |  | 1,162,696  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
|  |  |  |  |  |  |
| Interest income | (242) |  |  | (467) |  |  | (988) |  |
| Interest expense | 88,844  |  |  | 98,210  |  |  | 105,393  |  |
|  |  |  |  |  |  |
| Income before income taxes | 1,498,768  |  |  | 1,287,749  |  |  | 1,058,291  |  |
| Income taxes | 263,011  |  |  | 176,781  |  |  | 181,931  |  |
| Income from continuing operations | 1,235,757  |  |  | 1,110,968  |  |  | 876,360  |  |
| Loss from discontinued operations, net of tax benefit of $0, $0   and $(107), respectively | —  |  |  | —  |  |  | (323) |  |
| Net income | $ | 1,235,757  |  |  | $ | 1,110,968  |  |  | $ | 876,037  |  |
|  |  |  |  |  |  |
| Basic earnings per share: |  |  |  |  |  |
| Continuing operations | $ | 11.92  |  |  | $ | 10.52  |  |  | $ | 8.36  |  |
| Discontinued operations | —  |  |  | —  |  |  | 0.00  |  |
| Basic earnings per share | $ | 11.92  |  |  | $ | 10.52  |  |  | $ | 8.36  |  |
|  |  |  |  |  |  |
| Diluted earnings per share: |  |  |  |  |  |
| Continuing operations | $ | 11.65  |  |  | $ | 10.24  |  |  | $ | 8.11  |  |
| Discontinued operations | —  |  |  | —  |  |  | 0.00  |  |
| Diluted earnings per share | $ | 11.65  |  |  | $ | 10.24  |  |  | $ | 8.11  |  |
|  |  |  |  |  |  |
| Dividends declared and paid per share | $ | 3.80  |  |  | $ | 5.01  |  |  | $ | 2.55  |  |

  
  
See accompanying notes.  
36
