Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Aug. 31, 2015
May. 31, 2015
ASSETS    
Cash $ 7,998 $ 2,932
Trade and other receivables, net of allowance for doubtful accounts of $2,909 and $2,038, respectively 248,692 199,375
Inventories, net 165,956 174,546
Income taxes receivable 7,358 7,393
Deferred income taxes 15,405 15,465
Prepaid expenses and other current assets 7,749 4,985
Total current assets 453,158 404,696
Property, plant and equipment, net of accumulated depreciation of $21,084 and $19,337, respectively 48,680 47,051
Goodwill 102,732 102,755
Intangible assets, net 273,569 276,754
Deferred income taxes 7,822 8,150
Other non-current assets 5,561 5,511
TOTAL ASSETS 891,522 844,917
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Short-term debt 133,179 90,550
Accounts payable 40,198 41,518
Accrued liabilities 56,529 45,756
Current portion of retirement benefit obligations 305 320
Current portion of financing and capital lease obligations 189 179
Total current liabilities 230,400 178,323
Long-term debt 321,364 320,271
Retirement benefit obligation 4,791 5,057
Financing and capital lease obligations 13,874 14,406
Deferred income taxes 14,592 14,741
Other non-current liabilities 799 358
TOTAL LIABILITIES 585,820 533,156
STOCKHOLDERS’ EQUITY    
Common stock, no par value; unlimited shares authorized; 45,554,180, and 45,552,180 shares issued and outstanding at August 31, 2015 and May 31, 2015, respectively 273,339 273,332
Additional paid-in capital 6,097 5,385
Retained earnings 51,671 56,022
Accumulated other comprehensive loss (25,405) (22,978)
TOTAL STOCKHOLDERS’ EQUITY 305,702 311,761
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY $ 891,522 $ 844,917