Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Nov. 30, 2015
May. 31, 2015
ASSETS    
Cash $ 6,595 $ 2,932
Restricted cash 4,000 0
Trade and other receivables, net of allowance for doubtful accounts of $6,715 and $2,038, respectively 228,223 199,375
Inventories, net 156,979 174,546
Income taxes receivable 9,817 7,393
Deferred income taxes 15,283 15,465
Prepaid expenses and other current assets 6,648 4,985
Total current assets 427,545 404,696
Property, plant and equipment, net of accumulated depreciation of $23,550 and $19,337, respectively 65,615 47,051
Goodwill 102,726 102,755
Intangible assets, net 277,347 276,754
Deferred income taxes 3,188 8,150
Other non-current assets 11,461 5,511
TOTAL ASSETS 887,882 844,917
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Short-term debt 129,926 90,550
Accounts payable 44,131 41,518
Accrued liabilities 48,368 45,756
Current portion of retirement benefit obligations 302 320
Current portion of financing and capital lease obligations 186 179
Total current liabilities 222,913 178,323
Long-term debt 322,017 320,271
Retirement benefit obligation 4,721 5,057
Financing and capital lease obligations 25,752 14,406
Deferred income taxes 14,321 14,741
Other non-current liabilities 649 358
TOTAL LIABILITIES 590,373 533,156
STOCKHOLDERS’ EQUITY    
Common stock, no par value; unlimited shares authorized; 45,566,680, and 45,552,180 shares issued and outstanding at November 30, 2015 and May 31, 2015, respectively 273,382 273,332
Additional paid-in capital 2,800 5,385
Retained earnings 47,167 56,022
Accumulated other comprehensive loss (25,840) (22,978)
TOTAL STOCKHOLDERS’ EQUITY 297,509 311,761
TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY $ 887,882 $ 844,917