Cintas (CTAS) 10-Q 8 Jan 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Nov. 30, 2023	Dec. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Nov. 30, 2023
Document Transition Report	false
Entity File Number	0-11399
Entity Registrant Name	Cintas Corporation
Entity Incorporation, State or Country Code	WA
Entity Tax Identification Number	31-1188630
Entity Address, Address Line One	6800 Cintas Boulevard
Entity Address, Address Line Two	P.O. Box 625737
Entity Address, City or Town	Cincinnati,
Entity Address, State or Province	OH
Entity Address, Postal Zip Code	45262-5737
City Area Code	513
Local Phone Number	459-1200
Title of 12(b) Security	Common stock, no par value
Trading Symbol	CTAS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		101,371,435
Entity Central Index Key	0000723254
Amendment Flag	false
Current Fiscal Year End Date	--05-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

Consolidated Condensed Statemen

Consolidated Condensed Statements of Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Revenue:
Total revenue	$ 2,377,177	$ 2,174,858	$ 4,719,507	$ 4,341,312
Costs and expenses:
Selling and administrative expenses	641,865	577,513	1,282,880	1,165,505
Operating income	499,683	444,934	1,000,239	885,054
Interest income	(769)	(344)	(1,191)	(499)
Interest expense	26,590	28,920	51,134	56,640
Income before income taxes	473,862	416,358	950,296	828,913
Income taxes	99,249	92,065	190,598	152,931
Net income	$ 374,613	$ 324,293	$ 759,698	$ 675,982
Basic earnings per share (in dollars per share)	$ 3.67	$ 3.18	$ 7.43	$ 6.63
Diluted earnings per share (in dollars per share)	3.61	3.12	7.32	6.51
Dividends declared per share (in dollars per share)	$ 1.35	$ 1.15	$ 2.70	$ 2.30
Uniform Rental and Facility Services
Revenue:
Total revenue	$ 1,850,542	$ 1,709,987	$ 3,677,367	$ 3,407,759
Costs and expenses:
Cost of revenue	974,231	906,727	1,921,814	1,797,493
Other
Revenue:
Total revenue	526,635	464,871	1,042,140	933,553
Costs and expenses:
Cost of revenue	$ 261,398	$ 245,684	$ 514,574	$ 493,260

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 374,613	$ 324,293	$ 759,698	$ 675,982
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments	(1,813)	(9,901)	821	(29,107)
Change in fair value of interest rate lock agreements, net of tax expense of $3,115, $2,531, $5,921 and $2,851, respectively	9,099	7,394	17,298	8,328
Amortization of interest rate lock agreements, net of tax benefit of $(503), $(513), $(990) and $(1,025), respectively	(1,495)	(1,521)	(2,937)	(3,042)
Other, net of tax expense of $130, $0, $130 and $0, respectively	379	0	379	0
Other comprehensive income (loss), net of tax expense of $2,742, $2,018, $5,061 and $1,826, respectively	6,170	(4,028)	15,561	(23,821)
Comprehensive income	$ 380,783	$ 320,265	$ 775,259	$ 652,161

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Statement of Comprehensive Income [Abstract]
Change in fair value of interest rate lock agreements, tax expense	$ 3,115	$ 2,531	$ 5,921	$ 2,851
Amortization of interest rate lock agreements, tax benefit	(503)	(513)	(990)	(1,025)
Other comprehensive income (loss), other adjustments, tax	130	0	130	0
Other comprehensive income (loss), tax expense	$ 2,742	$ 2,018	$ 5,061	$ 1,826

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands	Nov. 30, 2023	May 31, 2023
Current assets:
Cash and cash equivalents	$ 85,556	$ 124,149
Accounts receivable, net	1,273,974	1,152,993
Inventories, net	474,840	506,604
Uniforms and other rental items in service	1,035,717	1,011,918
Prepaid expenses and other current assets	166,652	142,795
Total current assets	3,036,739	2,938,459
Property and equipment, net	1,463,826	1,396,476
Investments	270,006	247,191
Goodwill	3,120,506	3,056,201
Service contracts, net	329,511	346,574
Operating lease right-of-use assets, net	179,154	178,464
Other assets, net	414,127	382,991
Total assets	8,813,869	8,546,356
Current liabilities:
Accounts payable	316,697	302,292
Accrued compensation and related liabilities	154,452	239,086
Accrued liabilities	619,288	632,504
Income taxes, current	13,102	12,470
Operating lease liabilities, current	44,063	43,710
Debt due within one year	210,000	0
Total current liabilities	1,357,602	1,230,062
Long-term liabilities:
Debt due after one year	2,474,287	2,486,405
Deferred income taxes	497,198	498,356
Operating lease liabilities	138,936	138,278
Accrued liabilities	351,365	329,269
Total long-term liabilities	3,461,786	3,452,308
Shareholders’ equity:
Preferred stock, no par value: 100,000 shares authorized, none outstanding	0	0
Common stock, no par value, and paid-in capital	2,179,951	2,031,542
Retained earnings	10,081,267	9,597,315
Treasury stock	(8,360,076)	(7,842,649)
Accumulated other comprehensive income	93,339	77,778
Total shareholders’ equity	3,994,481	3,863,986
Total liabilities and shareholders' equity	$ 8,813,869	$ 8,546,356

Consolidated Condensed Balanc_2

Consolidated Condensed Balance Sheets (Parenthetical) - shares	Nov. 30, 2023	May 31, 2023
Statement of Financial Position [Abstract]
Preferred stock, authorized (in shares)	100,000	100,000
Preferred stock, outstanding (in shares)	0	0
Common stock, authorized (in shares)	425,000,000	425,000,000
Common stock, issued (in shares)	192,861,307	192,198,938
Common stock, outstanding (in shares)	101,347,603	101,732,148
Treasury stock (in shares)	91,513,704	90,466,790

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock and Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income	Treasury Stock
Beginning balance (in shares) at May. 31, 2022		190,838,000
Beginning balance at May. 31, 2022	$ 3,308,196	$ 1,771,917	$ 8,719,163	$ 107,917	$ (7,290,801)
Beginning balance (in shares) at May. 31, 2022					(89,127,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	351,689		351,689
Comprehensive (loss) income, net of tax	(19,793)			(19,793)
Dividends	(117,461)		(117,461)
Stock-based compensation	26,282	$ 26,282
Vesting of stock-based compensation awards (in shares)		273,000
Stock options exercised (in shares)		543,000			(193,000)
Stock options exercised	1,047	$ 80,638			$ (79,591)
Repurchase of common stock (in shares)					(802,000)
Repurchase of common stock	(320,334)				$ (320,334)
Ending balance (in shares) at Aug. 31, 2022		191,654,000
Ending balance at Aug. 31, 2022	3,229,626	$ 1,878,837	8,953,391	88,124	$ (7,690,726)
Ending balance (in shares) at Aug. 31, 2022					(90,122,000)
Beginning balance (in shares) at May. 31, 2022		190,838,000
Beginning balance at May. 31, 2022	3,308,196	$ 1,771,917	8,719,163	107,917	$ (7,290,801)
Beginning balance (in shares) at May. 31, 2022					(89,127,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	675,982
Comprehensive (loss) income, net of tax	(23,821)
Repurchase of common stock	(348,682)
Ending balance (in shares) at Nov. 30, 2022		191,857,000
Ending balance at Nov. 30, 2022	3,430,538	$ 1,933,145	9,160,346	84,096	$ (7,747,049)
Ending balance (in shares) at Nov. 30, 2022					(90,256,000)
Beginning balance (in shares) at Aug. 31, 2022		191,654,000
Beginning balance at Aug. 31, 2022	3,229,626	$ 1,878,837	8,953,391	88,124	$ (7,690,726)
Beginning balance (in shares) at Aug. 31, 2022					(90,122,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	324,293		324,293
Comprehensive (loss) income, net of tax	(4,028)			(4,028)
Dividends	(117,338)		(117,338)
Stock-based compensation	25,255	$ 25,255
Vesting of stock-based compensation awards (in shares)		9,000
Stock options exercised (in shares)		194,000			(66,000)
Stock options exercised	1,078	$ 29,053			$ (27,975)
Repurchase of common stock (in shares)					(68,000)
Repurchase of common stock	(28,348)				$ (28,348)
Ending balance (in shares) at Nov. 30, 2022		191,857,000
Ending balance at Nov. 30, 2022	$ 3,430,538	$ 1,933,145	9,160,346	84,096	$ (7,747,049)
Ending balance (in shares) at Nov. 30, 2022					(90,256,000)
Beginning balance (in shares) at May. 31, 2023	192,198,938	192,199,000
Beginning balance at May. 31, 2023	$ 3,863,986	$ 2,031,542	9,597,315	77,778	$ (7,842,649)
Beginning balance (in shares) at May. 31, 2023	(90,466,790)				(90,467,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 385,085		385,085
Comprehensive (loss) income, net of tax	9,391			9,391
Dividends	(138,272)		(138,272)
Stock-based compensation	30,242	$ 30,242
Vesting of stock-based compensation awards (in shares)		156,000
Stock options exercised (in shares)		303,000			(118,000)
Stock options exercised	479	$ 59,691			$ (59,212)
Repurchase of common stock (in shares)					(145,000)
Repurchase of common stock	(73,276)				$ (73,276)
Ending balance (in shares) at Aug. 31, 2023		192,658,000
Ending balance at Aug. 31, 2023	$ 4,077,635	$ 2,121,475	9,844,128	87,169	$ (7,975,137)
Ending balance (in shares) at Aug. 31, 2023					(90,730,000)
Beginning balance (in shares) at May. 31, 2023	192,198,938	192,199,000
Beginning balance at May. 31, 2023	$ 3,863,986	$ 2,031,542	9,597,315	77,778	$ (7,842,649)
Beginning balance (in shares) at May. 31, 2023	(90,466,790)				(90,467,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 759,698
Comprehensive (loss) income, net of tax	15,561
Repurchase of common stock	$ (423,128)
Ending balance (in shares) at Nov. 30, 2023	192,861,307	192,861,000
Ending balance at Nov. 30, 2023	$ 3,994,481	$ 2,179,951	10,081,267	93,339	$ (8,360,076)
Ending balance (in shares) at Nov. 30, 2023	(91,513,704)				(91,514,000)
Beginning balance (in shares) at Aug. 31, 2023		192,658,000
Beginning balance at Aug. 31, 2023	$ 4,077,635	$ 2,121,475	9,844,128	87,169	$ (7,975,137)
Beginning balance (in shares) at Aug. 31, 2023					(90,730,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	374,613		374,613
Comprehensive (loss) income, net of tax	6,170			6,170
Dividends	(137,474)		(137,474)
Stock-based compensation	22,940	$ 22,940
Vesting of stock-based compensation awards (in shares)		3,000
Stock options exercised (in shares)		200,000			(68,000)
Stock options exercised	449	$ 35,536			$ (35,087)
Repurchase of common stock (in shares)					(716,000)
Repurchase of common stock	$ (349,852)				$ (349,852)
Ending balance (in shares) at Nov. 30, 2023	192,861,307	192,861,000
Ending balance at Nov. 30, 2023	$ 3,994,481	$ 2,179,951	$ 10,081,267	$ 93,339	$ (8,360,076)
Ending balance (in shares) at Nov. 30, 2023	(91,513,704)				(91,514,000)

Consolidated Condensed Statem_5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Cash flows from operating activities:
Net income	$ 759,698	$ 675,982
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	136,803	126,561
Amortization of intangible assets and capitalized contract costs	79,235	74,693
Stock-based compensation	53,182	51,537
Deferred income taxes	(7,105)	18,565
Change in current assets and liabilities, net of acquisitions of businesses:
Accounts receivable, net	(120,881)	(133,897)
Inventories, net	32,093	(43,266)
Uniforms and other rental items in service	(21,649)	(73,475)
Prepaid expenses and other current assets and capitalized contract costs	(80,056)	(85,532)
Accounts payable	14,981	61,421
Accrued compensation and related liabilities	(86,725)	(28,212)
Accrued liabilities and other	(30,453)	(33,352)
Income taxes, current	508	8,124
Net cash provided by operating activities	729,631	619,149
Cash flows from investing activities:
Capital expenditures	(200,527)	(146,404)
Purchases of investments	(7,475)	(5,182)
Acquisitions of businesses, net of cash acquired	(73,997)	(15,457)
Other, net	(196)	(4,381)
Net cash used in investing activities	(282,195)	(171,424)
Cash flows from financing activities:
Issuance of commercial paper, net	210,000	124,046
Repayment of debt	(13,450)	0
Proceeds from exercise of stock-based compensation awards	929	2,125
Dividends paid	(255,839)	(215,017)
Repurchase of common stock	(423,128)	(348,682)
Other, net	(4,322)	(8,840)
Net cash used in financing activities	(485,810)	(446,368)
Effect of exchange rate changes on cash and cash equivalents	(219)	(2,029)
Net decrease in cash and cash equivalents	(38,593)	(672)
Cash and cash equivalents at beginning of period	124,149	90,471
Cash and cash equivalents at end of period	$ 85,556	$ 89,799

Basis of Presentation

Basis of Presentation	6 Months Ended
	Nov. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated condensed financial statements of Cintas Corporation (Cintas, the Company, we, us or our) included herein have been prepared by Cintas, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. While we believe that the disclosures are adequately presented, we suggest that these consolidated condensed financial statements be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2023 (Annual Report) filed with the SEC on July 27, 2023. See Note 1 entitled Significant Accounting Policies of "Notes to Consolidated Financial Statements" of that Annual Report for a summary of our significant accounting policies. There have been no material changes in the accounting policies followed by Cintas during the current fiscal year. Interim results are subject to variations and are not necessarily indicative of the results of operations for a full fiscal year. In the opinion of management, adjustments (which include only normal recurring adjustments) necessary for a fair statement of the consolidated results of the interim periods shown have been made. Inventories, net are valued at the lower of cost (first-in, first-out) or net realizable value. Inventory is comprised of the following at: (In thousands) November 30, May 31, Raw materials $ 19,283 $ 27,878 Work in process 46,063 56,384 Finished goods 409,494 422,342 Inventories, net $ 474,840 $ 506,604 Inventories are recorded net of reserves for obsolete inventory (excess and slow-moving) of $73.6 million and $80.1 million at November 30, 2023 and May 31, 2023, respectively. The inventory obsolescence reserve is determined by specific identification, as well as an estimate based on Cintas' historical rates of obsolescence. Once a specific inventory item is written down to the lower of cost or net realizable value, a new cost basis has been established, and that inventory item cannot subsequently be marked up. New Accounting Pronouncements There are no new accounting pronouncements recently issued or newly effective that had, or are expected to have, a material impact on Cintas' consolidated condensed financial statements.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Nov. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The following table presents Cintas' total revenue disaggregated by operating segment: Three Months Ended Six Months Ended (In thousands) November 30, November 30, November 30, November 30, Uniform Rental and $ 1,850,542 77.9 % $ 1,709,987 78.6 % $ 3,677,367 77.9 % $ 3,407,759 78.5 % First Aid and Safety 266,401 11.2 % 235,974 10.9 % 527,094 11.2 % 470,135 10.8 % Fire Protection 173,950 7.3 % 146,602 6.7 % 348,266 7.4 % 298,449 6.9 % Uniform Direct 86,284 3.6 % 82,295 3.8 % 166,780 3.5 % 164,969 3.8 % Total revenue $ 2,377,177 100.0 % $ 2,174,858 100.0 % $ 4,719,507 100.0 % $ 4,341,312 100.0 % The Fire Protection Services and Uniform Direct Sales operating segments are included within All Other as disclosed in Note 10 entitled Segment Information. Revenue Recognition Policy Approximately 95% of the Company's revenue is derived from fees for route servicing of Uniform Rental and Facility Services, First Aid and Safety Services and Fire Protection Services customers, performed by a Cintas employee-partner, at the customer's location of business. Revenue from our route servicing customer contracts represent a single-performance obligation. The Company recognizes revenue over time as services are performed, based on the nature of services provided and contractual rates (output method) or at a point in time when the performance obligation under the terms of the contract with a customer are satisfied, at the customer's location of business. The Company's remaining revenue, primarily within the Uniform Direct Sales operating segment, and representing approximately 5% of the Company's total revenue, is recognized when the obligations under the terms of a contract with a customer are satisfied. This generally occurs when the goods are transferred to the customer. Revenue recorded is presented net of sales and other taxes we collect on behalf of governmental authorities. Shipping and handling costs charged to customers are treated as fulfillment activities and are recorded in both revenue and cost of sales at the time control is transferred to the customer. Certain of our customer contracts include pricing terms and conditions that include components of variable consideration. The variable consideration is typically in the form of consideration paid to a customer based on performance metrics specified within the contract and is not material in any period presented. When determining if variable consideration should be constrained, the Company considers whether factors outside its control could result in a significant reversal of revenue. In making these assessments, the Company considers the likelihood and magnitude of a potential reversal. The Company's performance period generally corresponds with the monthly invoice period. No constraints on our revenue recognition were applied during the three or six months ended November 30, 2023 or 2022. We are exposed to credit losses primarily through our trade receivables. We determine the allowance for credit losses using both an estimate, based on historical rates of collections, and reserves for specific accounts identified as uncollectible. The portion of the allowance for credit losses that is an estimate based on Cintas' historical rates of collections is recorded for overdue amounts, beginning with a nominal percentage when the account is current and increasing substantially as the account ages. The amount provided as the account ages will differ slightly between the Uniform Rental and Facility Services reportable operating segment, the First Aid and Safety Services reportable operating segment and All Other because of differences in customers served and the nature of each operating segment. We update our allowance for credit losses quarterly, considering recent write-offs and collections information and underlying economic conditions and expectations. Costs to Obtain a Contract The Company capitalizes commission expenses paid to our employee-partners when the commissions are deemed to be incremental for obtaining the route servicing customer contract. As permitted by Accounting Standards Codification 606, Revenue from Contracts with Customers (ASC 606), the Company has elected to apply the guidance to a portfolio of contracts (or performance obligations) with similar characteristics because the Company reasonably expects that the effects on the consolidated condensed financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts within the portfolio. The Company also continues to expense certain costs to obtain a contract if those costs do not meet the criteria of ASC 606 or the amortization period of the asset would have been one year or less. The deferred commissions are amortized on a straight-line basis over the expected period of benefit. We review the deferred commission balances for impairment on an ongoing basis. Deferred commissions are classified as current or noncurrent based on the timing of when we expect to recognize the expense. The current portion is included in prepaid expenses and other current assets and the noncurrent portion is included in other assets, net on the Company's consolidated condensed balance sheets. As of November 30, 2023, the current and noncurrent assets related to deferred commissions totaled $93.9 million and $258.6 million, respectively. As of May 31, 2023, the current and noncurrent assets related to deferred commissions totaled $92.5 million and $251.6 million, respectively. We recorded amortization expense related to deferred commissions of $25.2 million and $23.4 million during the three months ended November 30, 2023 and 2022, respectively. During the six months ended November 30, 2023 and 2022, we recorded amortization expense related to deferred commissions of $49.6 million and $45.8 million, respectively. These expenses are classified in selling and administrative expenses on the consolidated condensed statements of income.

Leases

Leases	6 Months Ended
	Nov. 30, 2023
Leases [Abstract]
Leases	Leases Cintas has operating leases for certain operating facilities, vehicles and equipment, which provide the right to use the underlying asset and require lease payments over the term of the lease. Each new contract is evaluated to determine if an arrangement contains a lease and whether that lease meets the classification criteria of a finance or operating lease. All identified leases are recorded on the consolidated condensed balance sheets with a corresponding operating lease right-of-use asset, net, representing the right to use the underlying asset for the lease term and the operating lease liabilities representing the obligation to make lease payments arising from the lease. Short-term operating leases, which have an initial term of 12 months or less, are not recorded on the consolidated condensed balance sheets. Operating lease right-of-use assets, net and operating lease liabilities are recognized at the commencement date of the lease based on the present value of lease payments over the lease term and include options to extend or terminate the lease when they are reasonably certain to be exercised. The present value of lease payments is determined primarily using the incremental borrowing rate based on the information available at lease commencement date. Lease expense for operating leases is recorded on a straight-line basis over the lease term and variable lease costs are recorded as incurred. Both lease expense and variable lease costs are primarily recorded in cost of uniform rental and facility services and other on the Company's consolidated condensed statements of income. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating lease costs, including short-term lease expense and variable lease costs which were immaterial in both periods, were $20.8 million and $20.0 million for the three months ended November 30, 2023 and 2022, respectively. For the six months ended November 30, 2023 and 2022, operating lease costs, including short-term lease expense and variable lease costs which were immaterial in both periods, were $40.5 million and $39.5 million, respectively. The following table provides supplemental information related to the Company's consolidated condensed statements of cash flows for the six months ended November 30: (In thousands) 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 25,321 $ 25,108 Operating lease right-of-use assets obtained in exchange for new and renewed $ 22,684 $ 29,186 Operating lease right-of-use assets acquired in business combinations $ 267 $ — Other information related to the operating lease right-of-use assets, net and operating lease liabilities was as follows: November 30, May 31, Weighted-average remaining lease term 5.20 years 5.28 years Weighted-average discount rate 3.14% 2.87% The contractual future minimum lease payments of Cintas' operating lease liabilities by fiscal year are as follows as of November 30, 2023: (In thousands) 2024 (remaining six months) $ 24,842 2025 45,671 2026 37,932 2027 28,682 2028 23,489 Thereafter 38,400 Total payments 199,016 Less interest (16,017) Total present value of lease payments $ 182,999

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Nov. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements All financial instruments that are measured at fair value on a recurring basis (at least annually) have been classified within the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the consolidated condensed balance sheet dates. These financial instruments measured at fair value on a recurring basis are summarized below: As of November 30, 2023 As of May 31, 2023 (In thousands) Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Cash and cash equivalents $ 85,556 $ — $ — $ 85,556 $ 124,149 $ — $ — $ 124,149 Other assets, net: Interest rate lock — 93,669 — 93,669 — 70,449 — 70,449 Total assets at fair $ 85,556 $ 93,669 $ — $ 179,225 $ 124,149 $ 70,449 $ — $ 194,598 Cintas’ cash and cash equivalents are generally classified within Level 1 or Level 2 of the fair value hierarchy. Financial instruments classified as Level 1 are based on quoted market prices in active markets, and financial instruments classified as Level 2 are based on quoted market prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. The types of financial instruments Cintas classifies within Level 1 include most bank deposits and money market securities. Cintas does not adjust the quoted market price for such financial instruments. The fair values of Cintas' interest rate lock agreements are based on similar exchange traded derivatives (market approach) and are, therefore, included within Level 2 of the fair value hierarchy. The fair value was determined by comparing the locked rates against the benchmarked treasury rate. No other amounts included in other assets, net, are recorded at fair value on a recurring basis. The methods described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while Cintas believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the consolidated condensed balance sheet dates.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Nov. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Cintas uses the two-class method to calculate basic and diluted earnings per share as a result of outstanding participating securities in the form of restricted stock awards. The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares: Three Months Ended Six Months Ended Basic Earnings per Share (In thousands except per share data) November 30, 2023 November 30, 2022 November 30, 2023 November 30, 2022 Net income $ 374,613 $ 324,293 $ 759,698 $ 675,982 Less: net income allocated to participating securities 1,460 1,372 2,957 2,859 Net income available to common shareholders $ 373,153 $ 322,921 $ 756,741 $ 673,123 Basic weighted average common shares outstanding 101,667 101,637 101,781 101,530 Basic earnings per share $ 3.67 $ 3.18 $ 7.43 $ 6.63 Three Months Ended Six Months Ended Diluted Earnings per Share (In thousands except per share data) November 30, 2023 November 30, 2022 November 30, 2023 November 30, 2022 Net income $ 374,613 $ 324,293 $ 759,698 $ 675,982 Less: net income allocated to participating securities 1,460 1,372 2,957 2,859 Net income available to common shareholders $ 373,153 $ 322,921 $ 756,741 $ 673,123 Basic weighted average common shares outstanding 101,667 101,637 101,781 101,530 Effect of dilutive securities – employee stock options 1,599 1,719 1,637 1,813 Diluted weighted average common shares outstanding 103,266 103,356 103,418 103,343 Diluted earnings per share $ 3.61 $ 3.12 $ 7.32 $ 6.51 For the three months ended November 30, 2023 and 2022, options granted to purchase 0.5 million and 1.1 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. For the six months ended November 30, 2023 and 2022, options granted to purchase 0.3 million and 0.9 million shares of Cintas common stock, respectively, were excluded from the computation of diluted earnings per share. The exercise prices of these options were greater than the average market price of the common stock (anti-dilutive). On July 27, 2021, Cintas announced that the Board of Directors authorized a $1.5 billion share buyback program, which does not have an expiration date. On July 26, 2022, Cintas announced that the Board of Directors authorized a new $1.0 billion share buyback program, which does not have an expiration date. The following table summarizes the share buyback activity by program and period: Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 Buyback Activity (In thousands except per share data) Shares Avg. Price Purchase Shares Avg. Price Purchase July 27, 2021 658 $ 486.58 $ 320,266 658 $ 486.58 $ 320,266 July 26, 2022 — — — — — — 658 $ 486.58 $ 320,266 658 $ 486.58 $ 320,266 Shares acquired for taxes due (1) 58 $ 518.89 $ 29,586 203 $ 507.61 $ 102,862 Total repurchase of Cintas common stock $ 349,852 $ 423,128 Three Months Ended Six Months Ended November 30, 2022 November 30, 2022 Buyback Activity (In thousands except per share data) Shares Avg. Price Purchase Shares Avg. Price Purchase July 27, 2021 12 $ 377.66 $ 4,683 544 $ 395.97 $ 215,434 July 26, 2022 — — — — — — 12 $ 377.66 $ 4,683 544 $ 395.97 $ 215,434 Shares acquired for taxes due (1) 56 $ 423.64 $ 23,665 326 $ 408.97 $ 133,248 Total repurchase of Cintas common stock $ 28,348 $ 348,682 (1) Shares of Cintas common stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards. In addition to the share buyback activity presented above, Cintas acquired shares of Cintas common stock, via non-cash transactions, in connection with net-share settlements of option exercises. The following table summarizes Cintas' non-cash share buyback activity: Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 (In thousands except per share data) Shares Avg. Price Non-Cash Shares Avg. Price Non-Cash Non-cash transaction activity 68 $ 514.75 $ 35,087 186 $ 506.82 $ 94,300 Three Months Ended Six Months Ended November 30, 2022 November 30, 2022 Shares Avg. Price Non-Cash Shares Avg. Price Non-Cash Non-cash transaction activity 66 $ 421.85 $ 27,975 260 $ 414.46 $ 107,566

Goodwill, Service Contracts and

Goodwill, Service Contracts and Other Assets, Net	6 Months Ended
	Nov. 30, 2023
Goodwill, Service Contracts And Other Assets [Abstract]
Goodwill, Service Contracts and Other Assets, Net	Goodwill, Service Contracts and Other Assets, Net Changes in the carrying amount of goodwill and service contracts for the six months ended November 30, 2023, by reportable operating segment and All Other, are as follows: Goodwill (In thousands) Uniform Rental First Aid All Total Balance as of June 1, 2023 $ 2,636,607 $ 292,868 $ 126,726 $ 3,056,201 Goodwill acquired 49,737 962 13,361 64,060 Foreign currency translation 224 20 1 245 Balance as of November 30, 2023 $ 2,686,568 $ 293,850 $ 140,088 $ 3,120,506 Service Contracts (In thousands) Uniform Rental First Aid All Total Balance as of June 1, 2023 $ 310,030 $ 21,157 $ 15,387 $ 346,574 Service contracts acquired 7,632 290 1,558 9,480 Service contracts amortization (22,103) (2,627) (1,908) (26,638) Foreign currency translation 86 9 — 95 Balance as of November 30, 2023 $ 295,645 $ 18,829 $ 15,037 $ 329,511 Information regarding Cintas’ service contracts and other assets, net is as follows: As of November 30, 2023 As of May 31, 2023 (In thousands) Carrying Accumulated Net Carrying Accumulated Net Service contracts $ 1,014,332 $ 684,821 $ 329,511 $ 1,004,754 $ 658,180 $ 346,574 Capitalized contract costs (1) $ 721,921 $ 463,307 $ 258,614 $ 665,705 $ 413,680 $ 252,025 Noncompete and 224,489 68,976 155,513 198,260 67,294 130,966 Total other assets, net $ 946,410 $ 532,283 $ 414,127 $ 863,965 $ 480,974 $ 382,991 (1) The current portion of capitalized contract costs, included in prepaid expenses and other current assets on the consolidated condensed balance sheets as of November 30, 2023 and May 31, 2023, is $93.9 million and $92.5 million, respectively. Amortization expense for service contracts and other assets was $39.4 million and $37.3 million for the three months ended November 30, 2023 and 2022, respectively. For the six months ended November 30, 2023 and 2022, amortization expense for service contracts and other assets was $77.9 million and $73.7 million, respectively. These expenses are recorded in selling and administrative expenses on the consolidated condensed statements of income. As of November 30, 2023, the estimated future amortization expense for service contracts and other assets, excluding any future acquisitions and commissions to be earned, is as follows: Fiscal Year (In thousands) 2024 (remaining six months) $ 77,591 2025 142,842 2026 121,587 2027 98,902 2028 75,019 Thereafter 176,763 Total future amortization expense $ 692,704

Debt, Derivatives and Hedging A

Debt, Derivatives and Hedging Activities	6 Months Ended
	Nov. 30, 2023
Debt Disclosure [Abstract]
Debt, Derivatives and Hedging Activities	Debt, Derivatives and Hedging Activities Cintas' outstanding debt is summarized as follows: (In thousands) Interest Fiscal Year Fiscal Year November 30, May 31, Debt due within one year Commercial paper 5.52 % (1) 2024 2024 $ 210,000 $ — Total debt due within one year $ 210,000 $ — Debt due after one year Senior notes (2) 3.11 % 2015 2025 $ 50,462 $ 50,630 Senior notes 3.45 % 2022 2025 400,000 400,000 Senior notes 3.70 % 2017 2027 1,000,000 1,000,000 Senior notes 4.00 % 2022 2032 800,000 800,000 Senior notes 6.15 % 2007 2037 236,550 250,000 Debt issuance costs (12,725) (14,225) Total debt due after one year $ 2,474,287 $ 2,486,405 (1) Variable rate debt instrument. The rate presented is the variable borrowing rate at November 30, 2023. (2) Cintas assumed these senior notes with the acquisition of G&K Services, Inc. (G&K) in the fourth quarter of fiscal 2017, and they were recorded at fair value. The interest rate shown above is the effective interest rate. The principal amount of these senior notes is $50.0 million with a stated interest rate of 3.88%. Cintas' senior notes, excluding the G&K senior notes assumed with the acquisition of G&K in fiscal 2017, are recorded at cost, net of debt issuance costs. The fair value of the long-term debt is estimated using Level 2 inputs based on general market prices. The carrying value and fair value of Cintas' debt as of November 30, 2023 were $2,486.6 million and $2,396.5 million, respectively, and as of May 31, 2023 were $2,500.0 million and $2,443.8 million, respectively. During the three and six months ended November 30, 2023, Cintas repurchased, and subsequently retired, $3.5 million and $13.5 million, respectively, of its 6.15%, 30-year senior notes. In conjunction with these transactions, during the three and six months ended November 30, 2023, Cintas recognized a loss of $0.1 million and $0.9 million, respectively, which is recorded in interest expense on the consolidated condensed statements of income. During the six months ended November 30, 2023 and 2022, Cintas issued $210.0 million and $124.0 million, net of commercial paper, respectively. The credit agreement that supports our commercial paper program has capacity under the revolving credit facility of $2.0 billion. The credit agreement has an accordion feature that provides Cintas the ability to request increases to the borrowing commitments under the revolving credit facility of up to $500.0 million in the aggregate, subject to customary conditions. The maturity date of the revolving credit facility is March 23, 2027. As of November 30, 2023, there was $210.0 million of commercial paper outstanding with a weighted average interest rate of 5.52% and maturity dates less than 90 days and no borrowings on our revolving credit facility. As of May 31, 2023, there was no commercial paper outstanding and no borrowings on our revolving credit facility. Cintas uses interest rate locks to manage its overall interest expense as interest rate locks effectively change the interest rate of specific debt issuances. The interest rate locks are entered into to protect against unfavorable movements in the benchmark treasury rate related to forecasted debt issuances. Cintas used interest rate locks, which represent cash flow hedges, to hedge against movements in the treasury rates at the time Cintas issued its senior notes in fiscal 2007, fiscal 2017 and fiscal 2022. The amortization of the interest rate locks resulted in a decrease to other comprehensive income (loss) of $1.5 million for both the three months ended November 30, 2023 and 2022. For the six months ended November 30, 2023 and 2022, the amortization of the interest rate locks resulted in a decrease to other comprehensive income (loss) of $2.9 million and $3.0 million, respectively. During fiscal 2022 and fiscal 2020, Cintas entered into interest rate lock agreements for forecasted debt issuances. The aggregate notional value of outstanding cash flow hedges was $500.0 million at both November 30, 2023 and May 31, 2023. The fair values of the outstanding interest rate locks, for forecasted debt issuances, are summarized as follows: November 30, 2023 May 31, 2023 Fiscal Year of Issuance (In thousands) Other Other 2022 $ 56,054 $ 44,803 2020 $ 37,615 $ 25,646 The changes in fair value of the interest rate locks are recorded in other comprehensive income (loss), net of tax. These interest rate locks had no impact on net income or cash flows for the three and six months ended November 30, 2023 or 2022. Cintas has certain covenants related to debt agreements. These covenants limit Cintas' ability to incur certain liens, to engage in sale-leaseback transactions and to merge, consolidate or sell all or substantially all of Cintas' assets. These covenants also require Cintas to maintain certain debt to consolidated earnings before interest, taxes, depreciation and amortization (EBITDA) and interest coverage ratios. Cross-default provisions exist between certain debt instruments. If a default of a significant covenant were to occur, the default could result in an acceleration of the maturity of the indebtedness, impair liquidity and limit the ability to raise future capital. Cintas was in compliance with all of the debt covenants for all periods presented.

Income Taxes

Income Taxes	6 Months Ended
	Nov. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes In the normal course of business, Cintas provides for uncertain tax positions and the related interest and adjusts its unrecognized tax benefits and accrued interest accordingly. As of November 30, 2023 and May 31, 2023, recorded unrecognized tax benefits were $31.3 million and $29.3 million, respectively, and are included in long-term accrued liabilities on the consolidated condensed balance sheets. The majority of Cintas' operations are in North America. Cintas is required to file U.S. federal income tax returns, as well as state income tax returns in a majority of the domestic states and also in certain Canadian provinces. At times, Cintas is subject to audits in these jurisdictions. The audits, by nature, are sometimes complex and can require several years to resolve. The final resolution of any such tax audit could result in either a reduction in Cintas' accruals or an increase in its income tax provision, either of which could have an impact on the consolidated results of operations in any given period. All U.S. federal income tax returns are closed to audit through fiscal 2019. Cintas is currently in various audits in certain foreign jurisdictions and certain domestic states. The years under foreign and domestic state audits cover fiscal years back to 2014. Based on the status and resolution of the various audits and other potential regulatory developments, it is expected that the balance of unrecognized tax benefits will not materially change for the fiscal year ending May 31, 2024. Cintas’ effective tax rate was 20.9% and 22.1% for the three months ended November 30, 2023 and 2022, respectively. For the six months ended November 30, 2023 and 2022, Cintas' effective tax rate was 20.1% and 18.4%, respectively. The effective tax rate for both periods was impacted by certain discrete items (primarily the tax accounting for stock-based compensation).

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Nov. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss), net of tax: (In thousands) Foreign Unrealized Income Other Total Balance at June 1, 2023 $ (17,001) $ 96,714 $ (1,935) $ 77,778 Other comprehensive income before reclassifications 2,634 8,199 — 10,833 Amounts reclassified from accumulated other comprehensive income (loss) — (1,442) — (1,442) Net current period other comprehensive income 2,634 6,757 — 9,391 Balance at August 31, 2023 (14,367) 103,471 (1,935) 87,169 Other comprehensive (loss) income before (1,813) 9,099 379 7,665 Amounts reclassified from accumulated other comprehensive income (loss) — (1,495) — (1,495) Net current period other comprehensive (loss) income (1,813) 7,604 379 6,170 Balance at November 30, 2023 $ (16,180) $ 111,075 $ (1,556) $ 93,339 (In thousands) Foreign Unrealized Income Other Total Balance at June 1, 2022 $ 17,006 $ 92,688 $ (1,777) $ 107,917 Other comprehensive (loss) income before (19,206) 934 — (18,272) Amounts reclassified from accumulated other comprehensive income (loss) — (1,521) — (1,521) Net current period other comprehensive loss (19,206) (587) — (19,793) Balance at August 31, 2022 (2,200) 92,101 (1,777) 88,124 Other comprehensive (loss) income before (9,901) 7,394 — (2,507) Amounts reclassified from accumulated other comprehensive income (loss) — (1,521) — (1,521) Net current period other comprehensive (loss) income (9,901) 5,873 — (4,028) Balance at November 30, 2022 $ (12,101) $ 97,974 $ (1,777) $ 84,096 The following table summarizes the reclassifications out of accumulated other comprehensive income (loss): Details about Accumulated Amount Reclassified from Affected Line in the Three Months Ended Six Months Ended (In thousands) November 30, November 30, November 30, November 30, Amortization of interest $ 1,998 $ 2,034 $ 3,927 $ 4,067 Interest expense Tax expense (503) (513) (990) (1,025) Income taxes Amortization of interest rate locks, net of tax $ 1,495 $ 1,521 $ 2,937 $ 3,042

Segment Information

Segment Information	6 Months Ended
	Nov. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information Cintas’ reportable operating segments are Uniform Rental and Facility Services and First Aid and Safety Services. The Uniform Rental and Facility Services reportable operating segment consists of the rental and servicing of uniforms and other garments including flame resistant clothing, mats, mops and shop towels and other ancillary items. In addition to these rental items, restroom cleaning services and supplies, and the sale of items from our catalogs to our customers on route are included within this reportable operating segment. The First Aid and Safety Services reportable operating segment consists of first aid and safety products and services. The remainder of Cintas’ operating segments, which consists of the Fire Protection Services operating segment and the Uniform Direct Sale operating segment, is included in All Other. Cintas evaluates the performance of each operating segment based on several factors of which the primary financial measures are operating segment revenue and income before income taxes. The accounting policies of the operating segments are the same as those described in Note 1 entitled Basis of Presentation. Information related to the operations of Cintas’ reportable operating segments and All Other is set forth below: (In thousands) Uniform Rental First Aid All Corporate (1) Total For the three months ended November 30, 2023 Revenue $ 1,850,542 $ 266,401 $ 260,234 $ — $ 2,377,177 Income (loss) before income taxes $ 399,611 $ 58,531 $ 41,541 $ (25,821) $ 473,862 For the three months ended November 30, 2022 Revenue $ 1,709,987 $ 235,974 $ 228,897 $ — $ 2,174,858 Income (loss) before income taxes $ 369,095 $ 45,495 $ 30,344 $ (28,576) $ 416,358 As of and for the six months ended November 30, 2023 Revenue $ 3,677,367 $ 527,094 $ 515,046 $ — $ 4,719,507 Income (loss) before income taxes $ 806,140 $ 118,111 $ 75,988 $ (49,943) $ 950,296 Total assets $ 7,405,444 $ 733,074 $ 589,795 $ 85,556 $ 8,813,869 As of and for the six months ended November 30, 2022 Revenue $ 3,407,759 $ 470,135 $ 463,418 $ — $ 4,341,312 Income (loss) before income taxes $ 733,866 $ 86,341 $ 64,847 $ (56,141) $ 828,913 Total assets $ 7,142,226 $ 699,184 $ 495,798 $ 89,799 $ 8,427,007 (1)

Litigation and Other Contingenc

Litigation and Other Contingencies	6 Months Ended
	Nov. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Litigation and Other Contingencies	Litigation and Other Contingencies Cintas is subject to legal proceedings, insurance receipts, legal settlements and claims arising from the ordinary course of its business, including personal injury, customer contract, environmental and employment claims. In the opinion of management, the aggregate liability, if any, with respect to such ordinary course of business actions will not have a material adverse effect on the consolidated financial position, consolidated results of operations or consolidated cash flows of Cintas. Cintas is party to additional litigation not considered in the ordinary course of business, including the litigation discussed below. The Company is a defendant in a purported class action lawsuit, City of Laurel, Mississippi v. Cintas Corporation No. 2 , filed on March 12, 2021. This is a contract dispute whereby plaintiffs allege that Cintas breached its contracts with participating public agencies and seek, among other things, contract-based damages in an unspecified amount. In March 2022, the U.S. District Court for the District of Nevada denied Cintas’ motion to compel arbitration, and on March 6, 2023, the Ninth Circuit Court of Appeals affirmed. Any liability in this matter is not probable nor estimable at this time. The Company, the Board of Directors, Scott Farmer (Executive Chairman) and the Investment Policy Committee are defendants in a purported class action, filed on December 13, 2019, pending in the U.S. District Court for the Southern District of Ohio alleging violations of The Employee Retirement Income Security Act of 1974 (ERISA). The lawsuit asserts that the defendants improperly managed the costs of the employee retirement plan, breached their fiduciary duties in failing to investigate and select lower cost alternative funds and failed to monitor and control the employee retirement plan’s recordkeeping costs. In November 2023, an agreement in principle was reached with the plaintiffs, which would require a payment of an immaterial amount that would be covered by the Company's insurance. The settlement remains subject to reaching a definitive agreement and the approval of the U.S. District Court for the Southern District of Ohio. Cintas records an accrual for legal contingencies when Cintas determines that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. As of November 30, 2023 and May 31, 2023, Cintas did not accrue any material amounts for legal contingencies. The litigation discussed above, if decided or settled adversely to Cintas, may result in liability material to Cintas' consolidated financial condition, consolidated results of operations or consolidated cash flows and could increase costs of operations on an ongoing basis. Cintas may enter into discussions regarding settlement of these and other lawsuits and may enter into settlement agreements if it believes such settlement is in the best interest of Cintas' shareholders.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Pay vs Performance Disclosure
Net income	$ 374,613	$ 385,085	$ 324,293	$ 351,689	$ 759,698	$ 675,982

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Nov. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Nov. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The consolidated condensed financial statements of Cintas Corporation (Cintas, the Company, we, us or our) included herein have been prepared by Cintas, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with United States generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. While we believe that the disclosures are adequately presented, we suggest that these consolidated condensed financial statements be read in conjunction with the consolidated financial statements and notes included in our Annual Report on Form 10-K for the fiscal year ended May 31, 2023 (Annual Report) filed with the SEC on July 27, 2023. See Note 1 entitled Significant Accounting Policies of "Notes to Consolidated Financial Statements" of that Annual Report for a summary of our significant accounting policies. There have been no material changes in the accounting policies followed by Cintas during the current fiscal year. Interim results are subject to variations and are not necessarily indicative of the results of operations for a full fiscal year. In the opinion of management, adjustments (which include only normal recurring adjustments) necessary for a fair statement of the consolidated results of the interim periods shown have been made.
Inventory	Inventories, net are valued at the lower of cost (first-in, first-out) or net realizable value.The inventory obsolescence reserve is determined by specific identification, as well as an estimate based on Cintas' historical rates of obsolescence. Once a specific inventory item is written down to the lower of cost or net realizable value, a new cost basis has been established, and that inventory item cannot subsequently be marked up.
New Accounting Pronouncements	There are no new accounting pronouncements recently issued or newly effective that had, or are expected to have, a material impact on Cintas' consolidated condensed financial statements.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	6 Months Ended
	Nov. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Inventory	Inventory is comprised of the following at: (In thousands) November 30, May 31, Raw materials $ 19,283 $ 27,878 Work in process 46,063 56,384 Finished goods 409,494 422,342 Inventories, net $ 474,840 $ 506,604

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Nov. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregated Revenue	The following table presents Cintas' total revenue disaggregated by operating segment: Three Months Ended Six Months Ended (In thousands) November 30, November 30, November 30, November 30, Uniform Rental and $ 1,850,542 77.9 % $ 1,709,987 78.6 % $ 3,677,367 77.9 % $ 3,407,759 78.5 % First Aid and Safety 266,401 11.2 % 235,974 10.9 % 527,094 11.2 % 470,135 10.8 % Fire Protection 173,950 7.3 % 146,602 6.7 % 348,266 7.4 % 298,449 6.9 % Uniform Direct 86,284 3.6 % 82,295 3.8 % 166,780 3.5 % 164,969 3.8 % Total revenue $ 2,377,177 100.0 % $ 2,174,858 100.0 % $ 4,719,507 100.0 % $ 4,341,312 100.0 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Nov. 30, 2023
Leases [Abstract]
Operating Lease Cost and Additional Lease Information	The following table provides supplemental information related to the Company's consolidated condensed statements of cash flows for the six months ended November 30: (In thousands) 2023 2022 Cash paid for amounts included in the measurement of operating lease liabilities $ 25,321 $ 25,108 Operating lease right-of-use assets obtained in exchange for new and renewed $ 22,684 $ 29,186 Operating lease right-of-use assets acquired in business combinations $ 267 $ — Other information related to the operating lease right-of-use assets, net and operating lease liabilities was as follows: November 30, May 31, Weighted-average remaining lease term 5.20 years 5.28 years Weighted-average discount rate 3.14% 2.87%
Contractual Future Minimum Lease Payments of Operating Lease Liabilities	The contractual future minimum lease payments of Cintas' operating lease liabilities by fiscal year are as follows as of November 30, 2023: (In thousands) 2024 (remaining six months) $ 24,842 2025 45,671 2026 37,932 2027 28,682 2028 23,489 Thereafter 38,400 Total payments 199,016 Less interest (16,017) Total present value of lease payments $ 182,999

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Nov. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value of Financial Instruments Measured on a Recurring Basis	These financial instruments measured at fair value on a recurring basis are summarized below: As of November 30, 2023 As of May 31, 2023 (In thousands) Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Fair Value Cash and cash equivalents $ 85,556 $ — $ — $ 85,556 $ 124,149 $ — $ — $ 124,149 Other assets, net: Interest rate lock — 93,669 — 93,669 — 70,449 — 70,449 Total assets at fair $ 85,556 $ 93,669 $ — $ 179,225 $ 124,149 $ 70,449 $ — $ 194,598

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Nov. 30, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following tables set forth the computation of basic and diluted earnings per share using the two-class method for amounts attributable to Cintas’ common shares: Three Months Ended Six Months Ended Basic Earnings per Share (In thousands except per share data) November 30, 2023 November 30, 2022 November 30, 2023 November 30, 2022 Net income $ 374,613 $ 324,293 $ 759,698 $ 675,982 Less: net income allocated to participating securities 1,460 1,372 2,957 2,859 Net income available to common shareholders $ 373,153 $ 322,921 $ 756,741 $ 673,123 Basic weighted average common shares outstanding 101,667 101,637 101,781 101,530 Basic earnings per share $ 3.67 $ 3.18 $ 7.43 $ 6.63 Three Months Ended Six Months Ended Diluted Earnings per Share (In thousands except per share data) November 30, 2023 November 30, 2022 November 30, 2023 November 30, 2022 Net income $ 374,613 $ 324,293 $ 759,698 $ 675,982 Less: net income allocated to participating securities 1,460 1,372 2,957 2,859 Net income available to common shareholders $ 373,153 $ 322,921 $ 756,741 $ 673,123 Basic weighted average common shares outstanding 101,667 101,637 101,781 101,530 Effect of dilutive securities – employee stock options 1,599 1,719 1,637 1,813 Diluted weighted average common shares outstanding 103,266 103,356 103,418 103,343 Diluted earnings per share $ 3.61 $ 3.12 $ 7.32 $ 6.51
Buyback Activity by Program	The following table summarizes the share buyback activity by program and period: Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 Buyback Activity (In thousands except per share data) Shares Avg. Price Purchase Shares Avg. Price Purchase July 27, 2021 658 $ 486.58 $ 320,266 658 $ 486.58 $ 320,266 July 26, 2022 — — — — — — 658 $ 486.58 $ 320,266 658 $ 486.58 $ 320,266 Shares acquired for taxes due (1) 58 $ 518.89 $ 29,586 203 $ 507.61 $ 102,862 Total repurchase of Cintas common stock $ 349,852 $ 423,128 Three Months Ended Six Months Ended November 30, 2022 November 30, 2022 Buyback Activity (In thousands except per share data) Shares Avg. Price Purchase Shares Avg. Price Purchase July 27, 2021 12 $ 377.66 $ 4,683 544 $ 395.97 $ 215,434 July 26, 2022 — — — — — — 12 $ 377.66 $ 4,683 544 $ 395.97 $ 215,434 Shares acquired for taxes due (1) 56 $ 423.64 $ 23,665 326 $ 408.97 $ 133,248 Total repurchase of Cintas common stock $ 28,348 $ 348,682 (1) Shares of Cintas common stock acquired for employee payroll taxes due on options exercised and vested restricted stock awards. Three Months Ended Six Months Ended November 30, 2023 November 30, 2023 (In thousands except per share data) Shares Avg. Price Non-Cash Shares Avg. Price Non-Cash Non-cash transaction activity 68 $ 514.75 $ 35,087 186 $ 506.82 $ 94,300 Three Months Ended Six Months Ended November 30, 2022 November 30, 2022 Shares Avg. Price Non-Cash Shares Avg. Price Non-Cash Non-cash transaction activity 66 $ 421.85 $ 27,975 260 $ 414.46 $ 107,566

Goodwill, Service Contracts a_2

Goodwill, Service Contracts and Other Assets, Net (Tables)	6 Months Ended
	Nov. 30, 2023
Goodwill, Service Contracts And Other Assets [Abstract]
Changes in Carrying Amount of Goodwill by Operating Segment	Changes in the carrying amount of goodwill and service contracts for the six months ended November 30, 2023, by reportable operating segment and All Other, are as follows: Goodwill (In thousands) Uniform Rental First Aid All Total Balance as of June 1, 2023 $ 2,636,607 $ 292,868 $ 126,726 $ 3,056,201 Goodwill acquired 49,737 962 13,361 64,060 Foreign currency translation 224 20 1 245 Balance as of November 30, 2023 $ 2,686,568 $ 293,850 $ 140,088 $ 3,120,506
Changes in the Carrying Amount of Service Contracts by Operating Segment	Service Contracts (In thousands) Uniform Rental First Aid All Total Balance as of June 1, 2023 $ 310,030 $ 21,157 $ 15,387 $ 346,574 Service contracts acquired 7,632 290 1,558 9,480 Service contracts amortization (22,103) (2,627) (1,908) (26,638) Foreign currency translation 86 9 — 95 Balance as of November 30, 2023 $ 295,645 $ 18,829 $ 15,037 $ 329,511
Information Regarding Service Contracts and Other Assets	Information regarding Cintas’ service contracts and other assets, net is as follows: As of November 30, 2023 As of May 31, 2023 (In thousands) Carrying Accumulated Net Carrying Accumulated Net Service contracts $ 1,014,332 $ 684,821 $ 329,511 $ 1,004,754 $ 658,180 $ 346,574 Capitalized contract costs (1) $ 721,921 $ 463,307 $ 258,614 $ 665,705 $ 413,680 $ 252,025 Noncompete and 224,489 68,976 155,513 198,260 67,294 130,966 Total other assets, net $ 946,410 $ 532,283 $ 414,127 $ 863,965 $ 480,974 $ 382,991 (1)
Finite-lived Intangible Assets Amortization Expense	As of November 30, 2023, the estimated future amortization expense for service contracts and other assets, excluding any future acquisitions and commissions to be earned, is as follows: Fiscal Year (In thousands) 2024 (remaining six months) $ 77,591 2025 142,842 2026 121,587 2027 98,902 2028 75,019 Thereafter 176,763 Total future amortization expense $ 692,704

Debt, Derivatives and Hedging_2

Debt, Derivatives and Hedging Activities (Tables)	6 Months Ended
	Nov. 30, 2023
Debt Disclosure [Abstract]
Summary of Outstanding Debt	Cintas' outstanding debt is summarized as follows: (In thousands) Interest Fiscal Year Fiscal Year November 30, May 31, Debt due within one year Commercial paper 5.52 % (1) 2024 2024 $ 210,000 $ — Total debt due within one year $ 210,000 $ — Debt due after one year Senior notes (2) 3.11 % 2015 2025 $ 50,462 $ 50,630 Senior notes 3.45 % 2022 2025 400,000 400,000 Senior notes 3.70 % 2017 2027 1,000,000 1,000,000 Senior notes 4.00 % 2022 2032 800,000 800,000 Senior notes 6.15 % 2007 2037 236,550 250,000 Debt issuance costs (12,725) (14,225) Total debt due after one year $ 2,474,287 $ 2,486,405 (1) Variable rate debt instrument. The rate presented is the variable borrowing rate at November 30, 2023. (2)
Schedule of Interest Rate Lock Agreements	The fair values of the outstanding interest rate locks, for forecasted debt issuances, are summarized as follows: November 30, 2023 May 31, 2023 Fiscal Year of Issuance (In thousands) Other Other 2022 $ 56,054 $ 44,803 2020 $ 37,615 $ 25,646

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Nov. 30, 2023
Equity [Abstract]
Schedule of Changes in Accumulated Other Comprehensive (Loss) Income	The following tables summarize the changes in the accumulated balances for each component of accumulated other comprehensive income (loss), net of tax: (In thousands) Foreign Unrealized Income Other Total Balance at June 1, 2023 $ (17,001) $ 96,714 $ (1,935) $ 77,778 Other comprehensive income before reclassifications 2,634 8,199 — 10,833 Amounts reclassified from accumulated other comprehensive income (loss) — (1,442) — (1,442) Net current period other comprehensive income 2,634 6,757 — 9,391 Balance at August 31, 2023 (14,367) 103,471 (1,935) 87,169 Other comprehensive (loss) income before (1,813) 9,099 379 7,665 Amounts reclassified from accumulated other comprehensive income (loss) — (1,495) — (1,495) Net current period other comprehensive (loss) income (1,813) 7,604 379 6,170 Balance at November 30, 2023 $ (16,180) $ 111,075 $ (1,556) $ 93,339 (In thousands) Foreign Unrealized Income Other Total Balance at June 1, 2022 $ 17,006 $ 92,688 $ (1,777) $ 107,917 Other comprehensive (loss) income before (19,206) 934 — (18,272) Amounts reclassified from accumulated other comprehensive income (loss) — (1,521) — (1,521) Net current period other comprehensive loss (19,206) (587) — (19,793) Balance at August 31, 2022 (2,200) 92,101 (1,777) 88,124 Other comprehensive (loss) income before (9,901) 7,394 — (2,507) Amounts reclassified from accumulated other comprehensive income (loss) — (1,521) — (1,521) Net current period other comprehensive (loss) income (9,901) 5,873 — (4,028) Balance at November 30, 2022 $ (12,101) $ 97,974 $ (1,777) $ 84,096
Schedule of Reclassifications Out of Accumulated Other Comprehensive (Loss) Income	The following table summarizes the reclassifications out of accumulated other comprehensive income (loss): Details about Accumulated Amount Reclassified from Affected Line in the Three Months Ended Six Months Ended (In thousands) November 30, November 30, November 30, November 30, Amortization of interest $ 1,998 $ 2,034 $ 3,927 $ 4,067 Interest expense Tax expense (503) (513) (990) (1,025) Income taxes Amortization of interest rate locks, net of tax $ 1,495 $ 1,521 $ 2,937 $ 3,042

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Nov. 30, 2023
Segment Reporting [Abstract]
Information Related to Operating Segments	Information related to the operations of Cintas’ reportable operating segments and All Other is set forth below: (In thousands) Uniform Rental First Aid All Corporate (1) Total For the three months ended November 30, 2023 Revenue $ 1,850,542 $ 266,401 $ 260,234 $ — $ 2,377,177 Income (loss) before income taxes $ 399,611 $ 58,531 $ 41,541 $ (25,821) $ 473,862 For the three months ended November 30, 2022 Revenue $ 1,709,987 $ 235,974 $ 228,897 $ — $ 2,174,858 Income (loss) before income taxes $ 369,095 $ 45,495 $ 30,344 $ (28,576) $ 416,358 As of and for the six months ended November 30, 2023 Revenue $ 3,677,367 $ 527,094 $ 515,046 $ — $ 4,719,507 Income (loss) before income taxes $ 806,140 $ 118,111 $ 75,988 $ (49,943) $ 950,296 Total assets $ 7,405,444 $ 733,074 $ 589,795 $ 85,556 $ 8,813,869 As of and for the six months ended November 30, 2022 Revenue $ 3,407,759 $ 470,135 $ 463,418 $ — $ 4,341,312 Income (loss) before income taxes $ 733,866 $ 86,341 $ 64,847 $ (56,141) $ 828,913 Total assets $ 7,142,226 $ 699,184 $ 495,798 $ 89,799 $ 8,427,007 (1)

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Thousands	Nov. 30, 2023	May 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 19,283	$ 27,878
Work in process	46,063	56,384
Finished goods	409,494	422,342
Inventories, net	474,840	506,604
Reserves for obsolete inventory	$ 73,600	$ 80,100

Revenue Recognition - Schedule

Revenue Recognition - Schedule of Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 2,377,177	$ 2,174,858	$ 4,719,507	$ 4,341,312
Uniform Rental and Facility Services
Disaggregation of Revenue [Line Items]
Revenue	1,850,542	1,709,987	3,677,367	3,407,759
First Aid and Safety Services
Disaggregation of Revenue [Line Items]
Revenue	266,401	235,974	527,094	470,135
Fire Protection Services
Disaggregation of Revenue [Line Items]
Revenue	173,950	146,602	348,266	298,449
Uniform Direct Sales
Disaggregation of Revenue [Line Items]
Revenue	$ 86,284	$ 82,295	$ 166,780	$ 164,969
Revenue | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of revenue	100%	100%	100%	100%
Revenue | Product Concentration Risk | Uniform Rental and Facility Services
Disaggregation of Revenue [Line Items]
Percentage of revenue	77.90%	78.60%	77.90%	78.50%
Revenue | Product Concentration Risk | First Aid and Safety Services
Disaggregation of Revenue [Line Items]
Percentage of revenue	11.20%	10.90%	11.20%	10.80%
Revenue | Product Concentration Risk | Fire Protection Services
Disaggregation of Revenue [Line Items]
Percentage of revenue	7.30%	6.70%	7.40%	6.90%
Revenue | Product Concentration Risk | Uniform Direct Sales
Disaggregation of Revenue [Line Items]
Percentage of revenue	3.60%	3.80%	3.50%	3.80%

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Disaggregation of Revenue [Line Items]
Deferred commissions, current	$ 93.9		$ 93.9		$ 92.5
Deferred commissions, noncurrent	258.6		258.6		$ 251.6
Amortization of deferred commissions	$ 25.2	$ 23.4	$ 49.6	$ 45.8
Revenue | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of revenue	100%	100%	100%	100%
Uniform Rental and Facility Services, First Aid and Safety Services and Fire Protection Services | Revenue | Product Concentration Risk | Route Servicing Fees
Disaggregation of Revenue [Line Items]
Percentage of revenue			95%
Uniform Direct Sales | Revenue | Product Concentration Risk
Disaggregation of Revenue [Line Items]
Percentage of revenue	3.60%	3.80%	3.50%	3.80%
Uniform Direct Sales | Revenue | Product Concentration Risk | Other
Disaggregation of Revenue [Line Items]
Percentage of revenue			5%

Leases - Operating Lease Cost a

Leases - Operating Lease Cost and Additional Lease Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Leases [Abstract]
Operating lease costs	$ 20,800	$ 20,000	$ 40,500	$ 39,500
Other information related to operating leases
Cash paid for amounts included in the measurement of operating lease liabilities			25,321	25,108
Operating lease right-of-use assets obtained in exchange for new and renewed operating lease liabilities			22,684	29,186
Operating lease right-of-use assets acquired in business combinations			$ 267	$ 0
Weighted-average remaining lease term	5 years 2 months 12 days		5 years 2 months 12 days		5 years 3 months 10 days
Weighted-average discount rate	3.14%		3.14%		2.87%

Leases - Contractual Future Min

Leases - Contractual Future Minimum Lease Payments (Details) $ in Thousands	Nov. 30, 2023 USD ($)
Leases [Abstract]
2024 (remaining six months)	$ 24,842
2025	45,671
2026	37,932
2027	28,682
2028	23,489
Thereafter	38,400
Total payments	199,016
Less interest	(16,017)
Total present value of lease payments	$ 182,999

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Nov. 30, 2023	May 31, 2023
Fair value on a recurring basis
Cash and cash equivalents	$ 85,556	$ 124,149
Other assets, net:
Total assets at fair value	179,225	194,598
Interest rate lock agreements
Other assets, net:
Interest rate lock agreements	93,669	70,449
Level 1
Fair value on a recurring basis
Cash and cash equivalents	85,556	124,149
Other assets, net:
Total assets at fair value	85,556	124,149
Level 1 | Interest rate lock agreements
Other assets, net:
Interest rate lock agreements	0	0
Level 2
Fair value on a recurring basis
Cash and cash equivalents	0	0
Other assets, net:
Total assets at fair value	93,669	70,449
Level 2 | Interest rate lock agreements
Other assets, net:
Interest rate lock agreements	93,669	70,449
Level 3
Fair value on a recurring basis
Cash and cash equivalents	0	0
Other assets, net:
Total assets at fair value	0	0
Level 3 | Interest rate lock agreements
Other assets, net:
Interest rate lock agreements	$ 0	$ 0

Earnings Per Share - Computatio

Earnings Per Share - Computation of EPS (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Basic earnings per share:
Net income	$ 374,613	$ 324,293	$ 759,698	$ 675,982
Less: net income allocated to participating securities	1,460	1,372	2,957	2,859
Net income available to common shareholders	$ 373,153	$ 322,921	$ 756,741	$ 673,123
Basic weighted average common shares outstanding (in shares)	101,667	101,637	101,781	101,530
Basic earnings per share (in dollars per share)	$ 3.67	$ 3.18	$ 7.43	$ 6.63
Diluted earnings per share:
Net income	$ 374,613	$ 324,293	$ 759,698	$ 675,982
Less: net income allocated to participating securities	1,460	1,372	2,957	2,859
Net income available to common shareholders	$ 373,153	$ 322,921	$ 756,741	$ 673,123
Basic weighted average common shares outstanding (in shares)	101,667	101,637	101,781	101,530
Effect of dilutive securities - employee stock options (in shares)	1,599	1,719	1,637	1,813
Diluted weighted average common shares outstanding (in shares)	103,266	103,356	103,418	103,343
Diluted earnings per share (in dollars per share)	$ 3.61	$ 3.12	$ 7.32	$ 6.51

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	Jul. 26, 2022	Jul. 27, 2021
Earnings Per Share [Abstract]
Options granted and excluded from the computation of diluted earnings per share (in shares)	0.5	1.1	0.3	0.9
July 27, 2021 Plan
Equity, Class of Treasury Stock [Line Items]
Share buyback program, authorized amount						$ 1,500,000,000
July 26, 2022 Plan
Equity, Class of Treasury Stock [Line Items]
Share buyback program, authorized amount					$ 1,000,000,000

Earnings Per Share - Summary of

Earnings Per Share - Summary of Buyback Activity by Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Equity, Class of Treasury Stock [Line Items]
Stock purchased under share buyback	$ 349,852	$ 73,276	$ 28,348	$ 320,334	$ 423,128	$ 348,682
Shares acquired for taxes due (in shares)	58		56		203	326
Shares acquired for taxes due, average price (in dollars per share)	$ 518.89		$ 423.64		$ 507.61	$ 408.97
Shares acquired for taxes due	$ 29,586		$ 23,665		$ 102,862	$ 133,248
Share Buyback Programs
Equity, Class of Treasury Stock [Line Items]
Stock purchased under share buyback (in shares)	658		12		658	544
Stock purchased under share buyback, average price (in dollars per share)	$ 486.58		$ 377.66		$ 486.58	$ 395.97
Stock purchased under share buyback	$ 320,266		$ 4,683		$ 320,266	$ 215,434
July 27, 2021 Plan
Equity, Class of Treasury Stock [Line Items]
Stock purchased under share buyback (in shares)	658		12		658	544
Stock purchased under share buyback, average price (in dollars per share)	$ 486.58		$ 377.66		$ 486.58	$ 395.97
Stock purchased under share buyback	$ 320,266		$ 4,683		$ 320,266	$ 215,434
July 26, 2022 Plan
Equity, Class of Treasury Stock [Line Items]
Stock purchased under share buyback (in shares)	0		0		0	0
Stock purchased under share buyback, average price (in dollars per share)	$ 0		$ 0		$ 0	$ 0
Stock purchased under share buyback	$ 0		$ 0		$ 0	$ 0

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Non Cash Buyback Activity by Program (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Equity, Class of Treasury Stock [Line Items]
Stock purchased under share buyback	$ 349,852	$ 73,276	$ 28,348	$ 320,334	$ 423,128	$ 348,682
Noncash Share Repurchase Transaction
Equity, Class of Treasury Stock [Line Items]
Stock purchased under share buyback (in shares)	68		66		186	260
Stock purchased under share buyback, average price (in dollars per share)	$ 514.75		$ 421.85		$ 506.82	$ 414.46
Stock purchased under share buyback	$ 35,087		$ 27,975		$ 94,300	$ 107,566

Goodwill, Service Contracts a_3

Goodwill, Service Contracts and Other Assets, Net - Goodwill (Details) $ in Thousands	6 Months Ended
	Nov. 30, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 3,056,201
Goodwill acquired	64,060
Foreign currency translation	245
Ending balance	3,120,506
Uniform Rental and Facility Services
Goodwill [Roll Forward]
Beginning balance	2,636,607
Goodwill acquired	49,737
Foreign currency translation	224
Ending balance	2,686,568
First Aid and Safety Services
Goodwill [Roll Forward]
Beginning balance	292,868
Goodwill acquired	962
Foreign currency translation	20
Ending balance	293,850
All Other
Goodwill [Roll Forward]
Beginning balance	126,726
Goodwill acquired	13,361
Foreign currency translation	1
Ending balance	$ 140,088

Goodwill, Service Contracts a_4

Goodwill, Service Contracts and Other Assets, Net - Service Contracts (Details) $ in Thousands	6 Months Ended
	Nov. 30, 2023 USD ($)
Service contracts [Roll Forward]
Ending balance	$ 692,704
Service Contracts
Service contracts [Roll Forward]
Beginning balance	346,574
Service contracts acquired	9,480
Service contracts amortization	(26,638)
Foreign currency translation	95
Ending balance	329,511
Service Contracts | Uniform Rental and Facility Services
Service contracts [Roll Forward]
Beginning balance	310,030
Service contracts acquired	7,632
Service contracts amortization	(22,103)
Foreign currency translation	86
Ending balance	295,645
Service Contracts | First Aid and Safety Services
Service contracts [Roll Forward]
Beginning balance	21,157
Service contracts acquired	290
Service contracts amortization	(2,627)
Foreign currency translation	9
Ending balance	18,829
Service Contracts | All Other
Service contracts [Roll Forward]
Beginning balance	15,387
Service contracts acquired	1,558
Service contracts amortization	(1,908)
Foreign currency translation	0
Ending balance	$ 15,037

Goodwill, Service Contracts a_5

Goodwill, Service Contracts and Other Assets, Net - Information Regarding Service Contracts and Other Assets, Net (Details) - USD ($) $ in Thousands	Nov. 30, 2023	May 31, 2023
Information regarding service contracts and other assets
Total future amortization expense	$ 692,704
Other assets, carrying amount	946,410	$ 863,965
Other assets, accumulated amortization	532,283	480,974
Other assets, net	414,127	382,991
Capitalized contract costs
Information regarding service contracts and other assets
Other assets, carrying amount	721,921	665,705
Other assets, accumulated amortization	463,307	413,680
Other assets, net	258,614	252,025
Other assets current	93,900	92,500
Noncompete and consulting agreements and other
Information regarding service contracts and other assets
Other assets, carrying amount	224,489	198,260
Other assets, accumulated amortization	68,976	67,294
Other assets, net	155,513	130,966
Service Contracts
Information regarding service contracts and other assets
Service contracts, carrying amount	1,014,332	1,004,754
Service contracts, accumulated amortization	684,821	658,180
Total future amortization expense	$ 329,511	$ 346,574

Goodwill, Service Contracts a_6

Goodwill, Service Contracts and Other Assets, Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Goodwill, Service Contracts And Other Assets [Abstract]
Amortization expense for service contracts and other assets	$ 39.4	$ 37.3	$ 77.9	$ 73.7

Goodwill, Service Contracts a_7

Goodwill, Service Contracts and Other Assets, Net - Finite-lived Intangible Assets Amortization Expense (Details) $ in Thousands	Nov. 30, 2023 USD ($)
Goodwill, Service Contracts And Other Assets [Abstract]
2024 (remaining six months)	$ 77,591
2025	142,842
2026	121,587
2027	98,902
2028	75,019
Thereafter	176,763
Total future amortization expense	$ 692,704

Debt, Derivatives and Hedging_3

Debt, Derivatives and Hedging Activities - Summary of Debt Outstanding (Details) - USD ($)	Nov. 30, 2023	May 31, 2023
Debt due within one year
Debt due within one year	$ 210,000,000	$ 0
Debt due after one year
Debt issuance costs	(12,725,000)	(14,225,000)
Total debt due after one year	2,474,287,000	2,486,405,000
Senior notes | Senior Notes, 3.11%, 2025 Maturity
Debt due after one year
Debt due after one year, gross	$ 50,462,000	50,630,000
Effective interest rate	3.11%
Senior notes | Senior Notes, 3.11%, 2025 Maturity | G&K Services
Debt due after one year
Stated interest rate	3.88%
Face value	$ 50,000,000
Senior notes | Senior Notes 3.45%, 2025 Maturity
Debt due after one year
Debt due after one year, gross	$ 400,000,000	400,000,000
Stated interest rate	3.45%
Senior notes | Senior Notes, 3.70%, 2027 Maturity
Debt due after one year
Debt due after one year, gross	$ 1,000,000,000	1,000,000,000
Stated interest rate	3.70%
Senior notes | Senior Notes 4.00%, 2032 Maturity
Debt due after one year
Debt due after one year, gross	$ 800,000,000	800,000,000
Stated interest rate	4%
Senior notes | Senior Notes, 6.15%, 2037 Maturity
Debt due after one year
Debt due after one year, gross	$ 236,550,000	250,000,000
Stated interest rate	6.15%
Commercial paper
Debt due within one year
Debt due within one year	$ 210,000,000	$ 0
Debt due after one year
Variable borrowing rate	5.52%

Debt, Derivatives and Hedging_4

Debt, Derivatives and Hedging Activities - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Debt Instrument [Line Items]
Debt, carrying value	$ 2,486,600,000		$ 2,486,600,000		$ 2,500,000,000
Debt, fair value	2,396,500,000		2,396,500,000		2,443,800,000
Issuance of commercial paper			210,000,000	$ 124,000,000
Amortization of interest rate lock agreements - decrease to other comprehensive income (loss)	1,500,000	$ 1,500,000	2,900,000	$ 3,000,000
Notional value	500,000,000		500,000,000		500,000,000
Commercial paper
Debt Instrument [Line Items]
Commercial paper	$ 210,000,000		$ 210,000,000		0
Weighted average interest rate	5.52%		5.52%
Revolving credit facility
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity with accordion feature	$ 2,000,000,000		$ 2,000,000,000
Debt amendment, increase limit (up to)	500,000,000		500,000,000
Revolving credit facility amount outstanding	0		0		$ 0
Senior Notes, 6.15%, 2037 Maturity | Senior notes
Debt Instrument [Line Items]
Repayment of debt	$ 3,500,000		$ 13,500,000
Stated interest rate	6.15%		6.15%
Debt term	30 years
Loss recognized	$ 100,000		$ 900,000

Debt, Derivatives and Hedging_5

Debt, Derivatives and Hedging Activities - Interest Rate Lock Agreements (Details) - USD ($) $ in Thousands	Nov. 30, 2023	May 31, 2023
Interest Rate Contract, 2022
Derivatives, Fair Value [Line Items]
Derivative assets	$ 56,054	$ 44,803
Interest Rate Contract, 2020
Derivatives, Fair Value [Line Items]
Derivative assets	$ 37,615	$ 25,646

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 31.3		$ 31.3		$ 29.3
Effective tax rate	20.90%	22.10%	20.10%	18.40%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 4,077,635	$ 3,863,986	$ 3,229,626	$ 3,308,196	$ 3,863,986	$ 3,308,196
Other comprehensive (loss) income before reclassifications	7,665	10,833	(2,507)	(18,272)
Amounts reclassified from accumulated other comprehensive income (loss)	(1,495)	(1,442)	(1,521)	(1,521)
Other comprehensive income (loss), net of tax expense of $2,742, $2,018, $5,061 and $1,826, respectively	6,170	9,391	(4,028)	(19,793)	15,561	(23,821)
Ending balance	3,994,481	4,077,635	3,430,538	3,229,626	3,994,481	3,430,538
Total
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	87,169	77,778	88,124	107,917	77,778	107,917
Other comprehensive income (loss), net of tax expense of $2,742, $2,018, $5,061 and $1,826, respectively	6,170	9,391	(4,028)	(19,793)
Ending balance	93,339	87,169	84,096	88,124	93,339	84,096
Foreign Currency
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(14,367)	(17,001)	(2,200)	17,006	(17,001)	17,006
Other comprehensive (loss) income before reclassifications	(1,813)	2,634	(9,901)	(19,206)
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax expense of $2,742, $2,018, $5,061 and $1,826, respectively	(1,813)	2,634	(9,901)	(19,206)
Ending balance	(16,180)	(14,367)	(12,101)	(2,200)	(16,180)	(12,101)
Unrealized Income on Interest Rate Locks
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	103,471	96,714	92,101	92,688	96,714	92,688
Other comprehensive (loss) income before reclassifications	9,099	8,199	7,394	934
Amounts reclassified from accumulated other comprehensive income (loss)	(1,495)	(1,442)	(1,521)	(1,521)
Other comprehensive income (loss), net of tax expense of $2,742, $2,018, $5,061 and $1,826, respectively	7,604	6,757	5,873	(587)
Ending balance	111,075	103,471	97,974	92,101	111,075	97,974
Other
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(1,935)	(1,935)	(1,777)	(1,777)	(1,935)	(1,777)
Other comprehensive (loss) income before reclassifications	379	0	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0	0	0
Other comprehensive income (loss), net of tax expense of $2,742, $2,018, $5,061 and $1,826, respectively	379	0	0	0
Ending balance	$ (1,556)	$ (1,935)	$ (1,777)	$ (1,777)	$ (1,556)	$ (1,777)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Schedule of Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 26,590		$ 28,920		$ 51,134	$ 56,640
Income taxes	(99,249)		(92,065)		(190,598)	(152,931)
Net income	374,613	$ 385,085	324,293	$ 351,689	759,698	675,982
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Unrealized Income on Interest Rate Locks
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income taxes	(503)		(513)		(990)	(1,025)
Net income	1,495		1,521		2,937	3,042
Amount Reclassified from Accumulated Other Comprehensive Income (Loss) | Unrealized Income on Interest Rate Locks | Interest Rate Locks
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 1,998		$ 2,034		$ 3,927	$ 4,067

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Segment Reporting Information
Revenue	$ 2,377,177	$ 2,174,858	$ 4,719,507	$ 4,341,312
Income (loss) before income taxes	473,862	416,358	950,296	828,913
Total assets	8,813,869	8,427,007	8,813,869	8,427,007	$ 8,546,356
Uniform Rental and Facility Services
Segment Reporting Information
Revenue	1,850,542	1,709,987	3,677,367	3,407,759
First Aid and Safety Services
Segment Reporting Information
Revenue	266,401	235,974	527,094	470,135
Operating Segments | Uniform Rental and Facility Services
Segment Reporting Information
Revenue	1,850,542	1,709,987	3,677,367	3,407,759
Income (loss) before income taxes	399,611	369,095	806,140	733,866
Total assets	7,405,444	7,142,226	7,405,444	7,142,226
Operating Segments | First Aid and Safety Services
Segment Reporting Information
Revenue	266,401	235,974	527,094	470,135
Income (loss) before income taxes	58,531	45,495	118,111	86,341
Total assets	733,074	699,184	733,074	699,184
Operating Segments | All Other
Segment Reporting Information
Revenue	260,234	228,897	515,046	463,418
Income (loss) before income taxes	41,541	30,344	75,988	64,847
Total assets	589,795	495,798	589,795	495,798
Corporate
Segment Reporting Information
Revenue	0	0	0	0
Income (loss) before income taxes	(25,821)	(28,576)	(49,943)	(56,141)
Total assets	$ 85,556	$ 89,799	$ 85,556	$ 89,799