Cintas Corp., adjusted current assets

US$ in thousands

	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
As Reported
Current assets	3,185,207)	2,938,459)	2,631,983)	2,843,309)	2,309,699)	2,236,280)
Adjustments
Add: Allowance for credit losses	17,914)	14,926)	12,918)	12,097)	62,167)	37,809)
After Adjustment
Adjusted current assets	3,203,121)	2,953,385)	2,644,901)	2,855,406)	2,371,866)	2,274,089)

Download chart

Cintas Corp., adjusted total assets

US$ in thousands

	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
As Reported
Total assets	9,168,817)	8,546,356)	8,147,256)	8,236,823)	7,669,885)	7,436,662)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)	198,864)
Add: Allowance for credit losses	17,914)	14,926)	12,918)	12,097)	62,167)	37,809)
After Adjustment
Adjusted total assets	9,186,731)	8,561,282)	8,160,174)	8,248,920)	7,732,052)	7,673,335)

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

Download chart

Cintas Corp., adjusted total liabilities

US$ in thousands

	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
As Reported
Total liabilities	4,852,445)	4,682,370)	4,839,060)	4,548,976)	4,434,683)	4,433,941)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)	198,864)
Less: Deferred tax liabilities²	475,512)	498,356)	473,777)	386,647)	388,579)	438,179)
After Adjustment
Adjusted total liabilities	4,376,933)	4,184,014)	4,365,283)	4,162,329)	4,046,104)	4,194,626)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Deferred tax liabilities. See details »

Download chart

Cintas Corp., adjusted shareholders’ equity

US$ in thousands

	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
As Reported
Shareholders’ equity	4,316,372)	3,863,986)	3,308,196)	3,687,847)	3,235,202)	3,002,721)
Adjustments
Less: Net deferred tax asset (liability)¹	(475,512)	(498,356)	(473,777)	(386,647)	(388,579)	(438,179)
Add: Allowance for credit losses	17,914)	14,926)	12,918)	12,097)	62,167)	37,809)
After Adjustment
Adjusted shareholders’ equity	4,809,798)	4,377,268)	3,794,891)	4,086,591)	3,685,948)	3,478,709)

¹ Net deferred tax asset (liability). See details »

Download chart

Cintas Corp., adjusted capitalization table

US$ in thousands

	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
As Reported
Debt due within one year	449,595)	—)	311,574)	899,070)	—)	312,264)
Debt due after one year	2,025,934)	2,486,405)	2,483,932)	1,642,833)	2,539,705)	2,537,507)
Total reported debt	2,475,529)	2,486,405)	2,795,506)	2,541,903)	2,539,705)	2,849,771)
Shareholders’ equity	4,316,372)	3,863,986)	3,308,196)	3,687,847)	3,235,202)	3,002,721)
Total reported capital	6,791,901)	6,350,391)	6,103,702)	6,229,750)	5,774,907)	5,852,492)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	—)	198,864)
Add: Operating lease liabilities, current²	45,727)	43,710)	43,872)	43,850)	43,031)	—)
Add: Operating lease liabilities, long-term³	146,824)	138,278)	129,064)	130,774)	122,695)	—)
Adjusted total debt	2,668,080)	2,668,393)	2,968,442)	2,716,527)	2,705,431)	3,048,635)
Adjustments to Equity
Less: Net deferred tax asset (liability)⁴	(475,512)	(498,356)	(473,777)	(386,647)	(388,579)	(438,179)
Add: Allowance for credit losses	17,914)	14,926)	12,918)	12,097)	62,167)	37,809)
Adjusted shareholders’ equity	4,809,798)	4,377,268)	3,794,891)	4,086,591)	3,685,948)	3,478,709)
After Adjustment
Adjusted total capital	7,477,878)	7,045,661)	6,763,333)	6,803,118)	6,391,379)	6,527,344)

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease liabilities, current. See details »

³ Operating lease liabilities, long-term. See details »

⁴ Net deferred tax asset (liability). See details »

Download chart

Cintas Corp., adjusted net income

US$ in thousands

12 months ended:	May 31, 2024	May 31, 2023	May 31, 2022	May 31, 2021	May 31, 2020	May 31, 2019
As Reported
Net income	1,571,592)	1,348,010)	1,235,757)	1,110,968)	876,037)	884,981)
Adjustments
Add: Deferred income tax expense (benefit)¹	(30,500)	26,931)	51,635)	(42,080)	(13,292)	34,759)
Add: Increase (decrease) in allowance for credit losses	2,988)	2,008)	821)	(23,336)	24,358)	4,299)
Less: Income (loss) from discontinued operations, net of tax	—)	—)	—)	—)	(323)	2,346)
Add: Other comprehensive income (loss), net of tax	13,423)	(30,139)	77,029)	184,268)	(116,203)	(55,495)
After Adjustment
Adjusted net income	1,557,503)	1,346,810)	1,365,242)	1,229,820)	771,223)	866,198)

¹ Deferred income tax expense (benefit). See details »

Download chart

Cintas Corp. (NASDAQ:CTAS)

Adjustments to Financial Statements