v3.24.1
Debt, Derivatives and Hedging Activities (Tables)
 9 Months Ended
Feb. 29, 2024
Debt Disclosure [Abstract]  
Schedule of Outstanding Debt
Cintas' outstanding debt is summarized as follows:
(In thousands)Interest
 Rate		Fiscal Year
Issued		Fiscal Year
Maturity		February 29,
2024		May 31,
2023
Debt due after one year
Senior notes (1)
3.11 %20152025$50,378 $50,630 
Senior notes3.45 %20222025400,000 400,000 
Senior notes3.70 %201720271,000,000 1,000,000 
Senior notes4.00 %20222032800,000 800,000 
Senior notes6.15 %20072037236,550 250,000 
Debt issuance costs(12,020)(14,225)
Total debt due after one year$2,474,908 $2,486,405 
(1)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%.
Schedule of Interest Rate Lock Agreements The fair values of the outstanding interest rate locks, for forecasted debt issuances, are summarized as follows:
February 29, 2024May 31, 2023
Fiscal Year of Issuance
(In thousands)
Other
assets, net		Other
assets, net
2022$52,867 $44,803 
2020$34,034 $25,646