Item 16. Form 10-K Summary
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Item 16. Form 10-K Summary
None.
Signatures
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| CINTAS CORPORATION | ||
| By: | /s/ | Scott D. Farmer |
| Scott D. Farmer | ||
| Chairman and Chief Executive Officer |
DATE SIGNED: July 27, 2018
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| Signature | Capacity | Date | |||
| /s/ | Scott D. Farmer Scott D. Farmer | Chairman of the Board of Directors and Chief Executive Officer (Principal Executive Officer) | July 27, 2018 | ||
| /s/ | Ronald W. Tysoe Ronald W. Tysoe | Director | July 27, 2018 | ||
| /s/ | John F. Barrett John F. Barrett | Director | July 27, 2018 | ||
| /s/ | James J. Johnson James J. Johnson | Director | July 27, 2018 | ||
| /s/ | Robert E. Coletti Robert E. Coletti | Director | July 27, 2018 | ||
| /s/ | J. Michael Hansen J. Michael Hansen | Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer) | July 27, 2018 |
Cintas Corporation
Schedule II — Valuation and Qualifying Accounts and Reserves
| (In thousands) | Balance at Beginning of Year | Additions (1) | Deductions (2) | Balance at End of Year | |||||||||||
| Allowance for Doubtful Accounts | |||||||||||||||
| May 31, 2016 | $ | 15,497 | $ | 8,274 | $ | 4,668 | $ | 19,103 | |||||||
| May 31, 2017 | $ | 19,103 | $ | 6,446 | $ | 5,024 | $ | 20,525 | |||||||
| May 31, 2018 | $ | 20,525 | $ | 13,358 | $ | 373 | $ | 33,510 | |||||||
| Reserve for Obsolete Inventory | |||||||||||||||
| May 31, 2016 | $ | 30,531 | $ | 5,195 | $ | 3,010 | $ | 32,716 | |||||||
| May 31, 2017 | $ | 32,716 | $ | 10,049 | $ | 4,460 | $ | 38,305 | |||||||
| May 31, 2018 | $ | 38,305 | $ | 1,335 | $ | 2,597 | $ | 37,043 |
| (1) | Represents amounts charged to expense to increase reserve for estimated future bad debts or to increase reserve for obsolete inventory. Amounts related to inventory are computed by performing a thorough analysis of future marketability by specific inventory item as well as an estimate based on Cintas' historical rates of obsolescence. |
| (2) | Represents reductions in the balance sheet reserve due to the actual write-off of non-collectible accounts receivable or the physical disposal of obsolete inventory items. These amounts do not impact Cintas' consolidated income statement. |
Previous: Item 15. Exhibits and Financial Statement Schedules
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