Item 16. Form 10-K Summary

3K characters. Original on sec.gov · Markdown

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.

SignatureCapacityDate
/s/Scott D. Farmer Scott D. FarmerChairman of the Board of Directors and Chief Executive Officer (Principal Executive Officer)July 27, 2018
/s/Ronald W. Tysoe Ronald W. TysoeDirectorJuly 27, 2018
/s/John F. Barrett John F. BarrettDirectorJuly 27, 2018
/s/James J. Johnson James J. JohnsonDirectorJuly 27, 2018
/s/Robert E. Coletti Robert E. ColettiDirectorJuly 27, 2018
/s/J. Michael Hansen J. Michael HansenExecutive 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 YearAdditions (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