Cintas Corporation
Consolidated Condensed Statements of Cash Flows
Three Months Ended
August 31, 2026 | August 31, 2025 | |
Cash flows from operating activities: | ||
Net income | $ 551,711 | $ 491,140 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 78,918 | 77,589 |
Amortization of intangible assets and capitalized contract costs | 48,408 | 48,348 |
Stock-based compensation | 31,047 | 30,348 |
Deferred income taxes | 9,132 | 13,496 |
Change in current assets and liabilities, net of acquisitions of businesses: | ||
Accounts receivable, net | (32,734) | (3,635) |
Inventories, net | 12,817 | (2,398) |
Uniforms and other rental items in service | (33,880) | (34,760) |
Prepaid expenses and other current assets and capitalized contract costs | (108,897) | (62,382) |
Accounts payable | 46,486 | (22,501) |
Accrued compensation and related liabilities | (77,801) | (94,275) |
Accrued liabilities and other | (49,338) | (101,114) |
Income taxes, current | 96,462 | 74,625 |
Net cash provided by operating activities | 572,331 | 414,481 |
Cash flows from investing activities: | ||
Capital expenditures | (107,532) | (101,957) |
Purchases of investments | (7,179) | (6,538) |
Acquisitions of businesses, net of cash acquired | (3,916) | (7,602) |
Other, net | 1,260 | (130) |
Net cash used in investing activities | (117,367) | (116,227) |
Cash flows from financing activities: | ||
Proceeds from exercise of stock-based compensation awards | 159 | 2,669 |
Dividends paid | (180,700) | (157,766) |
Repurchase of common stock | (315,710) | (266,097) |
Other, net | (3,917) | (2,807) |
Net cash used in financing activities | (500,168) | (424,001) |
Effect of exchange rate changes on cash and cash equivalents | (215) | (83) |
Net decrease in cash and cash equivalents | (45,419) | (125,830) |
Cash and cash equivalents at beginning of period | 289,018 | 263,973 |
Cash and cash equivalents at end of period | $ 243,599 | $ 138,143 |