Discontinued Operations

12 Months Ended

May 31, 2011

Discontinued Operations

Discontinued Operations

11. Discontinued Operations

        During the third quarter of fiscal 2011, we decided to exit our Amsterdam component repair facility, a business which was reported in our Aviation Supply Chain segment. We are currently evaluating a number of strategic alternatives associated with the business unit, including the sale of the unit. The aggregate carrying value of the unit is approximately $9,000, and we expect to recover the aggregate carrying value.

        On November 25, 2008 we sold certain assets and liabilities of our industrial gas turbine engine business. As a result of this transaction, we recorded a pre-tax charge of $2,209 ($1,403 after tax), in the second quarter ended November 30, 2008 representing the loss on disposal. The loss on disposal represents the difference between the consideration received and the net book value of the assets sold.

        Revenues, pre-tax operating loss and pre-tax loss on disposal for fiscal years 2011, 2010 and 2009 for the discontinued operations are summarized as follows:

	For the Year Ended May 31,
	2011			2010			2009
Revenues	$	29,330		$	35,735		$	44,298
Pre-tax operating loss		(5,096	)		(3,437	)		(4,569	)
Pre-tax loss on disposal		—			—			(2,209	)