Summary of Significant Accounting Policies (Tables)

12 Months Ended

May 31, 2012

Summary of Significant Accounting Policies

Schedule of goodwill by reportable segment

	May 31,
	2012		2011
Aviation Supply Chain	$	40,596	$	20,040
Government and Defense Services		38,304		38,304
Maintenance, Repair and Overhaul		28,108		28,108
Structures and Systems		155,592		47,549
	$	262,600	$	134,001

Schedule of intangible assets, other than goodwill

	May 31,
	2012			2011
Amortizable intangible assets:
Customer relationships	$	113,384		$	39,449
Developed technology		30,008			—
Lease agreements		21,500			21,500
FAA certificates		5,000			5,000
Covenants not to compete		1,570			1,570
Trademarks		600			600
Other		300			300
		172,362			68,419
Accumulated amortization		(34,094	)		(21,323	)
		138,268			47,096
Unamortized intangible assets:
Trademarks		16,694			—
	$	154,962		$	47,096

Summary of inventories

	May 31,
	2012		2011
Raw materials and parts	$	101,257	$	61,314
Work-in-process		64,682		51,725
Aircraft and engine parts, components and finished goods		295,227		250,360
	$	461,166	$	363,399

Summary of the components of comprehensive income

	For the Year Ended May 31,
	2012			2011		2010
Net income attributable to AAR and noncontrolling interest	$	68,029		$	69,826	$	43,202
Other comprehensive income—
Cumulative translation adjustments, net of tax		(18,474	)		3,290		(2,238	)
Unrealized loss on derivative instruments, net of tax		(3,887	)		—		—
Unrecognized pension and post retirement costs, net of tax		(14,184	)		7,711		(3,412	)
Total comprehensive income	$	31,484		$	80,827	$	37,552

Schedule of supplemental information on cash flow

	For the Year Ended May 31,
	2012		2011		2010
Interest paid	$	16,566	$	17,167	$	13,629
Income taxes paid		11,418		9,812		30,149
Income tax refunds and interest received		7,205		4,541		709