Financing Arrangements (Tables)

12 Months Ended

May 31, 2013

Financing Arrangements

Summary of carrying amount of debt

	May 31,
	2013			2012
Revolving credit facility expiring April 24, 2018 with interest payable monthly	$	120.0		$	280.0
Revolving credit facility (secured by aircraft and related engines and components) due April 23, 2015 with floating interest rate, payable monthly		39.2			33.0
Note payable due March 9, 2017 with floating interest rate, payable semi-annually on June 1 and December 1		40.0			50.0
Notes payable due January 15, 2022 with interest at 7.25% payable semi-annually on January 15 and July 15		333.4			172.1
Convertible notes payable due March 1, 2014 with interest at 1.625% payable semi-annually on March 1 and September 1		65.9			68.5
Convertible notes payable due March 1, 2016 with interest at 2.25% payable semi-annually on March 1 and September 1		43.5			46.1
Convertible notes payable due February 1, 2026 with interest at 1.75% payable semi-annually on February 1 and August 1		—			94.9
Other1		66.6			47.6
Total debt		708.6			792.2
Current maturities of debt		(86.4	)		(122.8	)
Long-term debt	$	622.2		$	669.4

¹

Included in Other is a revolving credit facility of $0 and $0.6 million, a note payable due March 15, 2014 of $1.2 million and $2.6 million, a note payable due July 19, 2012 of $0 and $8.4 million, a mortgage loan (secured by Wood Dale, Illinois facility) due August 1, 2015 of $11.0 million and $11.0 million, convertible notes due February 1, 2015 of $29.4 million and $0, and an industrial revenue bond (secured by property, plant and equipment) due August 1, 2018 of $25.0 million and $25.0 million at May 31, 2013 and 2012, respectively.

Schedule of borrowing activity under the Credit Agreement

	For the Year Ended May 31,
	2013			2012			2011
Maximum amount borrowed	$	395.0		$	525.0		$	135.0
Average daily borrowings		312.3			288.3			70.6
Average interest rate during the year		2.03	%		1.90	%		1.95	%

Schedule of retirement of debt

	Principal Amount				Cash Paid				Loss on Repurchase
	2013		2012		2013		2012		2013		2012
1.625% convertible notes due March 1, 2014	$	6.4	$	9.4	$	6.1	$	8.9	$	0.1	$	0.2
2.25% convertible notes due March 1, 2016		5.5		9.1		4.9		8.1		0.2		0.3
1.75% convertible notes due February 1, 2026		11.0		20.6		11.0		20.3		—		0.2
	$	22.9	$	39.1	$	22.0	$	37.3	$	0.3	$	0.7

Schedule of the short-term and long-term debt and equity component (recorded in capital surplus, net of income tax benefit) of convertible notes

	May 31,
	2013			2012
Long-term debt:
Principal amount	$	148.3		$	229.3
Unamortized discount		(9.5	)		(19.8	)
Net carrying amount	$	138.8		$	209.5
Equity component, net of tax	$	75.3		$	74.8

Schedule of discount on the liability component of long-term debt is being amortized using the effective interest method based on an effective rate

	May 31,
	2013			2012
1.625% convertible notes due March 1, 2014		6.82	%		6.82	%
1.75% convertible notes due February 1, 2015		5.00	%		—
2.25% convertible notes due March 1, 2016		7.41	%		7.41	%
1.75% convertible notes due February 1, 2026		—			8.48	%

Schedule of interest expense associated with the convertible notes

	For the Year Ended May 31,
	2013		2012		2011
Coupon interest	$	3.7	$	4.9	$	4.9
Amortization of deferred financing fees		0.5		0.7		0.8
Amortization of discount		9.3		13.1		12.3
Interest expense related to convertible notes	$	13.5	$	18.7	$	18.0