12. Other Noncurrent Assets

At May 31, 2016 and 2015, other noncurrent assets consisted of the following:

	May 31,
	2016		2015
Assets under deferred compensation plan	$	28.8	$	28.8
Cash surrender value of life insurance		17.7		17.5
License fees		15.5		12.2
Costs in excess of billings		14.9		14.4
Other		10.1		9.7

	$	87.0	$	82.6

License Fees

In June 2011, we entered into a ten-year agreement with Unison Industries to be the exclusive worldwide aftermarket distributor for Unison's electrical components, sensors, switches and other systems for aircraft and industrial uses. In connection with the agreement, we agreed to pay Unison Industries $20.0 million for the exclusive distribution rights with $7.0 million paid in June 2011 and $1.3 million payable by January 31 of each calendar year beginning in January 2012 through 2021.

As of May 31, 2016 and 2015, the unamortized balance of the license is $8.8 million and $10.4 million, respectively, and is being amortized over a ten-year period. The current portion of the deferred payments of $1.3 million is recorded in Accrued liabilities and the long-term portion of $4.2 million is included in Other liabilities and deferred income on the Consolidated Balance Sheet.