Financing Arrangements (Tables)

6 Months Ended

Nov. 30, 2013

Financing Arrangements

Summary of carrying amount of debt

	November 30,			May 31,
	2013			2013
Revolving credit facility expiring April 24, 2018 with interest payable monthly	$	100.0		$	120.0
Secured credit facility (secured by aircraft and related engines and components) due April 23, 2015 with floating interest rate, payable monthly	34.6			39.2
Note payable due March 9, 2017 with floating interest rate, payable semi-annually on June 1 and December 1	35.0			40.0
Notes payable due January 15, 2022 with interest at 7.25% payable semi-annually on January 15 and July 15	333.0			333.4
Convertible notes payable due March 1, 2014 with interest at 1.625% payable semi-annually on March 1 and September 1	67.6			65.9
Convertible notes payable due March 1, 2016 with interest at 2.25% payable semi-annually on March 1 and September 1	44.6			43.5
Other(1)	66.0			66.6
Total debt	680.8			708.6
Current maturities of debt	(87.3		)	(86.4		)
Long-term debt	$	593.5		$	622.2

(1) Included in Other at November 30, 2013 and May 31, 2013, respectively, is (i) a note payable due March 15, 2014 of $0.5 million and $1.2 million, (ii) a mortgage loan (secured by Wood Dale, Illinois facility) due August 1, 2015 of $11.0 million and $11.0 million, (iii) convertible notes due February 1, 2015 of $29.5 million and $29.4 million, and (iv) an industrial revenue bond (secured by property, plant, and equipment) due August 1, 2018 of $25.0 million and $25.0 million.

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

	November 30,			May 31,
	2013			2013
Long-term debt:
Principal amount	$	148.3		$	148.3
Unamortized discount	(6.6		)	(9.5		)
Net carrying amount	$	141.7		$	138.8
Equity component, net of tax	$	75.3		$	75.3

Schedule of interest expense associated with the convertible notes

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2013		2012		2013		2012
Coupon interest	$	0.9	$	1.0	$	1.7	$	2.0
Amortization of deferred financing fees	0.1		0.1		0.2		0.3
Amortization of discount	1.5		2.8		2.9		5.6
Interest expense related to convertible notes	$	2.5	$	3.9	$	4.8	$	7.9