Revenue Recognition (Tables)

3 Months Ended

Aug. 31, 2020

Revenue Recognition

Schedule of net contract assets and liabilities

	August 31,		May 31,
	2020		2020		Change
Contract assets – current	$	45.2	$	49.3	$	(4.1)
Contract assets – non-current		21.5		22.4		(0.9)
Contract liabilities:
Deferred revenue – current		(15.2)		(11.2)		(4.0)
Deferred revenue on long-term contracts		(70.2)		(88.0)		17.8
Net contract liabilities	$	(18.7)	$	(27.5)	$	8.8

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended
	August 31,
	2020		2019
Deferred revenue at beginning of period	$	(99.2)	$	(96.4)
Revenue deferred		(72.2)		(86.6)
Revenue recognized		88.5		101.0
Other		(2.5)		(4.3)
Deferred revenue at end of period	$	(85.4)	$	(86.3)

Schedule of sales across the major customer markets for each of our reportable segments

	Three Months Ended
	August 31,
	2020		2019
Aviation Services
Commercial	$	169.6	$	330.5
Government and defense		194.0		181.3
	$	363.6	$	511.8
Expeditionary Services
Commercial	$	5.7	$	5.7
Government and defense		31.5		24.0
	$	37.2	$	29.7

Schedule of sales by geographic region

	Three Months Ended
	August 31,
	2020		2019
Aviation Services
North America	$	294.8	$	390.4
Europe/Africa		51.0		88.2
Other		17.8		33.2
	$	363.6	$	511.8
Expeditionary Services
North America	$	34.9	$	28.2
Europe/Africa		2.2		1.4
Other		0.1		0.1
	$	37.2	$	29.7