XML 20 R7.htm IDEA: XBRL DOCUMENT v3.20.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
6 Months Ended
Nov. 30, 2020
Nov. 30, 2019
Cash flows provided from (used in) operating activities:    
Net income (loss) $ (6.3) $ 18.6
Less: Loss from discontinued operations 6.8 18.6
Income from continuing operations 0.5 37.2
Adjustments to reconcile income from continuing operations to net cash provided from (used in) operating activities:    
Depreciation and intangible amortization 18.2 21.8
Stock-based compensation 4.5 7.1
Provision for doubtful accounts 4.4 1.4
Deferred tax provision 1.0 0.9
Loss from joint ventures 0.2  
Loss on sale of business 19.5  
Contract termination and restructuring costs 2.2  
Impairment charges 7.0  
Changes in certain assets and liabilities:    
Accounts receivable (4.8) (11.0)
Contract assets (7.5) (2.8)
Inventories 30.2 (56.8)
Rotable assets supporting long-term programs (0.9) (19.1)
Accounts payable 8.8 42.5
Accrued and other liabilities 0.2 (17.9)
Payroll Support Program deferred credit 23.6  
Deferred revenue on long-term programs (60.4) 23.3
Other 20.7 (36.8)
Net cash provided from (used in) operating activities - continuing operations 67.4 (10.2)
Net cash used in operating activities - discontinued operations (1.9) (7.7)
Net cash provided from (used in) operating activities 65.5 (17.9)
Cash flows provided from (used in) investing activities:    
Property, plant and equipment expenditures (6.0) (10.2)
Proceeds from termination of life insurance policies 10.0  
Other 1.6 (1.5)
Net cash used in investing activities 5.6 (11.7)
Cash flows provided from (used in) financing activities:    
Short-term borrowings , net (390.0) 55.0
Cash dividends (0.1) (5.5)
Purchase of treasury stock   (4.1)
Financing costs   (1.3)
Stock compensation activity (1.5) (3.0)
Net cash provided from (used in) financing activities (382.9) 41.1
Effect of exchange rate changes on cash 0.1 0.1
Increase (Decrease) in cash and cash equivalents (311.7) 11.6
Cash, cash equivalents, and restricted cash at beginning of period 424.7 41.1
Cash, cash equivalents, and restricted cash at end of period 113.0 $ 52.7
Payroll Support Program Promissory Note    
Cash flows provided from (used in) financing activities:    
Proceeds from Payroll Support Program note $ 8.7