Accounts Receivable

9 Months Ended

Feb. 28, 2021

Accounts Receivable

Accounts Receivable

Note 5 – Accounts Receivable

Financial instruments that potentially subject us to concentrations of market or credit risk consist principally of trade receivables. While our trade receivables are diverse and represent a number of entities and geographic regions, the majority are with the U.S. government and its contractors and entities in the aviation industry. The composition of our accounts receivable is as follows:

	February 28,		May 31,
	2021		2020
U.S. Government contracts:
Trade receivables	$	38.4	$	33.9
Unbilled receivables		18.7		27.4
		57.1		61.3
All other customers:
Trade receivables		108.9		81.7
Unbilled receivables		20.8		28.9
		129.7		110.6
	$	186.8	$	171.9

We currently have past due accounts receivable owed by former commercial program customers primarily related to our exit from customer contracts in certain geographies, including Colombia and Peru. Our past due accounts receivable owed by these customers was $6.5 million as of February 28, 2021 which was net of allowance for doubtful accounts of $8.7 million.