Revenue Recognition (Tables)

9 Months Ended

Feb. 28, 2021

Revenue Recognition

Schedule of net contract assets and liabilities

	February 28,		May 31,
	2021		2020		Change
Contract assets – current	$	62.1	$	49.3	$	12.8
Contract assets – non-current		23.9		22.4		1.5
Contract liabilities:
Deferred revenue – current		(19.8)		(11.2)		(8.6)
Deferred revenue on long-term contracts		(18.5)		(88.0)		69.5
Net contract assets (liabilities)	$	47.7	$	(27.5)	$	75.2

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Nine Months Ended
	February 28/29,				February 28/29,
	2021		2020		2021		2020
Deferred revenue at beginning of period	$	(48.4)	$	(133.8)	$	(99.2)	$	(96.4)
Revenue deferred		(61.7)		(102.1)		(184.7)		(342.4)
Revenue recognized		72.4		121.7		248.5		326.0
Other		(0.6)		(0.5)		(2.9)		(1.9)
Deferred revenue at end of period	$	(38.3)	$	(114.7)	$	(38.3)	$	(114.7)

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

	Three Months Ended				Nine Months Ended
	February 28/29,				February 28/29,
	2021		2020		2021		2020
Aviation Services:
Commercial	$	204.7	$	353.7	$	566.5	$	1,053.8
Government and defense		185.0		176.6		571.8		520.3
	$	389.7	$	530.3	$	1,138.3	$	1,574.1
Expeditionary Services:
Commercial	$	3.1	$	5.5	$	10.8	$	17.6
Government and defense		17.5		17.3		65.6		63.8
	$	20.6	$	22.8	$	76.4	$	81.4

Schedule of sales by geographic region

	Three Months Ended				Nine Months Ended
	February 28/29,				February 28/29,
	2021		2020		2021		2020
Aviation Services:
North America	$	318.2	$	412.9	$	927.1	$	1,198.9
Europe/Africa		49.0		85.1		145.7		273.1
Other		22.5		32.3		65.5		102.1
	$	389.7	$	530.3	$	1,138.3	$	1,574.1
Expeditionary Services:
North America	$	20.3	$	20.2	$	73.6	$	74.8
Europe/Africa		0.2		2.6		2.6		6.2
Other		0.1		—		0.2		0.4
	$	20.6	$	22.8	$	76.4	$	81.4