Financing Arrangements (Tables)

12 Months Ended

May 31, 2021

Financing Arrangements

Schedule of carrying amount of debt

	May 31,
	2021		2020
Revolving Credit Facility expiring September 25, 2024 with interest payable monthly	$	109.5	$	579.5
Term loan due November 1, 2021 with interest payable monthly		25.7		22.5
Total debt		135.2		602.0
Debt issuance costs, net		(1.5)		(2.0)
Long-term debt	$	133.7	$	600.0

Schedule of borrowing activity under the Credit Agreement

	For the Year Ended May 31,
	2021			2020			2019
Maximum amount borrowed	$	579.5		$	579.5		$	287.0
Average daily borrowings		257.5			280.7			207.8
Average interest rate during the year		1.20	%		2.62	%		3.41	%