Revenue Recognition (Tables)

3 Months Ended

Aug. 31, 2021

Revenue Recognition

Schedule of net contract assets and liabilities

	August 31,		May 31,
	2021		2021		Change
Contract assets – current	$	74.6	$	71.9	$	2.7
Contract assets – non-current		25.9		21.6		4.3
Contract liabilities:
Deferred revenue – current		(25.3)		(25.9)		0.6
Deferred revenue on long-term contracts		(7.7)		(5.4)		(2.3)
Net contract assets	$	67.5	$	62.2	$	5.3

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended
	August 31,
	2021		2020
Deferred revenue at beginning of period	$	(31.3)	$	(99.2)
Revenue deferred		(50.1)		(72.2)
Revenue recognized		46.4		88.5
Other		2.0		(2.5)
Deferred revenue at end of period	$	(33.0)	$	(85.4)

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

	Three Months Ended
	August 31,
	2021		2020
Aviation Services
Commercial	$	267.2	$	169.6
Government and defense		168.4		194.0
	$	435.6	$	363.6
Expeditionary Services
Commercial	$	0.1	$	5.7
Government and defense		19.4		31.5
	$	19.5	$	37.2

Schedule of sales by geographic region

	Three Months Ended
	August 31,
	2021		2020
Aviation Services
North America	$	347.6	$	294.8
Europe/Africa		62.0		51.0
Other		26.0		17.8
	$	435.6	$	363.6
Expeditionary Services
North America	$	19.3	$	34.9
Europe/Africa		0.2		2.2
Other		—		0.1
	$	19.5	$	37.2