Revenue Recognition (Tables)

6 Months Ended

Nov. 30, 2021

Revenue Recognition

Schedule of net contract assets and liabilities

	November 30,		May 31,
	2021		2021		Change
Contract assets – current	$	68.5	$	71.9	$	(3.4)
Contract assets – non-current		24.0		21.6		2.4
Contract liabilities:
Deferred revenue – current		(33.6)		(25.9)		(7.7)
Deferred revenue on long-term contracts		(9.1)		(5.4)		(3.7)
Net contract assets	$	49.8	$	62.2	$	(12.4)

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2021		2020		2021		2020
Deferred revenue at beginning of period	$	(33.0)	$	(85.4)	$	(31.3)	$	(99.2)
Revenue deferred		(72.0)		(50.8)		(122.1)		(123.0)
Revenue recognized		58.6		87.6		105.0		176.1
Other		3.7		0.2		5.7		(2.3)
Deferred revenue at end of period	$	(42.7)	$	(48.4)	$	(42.7)	$	(48.4)

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

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2021		2020		2021		2020
Aviation Services:
Commercial	$	257.0	$	192.2	$	524.2	$	361.8
Government and defense		162.3		192.8		330.7		386.8
	$	419.3	$	385.0	$	854.9	$	748.6
Expeditionary Services:
Commercial	$	0.7	$	2.0	$	0.8	$	7.7
Government and defense		16.6		16.6		36.0		48.1
	$	17.3	$	18.6	$	36.8	$	55.8

Schedule of sales by geographic region

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2021		2020		2021		2020
Aviation Services:
North America	$	341.2	$	314.1	$	688.8	$	608.9
Europe/Africa		50.4		45.7		112.4		96.7
Other		27.7		25.2		53.7		43.0
	$	419.3	$	385.0	$	854.9	$	748.6
Expeditionary Services:
North America	$	17.3	$	18.4	$	36.6	$	53.3
Europe/Africa		—		0.2		0.2		2.4
Other		—		—		—		0.1
	$	17.3	$	18.6	$	36.8	$	55.8