Revenue Recognition (Tables)

9 Months Ended

Feb. 28, 2022

Revenue Recognition

Schedule of net contract assets and liabilities

	February 28,		May 31,
	2022		2021		Change
Contract assets – current	$	68.8	$	71.9	$	(3.1)
Contract assets – non-current		22.4		21.6		0.8
Contract liabilities:
Deferred revenue – current		(26.8)		(25.9)		(0.9)
Deferred revenue on long-term contracts		(8.7)		(5.4)		(3.3)
Net contract assets	$	55.7	$	62.2	$	(6.5)

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2022		2021		2022		2021
Deferred revenue at beginning of period	$	(42.7)	$	(48.4)	$	(31.3)	$	(99.2)
Revenue deferred		(81.9)		(61.7)		(204.0)		(184.7)
Revenue recognized		82.4		72.4		187.4		248.5
Other		6.7		(0.6)		12.4		(2.9)
Deferred revenue at end of period	$	(35.5)	$	(38.3)	$	(35.5)	$	(38.3)

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

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2022		2021		2022		2021
Aviation Services:
Commercial	$	264.0	$	204.7	$	788.2	$	566.5
Government and defense		174.0		185.0		504.7		571.8
	$	438.0	$	389.7	$	1,292.9	$	1,138.3
Expeditionary Services:
Commercial	$	1.0	$	3.1	$	1.8	$	10.8
Government and defense		13.2		17.5		49.2		65.6
	$	14.2	$	20.6	$	51.0	$	76.4

Schedule of sales by geographic region

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2022		2021		2022		2021
Aviation Services:
North America	$	324.2	$	318.2	$	1,013.0	$	927.1
Europe/Africa		50.1		49.0		162.5		145.7
Other		63.7		22.5		117.4		65.5
	$	438.0	$	389.7	$	1,292.9	$	1,138.3
Expeditionary Services:
North America	$	14.2	$	20.3	$	50.8	$	73.6
Europe/Africa		—		0.2		0.2		2.6
Other		—		0.1		—		0.2
	$	14.2	$	20.6	$	51.0	$	76.4