XML 18 R7.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
9 Months Ended
Feb. 28, 2022
Feb. 28, 2021
Cash flows provided from operating activities:    
Net income $ 54.8 $ 21.8
Less: (Income) Loss from discontinued operations (0.2) 9.8
Income from continuing operations 54.6 31.6
Adjustments to reconcile income from continuing operations to net cash provided from operating activities:    
Depreciation and intangible amortization 25.5 27.1
Stock-based compensation 5.8 6.8
Provision for doubtful accounts 0.9 5.8
Deferred tax provision (1.5) (2.7)
Loss from joint ventures 1.7 0.2
Loss on sale of business 1.3 19.5
Customer contract termination costs   2.2
Impairment charges 2.9 7.0
Changes in certain assets and liabilities:    
Accounts receivable (44.1) (22.5)
Contract assets 2.9 (16.8)
Inventories 4.6 51.2
Prepaid expenses and other current assets (22.7) 46.7
Rotable assets supporting long-term programs 1.4 4.2
Accounts payable 14.1 (7.1)
Accrued and other liabilities 3.1 12.4
Deferred revenue on long-term programs 2.5 (72.6)
Other (3.4) (8.0)
Net cash provided from operating activities - continuing operations 49.6 85.0
Net cash used in operating activities - discontinued operations (14.5) (2.4)
Net cash provided from operating activities 35.1 82.6
Cash flows provided from (used in) investing activities:    
Property, plant and equipment expenditures (10.2) (8.6)
Proceeds from termination of life insurance policies   10.0
Proceeds from asset disposals 7.3 0.0
Investments in joint ventures (4.0) 0.0
Other   0.9
Net cash provided from (used in) investing activities (6.9) 2.3
Cash flows used in financing activities:    
Short-term borrowings, net (5.0) (405.0)
Repayment of long-term borrowings (24.7) 0.0
Purchase of treasury stock (20.2)  
Proceeds from Payroll Support Program note   8.7
Cash dividends   (0.1)
Stock compensation activity 4.6 (0.8)
Net cash used in financing activities (45.3) (397.2)
Effect of exchange rate changes on cash (0.1) 0.2
Decrease in cash and cash equivalents (17.2) (312.1)
Cash, cash equivalents, and restricted cash at beginning of period 60.2 424.7
Cash, cash equivalents, and restricted cash at end of period $ 43.0 $ 112.6