Financing Arrangements (Tables)

12 Months Ended

May 31, 2022

Financing Arrangements

Schedule of carrying amount of debt

	May 31,
	2022		2021
Revolving Credit Facility expiring September 25, 2024 with interest payable monthly	$	100.0	$	109.5
Term loan repaid November 1, 2021 with interest paid monthly		—		25.7
Total debt		100.0		135.2
Debt issuance costs, net		(1.1)		(1.5)
Long-term debt	$	98.9	$	133.7

Schedule of borrowing activity under the Credit Agreement

	For the Year Ended May 31,
	2022			2021			2020
Maximum amount borrowed	$	124.5		$	579.5		$	579.5
Average daily borrowings		105.9			257.5			280.7
Average interest rate during the year		1.09	%		1.20	%		2.62	%