Leases (Tables)

12 Months Ended

May 31, 2022

Leases

Schedule of operating lease cost

	For the Year Ended May 31,
	2022		2021		2020
Operating lease cost	$	20.8	$	16.4	$	18.4
Short-term lease cost		2.2		1.7		5.3
Variable lease cost		9.2		3.5		7.4
	$	32.2	$	21.6	$	31.1

Schedule of maturities of our lease payments

With the exception of a land lease for one of our airframe maintenance facilities that expires in 2108, our operating leases expire at various dates through 2034.  Maturities of our operating lease payments as of May 31, 2022 are as follows:

2023	$	13.6
2024		12.4
2025		11.0
2026		9.2
2027		8.5
Thereafter		25.5
Total undiscounted payments		80.2
Less: Imputed interest		(11.7)
Present value of minimum lease payments		68.5
Less: Operating lease liabilities – current		(11.1)
Operating lease liabilities – non-current	$	57.4

Summary of weighted-average remaining lease term and weighted-average discount rate

	May 31,
	2022	2021
Remaining lease term	7.6 years	8.5 years
Discount rate	3.7%	3.8%

Schedule of supplemental cash flow information related to leases

	For the Year Ended May 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liabilities	$	14.1	$	15.3	$	16.5
Operating lease liabilities arising from obtaining ROU assets		9.5		5.2		13.0