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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
May 31, 2022
May 31, 2021
May 31, 2020
Cash flows provided from (used in) operating activities:      
Net income $ 78.7 $ 35.8 $ 4.4
Less: Loss (Income) from discontinued operations (0.2) 10.5 20.4
Income from continuing operations 78.5 46.3 24.8
Adjustments to reconcile income to net cash provided from (used in)operating activities:      
Depreciation and intangible amortization 33.1 36.3 43.7
Stock-based compensation expense 8.2 9.2 7.3
Provision for credit losses 1.2 8.5 5.4
Pension settlement charges 1.4 0.9 1.5
Deferred tax provision 8.7 8.4 0.5
Loss (Earnings) from joint ventures 2.9 (0.2) 1.9
Customer contract termination and restructuring costs   2.2 31.3
Impairment charges 2.9 9.1 8.1
Losses on sale and exit of business 1.7 20.2  
Changes in certain assets and liabilities, net of acquisitions:      
Accounts receivable (49.0) (4.5) 14.8
Contract assets (1.9) (26.4) 9.9
Inventories (10.4) 74.9 (94.5)
Prepaid expenses and other current assets (10.2) 49.8 (40.1)
Rotable assets supporting long-term programs 3.0 9.1 (22.1)
Accounts payable 29.4 (62.6) 4.1
Accrued and other liabilities (10.5) 16.2 (1.0)
Deferred revenue on long-term programs 3.8 (83.0) (14.6)
Other (3.0) (5.9) (0.1)
Net cash provided from (used in) operating activities-continuing operations 89.8 108.5 (19.1)
Net cash used in operating activities-discontinued operations (14.6) (3.3) (17.0)
Net cash provided from (used in) operating activities 75.2 105.2 (36.1)
Cash flows used in investing activities:      
Property, plant and equipment expenditures (17.3) (11.3) (23.6)
Proceeds from asset sales 7.3    
Proceeds from termination of life insurance policies   10.0  
Other (6.5) 0.8 (1.2)
Net cash used in investing activities (16.5) (0.5) (24.8)
Cash flows provided from (used in) financing activities:      
Short-term borrowings (repayments), net (9.5) (470.0) 459.5
Repayments on long-term borrowings (24.7)    
Cash dividends   (0.1) (10.7)
Purchase of treasury stock (42.4)   (4.1)
Stock compensation activity 16.8 0.6 1.1
Other     (1.3)
Net cash provided from (used in) financing activities (59.8) (469.5) 444.5
Effect of exchange rate changes on cash (0.2) 0.3  
Increase (Decrease) in cash and cash equivalents (1.3) (364.5) 383.6
Cash, cash equivalents, and restricted cash at beginning of year 60.2 424.7 41.1
Cash, cash equivalents, and restricted cash at end of year $ 58.9 $ 60.2 $ 424.7