Revenue Recognition (Tables)

6 Months Ended

Nov. 30, 2022

Revenue Recognition

Schedule of net contract assets and liabilities

	November 30,		May 31,
	2022		2022		Change
Contract assets – current	$	82.5	$	73.6	$	8.9
Contract assets – non-current		16.3		22.5		(6.2)
Contract liabilities:
Deferred revenue – current		(14.1)		(20.5)		6.4
Deferred revenue on long-term contracts		(14.7)		(10.1)		(4.6)
Net contract assets	$	70.0	$	65.5	$	4.5

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2022		2021		2022		2021
Deferred revenue at beginning of period	$	(33.5)	$	(33.0)	$	(30.6)	$	(31.3)
Revenue deferred		(69.6)		(72.0)		(127.1)		(122.1)
Revenue recognized		66.6		58.6		120.1		105.0
Other		7.7		3.7		8.8		5.7
Deferred revenue at end of period	$	(28.8)	$	(42.7)	$	(28.8)	$	(42.7)

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

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2022		2021		2022		2021
Aviation Services:
Commercial	$	309.9	$	257.0	$	602.0	$	524.2
Government and defense		135.8		162.3		267.7		330.7
	$	445.7	$	419.3	$	869.7	$	854.9
Expeditionary Services:
Commercial	$	1.9	$	0.7	$	3.4	$	0.8
Government and defense		22.2		16.6		43.0		36.0
	$	24.1	$	17.3	$	46.4	$	36.8

Schedule of sales by geographic region

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2022		2021		2022		2021
Aviation Services:
North America	$	353.7	$	341.2	$	677.0	$	688.8
Europe/Africa		51.9		50.4		114.3		112.4
Other		40.1		27.7		78.4		53.7
	$	445.7	$	419.3	$	869.7	$	854.9
Expeditionary Services:
North America	$	23.5	$	17.3	$	45.4	$	36.6
Europe/Africa		0.6		—		1.0		0.2
	$	24.1	$	17.3	$	46.4	$	36.8