Revenue Recognition (Tables)

9 Months Ended

Feb. 28, 2023

Revenue Recognition

Schedule of net contract assets and liabilities

	February 28,		May 31,
	2023		2022		Change
Contract assets – current	$	91.7	$	73.6	$	18.1
Contract assets – non-current		23.3		22.5		0.8
Contract liabilities:
Deferred revenue – current		(18.4)		(20.5)		2.1
Deferred revenue on long-term contracts		(15.8)		(10.1)		(5.7)
Net contract assets	$	80.8	$	65.5	$	15.3

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2023		2022		2023		2022
Deferred revenue at beginning of period	$	(28.8)	$	(42.7)	$	(30.6)	$	(31.3)
Revenue deferred		(81.0)		(81.9)		(208.1)		(204.0)
Revenue recognized		73.9		82.4		194.0		187.4
Other		1.7		6.7		10.5		12.4
Deferred revenue at end of period	$	(34.2)	$	(35.5)	$	(34.2)	$	(35.5)

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

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2023		2022		2023		2022
Aviation Services:
Commercial	$	338.4	$	264.0	$	940.4	$	788.2
Government and defense		160.7		174.0		428.4		504.7
	$	499.1	$	438.0	$	1,368.8	$	1,292.9
Expeditionary Services:
Commercial	$	1.1	$	1.0	$	4.5	$	1.8
Government and defense		20.9		13.2		63.9		49.2
	$	22.0	$	14.2	$	68.4	$	51.0

Schedule of sales by geographic region

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2023		2022		2023		2022
Aviation Services:
North America	$	364.3	$	324.2	$	1,041.3	$	1,013.0
Europe/Africa		70.5		50.1		184.8		162.5
Other		64.3		63.7		142.7		117.4
	$	499.1	$	438.0	$	1,368.8	$	1,292.9
Expeditionary Services:
North America	$	21.5	$	14.2	$	66.9	$	50.8
Europe/Africa		0.5		—		1.5		0.2
	$	22.0	$	14.2	$	68.4	$	51.0