Revenue Recognition (Tables)

3 Months Ended

Aug. 31, 2023

Revenue Recognition

Schedule of net contract assets and liabilities

	August 31,		May 31,
	2023		2023		Change
Contract assets – current	$	99.3	$	86.9	$	12.4
Contract assets – non-current		30.8		27.5		3.3
Contract liabilities:
Deferred revenue – current		(25.4)		(19.7)		(5.7)
Deferred revenue on long-term contracts		(11.7)		(12.7)		1.0
Net contract assets	$	93.0	$	82.0	$	11.0

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended
	August 31,
	2023		2022
Deferred revenue at beginning of period	$	(32.4)	$	(30.6)
Revenue deferred		(66.8)		(57.5)
Revenue recognized		61.1		53.5
Other (1)		1.0		1.1
Deferred revenue at end of period	$	(37.1)	$	(33.5)

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

	Three Months Ended
	August 31,
	2023		2022
Parts Supply:
Commercial	$	206.0	$	129.8
Government and defense		30.8		38.8
	$	236.8	$	168.6
Repair & Engineering
Commercial	$	121.6	$	112.7
Government and defense		15.9		14.9
	$	137.5	$	127.6
Integrated Solutions:
Commercial	$	62.8	$	49.6
Government and defense		93.5		78.2
	$	156.3	$	127.8
Expeditionary Services:
Commercial	$	2.1	$	1.5
Government and defense		17.0		20.8
	$	19.1	$	22.3

Schedule of sales by geographic region

	Three Months Ended
	August 31,
	2023		2022
U.S./Canada	$	408.9	$	345.2
Europe/Africa		91.4		62.8
Asia/South Pacific		41.2		31.0
Other		8.2		7.3
	$	549.7	$	446.3