XML 20 R6.htm IDEA: XBRL DOCUMENT v3.23.3
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
3 Months Ended
Aug. 31, 2023
Aug. 31, 2022
Cash flows provided by (used in) operating activities:    
Net income (loss) $ (0.6) $ 22.7
Less: Income from discontinued operations   (0.4)
Income (Loss) from continuing operations (0.6) 22.3
Adjustments to reconcile income (loss) from continuing operations to net cash provided by (used in) operating activities:    
Depreciation and amortization 8.4 6.8
Stock-based compensation 4.3 4.1
Pension settlement charge 26.7  
Loss from joint ventures 0.9 0.6
Provision for credit losses 0.4  
Deferred tax benefit (4.6)  
Changes in certain assets and liabilities:    
Accounts receivable (40.5) (7.7)
Contract assets (12.3) (14.2)
Inventories (39.8) (26.0)
Prepaid expenses and other current assets (8.8) 6.6
Rotable assets supporting long-term programs (1.0) (3.1)
Accounts payable 64.2 38.4
Accrued and other liabilities (10.0) (27.2)
Deferred revenue on long-term programs (4.3) 6.5
Other (1.5) (0.1)
Net cash provided by (used in) operating activities - continuing operations (18.5) 7.0
Net cash used in operating activities - discontinued operations (0.2) (0.2)
Net cash provided by (used in) operating activities (18.7) 6.8
Cash flows used in investing activities:    
Property, plant, and equipment expenditures (9.1) (6.7)
Other (2.5) (4.0)
Net cash used in investing activities - continuing operations (11.6) (10.7)
Cash flows provided by (used in) financing activities:    
Short-term borrowings on Revolving Credit Facility, net 35.0 15.0
Purchase of treasury stock   (21.9)
Stock compensation activity 3.7 0.4
Net cash provided by (used in) financing activities - continuing operations 38.7 (6.5)
Effect of exchange rate changes on cash   (0.1)
Increase (Decrease) in cash, cash equivalents, and restricted cash 8.4 (10.5)
Cash, cash equivalents, and restricted cash at beginning of period 81.8 58.9
Cash, cash equivalents, and restricted cash at end of period $ 90.2 $ 48.4