Revenue Recognition (Tables)

6 Months Ended

Nov. 30, 2023

Revenue Recognition

Schedule of net contract assets and liabilities

	November 30,		May 31,
	2023		2023		Change
Contract assets – current	$	99.3	$	86.9	$	12.4
Contract assets – non-current		33.1		27.5		5.6
Contract liabilities:
Deferred revenue – current		(16.6)		(19.7)		3.1
Deferred revenue on long-term contracts		(9.8)		(12.7)		2.9
Net contract assets	$	106.0	$	82.0	$	24.0

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2023		2022		2023		2022
Deferred revenue at beginning of period	$	(37.1)	$	(33.5)	$	(32.4)	$	(30.6)
Revenue deferred		(69.4)		(69.6)		(136.2)		(127.1)
Revenue recognized		81.3		66.6		142.4		120.1
Other (1)		(1.2)		7.7		(0.2)		8.8
Deferred revenue at end of period	$	(26.4)	$	(28.8)	$	(26.4)	$	(28.8)

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

	Three Months Ended				Six Months Ended
	November 30,				November 30,
	2023		2022		2023		2022
Parts Supply:
Commercial	$	189.4	$	141.5	$	395.4	$	271.3
Government and defense		38.2		42.1		69.0		80.9
	$	227.6	$	183.6	$	464.4	$	352.2
Repair & Engineering:
Commercial	$	130.9	$	122.1	$	252.5	$	234.8
Government and defense		14.5		12.7		30.4		27.6
	$	145.4	$	134.8	$	282.9	$	262.4
Integrated Solutions:
Commercial	$	63.4	$	46.3	$	126.2	$	95.9
Government and defense		93.2		81.0		186.7		159.2
	$	156.6	$	127.3	$	312.9	$	255.1
Expeditionary Services:
Commercial	$	1.5	$	1.9	$	3.6	$	3.4
Government and defense		14.3		22.2		31.3		43.0
	$	15.8	$	24.1	$	34.9	$	46.4

Schedule of sales by geographic region

	Three Months Ended				Six Months Ended
	November 30,				November,
	2023		2022		2023		2022
U.S./Canada	$	405.4	$	377.2	$	814.3	$	722.4
Europe/Africa		81.8		52.5		173.2		115.3
Asia/South Pacific		44.9		32.4		86.1		63.4
Other		13.3		7.7		21.5		15.0
	$	545.4	$	469.8	$	1,095.1	$	916.1