Revenue Recognition (Tables)

9 Months Ended

Feb. 29, 2024

Revenue Recognition

Schedule of net contract assets and liabilities

	February 29,		May 31,
	2024		2023		Change
Contract assets – current	$	86.5	$	86.9	$	(0.4)
Contract assets – non-current		33.5		27.5		6.0
Contract liabilities:
Deferred revenue – current		(16.2)		(19.7)		3.5
Deferred revenue on long-term contracts		(6.1)		(12.7)		6.6
Net contract assets	$	97.7	$	82.0	$	15.7

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended				Nine Months Ended
	February 29/28,				February 29/28,
	2024		2023		2024		2023
Deferred revenue at beginning of period	$	(26.4)	$	(28.8)	$	(32.4)	$	(30.6)
Revenue deferred		(86.4)		(81.0)		(222.6)		(208.1)
Revenue recognized		85.6		73.9		228.0		194.0
Other(1)		4.9		1.7		4.7		10.5
Deferred revenue at end of period	$	(22.3)	$	(34.2)	$	(22.3)	$	(34.2)

(1)Other includes cumulative catch-up adjustments, foreign currency translation, and other adjustments.

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

	Three Months Ended				Nine Months Ended
	February 29/28,				February 29/28,
	2024		2023		2024		2023
Parts Supply:
Commercial	$	200.2	$	179.7	$	595.6	$	451.0
Government and defense		42.1		47.9		111.1		128.8
	$	242.3	$	227.6	$	706.7	$	579.8
Repair & Engineering:
Commercial	$	128.2	$	114.0	$	380.7	$	348.8
Government and defense		12.6		14.0		43.0		41.6
	$	140.8	$	128.0	$	423.7	$	390.4
Integrated Solutions:
Commercial	$	69.1	$	44.7	$	195.3	$	140.6
Government and defense		96.4		98.8		283.1		258.0
	$	165.5	$	143.5	$	478.4	$	398.6
Expeditionary Services:
Commercial	$	1.7	$	1.1	$	5.3	$	4.5
Government and defense		17.0		20.9		48.3		63.9
	$	18.7	$	22.0	$	53.6	$	68.4

Schedule of sales by geographic region

	Three Months Ended				Nine Months Ended
	February 29/28,				February 29/28,
	2024		2023		2024		2023
U.S./Canada	$	422.2	$	385.8	$	1,236.5	$	1,108.2
Europe/Africa		90.4		71.0		263.6		186.3
Asia/South Pacific		47.5		34.8		133.6		98.2
Other		7.2		29.5		28.7		44.5
	$	567.3	$	521.1	$	1,662.4	$	1,437.2