Revenue Recognition (Tables)

3 Months Ended

Aug. 31, 2025

Revenue Recognition

Schedule of net contract assets and liabilities

	August 31,		May 31,
	2025		2025		Change
Contract assets – current	$	146.7	$	140.3	$	6.4
Contract assets – non-current		33.2		28.4		4.8
Contract liabilities:
Deferred revenue – current		(32.3)		(40.3)		8.0
Deferred revenue on long-term contracts		(8.4)		(6.4)		(2.0)
Net contract assets	$	139.2	$	122.0	$	17.2

Schedule of changes in deferred revenue

	Three Months Ended
	August 31,
	2025		2024
Deferred revenue at beginning of period	$	(46.7)	$	(21.9)
Revenue deferred		(87.0)		(84.4)
Revenue recognized		93.7		74.2
Other (1)		(0.7)		3.9
Deferred revenue at end of period	$	(40.7)	$	(28.2)

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

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

	Three Months Ended
	August 31,
	2025		2024
Parts Supply:
Commercial	$	254.5	$	210.4
Government and defense		63.3		39.3
	$	317.8	$	249.7
Repair & Engineering
Commercial	$	195.7	$	191.2
Government and defense		18.9		26.4
	$	214.6	$	217.6
Integrated Solutions:
Commercial	$	72.4	$	70.0
Government and defense		112.6		98.9
	$	185.0	$	168.9
Expeditionary Services:
Commercial	$	0.7	$	1.3
Government and defense		21.5		24.2
	$	22.2	$	25.5

Schedule of sales by geographic region

	Three Months Ended
	August 31,
	2025		2024
U.S./Canada	$	519.1	$	473.4
Europe/Africa		99.7		108.8
Asia/South Pacific		89.7		64.0
Other		31.1		15.5
	$	739.6	$	661.7