Revenue Recognition (Tables)

3 Months Ended

Aug. 31, 2024

Revenue Recognition

Schedule of net contract assets and liabilities

	August 31,		May 31,
	2024		2024		Change
Contract assets – current	$	147.9	$	123.2	$	24.7
Contract assets – non-current		23.1		24.6		(1.5)
Contract liabilities:
Deferred revenue – current		(22.3)		(14.7)		(7.6)
Deferred revenue on long-term contracts		(5.9)		(7.2)		1.3
Net contract assets	$	142.8	$	125.9	$	16.9

Schedule of changes in deferred revenue after adoption of ASC 606

	Three Months Ended
	August 31,
	2024		2023
Deferred revenue at beginning of period	$	(21.9)	$	(32.4)
Revenue deferred		(84.4)		(66.8)
Revenue recognized		74.2		61.1
Other(1)		3.9		1.0
Deferred revenue at end of period	$	(28.2)	$	(37.1)

(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
	August 31,
	2024		2023
Parts Supply:
Commercial	$	210.4	$	206.0
Government and defense		39.3		30.8
	$	249.7	$	236.8
Repair & Engineering
Commercial	$	191.2	$	121.6
Government and defense		26.4		15.9
	$	217.6	$	137.5
Integrated Solutions:
Commercial	$	70.0	$	62.8
Government and defense		98.9		93.5
	$	168.9	$	156.3
Expeditionary Services:
Commercial	$	1.3	$	2.1
Government and defense		24.2		17.0
	$	25.5	$	19.1

Schedule of sales by geographic region

	Three Months Ended
	August 31,
	2024		2023
U.S./Canada	$	473.4	$	408.9
Europe/Africa		108.8		91.4
Asia/South Pacific		64.0		41.2
Other		15.5		8.2
	$	661.7	$	549.7