Revenue Recognition (Tables)

12 Months Ended

May 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue by Product Class and Over Time

The following table summarizes net sales by product class for fiscal 2025, fiscal 2024 and fiscal 2023:

(In millions)	2025		2024		2023
Product class
Direct	$	2,943.4	$	3,269.4	$	3,464.9
Toll		149.9		161.2		142.8
Total	$	3,093.3	$	3,430.6	$	3,607.7

Summary of Unbilled Receivable and Contract Assets

The following table summarizes the unbilled receivables at the end of fiscal 2025 and fiscal 2024:

(In millions)	Balance Sheet Classification	2025		2024
Unbilled receivables	Receivables	$	4.0	$	5.6
Contract assets	Prepaid expenses and other current assets	$	7.0	$	7.9

Summary of Changes in Contract Liabilities

The following table summarizes the changes in contract liabilities during fiscal 2025 and fiscal 2024:

(In millions)
Balance at May 31, 2023	$	6.0
Unearned revenue from cash received during the period		11.8
Revenue recognized related to contract liability balance		(10.2	)
Balance at May 31, 2024		7.6
Unearned revenue from cash received during the period		6.5
Revenue recognized related to contract liability balance		(8.9	)
Balance at May 31, 2025	$	5.2