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Revenue Recognition (Tables)
9 Months Ended
Feb. 28, 2026
Revenue from Contract with Customer [Abstract]  
Revenue by Product Class and Over Time

The following table summarizes net sales by product class for the periods presented:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

February 28,

 

 

February 28,

 

 

February 28,

 

 

February 28,

 

(In millions)

2026

 

 

2025

 

 

2026

 

 

2025

 

Product class

 

 

 

 

 

 

 

 

 

 

 

Direct

$

743.0

 

 

$

653.8

 

 

$

2,426.6

 

 

$

2,144.6

 

Toll

 

26.8

 

 

 

33.6

 

 

 

88.0

 

 

 

115.8

 

Total

$

769.8

 

 

$

687.4

 

 

$

2,514.6

 

 

$

2,260.4

 

Summary of Unbilled Receivables and Contract Assets

The following table summarizes the unbilled receivables and contract assets at the dates indicated:

 

 

 

 

February 28,

 

 

May 31,

 

(In millions)

Balance Sheet Classification

 

2026

 

 

2025

 

Unbilled receivables

Receivables

 

$

4.1

 

 

$

4.0

 

Contract assets

Prepaid expenses and other current assets

 

$

11.1

 

 

$

7.0

 

 

Summary of Changes in Contract Liabilities

The following table summarizes the changes in contract liabilities for the periods presented:

 

(In millions)

 

 

 

Balance at May 31, 2025

 

$

5.2

 

Unearned revenue from cash received during the period

 

 

4.1

 

Revenue recognized related to contract liability balance

 

 

(3.4

)

Balance at February 28, 2026

 

$

5.9