Leases (Tables)

9 Months Ended

Feb. 29, 2020

The following table summarizes right-of-use assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of February 29, 2020:



	February 29, 2020	Location within Condensed Consolidated Balance Sheet
Operating leases	$71.7	Operating lease right-of-use assets, net
Finance leases	11.4	Property, plant and equipment, net
Total lease assets	$83.1

Operating leases :
Current portion	22.7	Current portion of operating lease liabilities
Non-current portion	52.0	Long-term operating lease liabilities
Total operating lease liabilities	$74.7

Finance leases :
Current portion	2.1	Other accrued expenses
Non-current portion	10.0	Other noncurrent liabilities
Total finance lease liabilities	$12.1
Total lease liabilities	$86.8

Lease Expense, Cash Flow and Weighted Average Information

The following table summarizes the activity as a result of the adoption of ASC 842 for the three and nine months ended February 29, 2020:



	Three Months Ended February 29, 2020	Nine Months Ended February 29, 2020	Location within Condensed Consolidated Statements of Operations
	Three Months Ended February 29, 2020	Nine Months Ended February 29, 2020
Operating lease expense	$7.1	$21.3	Selling, general and administrative expenses
Finance lease costs :
Depreciation of leased assets	0.6	1.5	Selling, general and administrative expenses
Accretion of lease liabilities	0.1	0.3	Interest income (expense), net
Total lease expense	$7.8	$23.1

The following table summarizes certain cash flows information related to the Company's leases for the nine months ended February 29, 2020:



	Nine Months Ended February 29, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$3.0
Operating cash flows from finance leases	0.3
Financing cash flows from finance leases	1.5

The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's leases recorded on the Company's Condensed Consolidated Balance Sheet as of February 29, 2020:



	Operating	Finance
	Leases	Leases
Weighted-average remaining lease term (years)	4.2	6.2
Weighted-average discount rate	4.0%	3.8%

Finance Lease, Maturity

The following table provides a maturity analysis summary of the Company's lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of February 29, 2020:



	Operating	Finance
	Leases	Leases
Remainder of Fiscal 2020 ⁽¹⁾	$7.1	$0.6
Fiscal 2021	23.6	2.5
Fiscal 2022	19.1	2.4
Fiscal 2023	13.0	2.3
Fiscal 2024	7.2	2.1
Fiscal 2025 and thereafter	11.4	3.7
Total lease payments	81.4	13.6
Less: interest	(6.7)	(1.5)
Total lease liabilities	$74.7	$12.1

Operating Lease, Maturity

The following table provides a maturity analysis summary of the Company's lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of February 29, 2020:



	Operating	Finance
	Leases	Leases
Remainder of Fiscal 2020 ⁽¹⁾	$7.1	$0.6
Fiscal 2021	23.6	2.5
Fiscal 2022	19.1	2.4
Fiscal 2023	13.0	2.3
Fiscal 2024	7.2	2.1
Fiscal 2025 and thereafter	11.4	3.7
Total lease payments	81.4	13.6
Less: interest	(6.7)	(1.5)
Total lease liabilities	$74.7	$12.1

(1) Fiscal 2020 includes the remaining three months of the current fiscal year ending May 31, 2020.