Financing Arrangements (Tables)

9 Months Ended

Feb. 28, 2015

Financing Arrangements

Summary of carrying amount of debt

	February 28,			May 31,
	2015			2014
Revolving credit facility expiring April 24, 2018 with interest payable monthly	$	185.0		$	130.0
Secured credit facility (secured by aircraft and related engines and components) due April 23, 2015 with floating interest rate, payable monthly	23.0			29.9
Note payable due March 9, 2017 with floating interest rate, payable semi-annually on June 1 and December 1	20.0			30.0
Notes payable due January 15, 2022 with interest at 7.25% payable semi-annually on January 15 and July 15	332.0			332.6
Convertible notes payable due March 1, 2016 with interest at 2.25% payable semi-annually on March 1 and September 1	47.3			45.7
Other(1)	36.0			65.8
Total debt	643.3			634.0
Current maturities of debt	(43.9		)	(69.7		)
Long-term debt	$	599.4		$	564.3

(1) Included in Other is a mortgage loan (secured by Wood Dale, Illinois facility) due August 1, 2015 of $11.0 million and $11.0 million, 1.75% convertible notes due February 1, 2015 of $0 and $29.8 million, and an industrial revenue bond (secured by property, plant, and equipment) due August 1, 2018 of $25.0 million and $25.0 million at February 28, 2015 and May 31, 2014, respectively.

Schedule of long-term debt and equity component (recorded in capital surplus, net of income tax benefit) of convertible notes

	February 28,			May 31,
	2015			2014
Long-term debt:
Principal amount	$	49.8		$	49.8
Unamortized discount	(2.5		)	(4.1		)
Net carrying amount	$	47.3		$	45.7
Equity component, net of tax	$	20.6		$	20.6

Schedule of interest expense associated with the convertible notes

	Three Months Ended				Nine Months Ended
	February 28,				February 28,
	2015		2014		2015		2014
Coupon interest	$	0.3	$	0.8	$	1.2	$	2.5
Amortization of deferred financing fees	—		0.1		0.1		0.3
Amortization of discount	0.4		1.5		1.7		4.4
Interest expense related to convertible notes	$	0.7	$	2.4	$	3.0	$	7.2