Employee Benefit Plans (Tables)

12 Months Ended

May 31, 2023

Employee Benefit Plans

Schedule of change to the entity's projected benefit obligation and the fair value of plan assets for pension plans

	Merged		Other U.S.		Netherlands
	U.S. Plan		Plans		Plan		Total
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	60.1	$	3.7	$	56.4	$	120.2
Service cost		0.3		—		0.2		0.5
Interest cost		1.7		0.1		1.5		3.3
Net actuarial gain		(4.4)		(0.5)		(4.6)		(9.5)
Benefits and administrative payments		(4.0)		(0.3)		(1.5)		(5.8)
Foreign currency translation adjustment		—		—		(0.7)		(0.7)
Projected benefit obligation at end of year	$	53.7	$	3.0	$	51.3	$	108.0
Change in the fair value of plan assets:
Fair value of plan assets at beginning of year	$	69.0	$	—	$	57.2	$	126.2
Actual return on plan assets		(2.6)		—		(4.8)		(7.4)
Employer contributions		—		0.3		—		0.3
Benefits and administrative payments		(4.0)		(0.3)		(1.5)		(5.8)
Foreign currency translation adjustment		—		—		(0.7)		(0.7)
Fair value of plan assets at end of year	$	62.4	$	—	$	50.2	$	112.6
Funded status at end of year	$	8.7	$	(3.0)	$	(1.1)	$	4.6
Accumulated other comprehensive loss	$	25.7	$	0.1	$	6.3	$	32.1

	Merged		Other U.S.		Netherlands
	U.S. Plan		Plans		Plan		Total
Change in projected benefit obligation:
Projected benefit obligation at beginning of year	$	70.9	$	4.4	$	83.7	$	159.0
Service cost		0.3		—		1.2		1.5
Interest cost		2.0		0.1		1.0		3.1
Participant contributions		—		—		0.1		0.1
Net actuarial loss		(7.6)		(0.4)		(17.0)		(25.0)
Benefits and administrative payments		(3.0)		(0.4)		(1.7)		(5.1)
Settlements		(2.5)		—		—		(2.5)
Curtailment		—		—		(2.0)		(2.0)
Foreign currency translation adjustment		—		—		(8.9)		(8.9)
Projected benefit obligation at end of year	$	60.1	$	3.7	$	56.4	$	120.2
Change in the fair value of plan assets:
Fair value of plan assets at beginning of year	$	81.3	$	—	$	77.1	$	158.4
Actual return on plan assets		(6.8)		—		(9.9)		(16.7)
Employer contributions		—		0.4		0.1		0.5
Participant contributions		—		—		0.1		0.1
Benefits and administrative payments, including settlements		(5.5)		(0.4)		(1.7)		(7.6)
Foreign currency translation adjustment		—		—		(8.5)		(8.5)
Fair value of plan assets at end of year	$	69.0	$	—	$	57.2	$	126.2
Funded status at end of year	$	8.9	$	(3.7)	$	0.8	$	6.0
Accumulated other comprehensive loss	$	26.2	$	0.7	$	3.9	$	30.9

Schedule of amounts recognized in the consolidated balance sheets

	May 31,
	2023		2022
Other non-current assets	$	8.7	$	9.7
Accrued liabilities		(0.2)		(0.3)
Other liabilities		(3.9)		(3.4)
Funded status at end of year	$	4.6	$	6.0

Schedule of projected and accumulated benefit obligation in excess of plan assets

	May 31,
	2023		2022
Projected benefit obligation in excess of plan assets
Projected benefit obligation	$	54.3	$	3.7
Fair value of plan assets		50.2		—

	May 31,
	2023		2022
Accumulated benefit obligation in excess of plan assets
Projected benefit obligation	$	54.3	$	3.7
Accumulated benefit obligation		51.6		3.7
Fair value of plan assets		50.2		—

Schedule of components of pension expense (benefit) charged to the consolidated statement of income

	For the Year Ended May 31, 2023
	Merged		Other U.S.		Netherlands
	U.S. Plan		Plans		Plan		Total
Service cost	$	0.3	$	—	$	0.2	$	0.5
Interest cost		1.7		0.1		1.5		3.3
Expected return on plan assets		(2.0)		—		(2.1)		(4.1)
Recognized net actuarial loss		0.8		—		—		0.8
	$	0.8	$	0.1	$	(0.4)	$	0.5

	For the Year Ended May 31, 2022
	Merged		Other U.S.		Netherlands
	U.S. Plan		Plans		Plan		Total
Service cost	$	0.3	$	—	$	1.2	$	1.5
Interest cost		2.0		0.1		1.0		3.1
Expected return on plan assets		(5.0)		—		(2.5)		(7.5)
Settlements		1.4		—		—		1.4
Recognized net actuarial loss		1.2		0.1		0.2		1.5
	$	(0.1)	$	0.2	$	(0.1)	$	—

	For the Year Ended May 31, 2021
	Merged		Other U.S.		Netherlands
	U.S. Plan		Plans		Plan		Total
Service cost	$	0.3	$	—	$	2.2	$	2.5
Interest cost		2.1		0.1		0.9		3.1
Expected return on plan assets		(4.8)		—		(1.8)		(6.6)
Settlements		0.9		—		—		0.9
Recognized net actuarial loss		1.5		0.1		0.7		2.3
	$	—	$	0.2	$	2.0	$	2.2

Schedule of key weighted-average assumptions used in the measurement of the entity's projected benefit obligations

	May 31,
	2023		2022
U.S. plans	5.59	%	2.96	%
Netherlands plan	3.70		2.80

Schedule of the weighted average assumptions used to determine net periodic pension expense

	For the Year Ended
	May 31,
	2023		2022		2021
Discount rate:
U.S. plans	2.96	%	2.87	%	2.83	%
Netherlands plan	2.80		1.20		1.20
Expected long-term rate on plan assets:
U.S. plans	2.91	%	7.25	%	7.25	%
Netherlands plan	3.90		3.30		2.50

Schedule of fair value of pension plan assets

The following table sets forth by level, within the fair value hierarchy, pension plan assets at their fair value as of May 31, 2023:

	Level 1(1)		Level 2(2)		Level 3(3)		Total
Fixed income:
Government securities and corporate bond mutual funds	$	—	$	60.0	$	—	$	60.0
Funds-of-funds		—		39.9		—		39.9
Insurance annuities		—		—		10.4		10.4
Cash and cash equivalents		2.3		—		—		2.3
	$	2.3	$	99.9	$	10.4	$	112.6

The following table sets forth by level, within the fair value hierarchy, pension plan assets at their fair value as of May 31, 2022:

	Level 1(1)		Level 2(2)		Level 3(3)		Total
Fixed income:
Government securities and corporate bond mutual funds	$	—	$	49.6	$	—	$	49.6
Funds-of-funds		—		45.9		—		45.9
Insurance annuities		—		—		11.3		11.3
Cash and cash equivalents		14.6		—		—		14.6
	$	14.6	$	95.5	$	11.3		121.4
Other investments measured at net asset value (4)								4.8
Total pension plan assets							$	126.2

(1) Quoted prices in active markets for identical assets that we have the ability to access as of the reporting date.

(2) Inputs other than quoted prices included within Level 1 that are directly observable for the asset or indirectly observable through corroboration with observable market data.

(3) Unobservable inputs, such as internally developed pricing models or third party valuations for the asset due to little or no market activity for the asset.

(4) Other investments measured at net asset value included alternative investments, such as hedge funds, which are valued using the net asset value as a practical expedient.

Schedule of reconciliation of Level 3 pension assets and other investments measured at net asset value

	Hedge		Fund-of-		Insurance
	Funds		funds		Annuities		Total
Balance as of May 31, 2021	$	5.1	$	11.0	$	15.6	$	31.7
Sales		—		(11.0)		(4.3)		(15.3)
Return on plan assets related to assets still held at May 31, 2022		(0.3)		—		—		(0.3)
Balance as of May 31, 2022		4.8		—		11.3		16.1
Sales		(4.8)		—		—		(4.8)
Return on plan assets related to assets still held at May 31, 2023		—		—		(0.9)		(0.9)
Balance as of May 31, 2023	$	—	$	—	$	10.4	$	10.4

Schedule of estimated future pension payments

	Fiscal Year
											2029 to
	2024		2025		2026		2027		2028		2033
Estimated future pension payments	$	57.3	$	2.7	$	2.7	$	2.7	$	2.8	$	12.3