Leases (Tables)

12 Months Ended

May 31, 2023

Leases

Schedule of operating lease cost

	For the Year Ended May 31,
	2023		2022		2021
Operating lease cost	$	20.3	$	20.8	$	16.4
Short-term lease cost		5.9		2.2		1.7
Variable lease cost		3.2		9.2		3.5
	$	29.4	$	32.2	$	21.6

Schedule of maturities of our lease payments

With the exception of a land lease for one of our airframe maintenance facilities that expires in 2108, our operating leases expire at various dates through 2034. Maturities of our operating lease payments as of May 31, 2023 are as follows:

2024	$	14.5
2025		12.3
2026		9.1
2027		8.4
2028		7.8
Thereafter		17.6
Total undiscounted payments		69.7
Less: Imputed interest		(9.2)
Present value of minimum lease payments		60.5
Less: Operating lease liabilities – current		(12.3)
Operating lease liabilities – non-current	$	48.2

Schedule of weighted-average remaining lease term and weighted-average discount rate

	May 31,
	2023	2022
Remaining lease term	6.9 years	7.6 years
Discount rate	3.8%	3.7%

Schedule of supplemental cash flow information related to leases

	For the Year Ended May 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities	$	14.5	$	14.1	$	15.3
Operating lease liabilities arising from obtaining ROU assets		4.5		9.5		5.2