Acquisitions (Tables)

12 Months Ended

May 31, 2024

Acquisitions

Schedule of purchase price allocation

The preliminary fair value of assets acquired and liabilities assumed is as follows:

Accounts receivable	$	42.2
Contract assets		19.1
Inventory		68.3
Rotable assets		21.0
Property & equipment		36.1
Intangible assets		179.0
Investment in joint venture		17.9
Other assets		4.3
Accounts payable		(21.6)
Other liabilities		(18.6)
Net assets acquired		347.7
Goodwill		375.2
Purchase price, net of cash acquired	$	722.9

Schedule of fair value of assets acquired and liabilities assumed

Accounts receivable	$	8.8
Other assets		3.0
Intangible assets		61.7
Deferred revenue		(4.1)
Deferred tax liabilities		(15.1)
Other liabilities		(4.6)
Net assets acquired		49.7
Goodwill		63.8
Purchase price, net of cash acquired	$	113.5

Schedule of pro forma information for acquisition

	For the Year Ended May 31,
	2024		2023
Sales	$	2,523.0	$	2,239.2
Net income		56.0		48.6