v3.26.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
May 31, 2026
May 31, 2025
May 31, 2024
Cash flows provided by operating activities:      
Net income $ 187.7 $ 12.5 $ 46.3
Adjustments to reconcile income to net cash provided by operating activities:      
Depreciation and amortization 72.1 55.2 40.2
Amortization of financing costs 3.2 2.6 1.0
Stock-based compensation expense 17.8 19.9 15.3
Bargain purchase gain (29.5)    
Gain on sale of building (9.8)    
Provision for credit losses 2.1 0.2 0.7
Pension settlement charge     26.7
Deferred tax benefit (3.2) (5.5) (20.5)
Loss (Earnings) from joint ventures (7.2) (5.4) 0.2
Loss (Gain) on sale of business   68.9  
Impairment charges and loss on sale of investments 1.0    
Changes in certain assets and liabilities, net of acquisitions:      
Accounts receivable 7.7 (82.8) (5.3)
Contract assets 8.1 (26.6) (17.1)
Inventories (69.0) (109.3) (90.4)
Prepaid expenses and other current assets (11.9) (5.8) (31.7)
Rotable assets supporting long-term programs (22.3) (23.9) 2.5
Accounts payable (49.9) 70.5 59.4
Accrued and other liabilities 21.6 40.9 16.9
Other (19.8) 24.7 (0.4)
Net cash provided by operating activities-continuing operations 98.7 36.1 43.8
Net cash used in operating activities-discontinued operations     (0.2)
Net cash provided by operating activities 98.7 36.1 43.6
Cash flows provided by (used in) investing activities:      
Property, plant and equipment expenditures (36.6) (34.7) (29.7)
Acquisitions, net of cash acquired (259.4) (1.5) (722.9)
Proceeds from sale of building and land 25.1 4.7  
Proceeds from sale of business 0.6 48.0  
Hangar expansion activity, net (28.8) (4.0) (1.5)
Joint venture and other investment activity (9.6) (1.8) (4.4)
Net cash provided by (used in) investing activities (308.7) 10.7 (758.5)
Cash flows provided by (used in) financing activities:      
Proceeds from equity offering, net 273.9    
Proceeds from long-term borrowings, net 153.0   550.0
Short-term borrowings (repayments), net (227.0) (20.0) 175.0
Purchase of treasury stock   (10.1) (5.1)
Stock compensation activity 11.2 (3.5) 19.6
Financing costs (2.5) (0.1) (10.3)
Net cash provided by (used in) financing activities 208.6 (33.7) 729.2
Increase (Decrease) in cash and cash equivalents (1.4) 13.1 14.3
Cash, cash equivalents, and restricted cash at beginning of year 109.2 96.1 81.8
Cash, cash equivalents, and restricted cash at end of year $ 107.8 $ 109.2 $ 96.1