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Revenue (Tables) | 12 Months Ended
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May 31, 2023
Revenue from Contract with Customer [Abstract] |
Trade Accounts Receivable Net of Allowances and Net Contract Assets | Trade accounts receivable, net of allowances, and net contract assets consisted of the following:
Year Ended May 31, |  | 2023 |  |  | 2022 |  |  | $ Change |  |  | % Change |
(In thousands, except percents) |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable, less allowances |  | $ | 1,503,040 |  |  | $ | 1,432,632 |  |  | $ | 70,408 |  |  |  | 4.9 | %
Contract assets |  | $ | 49,188 |  |  | $ | 57,234 |  |  | $ | (8,046 | ) |  |  | -14.1 | %
Contract liabilities - short-term |  |  | (42,396 | ) |  |  | (44,938 | ) |  |  | 2,542 |  |  |  | -5.7 | %
Net Contract Assets |  | $ | 6,792 |  |  | $ | 12,296 |  |  | $ | (5,504 | ) |  |  | -44.8 | %
The $5.5 million decrease in our net contract assets from May 31, 2022 to May 31, 2023, resulted primarily due to the timing and volume of construction jobs in progress at May 31, 2023 versus May 31, 2022. During the years ended May 31, 2023 and May 31, 2022 we recognized $26.6 million and $24.5 million of revenue, which was included in contract liabilities as of May 31, 2022 and 2021, respectively.
Summary of Activity for Allowance for Credit Losses | The following tables summarize the activity for the allowance for credit losses for the fiscal year ended May 31, 2023:
(In thousands) |  |  |
Balance at June 1, 2022 |  | $ | 46,669 |
Bad debt provision |  |  | 13,557 |
Uncollectible accounts written off, net of recoveries |  |  | (9,780 | )
Translation adjustments |  |  | (964 | )
Balance at May 31, 2023 |  | $ | 49,482 |

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- Definition Tabular disclosure of allowance for credit loss on accounts receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 13 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447 + Details
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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045 + Details
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