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Financing Arrangements (Tables) | 6 Months Ended
--- | ---
Nov. 30, 2012
Financing Arrangements |
Summary of recourse debt |
|  | November 30, |  | May 31, |
|  | 2012 |  | 2012 |
Revolving credit facility expiring April 12, 2016 with interest payable monthly |  | $ | 300.0 |  | $ | 280.0 |
Revolving credit facility (secured by aircraft and related engines and components) due April 23, 2015 with floating interest rate, payable monthly |  | 29.3 |  | 33.0 |
Revolving credit facility subject to annual review in March with interest payable quarterly |  | 0.6 |  | 0.6 |
Note payable due July 19, 2012 with interest at 7.22%, payable monthly |  | — |  | 8.4 |
Note payable due March 15, 2014 with floating interest rate, payable monthly |  | 1.9 |  | 2.6 |
Note payable due March 9, 2017 with floating interest rate, payable quarterly |  | 45.0 |  | 50.0 |
Note payable due January 15, 2022 with interest at 7.25% payable semi-annually on January 15 and July 15 |  | 172.1 |  | 172.1 |
Mortgage loan (secured by Wood Dale, Illinois facility) due August 1, 2015 with interest at 5.01% |  | 11.0 |  | 11.0 |
Convertible notes payable due March 1, 2014 with interest at 1.625% payable semi-annually on March 1 and September 1 |  | 64.3 |  | 68.5 |
Convertible notes payable due March 1, 2016 with interest at 2.25% payable semi-annually on March 1 and September 1 |  | 42.5 |  | 46.1 |
Convertible notes payable due February 1, 2026 with interest at 1.75% payable semi-annually on February 1 and August 1 |  | 87.2 |  | 94.9 |
Industrial revenue bond (secured by trust indenture on property, plant and equipment) due August 1, 2018 with floating interest rate, payable monthly |  | 25.0 |  | 25.0 |
Total debt |  | 778.9 |  | 792.2 |
Current maturities of debt |  | (106.6 | ) | (122.8 | )
Long-term debt |  | $ | 672.3 |  | $ | 669.4 |
Schedule of long-term debt and equity component (recorded in capital surplus, net of income tax benefit) of convertible notes |
|  | November 30, |  | May 31, |
|  | 2012 |  | 2012 |
Long-term debt: |  |  |  |  |
Principal amount |  | $ | 206.4 |  | $ | 229.3 |
Unamortized discount |  | (12.4 | ) | (19.8 | )
Net carrying amount |  | $ | 194.0 |  | $ | 209.5 |
Equity component, net of tax |  | $ | 74.8 |  | $ | 74.8 |
Schedule of interest expense associated with the convertible notes |
|  | Three Months Ended |  | Six Months Ended |
|  | November 30, |  | November 30, |
|  | 2012 |  | 2011 |  | 2012 |  | 2011 |
Coupon interest |  | $ | 1.0 |  | $ | 1.2 |  | $ | 2.0 |  | $ | 2.4 |
Amortization of deferred financing fees |  | 0.1 |  | 0.2 |  | 0.3 |  | 0.4 |
Amortization of discount |  | 2.8 |  | 3.3 |  | 5.6 |  | 6.5 |
Interest expense related to convertible notes |  | $ | 3.9 |  | $ | 4.7 |  | $ | 7.9 |  | $ | 9.3 |

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