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v3.25.2

Business Segment Information (Tables) | 12 Months Ended
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May 31, 2025
Business Segment Information |
Schedule of selected financial information for each segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31, 2025
​ | ​ | Parts | ​ | Repair & | ​ | Integrated | ​ | Expeditionary
​ |  | Supply |  | Engineering |  | Solutions |  | Services
Sales | ​ | $ | 1,099.6 | ​ | $ | 884.9 | ​ | $ | 695.3 | ​ | $ | 100.7
Cost of sales | ​ |  | 868.8 | ​ |  | 705.8 | ​ |  | 592.0 | ​ |  | 83.7
Selling, general and administrative | ​ | ​ | 76.2 | ​ | ​ | 101.0 | ​ | ​ | 66.4 | ​ | ​ | 6.9
Other segment items | ​ |  | (2.2) | ​ |  | (3.1) | ​ |  | 0.5 | ​ |  | —
Operating income | ​ | $ | 156.8 | ​ | $ | 81.2 | ​ | $ | 36.4 | ​ | $ | 10.1
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31, 2024
​ | ​ | Parts | ​ | Repair & | ​ | Integrated | ​ | Expeditionary
​ |  | Supply | ​ | Engineering | ​ | Solutions | ​ | Services
Sales | ​ | $ | 967.0 |  | $ | 640.1 |  | $ | 641.9 |  | $ | 69.9
Cost of sales | ​ |  | 758.4 | ​ |  | 520.1 | ​ |  | 540.2 | ​ |  | 57.9
Selling, general and administrative | ​ | ​ | 98.3 | ​ | ​ | 68.2 | ​ | ​ | 77.8 | ​ | ​ | 8.5
Other segment items | ​ |  | 0.5 | ​ |  | (0.7) | ​ |  | — | ​ |  | —
Operating income | ​ | $ | 109.8 | ​ | $ | 52.5 | ​ | $ | 23.9 | ​ | $ | 3.5
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31, 2023
​ | ​ | Parts | ​ | Repair & | ​ | Integrated | ​ | Expeditionary
​ |  | Supply |  | Engineering |  | Solutions |  | Services
Sales | ​ | $ | 818.4 | ​ | $ | 533.4 | ​ | $ | 546.9 | ​ | $ | 91.8
Cost of sales | ​ |  | 644.3 | ​ |  | 438.1 | ​ |  | 461.2 | ​ |  | 76.8
Selling, general and administrative | ​ | ​ | 79.9 | ​ | ​ | 58.8 | ​ | ​ | 55.2 | ​ | ​ | 7.3
Other segment items | ​ |  | 0.5 | ​ |  | 1.2 | ​ |  | — | ​ |  | —
Operating income | ​ | $ | 93.7 | ​ | $ | 35.3 | ​ | $ | 30.5 | ​ | $ | 7.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Year Ended May 31, 2025
​ | ​ | Third-Party |  | Inter-segment |  | Total
​ | ​ | Sales | ​ | Sales | ​ | Sales
Parts Supply | ​ | $ | 1,099.6 | ​ | $ | 19.8 | ​ | $ | 1,119.4
Repair & Engineering |  | ​ | 884.9 | ​ |  | 90.3 | ​ |  | 975.2
Integrated Solutions |  | ​ | 695.3 | ​ |  | 2.1 | ​ |  | 697.4
Expeditionary Services |  | ​ | 100.7 | ​ |  | — | ​ |  | 100.7
​ | ​ | $ | 2,780.5 | ​ | $ | 112.2 | ​ | $ | 2,892.7
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Year Ended May 31, 2024
​ | ​ | Third-Party |  | Inter-segment |  | Total
​ | ​ | Sales | ​ | Sales | ​ | Sales
Parts Supply | ​ | $ | 967.0 | ​ | $ | 8.6 | ​ | $ | 975.6
Repair & Engineering |  | ​ | 640.1 | ​ |  | 87.8 | ​ |  | 727.9
Integrated Solutions |  | ​ | 641.9 | ​ |  | 0.9 | ​ |  | 642.8
Expeditionary Services |  | ​ | 69.9 | ​ |  | — | ​ |  | 69.9
​ | ​ | $ | 2,318.9 | ​ | $ | 97.3 | ​ | $ | 2,416.2
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | For the Year Ended May 31, 2023
​ | ​ | Third-Party |  | Inter-segment |  | Total
​ | ​ | Sales | ​ | Sales | ​ | Sales
Parts Supply | ​ | $ | 818.4 | ​ | $ | 19.3 | ​ | $ | 837.7
Repair & Engineering |  | ​ | 533.4 | ​ |  | 79.8 | ​ |  | 613.2
Integrated Solutions |  | ​ | 546.9 | ​ |  | 0.2 | ​ |  | 547.1
Expeditionary Services |  | ​ | 91.8 | ​ |  | — | ​ |  | 91.8
​ | ​ | $ | 1,990.5 | ​ | $ | 99.3 | ​ | $ | 2,089.8
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31,
​ |  | 2025 |  | 2024 |  | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Segment operating income: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Parts Supply | ​ | $ | 156.8 | ​ | $ | 109.8 | ​ | $ | 93.7
Repair & Engineering | ​ | ​ | 81.2 | ​ | ​ | 52.5 | ​ | ​ | 35.3
Integrated Solutions | ​ |  | 36.4 | ​ |  | 23.9 | ​ |  | 30.5
Expeditionary Services | ​ | ​ | 10.1 | ​ | ​ | 3.5 | ​ | ​ | 7.7
​ | ​ | ​ | 284.5 | ​ | ​ | 189.7 | ​ | ​ | 167.2
Corporate and other | ​ | ​ | (99.3) | ​ | ​ | (60.5) | ​ | ​ | (33.3)
Operating income | ​ | ​ | 185.2 | ​ | ​ | 129.2 | ​ | ​ | 133.9
Pension settlement charge | ​ | ​ | — | ​ | ​ | (26.7) | ​ | ​ | —
Losses related to sale and exit of business | ​ |  | (72.4) | ​ |  | (2.8) | ​ |  | (0.7)
Other expense, net | ​ |  | (0.3) | ​ |  | (0.4) | ​ |  | (0.8)
Interest expense | ​ | ​ | (75.4) | ​ | ​ | (43.2) | ​ | ​ | (12.2)
Interest income | ​ | ​ | 1.8 | ​ | ​ | 2.2 | ​ | ​ | 1.0
Income from continuing operations before income taxes | ​ | $ | 38.9 | ​ | $ | 58.3 | ​ | $ | 121.2
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | May 31,
​ |  | 2025 |  | 2024
Total assets: | ​ | ​ | ​ | ​ | ​ | ​
Parts Supply | ​ | $ | 818.8 | ​ | $ | 732.8
Repair & Engineering | ​ | ​ | 1,155.2 | ​ | ​ | 1,235.4
Integrated Solutions | ​ | ​ | 620.8 | ​ | ​ | 542.1
Expeditionary Services | ​ | ​ | 79.0 | ​ | ​ | 79.1
Corporate and discontinued operations | ​ | ​ | 170.8 | ​ | ​ | 180.6
​ | ​ | $ | 2,844.6 | ​ | $ | 2,770.0
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31,
​ |  | 2025 |  | 2024 |  | 2023
Capital expenditures: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Parts Supply | ​ | $ | 0.2 | ​ | $ | 0.8 | ​ | $ | 2.2
Repair & Engineering | ​ | ​ | 20.9 | ​ | ​ | 11.9 | ​ | ​ | 15.1
Integrated Solutions | ​ | ​ | 5.7 | ​ | ​ | 5.2 | ​ | ​ | 5.7
Expeditionary Services | ​ | ​ | 6.1 | ​ | ​ | 8.5 | ​ | ​ | 6.1
Corporate and other | ​ | ​ | 1.8 | ​ | ​ | 3.3 | ​ | ​ | 0.4
​ | ​ | $ | 34.7 | ​ | $ | 29.7 | ​ | $ | 29.5
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31,
​ |  | 2025 |  | 2024 |  | 2023
Depreciation and amortization:1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Parts Supply | ​ | $ | 9.7 | ​ | $ | 8.4 | ​ | $ | 6.2
Repair & Engineering | ​ | ​ | 26.4 | ​ | ​ | 12.2 | ​ | ​ | 7.6
Integrated Solutions | ​ | ​ | 18.3 | ​ | ​ | 17.4 | ​ | ​ | 11.9
Expeditionary Services | ​ | ​ | 1.6 | ​ | ​ | 1.5 | ​ | ​ | 1.5
Corporate | ​ | ​ | 19.1 | ​ | ​ | 17.0 | ​ | ​ | 13.5
​ | ​ | $ | 75.1 | ​ | $ | 55.5 | ​ | $ | 40.7
1 | Includes amortization of stock-based compensation.
Schedule of sales to the U.S. department of defense, other U.S. government agencies and their contractors by segment | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31, |
​ |  | 2025 |  | 2024 |  | 2023 |
Parts Supply | ​ | $ | 143.3 | ​ | $ | 99.3 | ​ | $ | 111.0 | ​
Repair & Engineering | ​ | ​ | 81.6 | ​ | ​ | 61.0 | ​ | ​ | 48.5 | ​
Integrated Solutions | ​ | ​ | 372.1 | ​ | ​ | 356.6 | ​ | ​ | 340.2 | ​
Expeditionary Services | ​ |  | 90.6 | ​ |  | 59.2 | ​ |  | 77.3 | ​
​ | ​ | $ | 687.6 | ​ | $ | 576.1 | ​ | $ | 577.0 | ​
Percentage of total sales | ​ |  | 24.7 | % |  | 24.8 | % |  | 29.0 | %
Schedule of sales across the major customer markets for each of our operating segments | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31,
​ |  | 2025 |  | 2024 |  | 2023
Parts Supply: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 879.2 | ​ | $ | 800.6 | ​ | $ | 645.0
Government and defense | ​ |  | 220.4 | ​ |  | 166.4 | ​ |  | 173.4
​ | ​ | $ | 1,099.6 | ​ | $ | 967.0 | ​ | $ | 818.4
Repair & Engineering: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 795.4 | ​ | $ | 574.1 | ​ | $ | 478.5
Government and defense | ​ |  | 89.5 | ​ |  | 66.0 | ​ |  | 54.9
​ | ​ | $ | 884.9 | ​ | $ | 640.1 | ​ | $ | 533.4
Integrated Solutions: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | $ | 297.5 | ​ | $ | 257.1 | ​ | $ | 197.0
Government and defense | ​ |  | 397.8 | ​ |  | 384.8 | ​ |  | 349.9
​ | ​ | $ | 695.3 | ​ | $ | 641.9 | ​ | $ | 546.9
Expeditionary Services: | ​ |  |  | ​ |  |  | ​ |  |
Commercial | ​ | $ | 4.0 | ​ | $ | 6.1 | ​ | $ | 8.3
Government and defense | ​ |  | 96.7 | ​ |  | 63.8 | ​ |  | 83.5
​ | ​ | $ | 100.7 | ​ | $ | 69.9 | ​ | $ | 91.8
Schedule of sales by geographic data | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Year Ended May 31,
​ |  | 2025 |  | 2024 |  | 2023
Parts Supply: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 631.6 | ​ | $ | 532.1 | ​ | $ | 493.3
Europe/Africa | ​ | ​ | 263.2 | ​ | ​ | 252.9 | ​ | ​ | 190.8
Asia | ​ |  | 166.1 | ​ |  | 146.4 | ​ |  | 108.9
Other | ​ |  | 38.7 | ​ |  | 35.6 | ​ |  | 25.4
​ | ​ | $ | 1,099.6 | ​ | $ | 967.0 | ​ | $ | 818.4
Repair & Engineering: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 715.8 | ​ | $ | 572.1 | ​ | $ | 488.6
Europe/Africa | ​ |  | 89.6 | ​ |  | 40.6 | ​ |  | 25.2
Asia | ​ | ​ | 75.8 | ​ | ​ | 24.6 | ​ | ​ | 12.0
Other | ​ |  | 3.7 | ​ |  | 2.8 | ​ |  | 7.6
​ | ​ | $ | 884.9 | ​ | $ | 640.1 | ​ | $ | 533.4
Integrated Solutions: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
North America | ​ | $ | 581.3 | ​ | $ | 536.0 | ​ | $ | 461.7
Europe/Africa | ​ |  | 78.0 | ​ |  | 78.0 | ​ |  | 51.4
Other | ​ |  | 36.0 | ​ |  | 27.9 | ​ |  | 33.8
​ | ​ | $ | 695.3 | ​ | $ | 641.9 | ​ | $ | 546.9
Expeditionary Services: | ​ |  |  | ​ |  |  | ​ |  |
North America | ​ | $ | 99.4 | ​ | $ | 68.6 | ​ | $ | 89.6
Other | ​ |  | 1.3 | ​ |  | 1.3 | ​ |  | 2.2
​ | ​ | $ | 100.7 | ​ | $ | 69.9 | ​ | $ | 91.8
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | May 31,
​ |  | 2025 |  | 2024
Long-lived assets: | ​ | ​ |  | ​ | ​ |
United States | ​ | $ | 1,110.8 | ​ | $ | 1,174.6
Europe | ​ |  | 93.8 | ​ |  | 90.9
Other | ​ |  | 129.4 | ​ |  | 114.9
​ | ​ | $ | 1,334.0 | ​ | $ | 1,380.4
​

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