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Leases (Tables)

12 Months Ended

May 31, 2025

Leases

Schedule of operating lease cost

​

​	​	​	​	​	​	​	​	​	​
​		For the Year Ended May 31,
​	​	2025			2024			2023
Operating lease cost	​	$	28.0	​	$	23.9	​	$	20.3
Short-term lease cost	​		6.0	​		6.6	​		5.9
Variable lease cost	​		5.9	​		5.4	​		3.2
​	​	$	39.9	​	$	35.9	​	$	29.4

Schedule of maturities of our lease payments

With the exception of a land lease for one of our airframe maintenance facilities that expires in 2108, our operating leases expire at various dates through 2045. Excluding leases related to our discontinued operations, maturities of our operating lease payments as of May 31, 2025 are as follows:

​	​	​	​
2026		$	15.3
2027	​	​	11.9
2028	​		10.6
2029	​		9.8
2030	​		6.7
Thereafter	​		95.8
Total undiscounted payments	​		150.1
Less: Imputed interest	​		(58.2)
Present value of minimum lease payments	​		91.9
Less: Operating lease liabilities – current	​		(12.3)
Operating lease liabilities – non-current	​	$	79.6

Schedule of weighted-average remaining lease term and weighted-average discount rate

​

​	​	​	​	​
​		May 31,
​	​	2025		2024
Remaining lease term		11.9 years		12.0 years
Discount rate		6.9%	​	5.9%

Schedule of supplemental cash flow information related to leases

​

​	​	​	​	​	​	​	​	​	​
​		For the Year Ended May 31,
​		2025			2024			2023
Cash paid for amounts included in the measurement of lease liabilities	​	$	15.9	​	$	16.4	​	$	14.5
Operating lease liabilities arising from obtaining ROU assets	​		21.7	​		42.0	​		4.5

​

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Tabular disclosure for supplemental cash flow information related to leases.

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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