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Employee Benefit Plans | 12 Months Ended
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May 31, 2018
Retirement Benefits [Abstract] |
Employee Benefit Plans | EMPLOYEE BENEFIT PLANS Pension Plans The Company has a defined benefit pension plan (the “UK Pension Plan”) that covers certain employees located in the United Kingdom who meet various eligibility requirements. Benefits are based on years of service and on a percentage of compensation near retirement. The UK Pension Plan is funded by contributions from the Company. The Company’s UK Pension Plan has a measurement date of May 31. The Company had a cash balance retirement plan (the “U.S. Pension Plan”), which covered the majority of United States employees who met certain eligibility requirements. On July 20, 2016, the Board approved the termination of the U.S. Pension Plan, as it was determined that the on-going costs of maintaining the U.S. Pension Plan were growing at a greater rate than the benefit delivered to the Company’s participating and former employees. During fiscal 2018, the U.S. Pension Plan made $37.8 of lump sum benefit payments to vested plan participants. Then, on February 14, 2018, the Company completed the final step in the distribution of the U.S. Pension Plan assets to participants by purchasing group annuity contracts for the remaining U.S. Pension Plan participants (the "U.S. Pension Plan Termination"). The total cost of these contracts was $86.3, paid to the respective insurers on February 21, 2018, resulting in a final settlement charge. The net funded asset position of the U.S. Pension Plan had previously included the value of the insurance contracts and lump sums settled prior to the purchase of such contracts. The U.S. Pension Plan's asset balance was sufficient to fund the purchase of these insurance contracts as well as any remaining benefit obligations and plan related operating expenses, with no additional cost to the Company as the plan sponsor. As a result, a remeasurement was completed on the final settlement date and a non-cash, pre-tax settlement expense of $57.3 was recognized in the Company's consolidated statement of operations in Other components of net periodic benefit (cost) as part of Earnings (loss) from continuing operations before income taxes. As of May 31, 2018, the Company has committed to a plan to utilize all remaining assets after plan-related expense payments are made, to the benefit of the Company's employees participating in the Company's 401(k) plan. Postretirement Benefits The Company provides postretirement benefits to eligible retired United States-based employees (the “Postretirement Benefits”) consisting of certain healthcare and life insurance benefits. Employees may become eligible for these benefits after completing certain minimum age and service requirements. Effective June 1, 2009, the Company modified the terms of the Postretirement Benefits, effectively excluding a large percentage of employees from the plan. At May 31, 2018, the Company had no unrecognized prior service credit. The Medicare Prescription Drug, Improvement and Modernization Act (the “Medicare Act”) introduced a prescription drug benefit under Medicare (“Medicare Part D”) as well as a Federal subsidy of 28% to sponsors of retiree health care benefit plans providing a benefit that is at least actuarially equivalent to Medicare Part D. The Company has determined that the Postretirement Benefits provided to its retiree population are in aggregate the actuarial equivalent of the benefits under Medicare Part D. As a result, in fiscal 2018, 2017 and 2016, the Company recognized a cumulative reduction of its accumulated postretirement benefit obligation of $2.3, $2.5 and $3.1, respectively, due to the Federal subsidy under the Medicare Act. The Company’s postretirement benefit plan has a measurement date of May 31. The following table sets forth the weighted average actuarial assumptions utilized to determine the benefit obligations for the U.S. Pension Plan and the UK Pension Plan (collectively the “Pension Plans”), including the Postretirement Benefits, at May 31:
| U.S. Pension Plan |  | UK Pension Plan |  | Postretirement Benefits
| 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
Weighted average assumptions used to determine benefit obligations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate | — | % |  | 2.4 | % |  | 3.5 | % |  | 2.6 | % |  | 2.5 | % |  | 3.5 | % |  | 4.0 | % |  | 3.7 | % |  | 3.7 | %
Rate of compensation increase | — |  |  | — |  |  | — |  |  | 3.9 | % |  | 4.1 | % |  | 3.8 | % |  | — |  |  | — |  |  | — |
Weighted average assumptions used to determine net periodic benefit cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate (1) | 2.3 | % |  | 3.5 | % |  | 3.8 | % |  | 2.5 | % |  | 3.5 | % |  | 3.5 | % |  | 3.7 | % |  | 3.7 | % |  | 3.8 | %
Expected short-term return on plan assets (2) | 4.8 | % |  | 4.8 | % |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |  | — |  | — |  | — |
Expected long-term return on plan assets | — |  |  | — |  |  | 4.8 | % |  | 3.4 | % |  | 3.9 | % |  | 4.2 | % |  | — |  |  | — |  |  | — |
Rate of compensation increase | — |  |  | — |  |  | — |  |  | 4.1 | % |  | 3.8 | % |  | 4.1 | % |  | — |  |  | — |  |  | — |
(1) The fiscal 2018 U.S. Pension Plan discount rate is for the period of June 1, 2017 through the plan settlement date. (2) The fiscal 2018 U.S. Pension Plan expected short-term return on plan assets is for the period of June 1, 2017 through the plan settlement date. To develop the expected long-term rate of return on plan assets assumption for the UK Pension Plan, the Company considers historical returns and future expectations. Considering this information and the potential for lower future returns due to a generally lower interest rate environment, the Company selected an assumed weighted average long-term rate of return on plan assets of 3.4% for the UK Pension Plan. In fiscal 2018, the U.S. Pension Plan utilized a short-term rate of return assumption of 4.8% due to the U.S. Pension Plan termination for the period June 1, 2017 through the plan settlement date. The following table sets forth the change in benefit obligation for the Pension Plans and Postretirement Benefits at May 31:
| U.S. Pension Plan |  | UK Pension Plan |  | Postretirement Benefits
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Change in benefit obligation: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation at beginning of year | $ | 127.8 |  |  | $ | 125.0 |  |  | $ | 41.7 |  |  | $ | 39.8 |  |  | $ | 28.8 |  |  | $ | 38.3 |
Service cost | — |  |  | — |  |  | — |  |  | — |  |  | 0.0 |  |  | 0.0 |
Interest cost | 1.9 |  |  | 3.2 |  |  | 1.1 |  |  | 1.2 |  |  | 0.8 |  |  | 0.9 |
Plan participants’ contributions | — |  |  | — |  |  | — |  |  | — |  |  | 0.4 |  |  | 0.2 |
Actuarial losses (gains) | 1.7 |  |  | 9.2 |  |  | (2.0 | ) |  | 6.3 |  |  | (2.4 | ) |  | (8.2 | )
Foreign currency translation | — |  |  | — |  |  | 1.3 |  |  | (4.3 | ) |  | — |  |  | — |
Settlement | (125.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Benefits paid, including expenses | (6.2 | ) |  | (9.6 | ) |  | (2.1 | ) |  | (1.3 | ) |  | (0.8 | ) |  | (2.4 | )
Benefit obligation at end of year | $ | — |  |  | $ | 127.8 |  |  | $ | 40.0 |  |  | $ | 41.7 |  |  | $ | 26.8 |  |  | $ | 28.8 |
The U.S. Pension Plan Termination resulted in an increase in actuarial losses for the U.S. Pension Plan in fiscal 2018. The increase primarily related to premiums associated with insurance company pricing for the obligations that were not distributed through lump sum payments. The following table sets forth the change in plan assets for the Pension Plans and Postretirement Benefits at May 31:
| U.S. Pension Plan |  | UK Pension Plan |  | Postretirement Benefits
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Change in plan assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets at beginning of year | $ | 132.5 |  |  | $ | 135.1 |  |  | $ | 29.2 |  |  | $ | 29.1 |  |  | $ | — |  |  | $ | — |
Actual return on plan assets | 0.5 |  |  | 7.0 |  |  | 1.7 |  |  | 3.5 |  |  | — |  |  | — |
Employer contributions | — |  |  | — |  |  | 1.1 |  |  | 1.1 |  |  | 2.0 |  |  | 2.2 |
Settlement | (125.2 | ) |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Benefits paid, including expenses | (6.2 | ) |  | (9.6 | ) |  | (2.1 | ) |  | (1.3 | ) |  | (2.4 | ) |  | (2.4 | )
Plan participants’ contributions | — |  |  | — |  |  | — |  |  | — |  |  | 0.4 |  |  | 0.2 |
Foreign currency translation | — |  |  | — |  |  | 0.9 |  |  | (3.2 | ) |  | — |  |  | — |
Fair value of plan assets at end of year | $ | 1.6 |  |  | $ | 132.5 |  |  | $ | 30.8 |  |  | $ | 29.2 |  |  | $ | — |  |  | $ | — |
The U.S. Pension Plan reflects a current asset of $1.6 as of May 31, 2018, that will be used to pay plan-related expenses, with the remaining balance contributed for the benefit of the Company's employees participating in the Company's 401(k) plan. The following table sets forth the net funded status of the Pension Plans and Postretirement Benefits and the related amounts recognized on the Company’s Consolidated Balance Sheets at May 31:
| U.S. Pension Plan |  | UK Pension Plan |  | Postretirement Benefits
| 2018 |  | 2017 |  | 2018 |  | 2017 |  | 2018 |  | 2017
Current assets | $ | 1.6 |  |  | $ | 4.7 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Non-current assets | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Current liabilities | — |  |  | — |  |  | — |  |  | — |  |  | (2.2 | ) |  | (2.1 | )
Non-current liabilities | — |  |  | — |  |  | (9.2 | ) |  | (12.5 | ) |  | (24.6 | ) |  | (26.7 | )
Net funded balance | $ | 1.6 |  |  | $ | 4.7 |  |  | $ | (9.2 | ) |  | $ | (12.5 | ) |  | $ | (26.8 | ) |  | $ | (28.8 | )
The following amounts were recognized in Accumulated other comprehensive income (loss) for the Pension Plans and Postretirement Benefits in the Company’s Consolidated Balance Sheets at May 31:
| 2018 |  | 2017
| U.S. Pension Plan |  | UK Pension Plan |  | Post - Retirement Benefits |  | Total |  | U.S. Pension Plan |  | UK Pension Plan |  | Post - Retirement Benefits |  | Total
Net actuarial gain (loss) | $ | — |  |  | $ | (12.5 | ) |  | $ | (1.3 | ) |  | $ | (13.8 | ) |  | $ | (51.3 | ) |  | $ | (16.3 | ) |  | $ | (3.3 | ) |  | $ | (70.9 | )
Amount recognized in Accumulated comprehensive income (loss) before tax | — |  |  | (12.5 | ) |  | (1.3 | ) |  | (13.8 | ) |  | (51.3 | ) |  | (16.3 | ) |  | (3.3 | ) |  | (70.9 | )
Accumulated other comprehensive loss of $55.0 for the U.S Pension Plan was reversed during fiscal 2018 as a result of the U.S. Pension Plan Termination in fiscal 2018. For the fiscal year ended May 31, 2018, the Company recognized final pretax settlement charges of $57.3 in Other components of net periodic benefit (cost), related to the settlement of the U.S Pension Plan and the related purchase of insurance company group annuity contracts. The estimated net loss for the UK Pension Plan that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost over the fiscal year ending May 31, 2019 is $0.9. The estimated net loss for the Postretirement Benefits plan that will be amortized from Accumulated other comprehensive loss into net periodic benefit cost over the fiscal year ending May 31, 2019 is less than $0.1. Income tax expense of $20.9, income tax expense of $0.4 and income tax benefit of $1.8 were recognized in Accumulated other comprehensive loss at May 31, 2018, 2017 and 2016, respectively. The following table sets forth the projected benefit obligations, accumulated benefit obligations and the fair value of plan assets with respect to the Pension Plans as of May 31:
| U.S. Pension Plan |  | UK Pension Plan
| 2018 |  | 2017 |  | 2018 |  | 2017
Projected benefit obligations | $ | — |  |  | $ | 127.8 |  |  | $ | 40.0 |  |  | $ | 41.7 |
Accumulated benefit obligations | — |  |  | 127.8 |  |  | 39.4 |  |  | 40.9 |
Fair value of plan assets | 1.6 |  |  | 132.5 |  |  | 30.8 |  |  | 29.2 |
The following table sets forth the net periodic (benefit) cost for the Pension Plans and Postretirement Benefits for the fiscal years ended May 31:
| U.S. Pension Plan |  | UK Pension Plan |  | Postretirement Benefits
| 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016 |  | 2018 |  | 2017 |  | 2016
Components of net (benefit) cost: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Service cost | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 0.0 |
Interest cost | 1.9 |  |  | 3.2 |  |  | 4.6 |  |  | 1.1 |  |  | 1.2 |  |  | 1.5 |  |  | 0.8 |  |  | 0.9 |  |  | 1.4 |
Expected return on assets | (4.1 | ) |  | (6.1 | ) |  | (6.5 | ) |  | (1.0 | ) |  | (1.0 | ) |  | (1.3 | ) |  | — |  |  | — |  |  | — |
Net amortization and deferrals | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (0.1 | )
Settlement charge | 57.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Amortization of net actuarial loss | 0.9 |  |  | 0.9 |  |  | 0.8 |  |  | 1.2 |  |  | 0.8 |  |  | 0.9 |  |  | 0.1 |  |  | 0.4 |  |  | 2.8 |
Net periodic (benefit) cost | $ | 56.0 |  |  | $ | (2.0 | ) |  | $ | (1.1 | ) |  | $ | 1.3 |  |  | $ | 1.0 |  |  | $ | 1.1 |  |  | $ | 0.9 |  |  | $ | 1.3 |  |  | $ | 4.1 |
On May 31, 2016, the Company changed the approach used to measure service and interest costs for pension and other postretirement benefits. The Company previously measured service and interest costs utilizing a single weighted-average discount rate derived from the yield curve used to measure the plan obligations. The Company elected to measure service and interest costs by applying the specific spot rates along that yield curve to the plans’ liability cash flows. This change did not affect the measurement of the Company's plan obligations. On May 31, 2017, the U.S. Pension Plan Termination was considered imminent and likely to occur during fiscal 2018. As such, the Company included estimates for the anticipated amount of lump sum payments to be distributed in fiscal 2018 as well as estimated insurance company pricing on the portion of the obligation not distributed through lump sum payments. This change did affect the measurement of the Company's U.S. Pension Plan obligations as of May 31, 2017. The Net periodic benefit (cost) for the U.S. Pension Plan for the period ended May 31, 2017 was not affected. Plan Assets The Company’s investment policy with regard to the assets in the UK Pension Plan is to actively manage, within acceptable risk parameters, certain asset classes where the potential exists to outperform the broader market. The U.S. Pension Plan Termination was considered imminent and likely to occur during fiscal 2018 and the plan assets were invested in short term cash and cash equivalent investments. The following table sets forth the total weighted average asset allocations for the Pension Plans by asset category at May 31:
| U.S. Pension Plan |  | UK Pension Plan
| 2018 |  | 2017 |  | 2018 |  | 2017
Equity securities | — | % |  | 13.4 | % |  | 38.6 | % |  | 38.8 | %
Debt securities | — | % |  | 76.5 | % |  | — | % |  | 32.8 | %
Cash and cash equivalents | 100.0 | % |  | — | % |  | 2.6 | % |  | 0.0 | %
Liability-driven instruments | — | % |  | — | % |  | 32.8 | % |  | — | %
Real estate | — | % |  | — | % |  | 7.5 | % |  | 6.9 | %
Other | — | % |  | 10.1 | % |  | 18.5 | % |  | 21.5 | %
| 100.0 | % |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
The following table sets forth the targeted weighted average asset allocations for the UK Pension Plan included in the Company’s investment policy:
|  | UK Pension Plan
Equity securities |  | 38 | %
Liability-driven instruments and other |  | 55 | %
Real estate |  | 7 | %
Total |  | 100 | %
The fair values of the Company’s Pension Plans’ assets are measured using Level 1, Level 2 and Level 3 fair value measurements. For a more complete description of fair value measurements see Note 19, “Fair Value Measurements.” The following table sets forth the measurement of the Company’s Pension Plans’ assets at fair value by asset category at the respective dates:
| Assets at Fair Value as of May 31, 2018
| U.S. Pension Plan |  | UK Pension Plan |  | U.S. Pension Plan |  | UK Pension Plan |  | U.S. Pension Plan |  | UK Pension Plan |  | Total
| Level 1 |  | Level 2 |  | Level 3 |  |
Cash and cash equivalents | $ | 1.6 |  |  | $ | 0.8 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2.4 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. (1) | — |  |  | 1.5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1.5 |
International (2) | — |  |  | 10.4 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.4 |
Pooled, Common and Collective Funds (3) | — |  |  | — |  |  | — |  |  | 10.1 |  |  | — |  |  | — |  |  | 10.1 |
Annuities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5.7 |  |  | 5.7 |
Real estate (6) | — |  |  | — |  |  | — |  |  | 2.3 |  |  | — |  |  | — |  |  | 2.3 |
Total | $ | 1.6 |  |  | $ | 12.7 |  |  | $ | — |  |  | $ | 12.4 |  |  | $ | — |  |  | $ | 5.7 |  |  | $ | 32.4 |
| Assets at Fair Value as of May 31, 2017
| U.S. Pension Plan |  | UK Pension Plan |  | U.S. Pension Plan |  | UK Pension Plan |  | U.S. Pension Plan |  | UK Pension Plan |  | Total
| Level 1 |  | Level 2 |  | Level 3 |  |
Cash and cash equivalents | $ | 18.4 |  |  | $ | 0.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 18.9 |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. (1) | 12.7 |  |  | 1.0 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13.7 |
International (2) | — |  |  | 10.3 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10.3 |
Pooled, Common and Collective Funds (3) (4) | — |  |  | — |  |  | 101.4 |  |  | — |  |  | — |  |  | — |  |  | 101.4 |
Fixed Income (5) | — |  |  | — |  |  | — |  |  | 9.6 |  |  | — |  |  | — |  |  | 9.6 |
Annuities | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5.8 |  |  | 5.8 |
Real estate (6) | — |  |  | — |  |  | — |  |  | 2.0 |  |  | — |  |  | — |  |  | 2.0 |
Total | $ | 31.1 |  |  | $ | 11.8 |  |  | $ | 101.4 |  |  | $ | 11.6 |  |  | $ | — |  |  | $ | 5.8 |  |  | $ | 161.7 |
(1) | Funds which invest in a diversified portfolio of publicly traded U.S. common stocks of large-cap, medium-cap and small-cap companies. There are no restrictions on these investments.
(2) | Funds which invest in a diversified portfolio of publicly traded common stocks of non-U.S. companies, primarily in Europe and Asia. There are no restrictions on these investments.
(3) | Funds which invest in UK government bonds and bond index-linked investments and interest rate and inflation swaps. There are no restrictions on these investments.
(4) | Funds which invest in bond index funds available to certain qualified retirement plans but not traded openly in any public exchanges. There are no restrictions on these investments.
(5) | Funds which invest in a diversified portfolio of publicly traded government bonds, corporate bonds and mortgage-backed securities. There are no restrictions on these investments.
(6) | Represents assets of a non-U.S. entity plan invested in a fund whose underlying investments are comprised of properties. The fund has publicly available quoted market prices and there are no restrictions on these investments.
The Company has purchased annuities to service fixed payments to certain retired plan participants in the UK. These annuities are purchased from investment grade counterparties. These annuities are not traded on open markets and are therefore valued based upon the actuarial determined valuation, and related assumptions, of the underlying projected benefit obligation, a Level 3 valuation technique. The fair value of these assets was $5.7 and $5.8 at May 31, 2018 and May 31, 2017, respectively. The following table summarizes the changes in fair value of these Level 3 assets for the fiscal years ended May 31, 2018 and 2017:
Balance at May 31, 2016 | $ | 5.5 |
Actual Return on Plan Assets: |  |
Relating to assets still held at May 31, 2016 | 1.2 |
Relating to assets sold during the year | — |
Purchases, sales and settlements, net | — |
Transfers in and/or out of Level 3 | (0.3 | )
Foreign currency translation | (0.6 | )
Balance at May 31, 2017 | $ | 5.8 |
Actual Return on Plan Assets: |  |
Relating to assets still held at May 31, 2017 | (0.3 | )
Relating to assets sold during the year | — |
Purchases, sales and settlements, net | — |
Transfers in and/or out of Level 3 | — |
Foreign currency translation | 0.2 |
Balance at May 31, 2018 | $ | 5.7 |
Contributions In fiscal 2019, the Company expects to make contributions of $1.2 to the UK Pension Plan. Estimated future benefit payments The following table sets forth the expected future benefit payments under the UK Pension Plan and the Postretirement Benefits by fiscal year:
| UK Pension Plan |  | Postretirement
| Pension benefits |  | Benefit payments |  | Medicare subsidy receipts
2019 | $ | 1.1 |  |  | $ | 2.1 |  |  | $ | 0.2 |
2020 | 1.0 |  |  | 2.1 |  |  | 0.2 |
2021 | 0.9 |  |  | 2.2 |  |  | 0.2 |
2022 | 1.4 |  |  | 2.2 |  |  | 0.2 |
2023 | 1.3 |  |  | 2.2 |  |  | 0.2 |
2024-2028 | 7.7 |  |  | 10.4 |  |  | 1.3 |
Beneficiary payments for the U.S. Pension Plan were paid in full in fiscal 2018. Assumed health care cost trend rates at May 31:
| 2018 |  | 2017
Health care cost trend rate assumed for the next fiscal year | 6.8 | % |  | 7.0 | %
Rate to which the cost trend is assumed to decline (the ultimate trend rate) | 5.0 | % |  | 5.0 | %
Year that the rate reaches the ultimate trend rate | 2026 |  |  | 2024 |
Assumed health care cost trend rates could have a significant effect on the amounts reported for the postretirement health care plan. A one percentage point change in assumed health care cost trend rates would have the following effects:
| 2018 |  | 2017
Total service and interest cost - 1% increase | $ | 0.1 |  |  | $ | 0.1 |
Total service and interest cost - 1% decrease | (0.1 | ) |  | (0.1 | )
Postretirement benefit obligation - 1% increase | 2.8 |  |  | 3.0 |
Postretirement benefit obligation - 1% decrease | (2.4 | ) |  | (2.6 | )
Defined contribution plans The Company also provides defined contribution plans for certain eligible employees. In the United States, the Company sponsors a 401(k) retirement plan and has contributed $7.2, $7.1 and $6.8 for fiscal years 2018, 2017 and 2016, respectively.

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