Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.2
Leases (Tables)
 12 Months Ended
May 31, 2020
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases

$ in millions

As of May 31, 2020

Operating lease right-of-use assets, net of accumulated amortization

$

114.8

Operating lease liabilities, current(1)

37.2

Operating lease liabilities, non-current

96.9

Weighted average remaining lease term (in years)

4.6

Weighted average discount rate

2.06%

(1) The current portion of operating lease liabilities is reported in the other current liabilities line item on the Company’s Consolidated Balance Sheets.
Components of Lease Expense

Year ended May 31,

In millions

2020

Fixed payment operating lease expense

$

38.2

Variable payment operating lease expense

8.6

Short-term lease expense

0.2
Supplemental Cash Flow Information Related to Leases

Year ended May 31,

In millions

2020

Cash paid for amounts included in the measurement of lease liabilities

$

41.6

Amortization of ROU assets

34.4

ROU assets obtained in exchange for new operating lease liabilities

21.5

Lease incentives received in the form of tenant allowances and free rent

6.1
Future Lease Payments

May 31,

In millions

2020

2019(1)

2021

$

39.4

$

29.9

2022

31.6

21.3

2023

23.7

13.8

2024

18.5

10.5

2025

13.9

—

Thereafter

13.8

10.7

Total future lease payments

140.9

86.2

Less: imputed interest

6.8

—

Total operating lease liabilities

$

134.1

$

—

Current portion

$

37.2

$

—

Non-current portion

$

96.9

$

—

(1)Presented in accordance with legacy GAAP, ASC Topic 840, Leases.