Quarterly report [Sections 13 or 15(d)]

Description of Business, Basis of Presentation, and Significant Accounting Policies (Tables)

v3.26.1
Description of Business, Basis of Presentation, and Significant Accounting Policies (Tables)
9 Months Ended
Feb. 28, 2026
Accounting Policies [Abstract]  
Schedule of Accounts Receivable, Net of Allowance for Credit Losses Accounts receivable balances are shown on the Consolidated Balance Sheets net of the allowance for credit losses as follows:

 

 

 

February 28,

 

 

May 31,

 

In millions

 

2026

 

 

2025

 

Trade receivables

 

$

 

273.4

 

 

$

 

205.4

 

Purchased receivables

 

 

 

1,199.8

 

 

 

 

1,151.1

 

Total accounts receivable, gross

 

 

 

1,473.2

 

 

 

 

1,356.5

 

Less: Allowance for credit losses

 

 

 

38.2

 

 

 

 

26.0

 

Accounts receivable, net of allowance for credit losses

 

$

 

1,435.0

 

 

$

 

1,330.5

 

Schedule of Allowance for Credit Losses Activity Related to Accounts Receivables

Allowance for credit losses activity related to accounts receivables are as follows:

 

 

 

Three months ended February 28,

 

 

Nine months ended February 28,

 

In millions

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Balance, beginning of period

 

$

 

27.0

 

 

$

 

25.1

 

 

$

 

26.0

 

 

$

 

21.3

 

Provision for credit losses

 

 

 

16.9

 

 

 

 

5.2

 

 

 

 

29.1

 

 

 

 

17.6

 

Write-offs and recoveries

 

 

 

(5.7

)

 

 

 

(6.5

)

 

 

 

(16.9

)

 

 

 

(15.1

)

Balance, end of period

 

$

 

38.2

 

 

$

 

23.8

 

 

$

 

38.2

 

 

$

 

23.8