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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
May 31, 2014
May 31, 2013
May 31, 2012
Cash flows - operating activities:      
Net income (loss) $ 44.4 $ 31.1 $ 102.4
Earnings (loss) from discontinued operations, net of tax 0.1 (4.7) (5.7)
Earnings (loss) from continuing operations 44.3 35.8 108.1
Adjustments to reconcile earnings (loss) from continuing operations to net cash provided by (used in) operating activities of continuing operations:      
Provision for losses on accounts receivable 8.2 6.8 12.3
Provision for losses on inventory 25.1 27.2 48.1
Provision for losses on royalty advances 6.5 4.7 6.5
Loss on subleases 0 0 6.2
Amortization of prepublication and production costs 60.4 48.9 55.1
Depreciation and amortization 62.7 68.6 68.8
Amortization of pension and post-retirement actuarial gains and losses 5.6 4.8 4.6
Deferred income taxes 8.9 19.6 (37.5)
Stock-based compensation 9.3 6.3 12.2
Income from equity investments (2.6) (2.3) (1.3)
Non cash write off related to asset impairment 28.0 7.2 0.8
Unrealized loss on investments 5.8 0 0
Changes in assets and liabilities, net of amounts acquired:      
Accounts receivable (48.5) 94.4 (108.7)
Inventories (21.3) (9.9) (40.4)
Prepaid expenses and other current assets 24.9 (14.2) 10.1
Deferred promotion costs (0.1) 0.3 0
Royalty advances (7.6) (7.0) (6.2)
Accounts payable (11.2) 35.6 (0.3)
Other accrued expenses 7.6 (53.4) 64.7
Accrued royalties (0.3) (58.5) 58.2
Deferred revenue 0.7 1.1 (1.7)
Pension and post-retirement liabilities (16.2) (20.8) (7.0)
Other noncurrent liabilities (29.4) (3.6) 5.9
Other, net (3.9) 0.4 3.2
Total adjustments 112.6 156.2 153.6
Net cash provided by (used in) operating activities of continuing operations 156.9 192.0 261.7
Net cash provided by (used in) operating activities of discontinued operations (0.1) (2.9) (1.5)
Net cash provided by (used in) operating activities 156.8 189.1 260.2
Cash flows - investing activities:      
Prepublication and production expenditures (66.1) (73.8) (58.8)
Additions to property, plant and equipment (27.0) (54.6) (53.7)
Acquisition related payments (1.0) (0.3) (9.5)
Purchase of Building - 555 Broadway (253.9) 0 0
Other 2.3 0.8 0.8
Net cash provided by (used in) investing activities of continuing operations (345.7) (127.9) (121.2)
Net cash provided by (used in) investing activities of discontinued operations 0 3.9 (0.1)
Net cash provided by (used in) investing activities (345.7) (124.0) (121.3)
Cash flows - financing activities:      
Net borrowings under credit agreement and revolving loan 120.0 0 0
Repayment of term loan 0 0 (50.2)
Repayment of 5.00% notes 0 (153.0) 0
Borrowings under lines of credit 207.4 23.2 89.2
Repayments of lines of credit (193.5) (27.5) (80.6)
Repayment of capital lease obligations (0.2) (1.0) (0.7)
Reacquisition of common stock (6.2) (11.8) (13.1)
Proceeds pursuant to stock-based compensation plans 11.2 13.9 22.4
Payment of dividends (17.8) (15.9) (13.2)
Other 1.6 (0.6) (1.2)
Net cash provided by (used in) financing activities 122.5 (172.7) (47.4)
Effect of exchange rate changes on cash and cash equivalents (0.1) 0.1 (1.9)
Net increase (decrease) in cash and cash equivalents (66.5) (107.5) 89.6
Cash and cash equivalents at beginning of period 87.4 194.9 105.3
Cash and cash equivalents at end of period 20.9 87.4 194.9
Supplemental Information:      
Income taxes payments (refunds), net 2.0 30.0 61.0
Interest paid $ 7.1 $ 15.1 $ 15.3