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Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2018
May 31, 2017
May 31, 2016
Cash flows - operating activities:      
Net income (loss) $ (5.0) $ 52.3 $ 40.5
Earnings (loss) from discontinued operations, net of tax 0.0 (0.2) (3.5)
Earnings (loss) from continuing operations (5.0) 52.5 44.0
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 9.5 11.0 12.3
Provision for losses on inventory 18.4 16.0 12.0
Provision for losses on royalty advances 4.1 4.3 4.1
Pension settlement 57.3 0.0 0.0
Amortization of prepublication and production costs 21.8 23.3 26.4
Depreciation and amortization 44.2 39.1 39.3
Amortization of pension and postretirement actuarial gains and losses 2.2 2.1 4.4
Deferred income taxes 7.7 15.5 18.8
Stock-based compensation 10.7 10.1 9.7
Income from equity investments (4.8) (5.3) (3.5)
Non cash write off related to asset impairments 11.2 6.8 14.4
Unrealized (gain) loss on investments 0.0 0.0 (2.2)
Changes in assets and liabilities, net of amounts acquired:      
Accounts receivable (12.9) (15.2) (18.7)
Inventories (27.4) (29.4) (27.8)
Prepaid expenses and other current assets (22.1) 24.9 (34.4)
Royalty advances (7.0) (2.3) (9.1)
Accounts payable 45.9 (6.0) (12.7)
Other accrued expenses (3.1) 3.1 2.8
Accrued income taxes (1.1) 1.2 (155.2)
Accrued royalties (0.3) 2.9 5.2
Deferred revenue 0.2 0.8 2.2
Pension and postretirement obligations (4.3) (5.3) (2.1)
Other noncurrent liabilities (1.1) (3.7) 0.4
Other, net (2.6) (4.2) 1.7
Total adjustments 146.5 89.7 (112.0)
Net cash provided by (used in) operating activities of continuing operations 141.5 142.2 (68.0)
Net cash provided by (used in) operating activities of discontinued operations 0.0 (0.8) (10.9)
Net cash provided by (used in) operating activities 141.5 141.4 (78.9)
Cash flows - investing activities:      
Prepublication and production expenditures (36.1) (26.9) (25.2)
Additions to property, plant and equipment (121.5) (65.7) (35.6)
Proceeds from sale of assets 0.0 0.0 3.3
Other investment and acquisition related payments (4.4) (10.1) (3.7)
Net cash provided by (used in) investing activities of continuing operations (162.0) (102.7) (61.2)
Working capital adjustment/Proceeds from sale of discontinued assets 0.0 0.0 (2.9)
Changes in restricted cash held in escrow for discontinued assets 0.0 9.9 24.6
Net cash provided by (used in) investing activities (162.0) (92.8) (39.5)
Cash flows - financing activities:      
Borrowings under lines of credit 44.9 28.3 39.0
Repayments of lines of credit (42.0) (28.5) (36.5)
Repayment of capital lease obligations (1.3) (1.1) (0.8)
Reacquisition of common stock (27.3) (6.9) (14.4)
Proceeds pursuant to stock-based compensation plans 15.8 25.4 45.3
Payment of dividends (21.1) (20.8) (20.5)
Other (1.0) (0.5) (0.1)
Net cash provided by (used in) financing activities (32.0) (4.1) 12.0
Effect of exchange rate changes on cash and cash equivalents 0.3 (0.1) (0.7)
Net increase (decrease) in cash and cash equivalents (52.2) 44.4 (107.1)
Cash and cash equivalents at beginning of period 444.1 399.7 506.8
Cash and cash equivalents at end of period 391.9 444.1 399.7
Supplemental Information:      
Income tax payments (refunds) 14.5 3.0 183.3
Interest paid 1.4 1.4 1.6
Non cash: Property, plant and equipment additions accrued in accounts payable $ 23.7 $ 14.4 $ 0.0