XML 18 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Nov. 30, 2018
Nov. 30, 2017
Cash flows - operating activities:    
Net income (loss) $ 10.3 $ (6.6)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:    
Provision for losses on accounts receivable 4.1 6.2
Provision for losses on inventory 7.7 7.2
Provision for losses on royalty advances 2.0 2.2
Amortization of prepublication and production costs 10.7 10.9
Depreciation and amortization 29.1 20.5
Pension settlement 0.0 15.4
Amortization of pension and postretirement actuarial gains and losses 0.4 1.2
Deferred income taxes (0.3) 6.2
Stock-based compensation 5.2 7.5
Income from equity investments (4.5) (2.7)
Write off related to asset impairments 0.0 6.7
Changes in assets and liabilities:    
Accounts receivable (147.5) (67.9)
Inventories (82.8) (78.3)
Prepaid expenses and other current assets (16.8) (16.5)
Income tax receivable 7.1 (7.7)
Royalty advances (6.3) (6.7)
Accounts payable 62.7 71.2
Other accrued expenses (0.9) (4.4)
Returns liability 50.4 0.0
Accrued income taxes 0.3 (0.4)
Accrued royalties 24.2 12.0
Deferred revenue 76.8 57.5
Pension and postretirement obligations (1.4) (8.7)
Other noncurrent liabilities 0.9 1.9
Other, net 8.1 1.7
Total adjustments 29.2 35.0
Net cash provided by (used in) operating activities 39.5 28.4
Cash flows - investing activities:    
Prepublication and production expenditures (20.6) (14.7)
Additions to property, plant and equipment (51.3) (54.0)
Other investment and acquisition related payments (0.6) (0.2)
Net cash provided by (used in) investing activities (72.5) (68.9)
Cash flows - financing activities:    
Borrowings under lines of credit 29.3 38.5
Repayments of lines of credit (23.2) (32.4)
Repayment of capital lease obligations (0.7) (0.6)
Reacquisition of common stock 0.0 (13.3)
Proceeds pursuant to stock-based compensation plans 5.2 3.4
Payment of dividends (10.6) (10.6)
Other 0.0 (0.9)
Net cash provided by (used in) financing activities 0.0 (15.9)
Effect of exchange rate changes on cash and cash equivalents (0.8) 0.1
Net increase (decrease) in cash and cash equivalents (33.8) (56.3)
Cash and cash equivalents at beginning of period 391.9 444.1
Cash and cash equivalents at end of period $ 358.1 $ 387.8