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Employee Benefit Plans (Tables)
9 Months Ended
Feb. 28, 2019
Retirement Benefits [Abstract]  
Schedule of Net Benefit Costs
The following table sets forth the components of net periodic benefit (cost) for the periods indicated under the Company’s terminated cash balance retirement plan for its United States employees meeting certain eligibility requirements (the “U.S. Pension Plan”) and the defined benefit pension plan of Scholastic Ltd., an indirect subsidiary of Scholastic Corporation located in the United Kingdom (the “UK Pension Plan” and, together with the U.S. Pension Plan, the “Pension Plans”). Also included are postretirement benefits, consisting of certain healthcare and life insurance benefits provided by the Company to its eligible retired United States-based employees (the “Postretirement Benefits”).
 
U.S. Pension Plan
 
UK Pension Plan
 
Postretirement Benefits
 
Three months ended February 28,
 
Three months ended February 28,
 
Three months ended February 28,
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Components of net periodic (benefit) cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$

 
$

 
$

 
$
0.0

 
$
0.0

Interest cost

 
0.5

 
0.3

 
0.3

 
0.2

 
0.2

Expected return on assets

 
(1.1
)
 
(0.3
)
 
(0.3
)
 

 

Net amortization of prior service credit

 

 

 

 
0.0

 

Benefit cost of settlement event

 
39.6

 

 

 

 

Amortization of (gains) losses

 
0.3

 
0.2

 
0.3

 

 
0.0

Net periodic (benefit) cost
$

 
$
39.3

 
$
0.2

 
$
0.3

 
$
0.2

 
$
0.2



 
U.S. Pension Plan
 
UK Pension Plan
 
Postretirement Benefits
 
Nine months ended February 28,
 
Nine months ended February 28,
 
Nine months ended February 28,
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Components of net periodic (benefit) cost:
 
 
 
 
 
 
 
 
 
 
 
Service cost
$

 
$

 
$

 
$

 
$
0.0

 
$
0.0

Interest cost

 
1.9

 
0.8

 
0.8

 
0.6

 
0.7

Expected return on assets

 
(4.0
)
 
(0.8
)
 
(0.8
)
 

 

Net amortization of prior service credit

 

 

 

 
(0.1
)
 

Benefit cost of settlement event

 
55.0

 

 

 

 

Amortization of (gains) losses


 
0.9

 
0.6

 
0.9

 

 
0.0

Net periodic (benefit) cost
$

 
$
53.8

 
$
0.6

 
$
0.9

 
$
0.5

 
$
0.7