Revenues

6 Months Ended

Nov. 30, 2019

Revenue from Contract with Customer [Abstract]

REVENUES

Disaggregated Revenue Data

The following table presents the Company’s disaggregated revenues by region and domestic channel:



	Three months ended		Six months ended
	November 30,		November 30,
	2019	2018	2019	2018
U.S. Book Clubs	$85.9	$101.3	$93.9	$110.4
U.S. Book Fairs	224.1	220.7	251.6	245.9
U.S. Trade	93.5	95.9	161.2	157.3
U.S. Education	69.8	71.4	118.2	119.3
Non-U.S. Major Markets⁽¹⁾	94.6	88.0	150.9	138.3
Non-U.S. Other Markets⁽²⁾	29.3	27.4	54.0	51.9
Total Revenues	$597.2	$604.7	$829.8	$823.1

(1) - Includes Canada, UK, Australia and New Zealand.

(2) - Primarily includes markets in Asia.

Estimated Returns

A liability for expected returns of $42.4, $34.5, and $78.7 is recorded within Other accrued expenses as of November 30, 2019, May 31, 2019, and November 30, 2018, respectively. In addition, a return asset of $2.6, $1.6, and $9.4 is recorded within Prepaid expenses and other current assets as of November 30, 2019, May 31, 2019, and November 30, 2018, respectively, for the recoverable cost of product estimated to be returned by customers.

Deferred Revenue

The Company's contract liabilities consist of advance billings and payments received from customers in excess of revenue recognized and revenue allocated to outstanding book fairs incentive credits. These liabilities are

recorded within Deferred revenue on the Company's Condensed Consolidated Balance Sheets and are classified as short term, as substantially all of the associated performance obligations are expected to be satisfied, and related revenue recognized, within one year. The Company recognized revenue which was included in the opening deferred revenue balance in the amount of $46.9 and $30.8 for the three months ended November 30, 2019 and 2018, respectively, and $74.0 and $62.7 for the six months ended November 30, 2019 and 2018, respectively.