Revenues

9 Months Ended

Feb. 29, 2020

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		Nine months ended
	February 29,	February 28,	February 29,	February 28,
	2020	2019	2020	2019
U.S. Book Clubs	$43.4	$55.0	$137.3	$165.4
U.S. Book Fairs	100.1	97.4	351.7	343.3
U.S. Trade	70.4	65.6	231.6	222.9
U.S. Education	74.3	60.3	192.5	179.7
Non-U.S. Major Markets⁽¹⁾	59.2	54.0	210.1	192.2
Non-U.S. Other Markets⁽²⁾	25.9	27.8	79.9	79.7
Total Revenues	$373.3	$360.1	$1,203.1	$1,183.2

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

(2) - Primarily includes markets in Asia.

Estimated Returns

A liability for expected returns of $40.6, $34.5, and $97.3 is recorded within Other accrued expenses as of February 29, 2020, May 31, 2019, and February 28, 2019, respectively. In addition, a return asset of $2.5, $1.6, and $13.2 is recorded within Prepaid expenses and other current assets as of February 29, 2020, May 31, 2019, and February 28, 2019, 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 $33.0 and $28.3 for the three months ended February 29, 2020 and February 28, 2019, respectively, and $107.0 and $91.0 for the nine months ended February 29, 2020 and February 28, 2019, respectively.