Goodwill and Other Intangibles

12 Months Ended

May 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

GOODWILL AND OTHER INTANGIBLES

The following table summarizes the activity in Goodwill for the fiscal years ended May 31: 

	2020			2019
Gross beginning balance	$	164.8		$	158.8
Accumulated impairment		(39.6	)		(39.6	)
Beginning balance	$	125.2		$	119.2
Additions		—			6.3
Foreign currency translation		(0.3	)		(0.3	)
Other		—			—
Ending balance	$	124.9		$	125.2

There were no impairment charges related to Goodwill in any of the periods presented. As of May 31, 2020, $66.7 of Goodwill is attributable to a reporting unit whose fair value reasonably exceeds carrying value. This reporting unit is associated with the Education segment. If there is a continued adverse impact on the school-based market related to the COVID-19 pandemic, the Company will need to reassess the Goodwill related to this reporting unit for impairment, as well as other related assets including prepublication costs.

In fiscal 2019, the Company completed the purchase of a majority-ownership position in MBI, a UK-based children's book publishing business, resulting in the recognition of $6.3 of Goodwill. See Note 11, "Acquisitions," for more information.

The following table summarizes Other intangibles for the fiscal years ended May 31: 

	2020			2019
Other intangibles subject to amortization - beginning balance	$	12.2		$	10.1
Additions		1.6			4.5
Other		—			0.6
Amortization expense		(3.2	)		(2.8	)
Foreign currency translation		(0.1	)		(0.2	)
Total other intangibles subject to amortization, net of accumulated amortization of $30.1 and $26.9, respectively	$	10.5		$	12.2
Total other intangibles not subject to amortization		2.1			2.1
Total other intangibles	$	12.6		$	14.3

In fiscal 2020, the Company purchased a U.S.-based book fair business resulting in $1.6 of amortizable intangible assets. In fiscal 2019, the Company completed the purchase of a majority interest in a UK-based children's book publishing business, which resulted in $3.9 of amortizable intangible assets. In fiscal 2019, the Company also purchased a U.S.-based book fair business resulting in $0.3 of amortizable intangible assets and a UK-based book clubs business resulting in $0.3 of amortizable intangible assets.

Amortization expense for Other intangibles totaled $3.2, $2.8 and $2.1 for the fiscal years ended May 31, 2020, 2019 and 2018, respectively.

The following table reflects the estimated amortization expense for intangibles for future fiscal years ending May 31: 

2021	$	2.2
2022		2.1
2023		1.9
2024		1.6
2025		1.3
Thereafter		1.4

Intangible assets with indefinite lives consist principally of trademark and tradename rights. Intangible assets with definite lives consist principally of customer lists, intellectual property, tradenames and other agreements. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is approximately 5.7 years.