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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Aug. 31, 2020
Aug. 31, 2019
Cash flows - operating activities:    
Net income (loss) $ (39.8) $ (58.5)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:    
Provision for losses on accounts receivable 1.4 1.6
Provision for losses on inventory 2.9 4.1
Provision for losses on royalty advances 1.3 1.1
Amortization of prepublication costs 6.3 6.4
Depreciation and amortization 16.4 16.1
Amortization of pension and postretirement actuarial gains and losses 0.1 0.2
Deferred income taxes 0.1 0.1
Stock-based compensation 0.6 1.5
Income from equity-method investments (0.8) (1.0)
(Gain) loss on sale of assets (6.6) 0.0
Changes in assets and liabilities, net of amounts acquired:    
Accounts receivable 23.3 21.5
Inventories (50.0) (85.3)
Prepaid expenses and other current assets (12.0) (28.1)
Income tax receivable (13.0) (29.1)
Royalty advances (2.8) (3.8)
Accounts payable 13.9 32.2
Accrued income taxes 0.3 (0.8)
Accrued royalties 17.5 21.7
Deferred revenue 10.1 11.8
Other assets and liabilities 4.8 (9.3)
Net cash provided by (used in) operating activities (26.0) (97.6)
Cash flows - investing activities:    
Prepublication expenditures (5.2) (7.4)
Additions to property, plant and equipment (16.0) (13.5)
Net proceeds from sale of assets 12.3 0.0
Acquisition of land 0.0 (3.3)
Other investment and acquisition-related payments 0.0 (0.1)
Net cash provided by (used in) investing activities (8.9) (24.3)
Cash flows - financing activities:    
Borrowings under lines of credit, credit agreement and revolving loan 2.2 8.1
Repayments of lines of credit, credit agreement and revolving loan (3.8) (1.9)
Repayment of capital lease obligations (0.5) (0.4)
Reacquisition of common stock 0.0 (12.6)
Payment of dividends (5.1) (5.3)
Other 1.9 (0.2)
Net cash provided by (used in) financing activities (5.3) (12.3)
Effect of exchange rate changes on cash and cash equivalents 1.9 (0.5)
Net increase (decrease) in cash and cash equivalents (38.3) (134.7)
Cash and cash equivalents at beginning of period 393.8 334.1
Cash and cash equivalents at end of period $ 355.5 $ 199.4