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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Feb. 28, 2021
Feb. 29, 2020
Cash flows - operating activities:    
Net income (loss) $ (18.6) $ (30.8)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:    
Provision for losses on accounts receivable 3.4 7.3
Provision for losses on inventory 10.4 13.7
Provision for losses on royalty advances 4.4 3.8
Amortization of prepublication costs 19.0 19.7
Depreciation and amortization 49.3 48.1
Amortization of pension and postretirement actuarial gains and losses 0.0 0.7
Deferred income taxes 0.1 (0.2)
Stock-based compensation 5.1 3.1
Income from equity-method investments (6.1) (3.6)
(Gain) loss on sale of assets (10.4) 0.0
Changes in assets and liabilities, net of amounts acquired:    
Accounts receivable 5.0 (38.9)
Inventories (36.4) (36.2)
Prepaid expenses and other current assets (17.3) (16.0)
Income tax receivable (11.1) (19.9)
Royalty advances (8.4) (9.1)
Accounts payable (21.0) (0.1)
Accrued income taxes 1.9 2.3
Accrued royalties 38.3 35.6
Deferred revenue 3.6 27.5
Other assets and liabilities 14.4 (3.0)
Net cash provided by (used in) operating activities 36.5 44.0
Cash flows - investing activities:    
Prepublication expenditures (15.3) (21.5)
Additions to property, plant and equipment (37.1) (48.4)
Net proceeds from sale of assets 17.4 0.0
Acquisition of land 0.0 (3.3)
Other investment and acquisition-related payments 0.1 (1.2)
Net cash provided by (used in) investing activities (34.9) (74.4)
Cash flows - financing activities:    
Borrowings under lines of credit, credit agreement and revolving loan 3.0 28.9
Repayments of lines of credit, credit agreement and revolving loan (32.1) (19.7)
Repayment of capital lease obligations (1.7) (1.5)
Reacquisition of common stock 0.0 (32.2)
Proceeds pursuant to stock-based compensation plans 0.0 0.7
Payment of dividends (15.4) (15.7)
Other 0.0 (0.2)
Net cash provided by (used in) financing activities (46.2) (39.7)
Effect of exchange rate changes on cash and cash equivalents 4.0 (0.2)
Net increase (decrease) in cash and cash equivalents (40.6) (70.3)
Cash and cash equivalents at beginning of period 393.8 334.1
Cash and cash equivalents at end of period $ 353.2 $ 263.8