Segment Information

12 Months Ended

May 31, 2022

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company categorizes its businesses into three reportable segments: Children’s Book Publishing and Distribution and Education Solutions, which comprise the Company's domestic operations, and International.

•Children’s Book Publishing and Distribution operates as an integrated business which includes the publication and distribution of children’s books, ebooks, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel. This segment is comprised of three operating segments.

•Education Solutions includes the publication and distribution to schools and libraries of children’s books, classroom magazines, print and digital supplemental and core classroom materials and programs and related support services, and print and on-line reference and non-fiction products for grades pre-kindergarten to 12 in the United States. This segment is comprised of one operating segment.

•International includes the publication and distribution of products and services outside the United States by the Company’s international operations and its export and foreign rights businesses. This segment is comprised of three operating segments.

The following tables set forth information for the Company’s segments for the three fiscal years ended May 31:

	2022		2021		2020
Revenues
Children's Book Publishing and Distribution	$	946.5	$	675.0	$	881.7
Education Solutions		393.6		312.3		287.3
International		302.8		313.0		318.1
Total	$	1,642.9	$	1,300.3	$	1,487.1
Operating income (loss)
Children's Book Publishing and Distribution	$	115.3	$	8.9	$	17.1
Education Solutions		81.8		57.7		24.7
International		3.3		21.2		(8.0)
Overhead (1)		(103.0)		(110.5)		(122.3)
Total	$	97.4	$	(22.7)	$	(88.5)
Depreciation and amortization (2)
Children's Book Publishing and Distribution	$	24.9	$	25.6	$	26.5
Education Solutions		15.1		12.7		13.0
International		6.2		6.6		7.3
Overhead (1)		45.1		45.4		43.4
Total	$	91.3	$	90.3	$	90.2
Segment assets at May 31
Children's Book Publishing and Distribution	$	559.4	$	518.0	$	528.0
Education Solutions		289.4		239.8		223.4
International		258.3		302.1		270.3
Overhead (1)		833.7		948.4		1,011.9
Total	$	1,940.8	$	2,008.3	$	2,033.6
(1) Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets.
(2) Includes depreciation of property, plant and equipment, amortization of intangible assets and prepublication, deferred financing and cloud computing costs.