Investments

12 Months Ended

May 31, 2022

Equity [Abstract]

Investments

INVESTMENTS

Investments are included in Other assets and deferred charges on the Consolidated Balance Sheets. The following table summarizes the Company’s investments for the fiscal years ended May 31:

	2022		2021		Segment
Equity method investments	$	31.0	$	34.3	International
Other equity investments		6.0		6.0	Children's Book Publishing & Distribution
Total investments	$	37.0	$	40.3

The Company’s 26.2% equity interest in a children’s book publishing business located in the UK is accounted for using the equity method of accounting. Equity method income from this investment is reported in the International segment.

The Company has a 4.6% ownership interest in a financing and production company that makes film, television, and digital programming designed for the youth market. This equity investment does not have a readily determinable fair value and the Company has elected to apply the measurement alternative, and report this investment at cost, less impairment, on the Company's Consolidated Balance Sheets. There have been no impairments or adjustments to the carrying value of this investment.

The Company has other equity investments with a net carrying value of less than $0.1 at May 31, 2022 and May 31, 2021.

Income from equity investments reported in Selling, general and administrative expenses in the Consolidated Statements of Operations totaled $2.0 for the year ended May 31, 2022, $7.4 for the year ended May 31, 2021 and $3.2 for the year ended May 31, 2020. The Company received dividends of $1.4 and $2.4 for the years ended May 31, 2022 and May 31, 2021, respectively.