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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Aug. 31, 2022
Aug. 31, 2021
Cash flows - operating activities:    
Net income (loss) $ (45.5) $ (24.2)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:    
Provision for losses on accounts receivable (1.5) 1.6
Provision for losses on inventory 4.2 4.5
Provision for losses on royalty advances 0.9 0.9
Amortization of prepublication costs 6.3 6.8
Depreciation and amortization 16.2 16.4
Amortization of pension and postretirement plans (0.1) (0.0)
Deferred income taxes 0.1 0.0
Stock-based compensation 1.7 1.5
Income from equity-method investments 0.1 1.1
Changes in assets and liabilities, net of amounts acquired:    
Accounts receivable 54.6 8.1
Inventories (105.9) (35.6)
Prepaid expenses and other current assets (20.8) (25.1)
Income tax receivable (13.7) 53.4
Royalty advances (9.7) (5.2)
Accounts payable 48.9 48.9
Accrued income taxes (0.9) 0.3
Accrued royalties 24.5 20.8
Deferred revenue 10.4 26.9
Other accrued expenses (28.7) (32.5)
Other, net (1.2) (2.8)
Net cash provided by (used in) operating activities (60.3) 63.6
Cash flows - investing activities:    
Prepublication expenditures (4.8) (4.3)
Additions to property, plant and equipment (11.4) (10.2)
Net cash provided by (used in) investing activities (16.2) (14.5)
Cash flows - financing activities:    
Borrowings under lines of credit, credit agreement and revolving loan (1.2) (0.9)
Repayments of lines of credit, credit agreement and revolving loan 1.3 101.3
Repayment of capital lease obligations (0.6) (0.6)
Reacquisition of common stock (4.7) 0.0
Proceeds pursuant to stock-based compensation plans 12.1 0.5
Payment of dividends (5.1) (5.2)
Other 0.0 0.1
Net cash provided by (used in) financing activities 1.6 (105.6)
Net increase (decrease) in cash and cash equivalents (76.9) (57.9)
Cash and cash equivalents at beginning of period 316.6 366.5
Cash and cash equivalents at end of period 239.7 308.6
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents $ (2.0) $ (1.4)