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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
6 Months Ended
Nov. 30, 2023
Nov. 30, 2022
Cash flows - operating activities:    
Net income (loss) attributable to Scholastic Corporation $ 2.7 $ 29.8
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:    
Provision for losses on accounts receivable 3.1 1.3
Provision for losses on inventory 11.8 9.6
Provision for losses on royalty advances 1.5 1.8
Amortization of prepublication costs 13.3 12.4
Depreciation and amortization 32.1 32.2
Amortization of pension and postretirement plans 0.2 (0.2)
Deferred income taxes 0.3 (0.4)
Stock-based compensation 6.4 5.9
Income from equity-method investments 0.3 1.3
Changes in assets and liabilities, net of amounts acquired:    
Accounts receivable (36.3) (50.4)
Inventories 21.2 (112.0)
Prepaid expenses and other current assets (18.3) (8.9)
Income tax receivable (2.7) 9.3
Royalty advances 0.0 (10.8)
Accounts payable (11.3) 51.0
Accrued income taxes (10.8) (0.4)
Accrued royalties 4.6 8.9
Deferred revenue 55.8 60.6
Other accrued expenses (9.3) (13.3)
Other, net 7.6 (3.8)
Net cash provided by (used in) operating activities 71.6 21.3
Cash flows - investing activities:    
Prepublication expenditures (11.7) (11.0)
Additions to property, plant and equipment (29.1) (24.1)
Other investment and acquisition-related payments (8.3) (10.7)
Net cash provided by (used in) investing activities (49.1) (45.8)
Cash flows - financing activities:    
Borrowings under lines of credit, credit agreement and revolving loan 27.1 2.0
Repayments of lines of credit, credit agreement and revolving loan (26.8) (3.5)
Repayment of capital lease obligations (1.2) (1.1)
Reacquisition of common stock (90.2) (29.7)
Proceeds pursuant to stock-based compensation plans 6.1 15.3
Payment of dividends (12.8) (12.0)
Net cash provided by (used in) financing activities (97.8) (29.0)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 0.3 (2.0)
Net increase (decrease) in cash and cash equivalents (75.0) (55.5)
Cash and cash equivalents at beginning of period 224.5 316.6
Cash and cash equivalents at end of period $ 149.5 $ 261.1