Segment Information

9 Months Ended

Feb. 28, 2025

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company categorizes its businesses into four reportable segments: Children’s Book Publishing and Distribution, Education Solutions, Entertainment 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 primarily in the United States through its School Reading Events business, which includes the book clubs and book fairs channels, and through the trade channel. This segment is comprised of two 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 related support services and print and online reference and non-fiction products for grades pre-kindergarten to 12 in the United States. This segment is comprised of one operating segment.

•Entertainment includes the development, production, distribution and licensing of children and family film and television content. 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 businesses. This segment is comprised of three operating segments.

The following table sets forth the Company's revenue and operating income (loss) by segment for the periods indicated:

	Three months ended				Nine months ended
	February 28,		February 29,		February 28,		February 29,
	2025		2024		2025		2024
Revenues
Children's Book Publishing and Distribution (1)	$	203.3	$	193.1	$	675.7	$	687.9
Education Solutions		57.2		68.5		184.1		215.5
Entertainment (1)		12.8		0.5		46.2		1.3
International		59.3		59.1		202.8		202.8
Overhead (2)		2.8		2.5		8.4		7.3
Total	$	335.4	$	323.7	$	1,117.2	$	1,114.8
Operating income (loss)
Children's Book Publishing and Distribution (1)	$	7.6	$	2.3	$	73.1	$	72.9
Education Solutions		(6.9)		(0.8)		(24.4)		(13.7)
Entertainment (1)		(3.9)		(3.1)		(9.1)		(4.4)
International		(2.1)		(5.9)		(4.7)		(6.1)
Overhead (2)		(18.6)		(27.4)		(72.6)		(81.4)
Total	$	(23.9)	$	(34.9)	$	(37.7)	$	(32.7)

(1) The newly formed Entertainment segment includes the operations of SEI, which were included in the Children’s Book Publishing and Distribution segment in prior periods, and 9 Story. The financial results for SEI for the three and nine months ended February 29, 2024 have been reclassified to Entertainment to reflect this change.

(2) Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets and rental income related to leased space in the Company's headquarters.