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Consolidated Statements of Cash Flows (USD $)
In Millions
12 Months Ended
May 31, 2011
May 31, 2010
May 31, 2009
Cash flows provided by operating activities:      
Net income (loss) $ 39.4 $ 56.1 $ (14.3)
Loss from discontinued operations, net of tax (4.2) (2.6) (21.3)
Earnings from continuing operations 43.6 58.7 7.0
Adjustments to reconcile earnings from continuing operations to net cash provided by operating activities of continuing operations:      
Provision for losses on accounts receivable 13.6 9.5 15.8
Provision for losses on inventory 27.3 27.2 28.4
Provision for losses on royalty advances 4.5 6.8 12.6
Amortization of prepublication and production costs 51.1 51.0 44.8
Depreciation and amortization 60.1 59.5 61.2
Deferred income taxes (3.0) 29.4 35.3
Stock-based compensation 13.7 14.0 11.6
Non cash write off related to asset impairment 3.4 43.1 26.3
Unrealized loss on investments 3.6 1.5 13.5
Changes in assets and liabilities:      
Accounts receivable (12.6) (22.4) (17.7)
Inventories (10.0) 3.4 (25.8)
Prepaid expenses and other current assets 1.6 2.4 7.3
Deferred promotion costs 0.1 0.8 0.3
Royalty advances (1.2) (3.7) (6.6)
Accounts payable 18.9 (27.0) 25.6
Other accrued expenses 14.5 18.8 (28.3)
Accrued royalties (8.3) 0.4 (2.5)
Deferred revenue 8.7 5.6 (0.5)
Pension and post-retirement liabilities (11.3) (3.6) (4.4)
Other noncurrent liabilities 5.2 (5.0) 5.0
Other, net 5.8 3.2 (3.3)
Total adjustments 185.7 214.9 198.6
Net cash provided by operating activities of continuing operations 229.3 273.6 205.6
Net cash (used in) provided by operating activities of discontinued operations (0.9) 2.2 (17.0)
Net cash provided by operating activities 228.4 275.8 188.6
Cash flows used in investing activities:      
Prepublication and production expenditures (57.9) (48.9) (57.8)
Additions to property, plant and equipment (50.0) (55.3) (45.1)
Acquisition related payments (10.1) (1.0) (4.4)
Land acquisition (24.3)    
Net cash proceeds from sale of discontinued operations   0.2 33.0
Other 1.2   1.7
Net cash used in investing activities of continuing operations (141.1) (105.0) (72.6)
Net cash used in investing activities of discontinued operations     (0.8)
Net cash used in investing activities (141.1) (105.0) (73.4)
Cash flows used in financing activities:      
Borrowings under credit agreement and revolving loan 70.0   220.3
Repayment of credit agreement and revolving loan (70.0)   (220.3)
Repayment of term loan (42.8) (42.8) (42.8)
Repurchase of 5.00% notes   (4.1) (2.1)
Borrowings under lines of credit 118.6 157.0 465.0
Repayments under lines of credit (128.2) (159.0) (461.4)
Repayment of capital lease obligations (2.0) (3.4) (4.9)
Reacquisition of common stock (166.9) (10.8) (34.0)
Proceeds pursuant to stock-based compensation plans 2.9 3.2 2.3
Payment of dividends (10.8) (10.9) (8.4)
Other (1.3) (0.1)  
Net cash used in financing activities of continuing operations (230.5) (70.9) (86.3)
Net cash used in financing activities (230.5) (70.9) (86.3)
Effect of exchange rate changes on cash and cash equivalents 4.4 0.6 (5.7)
Net (decrease) increase in cash and cash equivalents (138.8) 100.5 23.2
Cash and cash equivalents at beginning of period, including cash of discontinued operations of $0.0, $0.0 and $4.3 at June 1, 2010, 2009 and 2008, respectively 244.1 143.6 120.4
Cash and cash equivalents at end of period, including cash of discontinued operations of $0.0, $0.0 and $0.0 at May 31, 2011, 2010 and 2009, respectively 105.3 244.1 143.6
Supplemental Information:      
Income taxes payments (refunds), net 31.5 22.3 (5.3)
Interest paid $ 15.4 $ 16.5 $ 23.1