Acquisitions

9 Months Ended

Feb. 29, 2012

Business Combination Disclosure [Text Block]

2. Acquisitions

On January 3, 2012, the Company acquired Learners Publishing, a Singapore-based publisher of supplemental learning materials for English-Language Learners, for $2.8, net of cash acquired. As a result of this transaction, the Company recorded $1.3 of goodwill. The Company has not completed its purchase accounting for this transaction. The results of operations of this business subsequent to the acquisition date are included in the International segment.

On February 8, 2012, the Company acquired the business and certain assets of Weekly Reader, a publisher of weekly educational classroom magazines designed for children in grades Pre-K–12, for $2.0 in cash and $4.5 in assumed liabilities. As a result of this transaction, the Company recorded $6.5 of goodwill. The Company has not completed its purchase accounting for this transaction and expects to recognize intangible assets, such as customer lists and trade names, acquired in the transaction. The results of operations of this business subsequent to the acquisition date are included in the Classroom and Supplemental Materials Publishing segment, and certain assets will benefit the Children’s Book Publishing and Distribution segment.