Investments

3 Months Ended

Aug. 31, 2012

Equity Method And Cost Method Investments [Text Block]

8. Investments

Included in “Other assets and deferred charges” on the Company’s condensed consolidated balance sheets were investments of $21.2, $20.6 and $21.2 at August 31, 2012, May 31, 2012 and August 31, 2011, respectively.

The Company owns a non-controlling interest in a book distribution business located in the UK, which is accounted for as a cost-basis investment.

The Company’s 26.2% non-controlling interest in a children’s book publishing business located in the UK is accounted for using the equity method of accounting.

Income from equity investments totaled $0.5 for the three months ended August 31, 2012 and $0.4 for the three months ended August 31, 2011.

The following table summarizes the Company’s investments as of the dates indicated:

	August 31, 2012		May 31, 2012		August 31, 2011
Cost method investments:
UK - based	$	5.5	$	5.2	$	5.7
Total cost method investments	$	5.5	$	5.2	$	5.7
Equity method investments:
UK - based	$	15.7	$	15.4	$	14.2
U.S. - based		—		—		1.3
Total equity method investments	$	15.7	$	15.4	$	15.5
Total	$	21.2	$	20.6	$	21.2