Investments

3 Months Ended

Nov. 30, 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 $22.9, $20.6 and $22.5 at November 30, 2012, May 31, 2012 and November 30, 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 $1.5 for the six months ended November 30, 2012 and $1.7 for the six months ended November 30, 2011. The current year results include a $1.3 settlement received in the current fiscal period in respect of a former equity-method investment for product delivered to the investee in prior years.

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

	November 30, 2012		May 31, 2012		November 30, 2011
Cost method investments:
UK - based	$	5.6	$	5.2	$	5.5
Total cost method investments	$	5.6	$	5.2	$	5.5
Equity method investments:
UK - based	$	17.3	$	15.4	$	15.7
U.S. - based		—		—		1.3
Total equity method investments	$	17.3	$	15.4	$	17.0
Total	$	22.9	$	20.6	$	22.5