Investments

12 Months Ended

May 31, 2013

Equity Method And Cost Method Investments [Text Block]

Equity Method And Cost Method Investments [Text Block]

7. INVESTMENTS

Included in the Other assets and deferred charges section of the Company’s Consolidated Balance Sheets were investments of $19.6 and $20.6 at May 31, 2013 and May 31, 2012, respectively.

The Company owns a 15.0% non-controlling interest in a book distribution business located in the UK, which is accounted for as a cost-basis investment. The carrying value of these assets was $5.0 as of May 31, 2013.

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. The net value of this investment at May 31, 2013 was $14.6. The Company received $0.8 of dividends in fiscal 2013 from this investment.

Income from equity investments totaled $2.3 for the year ended May 31, 2013, $2.6 for the year ended May 31, 2012 and $1.8 for the year ended May 31, 2011.

The following table summarizes the Company’s investments as of May 31:

	2013		2012
Cost method investments:
UK-based	$	5.0	$	5.2
Total cost method investments	$	5.0	$	5.2
Equity method investments:
UK-based	$	14.6	$	15.4
Total equity method investments	$	14.6	$	15.4
Total	$	19.6	$	20.6