View Filing Data

Cost of goods sold (exclusive of depreciation and amortization)

$ 293.6

$ 318.0

Operating costs and expenses:

151.1

160.4

Selling, general and administrative expenses (exclusive of depreciation and amortization)

173.9

175.7

Total operating costs and expenses

^[1]

16.1

15.1

341.1

351.2

Operating income (loss)

(47.5)

(33.2)

Interest expense, net

(3.7)

(3.9)

Earnings (loss) from continuing operations before income taxes

(51.2)

(37.1)

Provision (benefit) for income taxes

(19.2)

(12.0)

Earnings (loss) from discontinued operations, net of tax

(32.0)

(25.1)

(0.1)

(2.0)

Earnings (loss) from continuing operations (in Dollars per share)

$ (32.1)

$ (27.1)

Basic:

$ (1.02)

$ (0.81)

Earnings (loss) from discontinued operations, net of tax (in Dollars per share)

0.00

(0.06)

Net income (loss) (in Dollars per share)

(1.02)

(0.87)

Diluted:

Earnings (loss) from continuing operations (in Dollars per share)

(1.02)

(0.81)

Earnings (loss) from discontinued operations, net of tax (in Dollars per share)

0.00

(0.06)

Net income (loss) (in Dollars per share)

(1.02)

(0.87)

Dividends declared per Class A and Common share (in Dollars per share)

$ 0.125

$ 0.100

[1]	Includes depreciation of property, plant and equipment and amortization of intangible assets.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2012	Aug. 31, 2011
Net income (loss)	$ (32.1)	$ (27.1)
Other comprehensive income (loss), net:
Foreign currency translation adjustments	5.1	0.5
Pension and post-retirement adjustments:
Amortization of prior service cost (credit)	(0.1)	(0.1)
Amortization of unrecognized gain (loss) included in net periodic cost	1.2	1.4
Total other comprehensive income (loss)	6.2	1.8
Comprehensive income (loss)	$ (25.9)	$ (25.3)

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6518256

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-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

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-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6519514

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-URI http://asc.fasb.org/extlink&oid=20435746&loc=d3e565-108580

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-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Reference 11: http://www.xbrl.org/2003/role/presentationRef
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Number 87-21
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-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Net of tax amount of the income statement impact of the reclassification adjustment for prior service costs recognized as a component of net period benefit cost.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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Net of tax amount of other comprehensive income (loss) attributable to the parent entity.

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-Publisher AICPA
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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Common Class A [Member]
Stockholders’ Equity:
Common Stock, value	$ 0.0	$ 0.0	$ 0.0
Cash and cash equivalents	193.1	194.9	33.7
Accounts receivable, net	211.6	314.1	217.1
Inventories, net	396.4	295.3	422.8
Deferred income taxes	71.5	71.4	56.2
Prepaid expenses and other current assets	97.7	47.2	100.3
Current assets of discontinued operations	7.0	7.0	9.6
Total current assets	977.3	929.9	839.7
Property, plant and equipment, net	327.3	327.2	331.3
Prepublication costs	129.2	125.8	116.9
Royalty advances, net	35.4	34.8	34.6
Production costs	2.1	1.6	7.5
Goodwill	157.7	157.7	154.2
Other intangibles	16.4	16.7	19.4
Noncurrent deferred income taxes	42.6	42.3	20.2
Other assets and deferred charges	34.8	34.3	35.3
Total assets	1,722.8	1,670.3	1,559.1
Lines of credit, short-term debt and current portion of long-term debt	0.6	6.5	47.4
Capital lease obligations	0.8	1.0	0.5
Accounts payable	211.3	119.6	181.2
Accrued royalties	109.1	92.7	52.7
Deferred revenue	72.4	47.1	75.9
Other accrued expenses	188.1	233.5	169.7
Current liabilities of discontinued operations	2.0	2.1	1.2
Total current liabilities	584.3	502.5	528.6
Long-term debt	152.8	152.8	152.6
Capital lease obligations	56.7	56.4	55.3
Other noncurrent liabilities	123.3	128.3	107.5
Total noncurrent liabilities	332.8	337.5	315.4
Commitments and Contingencies:
Preferred Stock, $1.00 par value
Common Stock, value	0.4	0.4	0.4
Additional paid-in capital	584.7	583.0	578.2
Accumulated other comprehensive income (loss)	(68.0)	(74.2)	(52.1)
Retained earnings	687.8	723.9	605.6
Treasury stock at cost	(399.2)	(402.8)	(417.0)
Total stockholders’ equity	805.7	830.3	715.1
Total liabilities and stockholders’ equity	$ 1,722.8	$ 1,670.3	$ 1,559.1

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Common Class A [Member]
Common Stock, par value per share	$ 0.01	$ 0.01	$ 0.01
Preferred stock par value	1.00	1.00	1.00
Common Stock, par value per share	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

3 Months Ended

Aug. 31, 2012

Aug. 31, 2011

Cash flows - operating activities:

Earnings (loss) from discontinued operations, net of tax

$ (32.1)

$ (27.1)

(0.1)

(2.0)

Adjustments to reconcile earnings from continuing operations to net cash provided by (used in) operating activities of continuing operations:

(32.0)

(25.1)

Provision for losses on accounts receivable

0.5

1.4

Provision for losses on inventory

5.4

5.9

Provision for losses on royalty advances

1.3

1.2

Amortization of prepublication and production costs

^[1]

11.8

11.9

Non cash net gain on equity investments

^[2]

16.1

15.1

Stock-based compensation

2.0

2.2

(0.5)

(0.4)

Changes in assets and liabilities:

Accounts receivable

106.3

2.0

Inventories

(102.9)

(121.3)

Other current assets

(44.6)

(24.3)

Deferred promotion costs

(5.7)

(4.3)

Royalty advances

(1.7)

(0.3)

Accounts payable

90.1

60.7

Other accrued expenses

(46.9)

(18.3)

Accrued royalties

15.8

17.3

Deferred revenue

25.1

26.8

Pension and post-retirement liability

(3.2)

(0.7)

Other noncurrent liability

(0.9)

(0.4)

Other, net

(1.6)

1.0

Total adjustments

66.4

(24.5)

Net cash provided by (used in) operating activities of continuing operations

34.4

(49.6)

Net cash provided by (used in) operating activities of discontinued operations

(0.2)

0.3

Net cash provided by (used in) operating activities

34.2

(49.3)

Cash flows - investing activities:

Prepublication and production expenditures

(15.7)

(11.5)

Additions to property, plant and equipment

(14.5)

(7.2)

Other

(0.1)

Net cash provided by (used in) investing activities of continuing operations

(30.3)

(18.7)

Net cash provided by (used in) investing activities

(30.3)

(18.7)

Cash flows - financing activities:

Repayment of term loan

(10.7)

Borrowings under lines of credit

5.0

18.5

Repayment of lines of credit

(10.8)

(9.6)

Repayment of capital lease obligations

(0.3)

(0.1)

Proceeds pursuant to stock-based compensation plans

2.8

1.3

Payment of dividends

(4.0)

(3.1)

Other

0.6

(0.3)

Net cash provided by (used in) financing activities of continuing operations

(6.7)

(4.0)

Net cash provided by (used in) financing activities

(6.7)

(4.0)

Effect of exchange rate changes on cash and cash equivalents

1.0

0.4

Net increase (decrease) in cash and cash equivalents

(1.8)

(71.6)

Cash and cash equivalents at beginning of period

194.9

105.3

Cash and cash equivalents at end of period

$ 193.1

$ 33.7

[1]	Includes amortization of prepublication and production costs.
[2]	Includes depreciation of property, plant and equipment and amortization of intangible assets.

Basis of Presentation

3 Months Ended

Aug. 31, 2012

Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]

1. Basis of Presentation

Principles of consolidation

The accompanying condensed consolidated financial statements include the accounts of Scholastic Corporation (the “Corporation”) and all wholly-owned and majority-owned subsidiaries (collectively, “Scholastic” or the “Company”). Intercompany transactions are eliminated in consolidation. These financial statements have not been audited but reflect those adjustments consisting of normal recurring items that management considers necessary for a fair presentation of financial position, results of operations and cash flows. These financial statements should be read in conjunction with the consolidated financial statements and related notes in the Annual Report on Form 10-K for the fiscal year ended May 31, 2012 (the “Annual Report”).

The Company’s fiscal year is not a calendar year. Accordingly, references in this document to fiscal 2012 relate to the twelve-month period ended May 31, 2012.

Segment

The Company determined that a software business previously reported in the Media, Licensing and Advertising segment should be reported in the Children’s Book Publishing and Distribution segment consistent with changes in the Company’s internal reporting structure. All prior periods reflect this change.

Other Comprehensive Income (Loss)

The Company reported net amortization expense of prior service and gains and losses for pension and post-retirement benefit plans in Selling, general and administrative expenses of $1.1 and $1.3 for the three months ended August 31, 2012 and 2011, respectively. These amounts had previously been recognized as a component of accumulated other comprehensive income.

Discontinued Operations

The Company closed or sold several operations during fiscal 2009, fiscal 2010 and fiscal 2012, and presently holds for sale one facility. All of these businesses are classified as discontinued operations in the Company’s financial statements. See Note 2, “Discontinued Operations,” for additional information.

Seasonality

The Company’s school-based book clubs, school-based book fairs and most of its magazines operate on a school-year basis; therefore, the Company’s business is highly seasonal. As a result, the Company’s revenues in the first and third quarters of the fiscal year generally are lower than its revenues in the other two fiscal quarters. Typically, school-based book club and book fair revenues are greatest in the second and fourth quarters of the fiscal year, while revenues from the sale of instructional materials and educational technology products and services are highest in the first and fourth quarters. The Company generally experiences a loss from operations in the first and third quarters of each fiscal year.

Use of estimates

The Company’s condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and with the instructions to Form 10-Q and Regulation S-X. The preparation of these financial statements involves the use of estimates and assumptions by management, which affects the amounts reported in the condensed consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience, current business factors, and various other assumptions believed to be reasonable under the circumstances, all of which are necessary in order to form a basis for determining the carrying values of assets and liabilities. Actual results may differ from those estimates and assumptions. On an on-going basis, the Company evaluates the adequacy of its reserves and the estimates used in calculations, including, but not limited to:


	•	Accounts receivable, returns and allowances
	•	Pension and other post-retirement obligations
	•	Uncertain tax positions
	•	Inventory reserves
	•	Gross profits for book fair operations during interim periods
	•	Sales taxes
	•	Royalty advance reserves
	•	Customer reward programs
	•	Impairment testing for goodwill, intangibles and other long-lived assets

Restricted Cash

The condensed consolidated balance sheets include restricted cash of $0.8, $1.0 and $0.2 at August 31, 2012, May 31, 2012 and August 31, 2011, respectively, which is reported in “Other current assets.”

New Accounting Pronouncements

In July 2012, the FASB issued an update to the authoritative guidance related to the impairment testing of indefinite-lived intangible assets. Similar to the guidance for goodwill impairment testing, companies will have the option to first perform a qualitative assessment to determine whether it is more likely than not that the fair value of the indefinite-lived intangible asset is less than its carrying value. The guidance provides companies with a revised list of examples of events and circumstances to consider, in their totality, to determine whether it is more likely than not that the fair value of the asset is less than its carrying amount. If a company concludes that this is the case, the company is required to perform the quantitative impairment test by comparing the fair value with the carrying value. Otherwise, a company can skip the quantitative test. Companies are not required to perform the qualitative assessment and are permitted to skip the qualitative assessment for any indefinite-lived asset in any period and proceed directly to the quantitative impairment test. The company may resume performing the qualitative assessment in any subsequent period. The amendments are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. Early adoption is permitted, including for annual and interim impairment tests performed as of a date before July 27, 2012, if a public entity’s financial statements for the most recent annual or interim period have not yet been issued. The Company is evaluating the impact of this update on its consolidated financial position and results of operations.

In June 2011, the FASB issued an update related to the reporting of other comprehensive income. The amendments require that all non-owner changes in stockholders’ equity be presented either in a single continuous statement of comprehensive income or in two separate but consecutive statements. The amendments also require the presentation on the face of the financial statements of reclassification adjustments for items that are reclassified from other comprehensive income to net income in the statements where the components of net income and the components of other comprehensive income are presented. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2011. In December 2011, the FASB issued an update that effectively deferred the requirements related to the presentation of reclassification adjustments out of accumulated other comprehensive income. The amendments will be temporary to allow the FASB time to re-deliberate the presentation requirements for reclassifications out of accumulated other comprehensive income for annual and interim financial statements for public, private and non-profit entities. The Company adopted this update during the current fiscal quarter and has presented a separate statement of comprehensive income.

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 94-6
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

3 Months Ended

Aug. 31, 2012

2. Discontinued Operations

The Company continuously evaluates its portfolio of businesses for both impairment and economic viability. The Company monitors the expected cash proceeds to be realized from the disposition of discontinued operations’ assets, and adjusts asset values accordingly.

The following table summarizes the operating results of the discontinued operations for the periods indicated:


	Three months ended
	August 31, 2012			August 31, 2011

Revenues	$	0.0		$	0.1
Non-cash impairment		—			0.9
Earnings (loss) before income taxes		(0.1	)		(2.6	)
Income tax benefit (expense)		0.0			0.6

Earnings (loss) from discontinued operations, net of tax	$	(0.1	)	$	(2.0	)

The following table sets forth the assets and liabilities of the discontinued operations included in the condensed consolidated balance sheets of the Company as of the dates indicated:


	August 31, 2012			May 31, 2012			August 31, 2011

Accounts receivable, net		$	0.0		$	0.0		$	0.1
Inventories, net			0.0			0.0			0.3
Other assets			7.0			7.0			9.2


Current assets of discontinued operations		$	7.0		$	7.0		$	9.6


Accounts payable		$	0.0		$	0.0		$	0.1
Accrued expenses and other current liabilities			2.0			2.1			1.1


Current liabilities of discontinued operations		$	2.0		$	2.1		$	1.2

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
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-Number 144
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Segment Reporting Disclosure [Text Block]

Segment Information

3 Months Ended

Aug. 31, 2012

3. Segment Information

The Company categorizes its businesses into five reportable segments: Children’s Book Publishing and Distribution; Educational Technology and Services; Classroom and Supplemental Materials Publishing; Media, Licensing and Advertising; and International. This classification reflects the nature of products and services consistent with the method by which the Company’s chief operating decision-maker assesses operating performance and allocates resources.


•	Children’s Book Publishing and Distribution operates as an integrated business which includes the publication and distribution of children’s books and other products in the United States through school-based book clubs and book fairs, ecommerce and the trade channel. This segment is comprised of three operating segments.

•	Educational Technology and Services includes the production and distribution to schools of curriculum-based learning technology and materials for grades pre-kindergarten to 12 in the United States, together with related implementation and assessment services and school consulting services. This segment is comprised of one operating segment.

•	Classroom and Supplemental Materials Publishing includes the publication and distribution to schools and libraries of children’s books, classroom magazines, supplemental classroom materials and print and on-line reference and non-fiction products for grades pre-kindergarten to 12 in the United States. This segment is comprised of two operating segments.

•	Media, Licensing and Advertising includes the production and/or distribution of digital media, consumer promotions and merchandising and advertising revenue, including sponsorship programs. This segment is comprised of two operating segments.

•	International includes the publication and distribution of products and services outside the United States by the Company’s international operations, and its export and foreign rights businesses. This segment is comprised of two operating segments.


	Children’s Book Publishing and Distribution ⁽¹⁾⁽²⁾			Educational Technology and Services ⁽¹⁾		Class room and Supplemental Materials Publishing ⁽¹⁾⁽³⁾			Media, Licensing and Advertising ⁽¹⁾⁽²⁾			Overhead ⁽¹⁾⁽⁴⁾			Total Domestic			International ⁽¹⁾⁽⁵⁾			Total

Three months ended
August 31, 2012

Revenues	$	71.1		$	80.0	$	37.9		$	14.4		$	—		$	203.4		$	90.2		$	293.6
Bad debt expense		(0.2	)		0.3		(0.2	)		0.0			—			(0.1	)		0.6			0.5
Depreciation and
amortization⁽⁶⁾		3.8			0.3		0.4			0.1			10.3			14.9			1.2			16.1
Amortization⁽⁷⁾		3.5			5.5		1.7			0.5			—			11.2			0.6			11.8
Segment operating income (loss)		(55.2	)		24.8		(2.6	)		0.0			(17.3	)		(50.3	)		2.8			(47.5	)
Segment assets at 8/31/12		526.4			219.6		171.4			41.5			441.4			1,400.3			315.5			1,715.8
Goodwill at 8/31/12		54.3			22.7		65.4			5.4			—			147.8			9.9			157.7
Expenditures for long-lived assets including royalty advances		15.1			8.2		1.8			2.0			7.5			34.6			2.4			37.0
Long-lived assets at 8/31/12		170.1			103.3		90.0			13.1			244.0			620.5			68.8			689.3


Three months ended
August 31, 2011

Revenues	$	77.5		$	96.6	$	45.7		$	10.5		$	—		$	230.3		$	87.7		$	318.0
Bad debt expense		—			0.3		0.4			—			—			0.7			0.7			1.4
Depreciation and amortization⁽⁶⁾		3.7			0.3		0.3			0.1			9.2			13.6			1.5			15.1
Amortization⁽⁷⁾		3.1			5.2		1.4			1.5			—			11.2			0.7			11.9
Segment operating income (loss)		(50.2	)		38.8		2.1			(4.6	)		(19.2	)		(33.1	)		(0.1	)		(33.2	)
Segment assets at 8/31/11		506.5			185.8		149.8			40.6			396.6			1,279.3			270.2			1,549.5
Goodwill at 8/31/11		54.3			21.9		64.0			5.4			—			145.6			8.6			154.2
Expenditures for long-lived assets including royalty advances		8.2			5.3		1.3			1.9			5.0			21.7			2.3			24.0
Long-lived assets at 8/31/11		172.5			97.1		79.7			20.2			244.6			614.1			71.0			685.1


(1)	As discussed under “Discontinued Operations” in Note 1, “Basis of Presentation,” the Company closed or sold several operations during fiscal 2009, fiscal 2010 and the first quarter of fiscal 2012 and presently holds for sale one facility. All of these businesses are classified as discontinued operations in the Company’s financial statements and, as such, are not reflected in this table.

(2)	As discussed under “Segment” in Note 1, a business previously reported in the Media, Licensing and Advertising segment is now included in the Children’s Book Publishing and Distribution segment.

(3)	Includes assets and results of operations acquired in a business acquisition as of February 8, 2012.

(4)	Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets. Unallocated assets are principally comprised of deferred income taxes and property, plant and equipment related to the Company’s headquarters in the metropolitan New York area, its fulfillment and distribution facilities located in Missouri and its facility located in Connecticut. Overhead also includes amounts previously allocated to the Media, Licensing and Advertising segment for the Company’s direct-to-home toy catalog business that was discontinued in the first quarter of fiscal 2012.

(5)	Includes assets and results of operations acquired in a business acquisition as of January 3, 2012.

(6)	Includes depreciation of property, plant and equipment and amortization of intangible assets.

(7)	Includes amortization of prepublication and production costs.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 131
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Debt Disclosure [Text Block]

Debt

3 Months Ended

Aug. 31, 2012

4. Debt

The following table summarizes debt as of the dates indicated:



	Carrying Value			Fair Value			Carrying Value			Fair Value			Carrying Value			Fair Value

	August 31, 2012						May 31, 2012						August 31, 2011


Lines of Credit (weighted average interest rates of 4.9%, 5.3% and 4.0%, respectively)	$	0.6		$	0.6		$	6.5		$	6.5		$	7.9		$	7.9
Loan Agreement:
Revolving Loan		—			—			—			—			—			—
Term Loan (interest rates of n/a, n/a and 1.0%, respectively)		—			—			—			—			39.5			39.5
5% Notes due 2013, net of discount		152.8			153.6			152.8			155.4			152.6			153.0


Total debt	$	153.4		$	154.2		$	159.3		$	161.9		$	200.0		$	200.4


Less lines of credit, short-term debt and current portion of long-term debt		(0.6	)		(0.6	)		(6.5	)		(6.5	)		(47.4	)		(47.4	)


Total long-term debt	$	152.8		$	153.6		$	152.8		$	155.4		$	152.6		$	153.0

Short-term debt’s carrying value approximates fair value. Fair value of the Loan Agreement approximates its carrying value due to its variable interest rate and consistent credit rating. Fair values of the Notes were estimated based on market quotes, where available, or dealer quotes.

The following table sets forth the maturities of the Company’s debt obligations as of August 31, 2012, for the twelve-month periods ending August 31,


2013	$	0.6
2014		152.8

Total debt	$	153.4

Loan Agreement

On June 1, 2007, Scholastic Corporation and Scholastic Inc. (each, a “Borrower” and together, the “Borrowers”) entered into a $525.0 credit facility with certain banks (the “Loan Agreement”), consisting of a $325.0 revolving credit component (the “Revolving Loan”) and a $200.0 amortizing term loan component (the “Term Loan”). The Loan Agreement was amended on August 16, 2010, and again on October 25, 2011. The October 25, 2011 amendment extended the maturity of the Revolving Loan facility to June 1, 2014 from June 1, 2012 and provided for the repayment of the outstanding balance of the Term Loan on October 25, 2011.

The $325.0 Revolving Loan allows the Company to borrow, repay or prepay and reborrow at any time prior to the stated maturity date, and the proceeds may be used for general corporate purposes, including financing for acquisitions and share repurchases. The Loan Agreement also provides for an increase in the aggregate Revolving Loan commitments of the lenders of up to an additional $150.0.

Interest on the Revolving Loan is due and payable in arrears on the last day of the interest period (defined as the period commencing on the date of the advance and ending on the last day of the period selected by the Borrower at the time each advance is made). The interest pricing under the Revolving Loan is dependent upon the Borrower’s election of a rate that is either:


	•	A Base Rate equal to the higher of (i) the prime rate, (ii) the prevailing Federal Funds rate plus 0.500% or (iii) the Eurodollar Rate for a one month interest period plus 1% plus an applicable spread ranging from 0.18% to 0.60%, as determined by the Company’s prevailing consolidated debt to total capital ratio.

		- Or -

	•	A Eurodollar Rate equal to the London interbank offered rate (LIBOR) plus an applicable spread ranging from 1.18% to 1.60%, as determined by the Company’s prevailing consolidated debt to total capital ratio.

As of August 31, 2012, the indicated spread on Base Rate Advances was 0.18% and the indicated spread on Eurodollar Rate Advances was 1.18%, both based on the Company’s prevailing consolidated debt to total capital ratio. There were no Revolving Loan Advances outstanding on August 31, 2012.

The Loan Agreement also provides for the payment of a facility fee ranging from 0.20% to 0.40% per annum based upon the Company’s prevailing consolidated debt to total capital ratio. At August 31, 2012, the facility fee rate was 0.20%.

At August 31, 2012, the Company had open standby letters of credit totaling $6.6, including $1.4 under the Loan Agreement.

The Loan Agreement contains certain covenants, including interest coverage and leverage ratio tests and certain limitations on the amount of dividends and other distributions, and at August 31, 2012, the Company was in compliance with these covenants.

Lines of Credit

As of August 31, 2012, the Company’s domestic credit lines available under unsecured money market bid rate credit lines totaled $20.0. There were no outstanding borrowings under these credit lines at August 31, 2012, May 31, 2012 and August 31, 2011. All loans made under these credit lines are at the sole discretion of the lender and at an interest rate and term agreed to at the time each loan is made, but not to exceed 365 days. These credit lines may be renewed, if requested by the Company, at the option of the lender.

As of August 31, 2012, the Company had various local currency credit lines, with maximum available borrowings in amounts equivalent to $33.8, underwritten by banks primarily in the United States, Canada, Australia and the United Kingdom. These credit lines are typically available for overdraft borrowings or loans up to 364 days and may be renewed, if requested by the Company, at the sole option of the lender. Borrowings and weighted average interest rates for these lines of credit are presented in the table above.

5% Notes due 2013

In April 2003, Scholastic Corporation issued $175.0 of 5% Notes (the “5% Notes”). The 5% Notes are senior unsecured obligations that mature on April 15, 2013. Interest on the 5% Notes is payable semi-annually on April 15 and October 15 of each year through maturity. The Company may at any time redeem all or a portion of the 5% Notes at a redemption price (plus accrued interest to the date of the redemption) equal to the greater of (i) 100% of the principal amount, or (ii) the sum of the present values of the remaining scheduled payments of principal and interest discounted to the date of redemption.

As noted above under “Loan Agreement,” the Company amended the terms of the Revolving Loan to extend the maturity date from June 1, 2012 to June 1, 2014. The Company has the ability to use a portion of this credit facility to fully redeem the 5% Notes due 2013 and intends to draw on this credit facility for this purpose. Accordingly, the balance of the 5% Notes is excluded from current liabilities and classified as long-term debt on the Company’s condensed consolidated balance sheet at August 31, 2012 and May 31, 2012.

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

Commitments and Contingencies Disclosure [Text Block]

Commitments and Contingencies

3 Months Ended

Aug. 31, 2012

5. Commitments and Contingencies

Various claims and lawsuits arising in the normal course of business are pending against the Company. The Company accrues a liability for such matters when it is probable that a liability has occurred and the amount of such liability can be reasonably estimated. When only a range can be estimated, the most probable amount in the range is accrued unless no amount within the range is a better estimate than any other amount, in which case the minimum amount in the range is accrued. Legal costs associated with litigation loss contingencies are expensed in the period in which they are incurred. The Company does not expect, in the case of those various claims and lawsuits arising in the normal course of business where a loss is considered probable or reasonably possible, that the reasonably possible losses from such claims and lawsuits (either individually or in the aggregate) would have a material adverse effect on the Company’s consolidated financial position or results of operations.

Grolier Limited is an indirect subsidiary of Scholastic Corporation, located in the United Kingdom, which ceased operations in fiscal 2008 and the operations of which are included in discontinued operations. The Company is currently in the process of settling a Grolier Limited pension plan in effect at the time it ceased operations and is evaluating the potential pension liabilities under the plan relating to the status of the plan as a defined contribution or a defined benefit plan in the context of the conversion of the plan from a defined benefit to a defined contribution plan in 1986. The Company is not in a position to estimate a range of the reasonably possible liability at this time.

The entire disclosure for commitments and contingencies.

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-Paragraph 3
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 5
-Paragraph 9, 10, 11, 12
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Earnings Per Share [Text Block]

Earnings (Loss) Per Share

3 Months Ended

Aug. 31, 2012

6. Earnings (Loss) Per Share

The following table summarizes the reconciliation of the numerators and denominators for the basic and diluted earnings (loss) per share computation for the three-month periods ended August 31, 2012 and 2011, respectively:


	Three months ended
	August 31, 2012			August 31, 2011


Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(31.9	)	$	(25.0	)

Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax		(0.1	)		(2.0	)


Net income (loss) attributable to Class A and Common Shares	$	(32.0	)	$	(27.0	)

Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)		31.5			31.0

Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions)		*			*

Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions)		*			*

Earnings (loss) per share of Class A Stock and Common Stock:
Basic earnings (loss) per share:

Earnings (loss) from continuing operations	$	(1.02	)	$	(0.81	)

Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.06	)

Net income (loss)	$	(1.02	)	$	(0.87	)

Diluted earnings (loss) per share:

Earnings (loss) from continuing operations	$	(1.02	)	$	(0.81	)

Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.06	)

Net income (loss)	$	(1.02	)	$	(0.87	)

* In the three months ended August 31, 2012 and 2011, the Company experienced a loss from continuing operations and therefore did not report any dilutive share impact.

In periods of Net loss, dilutive earnings per share are not reported as the effect of the potentially dilutive shares becomes anti-dilutive.

In a period in which the Company reports a discontinued operation, Earnings (loss) from continuing operations is used as the “control number” in determining whether potentially dilutive common shares are dilutive or anti-dilutive.

A portion of the Company’s restricted stock units (“RSUs”) which are granted to employees participate in earnings through cumulative non-forfeitable dividends payable to the employees upon vesting of the RSUs. Accordingly, the Company measures earnings per share based upon the two-class method.

Loss from continuing operations exclude losses of less than $0.1 for the three months ended August 31, 2012 and 2011, respectively, for earnings attributable to participating RSUs.

Potentially dilutive shares outstanding pursuant to compensation plans that were not included in the diluted earnings per share calculation because they were anti-dilutive were 2.8 million and 4.5 million for the three months ended August 31, 2012 and 2011, respectively. Options outstanding pursuant to compensation plans were 5.1 million and 6.0 million as of August 31, 2012 and 2011, respectively.

As of August 31, 2012, $31.4 remains available for future purchases of common shares under the current repurchase authorization of the Board of Directors. See Note 12, “Treasury Stock,” for a more complete description of the Company’s share buy-back program.

Goodwill and Other Intangibles

3 Months Ended

Aug. 31, 2012

Goodwill and Intangible Assets Disclosure [Text Block]

7. Goodwill and Other Intangibles

Goodwill and other intangible assets with indefinite lives are reviewed annually for impairment or more frequently if impairment indicators arise.

The following table summarizes the activity in Goodwill for the periods indicated:


	Three months ended			Twelve months ended			Three months ended
	August 31, 2012			May 31, 2012			August 31, 2011

Gross beginning balance	$	178.5		$	175.0		$	175.0
Accumulated impairment		(20.8	)		(20.8	)		(20.8	)


Beginning balance	$	157.7		$	154.2		$	154.2
Additions due to acquisition		—			2.7			—
Impairment charge		—			—			—
Foreign currency translation		0.0			0.0			0.0
Other		—			0.8			—

Gross ending balance	$	178.5		$	178.5		$	175.0
Accumulated impairment		(20.8	)		(20.8	)		(20.8	)

Ending balance	$	157.7		$	157.7		$	154.2

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 $4.8 in assumed liabilities, which have been fulfilled by the Company. The Company utilized internally-developed discounted cash flow forecasts and market comparisons of royalty rates to determine the fair value of the assets acquired and the amount to be allocated to goodwill. As a result, the Company recognized $1.4 of goodwill and $5.4 of intangible assets. 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.

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. The Company utilized Level 3 fair value measurement inputs, using its own assumptions, including internally-developed discounted cash flow forecasts, to determine the fair value of the assets acquired and the amount of goodwill to be allocated to the Learners Publishing business. As a result of this transaction, the Company recorded $1.3 of goodwill. The results of operations of this business subsequent to the acquisition date are included in the International segment.

The following table summarizes the activity in Total other intangibles subject to amortization for the periods indicated:


	Three months ended			Twelve months ended			Three months ended
	August 31, 2012			May 31, 2012			August 31, 2011



Beginning balance - customer lists	$	4.3		$	0.7		$	0.7
Additions due to acquisition		0.1			3.8			—
Amortization expense		(0.2	)		(0.2	)		0.0
Foreign currency translation		0.0			0.0			0.0

Customer lists, net of accumulated amortization of $1.5, $1.3 and $1.1, respectively	$	4.2		$	4.3		$	0.7


Beginning balance - other	$	10.4		$	17.3		$	17.3
Additions due to acquisition		—			—			—
Impairment charge		—			(5.4	)		—
Amortization expense		(0.3	)		(1.4	)		(0.4	)
Other		0.1			(0.1	)		—

Other intangibles, net of accumulated amortization of $10.8, $10.5 and $4.5, respectively	$	10.2		$	10.4		$	16.9



Total other intangibles subject to amortization	$	14.4		$	14.7		$	17.6

Amortization expense for Total other intangibles was $0.5 and $0.4 for the three months ended August 31, 2012 and 2011, respectively. Intangible assets with definite lives consist principally of customer lists, covenants not to compete and publishing and trademark rights. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is 9 years.

In fiscal 2012, due to declining revenues associated with certain publishing and trademark rights in the Children’s Book Publishing and Distribution segment, the Company determined that the intangible assets associated with these rights were not fully recoverable and recognized an impairment in amortization expense of $4.9 based upon the difference between the carrying value and the fair value of the assets, and reduced the expected useful life of these assets. The Company employed Level 3 fair value measurement techniques to determine the fair value of these assets, including the relief from royalty method.

The following table summarizes Other intangibles not subject to amortization at the dates indicated:


	August 31, 2012		May 31, 2012		August 31, 2011

Net carrying value by major class:
Trademarks and other	$	2.0	$	2.0	$	1.8

Total	$	2.0	$	2.0	$	1.8

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Equity Method And Cost Method Investments [Text Block]

Investments

3 Months Ended

Aug. 31, 2012

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

Employee Benefit Plans

3 Months Ended

Aug. 31, 2012

Pension and Other Postretirement Benefits Disclosure [Text Block]

9. Employee Benefit Plans

The following table sets forth components of the net periodic benefit costs for the periods indicated under the Company’s cash balance retirement plan for its United States employees meeting certain eligibility requirements (the “U.S. Pension Plan”) and the defined benefit pension plan of Scholastic Ltd., an indirect subsidiary of Scholastic Corporation located in the United Kingdom (the “UK Pension Plan” and, together with the U.S. Pension Plan, the “Pension Plans”). Also included are the post-retirement benefits, consisting of certain healthcare and life insurance benefits, provided by the Company to its eligible retired United States-based employees (the “Post-Retirement Benefits”). The Pension Plans and Post-Retirement Benefits include participants associated with both continuing operations and discontinued operations.


	Pension Plans Three months ended						Post-Retirement Benefits Three months ended
	August 31, 2012			August 31, 2011			August 31, 2012			August 31, 2011

Components of net periodic benefit (credit) cost:
Service cost	$	—		$	—		$	0.0		$	0.0
Interest cost		1.7			2.1			0.4			0.5
Expected return on assets		(2.6	)		(2.7	)		—			—
Net amortization of prior service credit		—			—			(0.1	)		(0.2	)
Amortization of loss		0.5			0.3			0.9			1.0

Net periodic benefit (credit) cost	$	(0.4	)	$	(0.3	)	$	1.2		$	1.3

The Company’s funding practice with respect to the Pension Plans is to contribute on an annual basis at least the minimum amounts required by applicable laws. For the three months ended August 31, 2012, the Company contributed $1.9 to the U.S. Pension Plan and $0.5 to the UK Pension Plan.

The Company expects, based on actuarial calculations, to contribute cash of approximately $10.6 to the Pension Plans for the fiscal year ending May 31, 2013.

The entire disclosure for pension and other postretirement benefits.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-URI http://asc.fasb.org/topic&trid=2235017

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Implementation Guide (Q and A)
-Number FAS88
-Paragraph 63
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-2
-Paragraph 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph q
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 8
-Subparagraph m
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5, 6, 7, 8
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 158
-Paragraph 7, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS106-2
-Paragraph 20, 21, 22
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 30
-Paragraph 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

Stock-Based Compensation

3 Months Ended

Aug. 31, 2012

10. Stock-Based Compensation

The following table summarizes stock-based compensation expense included in Selling, general and administrative expenses for the periods indicated:


	Three months ended
	August 31, 2012		August 31, 2011

Stock option expense	$	1.0	$	1.5
Restricted stock unit expense		0.9		0.7
Management stock purchase plan		0.0		0.0
Employee stock purchase plan		0.1		0.0


Total stock-based compensation expense	$	2.0	$	2.2

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 718
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-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901

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-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
-Paragraph 53
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Severance Disclosure [Text Block]

Severance and Exit Costs

3 Months Ended

Aug. 31, 2012

11. Severance and Exit Costs

Severance expense incurred by the Company was $1.3 during the three months ended August 31, 2012, $14.9 during the twelve months ended May 31, 2012 and $3.3 during the three months ended August 31, 2011. Accrued severance of $1.1, $2.7 and $2.4 as of August 31, 2012, May 31, 2012 and August 31, 2011, respectively, is included in “Other accrued expenses” on the Company’s condensed consolidated balance sheets. The table below provides information regarding the severance expense reported in the Company’s condensed consolidated statements of operations.


	Three months ended August 31, 2012			Twelve months ended May 31, 2012			Three months ended August 31, 2011


Beginning balance	$	2.7		$	1.9		$	1.9
Accruals		1.3			14.9			3.3
Payments		(2.9	)		(14.1	)		(2.8	)

Ending balance	$	1.1		$	2.7		$	2.4

Treasury Stock

3 Months Ended

Aug. 31, 2012

Treasury Stock Disclosure [Text Block]

12. Treasury Stock

The Board of Directors has authorized the Company to repurchase Common Stock, from time to time as conditions allow, on the open market or through negotiated private transactions. The table below represents the remaining Board authorization:


Board Authorization	Amount


September 2010	$	44.0
Less repurchases made from November 2011 through August 2012		(12.6	)


Remaining Board authorization at August 31, 2012	$	31.4

The Company’s repurchase program may be suspended at any time without prior notice. No repurchases of Common Stock were made during the first fiscal quarter of 2013.

Fair Value Measurements

3 Months Ended

Aug. 31, 2012

Fair Value Disclosures [Text Block]

13. Fair Value Measurements

The Company determines the appropriate level in the fair value hierarchy for each fair value measurement of assets and liabilities carried at fair value on a recurring basis in the Company’s financial statements. The fair value hierarchy prioritizes the inputs, which refer to assumptions that market participants would use in pricing an asset or liability, based upon the highest and best use, into three levels as follows:


	•	Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date.

	•	Level 2 Observable inputs other than unadjusted quoted prices in active markets for identical assets or liabilities such as


		o	Quoted prices for similar assets or liabilities in active markets
		o	Quoted prices for identical or similar assets or liabilities in inactive markets
		o	Inputs other than quoted prices that are observable for the asset or liability
		o	Inputs that are derived principally from or corroborated by observable market data by correlation or other means

•	Level 3 Unobservable inputs in which there is little or no market data available, which are significant to the fair value measurement and require the Company to develop its own assumptions.

The Company’s financial assets and liabilities measured at fair value consisted of cash and cash equivalents, debt and foreign currency forward contracts. Cash and cash equivalents are comprised of bank deposits and short-term investments, such as money market funds, the fair value of which is based on quoted market prices, a Level 1 fair value measure. The Company employs Level 2 fair value measurements for the disclosure of the fair value of its 5% Notes and its various lines of credit. See Note 4, “Debt,” for a more complete description of fair value measurements employed. The fair values of foreign currency forward contracts, used by the Company to manage the impact of foreign exchange rate changes to the financial statements, are based on quotations from financial institutions, a Level 2 fair value measure. See Note 15, “Derivatives and Hedging,” for a more complete description of fair value measurements employed.

Non-financial assets and liabilities for which the Company employs fair value measures on a non-recurring basis include:


	•	Long-lived assets

	•	Investments

	•	Assets acquired in a business combination

	•	Goodwill and indefinite-lived intangible assets

	•	Long-lived assets held for sale

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13504-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15B
-Subparagraph a, b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44A, 44B
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 17-22, 27, 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15A
-Subparagraph a-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15C, 15D
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32, 33, 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 3, 10, 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Income Tax And Non Income Tax Disclosure [Text Block]

Income Taxes and Other Taxes

3 Months Ended

Aug. 31, 2012

14. Income Taxes and Other Taxes

Income Taxes

In calculating the provision for income taxes on an interim basis, the Company uses an estimate of the annual effective tax rate based upon the facts and circumstances known and applies that rate to its year-to-date earnings or losses. The Company’s effective tax rate is based on expected income and statutory tax rates and takes into consideration permanent differences between financial statement and tax return income applicable to the Company in the various jurisdictions in which the Company operates. The effect of discrete items, such as changes in estimates, changes in enacted tax laws or rates or tax status, and unusual or infrequently occurring events, is recognized in the interim period in which the discrete item occurs. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or as the result of new judicial interpretations or regulatory or tax law changes.

The Company’s annual effective tax rate for the fiscal year ending May 31, 2013 is currently expected to be approximately 39.8%.

The Corporation, including its domestic subsidiaries, files a consolidated U.S. income tax return, and also files tax returns in various states and other local jurisdictions. Also, certain subsidiaries of the Corporation file income tax returns in foreign jurisdictions. The Company is routinely audited by various tax authorities. The Company is currently under audit by the Internal Revenue Service for fiscal years ended May 31, 2007, 2008 and 2009. The Company is currently under audit by New York State for fiscal years ended May 31, 2006, 2007 and 2008, and by New York City for fiscal years ended May 31, 2005, 2006 and 2007. If any of these tax examinations are concluded within the next twelve months, the Company will make any necessary adjustments to its unrecognized tax benefits.

Non-income Taxes

The Company is subject to tax examinations for sales-based taxes. A number of these examinations are ongoing and, in certain cases, have resulted in assessments from taxing authorities. Where a liability associated with these examinations and assessments is probable and can be reliably estimated, the Company has made accruals for these matters which are reflected in the Company’s condensed consolidated financial statements.

Derivatives and Hedging

3 Months Ended

Aug. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Text Block]

15. Derivatives and Hedging

The Company enters into foreign currency derivative contracts to economically hedge the exposure to foreign currency fluctuations associated with the forecasted purchase of inventory and the foreign exchange risk associated with certain receivables denominated in foreign currencies. These derivative contracts are economic hedges and are not designated as cash flow hedges. The Company marks-to-market these instruments and records the changes in the fair value of these items in current earnings, and it recognizes the unrealized gain or loss in other current assets or liabilities. Unrealized gains of less than $0.1 and $0.1 were recognized at August 31, 2012 and 2011, respectively.

The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 1
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Reference 20: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(n))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 21: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 45
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 22: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 44
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Subsequent Events [Text Block]

Subsequent Events

3 Months Ended

Aug. 31, 2012

16. Subsequent Events

On September 19, 2012, the Company announced that the Board of Directors declared a cash dividend of $0.125 per Class A and Common share in respect of the second quarter of fiscal 2013. The dividend is payable on December 17, 2012 to shareholders of record on October 31, 2012.

Accounting Policies, by Policy (Policies)

3 Months Ended

Aug. 31, 2012

Consolidation, Policy [Policy Text Block]

Principles of consolidation

The Company’s fiscal year is not a calendar year. Accordingly, references in this document to fiscal 2012 relate to the twelve-month period ended May 31, 2012.

Segment Reporting, Policy [Policy Text Block]

Segment

Use of Estimates, Policy [Policy Text Block]

Use of estimates


	•	Accounts receivable, returns and allowances
	•	Pension and other post-retirement obligations
	•	Uncertain tax positions
	•	Inventory reserves
	•	Gross profits for book fair operations during interim periods
	•	Sales taxes
	•	Royalty advance reserves
	•	Customer reward programs
	•	Impairment testing for goodwill, intangibles and other long-lived assets

Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/subtopic&trid=2197480

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-Name Accounting Standards Codification
-Topic 860
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-URI http://asc.fasb.org/section&trid=2197723

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-Name Accounting Standards Codification
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-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2196966

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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.3A-02)
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 5, 6, 16-19
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 96-16
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 20
-Subparagraph a(2)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 14: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 2-6
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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-Name Emerging Issues Task Force (EITF)
-Number 97-2
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 16: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 02
-Paragraph k
-Article 1

Reference 17: http://www.xbrl.org/2003/role/presentationRef
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-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 18: http://www.xbrl.org/2003/role/presentationRef
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-Name Regulation S-X (SX)
-Number 210
-Section 02, 03
-Article 3A

Reference 19: http://www.xbrl.org/2003/role/presentationRef
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-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 14, 15
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Schedule Of Discontinued Operation Gain Loss On Disposal Of Discontinued Operation [Table Text Block]

Discontinued Operations (Tables)

3 Months Ended

Aug. 31, 2012

The following table summarizes the operating results of the discontinued operations for the periods indicated:


	Three months ended
	August 31, 2012			August 31, 2011

Revenues	$	0.0		$	0.1
Non-cash impairment		—			0.9
Earnings (loss) before income taxes		(0.1	)		(2.6	)
Income tax benefit (expense)		0.0			0.6

Earnings (loss) from discontinued operations, net of tax	$	(0.1	)	$	(2.0	)

Schedule Of Disposal Groups Including Discontinued Operations Balance Sheet [Table Text Block]

The following table sets forth the assets and liabilities of the discontinued operations included in the condensed consolidated balance sheets of the Company as of the dates indicated:


	August 31, 2012			May 31, 2012			August 31, 2011

Accounts receivable, net		$	0.0		$	0.0		$	0.1
Inventories, net			0.0			0.0			0.3
Other assets			7.0			7.0			9.2


Current assets of discontinued operations		$	7.0		$	7.0		$	9.6


Accounts payable		$	0.0		$	0.0		$	0.1
Accrued expenses and other current liabilities			2.0			2.1			1.1


Current liabilities of discontinued operations		$	2.0		$	2.1		$	1.2

Segment Information (Tables)

3 Months Ended

Aug. 31, 2012

Schedule of Segment Reporting Information, by Segment [Table Text Block]

Schedule of segment reporting information


	Children’s Book Publishing and Distribution ⁽¹⁾⁽²⁾			Educational Technology and Services ⁽¹⁾		Class room and Supplemental Materials Publishing ⁽¹⁾⁽³⁾			Media, Licensing and Advertising ⁽¹⁾⁽²⁾			Overhead ⁽¹⁾⁽⁴⁾			Total Domestic			International ⁽¹⁾⁽⁵⁾			Total

Three months ended
August 31, 2012

Revenues	$	71.1		$	80.0	$	37.9		$	14.4		$	—		$	203.4		$	90.2		$	293.6
Bad debt expense		(0.2	)		0.3		(0.2	)		0.0			—			(0.1	)		0.6			0.5
Depreciation and
amortization⁽⁶⁾		3.8			0.3		0.4			0.1			10.3			14.9			1.2			16.1
Amortization⁽⁷⁾		3.5			5.5		1.7			0.5			—			11.2			0.6			11.8
Segment operating income (loss)		(55.2	)		24.8		(2.6	)		0.0			(17.3	)		(50.3	)		2.8			(47.5	)
Segment assets at 8/31/12		526.4			219.6		171.4			41.5			441.4			1,400.3			315.5			1,715.8
Goodwill at 8/31/12		54.3			22.7		65.4			5.4			—			147.8			9.9			157.7
Expenditures for long-lived assets including royalty advances		15.1			8.2		1.8			2.0			7.5			34.6			2.4			37.0
Long-lived assets at 8/31/12		170.1			103.3		90.0			13.1			244.0			620.5			68.8			689.3


Three months ended
August 31, 2011

Revenues	$	77.5		$	96.6	$	45.7		$	10.5		$	—		$	230.3		$	87.7		$	318.0
Bad debt expense		—			0.3		0.4			—			—			0.7			0.7			1.4
Depreciation and amortization⁽⁶⁾		3.7			0.3		0.3			0.1			9.2			13.6			1.5			15.1
Amortization⁽⁷⁾		3.1			5.2		1.4			1.5			—			11.2			0.7			11.9
Segment operating income (loss)		(50.2	)		38.8		2.1			(4.6	)		(19.2	)		(33.1	)		(0.1	)		(33.2	)
Segment assets at 8/31/11		506.5			185.8		149.8			40.6			396.6			1,279.3			270.2			1,549.5
Goodwill at 8/31/11		54.3			21.9		64.0			5.4			—			145.6			8.6			154.2
Expenditures for long-lived assets including royalty advances		8.2			5.3		1.3			1.9			5.0			21.7			2.3			24.0
Long-lived assets at 8/31/11		172.5			97.1		79.7			20.2			244.6			614.1			71.0			685.1

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

Schedule of Debt [Table Text Block]

Debt (Tables)

3 Months Ended

Aug. 31, 2012

The following table summarizes debt as of the dates indicated:



	Carrying Value			Fair Value			Carrying Value			Fair Value			Carrying Value			Fair Value

	August 31, 2012						May 31, 2012						August 31, 2011


Lines of Credit (weighted average interest rates of 4.9%, 5.3% and 4.0%, respectively)	$	0.6		$	0.6		$	6.5		$	6.5		$	7.9		$	7.9
Loan Agreement:
Revolving Loan		—			—			—			—			—			—
Term Loan (interest rates of n/a, n/a and 1.0%, respectively)		—			—			—			—			39.5			39.5
5% Notes due 2013, net of discount		152.8			153.6			152.8			155.4			152.6			153.0


Total debt	$	153.4		$	154.2		$	159.3		$	161.9		$	200.0		$	200.4


Less lines of credit, short-term debt and current portion of long-term debt		(0.6	)		(0.6	)		(6.5	)		(6.5	)		(47.4	)		(47.4	)


Total long-term debt	$	152.8		$	153.6		$	152.8		$	155.4		$	152.6		$	153.0

Schedule Of Maturities Debt [Text Block]

The following table sets forth the maturities of the Company’s debt obligations as of August 31, 2012, for the twelve-month periods ending August 31


2013	$	0.6
2014		152.8

Total debt	$	153.4

Earnings (Loss) Per Share (Tables)

3 Months Ended

Aug. 31, 2012

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]


	Three months ended
	August 31, 2012			August 31, 2011


Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(31.9	)	$	(25.0	)

Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax		(0.1	)		(2.0	)


Net income (loss) attributable to Class A and Common Shares	$	(32.0	)	$	(27.0	)

Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)		31.5			31.0

Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions)		*			*

Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions)		*			*

Earnings (loss) per share of Class A Stock and Common Stock:
Basic earnings (loss) per share:

Earnings (loss) from continuing operations	$	(1.02	)	$	(0.81	)

Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.06	)

Net income (loss)	$	(1.02	)	$	(0.87	)

Diluted earnings (loss) per share:

Earnings (loss) from continuing operations	$	(1.02	)	$	(0.81	)

Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.06	)

Net income (loss)	$	(1.02	)	$	(0.87	)

Goodwill and Other Intangibles (Tables)

3 Months Ended

Aug. 31, 2012

Schedule of Goodwill [Table Text Block]

The following table summarizes the activity in Goodwill for the periods indicated:


	Three months ended			Twelve months ended			Three months ended
	August 31, 2012			May 31, 2012			August 31, 2011

Gross beginning balance	$	178.5		$	175.0		$	175.0
Accumulated impairment		(20.8	)		(20.8	)		(20.8	)


Beginning balance	$	157.7		$	154.2		$	154.2
Additions due to acquisition		—			2.7			—
Impairment charge		—			—			—
Foreign currency translation		0.0			0.0			0.0
Other		—			0.8			—

Gross ending balance	$	178.5		$	178.5		$	175.0
Accumulated impairment		(20.8	)		(20.8	)		(20.8	)

Ending balance	$	157.7		$	157.7		$	154.2

Schedule of Finite-Lived Intangible Assets [Table Text Block]

The following table summarizes the activity in Total other intangibles subject to amortization for the periods indicated:


	Three months ended			Twelve months ended			Three months ended
	August 31, 2012			May 31, 2012			August 31, 2011



Beginning balance - customer lists	$	4.3		$	0.7		$	0.7
Additions due to acquisition		0.1			3.8			—
Amortization expense		(0.2	)		(0.2	)		0.0
Foreign currency translation		0.0			0.0			0.0

Customer lists, net of accumulated amortization of $1.5, $1.3 and $1.1, respectively	$	4.2		$	4.3		$	0.7


Beginning balance - other	$	10.4		$	17.3		$	17.3
Additions due to acquisition		—			—			—
Impairment charge		—			(5.4	)		—
Amortization expense		(0.3	)		(1.4	)		(0.4	)
Other		0.1			(0.1	)		—

Other intangibles, net of accumulated amortization of $10.8, $10.5 and $4.5, respectively	$	10.2		$	10.4		$	16.9



Total other intangibles subject to amortization	$	14.4		$	14.7		$	17.6

Schedule of Indefinite-Lived Intangible Assets [Table Text Block]

The following table summarizes Other intangibles not subject to amortization at the dates indicated:


	August 31, 2012		May 31, 2012		August 31, 2011

Net carrying value by major class:
Trademarks and other	$	2.0	$	2.0	$	1.8

Total	$	2.0	$	2.0	$	1.8

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

Schedule Of Cost And Equity Method Investments [Table Text Block]

Investments (Tables)

3 Months Ended

Aug. 31, 2012

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

Employee Benefit Plans (Tables)

3 Months Ended

Aug. 31, 2012

Schedule of Net Benefit Costs [Table Text Block]

Schedule of net periodic costs


	Pension Plans Three months ended						Post-Retirement Benefits Three months ended
	August 31, 2012			August 31, 2011			August 31, 2012			August 31, 2011

Components of net periodic benefit (credit) cost:
Service cost	$	—		$	—		$	0.0		$	0.0
Interest cost		1.7			2.1			0.4			0.5
Expected return on assets		(2.6	)		(2.7	)		—			—
Net amortization of prior service credit		—			—			(0.1	)		(0.2	)
Amortization of loss		0.5			0.3			0.9			1.0

Net periodic benefit (credit) cost	$	(0.4	)	$	(0.3	)	$	1.2		$	1.3

Stock-Based Compensation (Tables)

3 Months Ended

Aug. 31, 2012

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]

The following table summarizes stock-based compensation expense included in Selling, general and administrative expenses for the periods indicated:


	Three months ended
	August 31, 2012		August 31, 2011

Stock option expense	$	1.0	$	1.5
Restricted stock unit expense		0.9		0.7
Management stock purchase plan		0.0		0.0
Employee stock purchase plan		0.1		0.0


Total stock-based compensation expense	$	2.0	$	2.2

Severance and Exit Costs (Tables)

3 Months Ended

Aug. 31, 2012

Schedule Of Accrued Severance Costs [Table Text Block]

The table below provides information regarding the severance expense reported in the Company’s condensed consolidated statements of operations.


	Three months ended August 31, 2012			Twelve months ended May 31, 2012			Three months ended August 31, 2011


Beginning balance	$	2.7		$	1.9		$	1.9
Accruals		1.3			14.9			3.3
Payments		(2.9	)		(14.1	)		(2.8	)

Ending balance	$	1.1		$	2.7		$	2.4

Treasury Stock (Tables)

3 Months Ended

Aug. 31, 2012

Schedule of Treasury Stock by Class [Table Text Block]


Board Authorization	Amount


September 2010	$	44.0
Less repurchases made from November 2011 through August 2012		(12.6	)


Remaining Board authorization at August 31, 2012	$	31.4

Basis of Presentation (Detail) - USD ($) $ in Millions	3 Months Ended
Basis of Presentation (Detail) - USD ($) $ in Millions	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012
Pension And Post Retirement Benefit Plans [Member]
Selling, General and Administrative Expense	$ 1.1	$ 1.3
Selling, General and Administrative Expense	173.9	175.7
Restricted Cash	$ 0.8	$ 0.2	$ 1.0

Discontinued Operations (Detail) - Schedule of operating results of the discontinued operations - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2012	Aug. 31, 2011
Revenues	$ 0.0	$ 0.1
Non-cash impairment		0.9
Earnings (loss) before income taxes	(0.1)	(2.6)
Income tax benefit (expense)	0.0	0.6
Earnings (loss) from discontinued operations, net of tax	$ (0.1)	$ (2.0)

Overall income (loss) from a disposal group that is classified as a component of the entity, before income tax, reported as a separate component of income before extraordinary items. Includes the following (before income tax): income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

Tax effect allocated to a disposal group that is classified as a component of the entity reported as a separate component of income before extraordinary items. Includes the tax effects of the following: income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b),(c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32672-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 20
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=18498875&loc=d3e38679-109324

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Amount of income (loss) from a disposal group, net of income tax, reported as a separate component of income before extraordinary items after deduction or consideration of the amount allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

Children's Book Publishing and Distribution [Member]

Discontinued Operations (Detail) - Schedule of assets and liabilities of the discontinued operations - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Accounts receivable, net	$ 0.0	$ 0.0	$ 0.1
Inventories, net	0.0	0.0	0.3
Other assets	7.0	7.0	9.2
Current assets of discontinued operations	7.0	7.0	9.6
Accounts payable	0.0	0.0	0.1
Accrued expenses and other current liabilities	2.0	2.1	1.1
Current liabilities of discontinued operations	$ 2.0	$ 2.1	$ 1.2

Segment Information (Detail) - Schedule of segment reporting information - USD ($)
$ in Millions

3 Months Ended

Aug. 31, 2012

Aug. 31, 2011

May 31, 2012

May 31, 2011

^[1],[2]

$ 71.1

$ 77.5

^[1],[2]

(0.2)

^[1],[2],[3]

3.8

3.7

^[1],[2],[4]

3.5

3.1

^[1],[2]

(55.2)

(50.2)

^[1],[2]

526.4

506.5

Expenditures for long-lived assets including royalty advances

^[1],[2]

54.3

^[1],[2]

15.1

8.2

Educational Technology and Services [Member]

^[1],[2]

170.1

172.5

^[1]

80.0

96.6

^[1]

0.3

^[1],[3]

0.3

^[1],[4]

5.5

5.2

^[1]

24.8

38.8

^[1]

219.6

185.8

Expenditures for long-lived assets including royalty advances

^[1]

22.7

21.9

^[1]

8.2

5.3

Classroom Supplemental Materials Publishing [Member]

^[1]

103.3

97.1

^[1],[5]

37.9

45.7

^[1],[5]

(0.2)

0.4

^[1],[3],[5]

0.4

0.3

^[1],[4],[5]

1.7

1.4

^[1],[5]

(2.6)

2.1

^[1],[5]

171.4

149.8

Expenditures for long-lived assets including royalty advances

^[1],[5]

65.4

64.0

^[1],[5]

1.8

1.3

Media, Licensing and Advertising [Member]

^[1],[5]

90.0

79.7

^[1],[2]

14.4

10.5

^[1],[2]

0.0

^[1],[2],[3]

0.1

^[1],[2],[4]

0.5

1.5

^[1],[2]

0.0

(4.6)

^[1],[2]

41.5

40.6

Expenditures for long-lived assets including royalty advances

^[1],[2]

5.4

^[1],[2]

2.0

1.9

^[1],[2]

13.1

20.2

^[1],[6]

^[1],[6]

^[1],[3],[6]

10.3

9.2

^[1],[4],[6]

^[1],[6]

(17.3)

(19.2)

^[1],[6]

441.4

396.6

Expenditures for long-lived assets including royalty advances

^[1],[6]

^[1],[6]

7.5

5.0

^[1],[6]

244.0

244.6

Total Domestic [Member]

203.4

230.3

(0.1)

0.7

^[3]

14.9

13.6

^[4]

11.2

(50.3)

(33.1)

1,400.3

1,279.3

Expenditures for long-lived assets including royalty advances

147.8

145.6

34.6

21.7

International Segment [Member]

620.5

614.1

^[1],[7]

90.2

87.7

^[1],[7]

0.6

0.7

^[1],[3],[7]

1.2

1.5

^[1],[4],[7]

0.6

0.7

^[1],[7]

2.8

(0.1)

^[1],[7]

315.5

270.2

Expenditures for long-lived assets including royalty advances

^[1],[7]

9.9

8.6

^[1],[7]

2.4

2.3

^[1],[7]

68.8

71.0

293.6

318.0

0.5

1.4

^[3]

16.1

15.1

^[4]

11.8

11.9

(47.5)

(33.2)

1,715.8

1,549.5

Expenditures for long-lived assets including royalty advances

157.7

154.2

$ 157.7

$ 154.2

37.0

24.0

$ 689.3

$ 685.1

[1]	As discussed under "Discontinued Operations" in Note 1, "Basis of Presentation," the Company closed or sold several operations during fiscal 2009, fiscal 2010 and the first quarter of fiscal 2012 and presently holds for sale one facility. All of these businesses are classified as discontinued operations in the Company's financial statements and, as such, are not reflected in this table.
[2]	As discussed under "Segment" in Note 1, a business previously reported in the Media, Licensing and Advertising segment is now included in the Children's Book Publishing and Distribution segment.
[3]	Includes depreciation of property, plant and equipment and amortization of intangible assets.
[4]	Includes amortization of prepublication and production costs.
[5]	Includes assets and results of operations acquired in a business acquisition as of February 8, 2012.
[6]	Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets. Unallocated assets are principally comprised of deferred income taxes and property, plant and equipment related to the Company's headquarters in the metropolitan New York area, its fulfillment and distribution facilities located in Missouri and its facility located in Connecticut. Overhead also includes amounts previously allocated to the Media, Licensing and Advertising segment for the Company's direct-to-home toy catalog business that was discontinued in the first quarter of fiscal 2012.
[7]	Includes assets and results of operations acquired in a business acquisition as of January 3, 2012.

Debt (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Debt (Detail) - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2008	May 31, 2003
Term Loan [Member]
Credit Facility Sanctioned		$ 200.0
Unsecured Debt [Member]
Line of Credit, Current	$ 20.0
Secured Debt [Member]
Line of Credit, Current	$ 33.8
Revolving Loan [Member]
Credit Facility Sanctioned During Period		325.0
Additional Credit Facility Sanctioned		150.0
Federal Funds Rate [Member]
Line of Credit Facility, Interest Rate During Period	0.50%
Eurodollar Rate [Member]
Line of Credit Facility, Interest Rate Description	Eurodollar Rate for a one month interest period plus 1% plus an applicable spread ranging from 0.18% to 0.60%
Line Of Credit Facility Eurodollar Rate Advances	1.18%
LIBOR Rate [Member]
Line of Credit Facility, Interest Rate Description	London interbank offered rate (LIBOR) plus an applicable spread ranging from 1.18% to 1.60%
Notes Payable, Other Payables [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Standby Letter Of Credit [Member]
Line of Credit Facility, Amount Outstanding	$ 6.6
Loan Agreement [Member]
Line of Credit Facility, Amount Outstanding	$ 1.4
Credit Facility Sanctioned During Period		$ 525.0
Line Of Credit Facility Base Rate Advances	0.18%
Line of Credit Facility, Commitment Fee Percentage Range Minimum	0.20%
Line of Credit Facility Fee Percentage Range Maximum	0.40%
Line Of Credit Facility Fee Percentage	0.20%
Notes Payable, Noncurrent, Value			$ 175.0

Debt (Detail) - Schedule of debt - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Line of Credit [Member]
Debt Long Term And Short Term Outstanding	$ 0.6	$ 6.5	$ 7.9
Debt Long Term And Short Term Outstanding	0.6	6.5	7.9
Term Loan [Member]
Debt Long Term And Short Term Outstanding			39.5
Debt Long Term And Short Term Outstanding			39.5
Notes Due 2013 [Member]
Debt Long Term And Short Term Outstanding	152.8	152.8	152.6
Debt Long Term And Short Term Outstanding	153.6	155.4	153.0
Debt Long Term And Short Term Outstanding	153.4	159.3	200.0
Debt Long Term And Short Term Outstanding	154.2	161.9	200.4
Less lines of credit, short-term debt and current portion of long-term debt	(0.6)	(6.5)	(47.4)
Less lines of credit, short-term debt and current portion of long-term debt	(0.6)	(6.5)	(47.4)
Total long-term debt	152.8	152.8	152.6
Total long-term debt	$ 153.6	$ 155.4	$ 153.0

Debt (Detail) - Schedule of debt (Parentheticals)	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Line of Credit [Member]
Debt, Weighted Average Interest Rate	4.90%	5.30%	4.00%
Term Loan [Member]
Debt, Weighted Average Interest Rate			1.00%
Notes Due 2013 [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%

Debt (Detail) - Schedule for maturities of the carrying values of the Company's debt obligations - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
2013	$ 0.6
2014	152.8
Total debt	$ 153.4	$ 159.3	$ 200.0

Earnings (Loss) Per Share (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2012	Aug. 31, 2011
Amount Of Losses Excluded In Earnings From Continuing Operations	less than $0.1	less than $0.1
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2.8	4.5
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	5.1	6.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount (in Dollars)	$ 31.4

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Earnings (loss) from continuing operations attributable to Class A and Common Shares (in Dollars)

Earnings (Loss) Per Share (Detail) - Summary of reconciliation of the numerators and denominators for the Basic and Diluted earnings (loss) per share - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

Aug. 31, 2012

Aug. 31, 2011

$ (31.9)

$ (25.0)

Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax (in Dollars)

(0.1)

(2.0)

Net income (loss) attributable to Class A and Common Shares (in Dollars)

$ (32.0)

$ (27.0)

Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) (in Shares)

31.5

31.0

Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) (in Shares)

^[1]

Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) (in Shares)

^[1]

Basic earnings (loss) per share:

Earnings (loss) from discontinued operations, net of tax

$ (1.02)

$ (0.81)

0.00

(0.06)

(1.02)

(0.87)

Diluted earnings (loss) per share:

Earnings (loss) from discontinued operations, net of tax

(1.02)

(0.81)

0.00

(0.06)

$ (1.02)

$ (0.87)

[1]	In the three months ended August 31, 2012 and 2011, the Company experienced a loss from continuing operations and therefore did not report any dilutive share impact.

Goodwill and Other Intangibles (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012
Weekly Reader [Member]
Payments to Acquire Businesses, Net of Cash Acquired			$ 2.0
Business Acquisition, Purchase Price Allocation, Liabilities Assumed			4.8
Business Acquisition, Purchase Price Allocation, Goodwill Amount			1.4
Business Acquisition, Purchase Price Allocation, Amortizable Intangible Assets			5.4
Learners Publishing [Member]
Payments to Acquire Businesses, Net of Cash Acquired			2.8
Business Acquisition, Purchase Price Allocation, Goodwill Amount			1.3
Amortization of Intangible Assets	$ 0.5	$ 0.4
Weighted Average Remaining Useful Lives Of All Amortizable Intangible Assets	9 years
Impairment Of Amortization Expense			$ 4.9

Goodwill and Other Intangibles (Detail) - Schedule of activity in goodwill - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012
Gross beginning balance	$ 178.5	$ 175.0	$ 175.0
Accumulated impairment	(20.8)	(20.8)	(20.8)
Beginning balance	157.7	154.2	154.2
Additions due to acquisition			2.7
Foreign currency translation	0.0	0.0	0.0
Other			0.8
Gross ending balance	178.5	175.0	178.5
Accumulated impairment	(20.8)	(20.8)	(20.8)
Ending balance	$ 157.7	$ 154.2	$ 157.7

Carrying amount as of the balance sheet date, which is the cumulative amount paid and (if applicable) the fair value of any noncontrolling interest in the acquiree, adjusted for any amortization recognized prior to the adoption of any changes in generally accepted accounting principles (as applicable) and for any impairment charges, in excess of the fair value of net assets acquired in one or more business combination transactions.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6388280&loc=d3e13770-109266

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 72
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 142
-Paragraph 45
-Subparagraph e
-Clause 1
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-Subparagraph l
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 34
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Goodwill and Other Intangibles (Detail) - Schedule of other intangible assets subject to amortization - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012
Customer Lists [Member]
Begining balance	$ 4.3	$ 0.7	$ 0.7
Additions due to acquisition	0.1		3.8
Amortization expense	(0.2)	0.0	(0.2)
Foreign currency translation	0.0	0.0	0.0
Total other intangibles subject to amortization	4.2	0.7	4.3
Other Intangible Assets [Member]
Begining balance	10.4	17.3	17.3
Impairment charge			(5.4)
Amortization expense	(0.3)	(0.4)	(1.4)
Other	0.1		(0.1)
Total other intangibles subject to amortization	10.2	16.9	10.4
Begining balance	14.7
Amortization expense	0.5	0.4
Total other intangibles subject to amortization	$ 14.4	$ 17.6	$ 14.7

Goodwill and Other Intangibles (Detail) - Schedule of other intangible assets subject to amortization (Parentheticals) - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Customer Lists [Member]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 1.5	$ 1.3	$ 1.1
Other Intangible Assets [Member]
Finite-Lived Intangible Assets, Accumulated Amortization	$ 10.8	$ 10.5	$ 4.5

Goodwill and Other Intangibles (Detail) - Schedule of other intangible assets not subject to amortization - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Trademarks and Other [Member]
Net carrying value by major class:
Intangibles not subject to amortization	$ 2.0	$ 2.0	$ 1.8
Intangibles not subject to amortization	$ 2.0	$ 2.0	$ 1.8

Investments (Detail) - USD ($) $ in Millions	3 Months Ended
Investments (Detail) - USD ($) $ in Millions	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012
Children's Book Publishing [Member]
Equity Method Investment, Ownership Percentage	26.20%
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	$ 21.2	$ 21.2	$ 20.6
Income (Loss) from Equity Method Investments	$ 0.5	$ 0.4

This item represents the entity's proportionate share for the period of the net income (loss) of its investee (such as unconsolidated subsidiaries and joint ventures) to which the equity method of accounting is applied. This item includes income or expense related to stock-based compensation based on the investor's grant of stock to employees of an equity method investee.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=16385135&loc=d3e33749-111570

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=6943989&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.12)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 9
-Article 5

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 19
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 6
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 11
-Article 7

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 95
-Paragraph 28
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Investments (Detail) - Schedule of cost and equity method investments - USD ($) $ in Millions	Aug. 31, 2012	May 31, 2012	Aug. 31, 2011
Usborne [Member]
Equity method investments:
Equity method investments	$ 15.7	$ 15.4	$ 14.2
Childrens Television Programming Holdings [Member]
Equity method investments:
Equity method investments			1.3
The Book People Ltd [Member]
Cost method investments:
Cost method investments	5.5	5.2	5.7
Cost method investments	5.5	5.2	5.7
Equity method investments:
Equity method investments	15.7	15.4	15.5
Total	$ 21.2	$ 20.6	$ 21.2

This item represents the aggregate carrying amount of all cost-method investments as reported on or included in the balance sheet. The original cost of the investments may differ from the aggregate carrying amount disclosed due to various adjustments such as: (i) dividends received in excess of earnings after the date of investment that are considered a return of investment and therefore recorded as reductions to cost of the investment, or (ii) a series of operating losses of an investee or other factors which may indicate that a decrease in value of the investment has occurred which is other than temporary and accordingly such decrease in value has been recognized.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.12)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6872867&loc=d3e40691-111596

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-SubTopic 20
-Section 35
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6383889&loc=d3e40346-111594

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Principles Board Opinion (APB)
-Number 18
-Paragraph 6
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS115-1/124-1
-Paragraph 18
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 03-1
-Paragraph 22
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Employee Benefit Plans (Detail) $ in Millions	3 Months Ended
Employee Benefit Plans (Detail) $ in Millions	Aug. 31, 2012 USD ($)
United States Pension Plans of US Entity, Defined Benefit [Member]
Defined Benefit Plan Actual Contributions	$ 1.9
UK Pension Plan [Member]
Defined Benefit Plan Actual Contributions	0.5
Expects To Contribute Cash To Pension Plans	$ 10.6

Employee Benefit Plans (Detail) - Schedule of net periodic costs - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2012	Aug. 31, 2011
Pension Plans, Defined Benefit [Member]
Components of net periodic benefit (credit) cost:
Interest cost	$ 1.7	$ 2.1
Expected return on assets	(2.6)	(2.7)
Amortization of loss	0.5	0.3
Net periodic benefit (credit) cost	(0.4)	(0.3)
Other Postretirement Benefit Plans, Defined Benefit [Member]
Components of net periodic benefit (credit) cost:
Service cost	0.0	0.0
Interest cost	0.4	0.5
Net amortization of prior service credit	(0.1)	(0.2)
Amortization of loss	0.9	1.0
Net periodic benefit (credit) cost	$ 1.2	$ 1.3

An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 30
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512136

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 60
-Glossary Expected Return on Plan Assets
-URI http://asc.fasb.org/extlink&oid=6512171

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(3)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time.

The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Service Cost (Component of Net Periodic Pension Cost)
-URI http://asc.fasb.org/extlink&oid=6525008

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)(1)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-URI http://asc.fasb.org/extlink&oid=21915506&loc=d3e1928-114920

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 87
-Paragraph 264
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 132R
-Paragraph 5
-Subparagraph a, h
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 106
-Paragraph 518
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Stock-Based Compensation (Detail) - Schedule of stock-based compensation - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2012	Aug. 31, 2011
Management Stock Purchase Plan Expense [Member]
Stock based compensation expense	$ 0.0	$ 0.0
Employee Stock Purchase Plan Expense [Member]
Stock based compensation expense	0.1	0.0
Stock option expense	1.0	1.5
Restricted stock unit expense	0.9	0.7
Stock based compensation expense	$ 2.0	$ 2.2

Severance and Exit Costs (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
Severance and Exit Costs (Detail) - USD ($) $ in Millions	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012	May 31, 2011
Severance	$ 1.3	$ 3.3	$ 14.9
Accrued Severance Cost	$ 1.1	$ 2.4	$ 2.7	$ 1.9

Severance and Exit Costs (Detail) - Schedule of accrued severance cost associated with cost reduction measures - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2012	Aug. 31, 2011	May 31, 2012
Beginning balance	$ 2.7	$ 1.9	$ 1.9
Accruals	1.3	3.3	14.9
Payments	(2.9)	(2.8)	(14.1)
Ending balance	$ 1.1	$ 2.4	$ 2.7

Treasury Stock (Detail) - Schedule of repurchase of common stock - USD ($) $ in Millions	1 Months Ended	3 Months Ended	10 Months Ended
	Sep. 30, 2010	Aug. 31, 2012	Aug. 31, 2012
September 2010	$ 44.0
Less repurchases made from November 2011 through August 2012			$ (12.6)
Remaining Board authorization at August 31, 2012		$ 31.4

Equity impact of the cost of common and preferred stock that were repurchased during the period. Recorded using the par value method.