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Document And Entity Information	3 Months Ended
Document And Entity Information	Aug. 31, 2016 shares
Document Information [Line Items]
Entity Registrant Name	SCHOLASTIC CORP
Document Type	10-Q
Current Fiscal Year End Date	--05-31
Amendment Flag	false
Entity Central Index Key	0000866729
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Well-known Seasoned Issuer	Yes
Document Period End Date	Aug. 31, 2016
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	1,656,200
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding	32,857,621

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Income Statement [Abstract]
Revenues	$ 282.7	$ 191.2
Operating costs and expenses:
Cost of goods sold	169.7	114.5
Selling, general and administrative expenses (exclusive of depreciation and amortization)	166.6	145.7
Depreciation and amortization	9.5	10.5
Total operating costs and expenses	345.8	270.7
Operating income (loss)	(63.1)	(79.5)
Interest income (expense), net	(0.3)	(0.1)
Earnings (loss) from continuing operations before income taxes	(63.4)	(79.6)
Provision (benefit) for income taxes	(23.9)	(30.7)
Earnings (loss) from continuing operations	(39.5)	(48.9)
Earnings (loss) from discontinued operations, net of tax	(0.1)	(0.5)
Net income (loss)	$ (39.6)	$ (49.4)
Basic:
Earnings (loss) from continuing operations (in Dollars per share)	$ (1.15)	$ (1.46)
Earnings (loss) from discontinued operations, net of tax (in Dollars per share)	0.00	(0.02)
Net income (loss) (in Dollars per share)	(1.15)	(1.48)
Diluted:
Earnings (loss) from continuing operations (in Dollars per share)	(1.15)	(1.46)
Earnings (loss) from discontinued operations, net of tax (in Dollars per share)	0.00	(0.02)
Net income (loss) (in Dollars per share)	(1.15)	(1.48)
Dividends declared per class A and common share (in Dollars per share)	$ 0.15	$ 0.15

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (39.6)	$ (49.4)
Other comprehensive income (loss), net:
Foreign currency translation adjustments	(1.9)	(7.3)
Pension and post-retirement adjustments (net of tax)	0.7	0.7
Total other comprehensive income (loss)	(1.2)	(6.6)
Comprehensive income (loss)	$ (40.8)	$ (56.0)

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Current Assets:
Cash and cash equivalents	$ 287.6	$ 399.7	$ 250.3
Restricted cash held in escrow	5.0	9.9	32.0
Accounts receivable, net	222.6	196.3	148.0
Inventories, net	375.7	271.2	367.0
Deferred income taxes			81.1
Prepaid expenses and other current assets	117.9	72.5	121.1
Current assets of discontinued operations	0.5	0.5	0.9
Total current assets	1,009.3	950.1	1,000.4
Property, plant and equipment, net	438.7	437.6	434.0
Prepublication costs	42.6	41.8	50.6
Royalty advances, net	45.3	44.0	40.0
Goodwill	116.3	116.2	116.2
Other intangibles	6.3	6.8	6.8
Noncurrent deferred income taxes	69.0	68.5	5.9
Other assets and deferred charges	47.7	48.1	53.1
Total noncurrent assets	765.9	763.0	706.6
Total assets	1,775.2	1,713.1	1,707.0
Current Liabilities:
Lines of credit, short-term debt and current portion of long-term debt	12.1	6.3	5.7
Accounts payable	203.6	138.2	224.3
Accrued royalties	66.3	31.6	39.8
Deferred revenue	45.2	23.5	42.1
Other accrued expenses	151.6	175.9	140.1
Accrued income taxes	2.0	1.6	3.6
Current liabilities of discontinued operations	0.3	1.2	3.0
Total current liabilities	481.1	378.3	458.6
Noncurrent Liabilities:
Other noncurrent liabilities	75.5	77.2	68.9
Total noncurrent liabilities	75.5	77.2	68.9
Commitments and Contingencies	0.0	0.0	0.0
Stockholders’ Equity:
Preferred Stock, $1.00 par value	0.0	0.0	0.0
Common Stock, value	0.4	0.4	0.4
Additional paid-in capital	601.7	600.7	598.7
Accumulated other comprehensive income (loss)	(87.9)	(86.7)	(83.6)
Retained earnings	1,015.0	1,059.8	985.4
Treasury stock at cost	(310.6)	(316.6)	(321.4)
Total stockholders’ equity	1,218.6	1,257.6	1,179.5
Total liabilities and stockholders’ equity	1,775.2	1,713.1	1,707.0
Common Class A
Stockholders’ Equity:
Common Stock, value	$ 0.0	$ 0.0	$ 0.0

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Preferred stock par value per share (in Dollars per share)	$ 1	$ 1	$ 1
Common Stock, par value per share (in Dollars per share)	0.01	0.01	0.01
Common Class A
Common Stock, par value per share (in Dollars per share)	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Cash flows - operating activities:
Net income (loss)	$ (39.6)	$ (49.4)
Earnings (loss) from discontinued operations, net of tax	(0.1)	(0.5)
Earnings (loss) from continuing operations	(39.5)	(48.9)
Adjustments to reconcile earnings from continuing operations to net cash provided by (used in) operating activities of continuing operations:
Provision for losses on accounts receivable	2.9	1.5
Provision for losses on inventory	4.1	4.0
Provision for losses on royalty advances	1.1	0.9
Amortization of prepublication and production costs	5.8	6.8
Depreciation and amortization	9.6	10.6
Amortization of pension and post-retirement actuarial gains and losses	1.0	1.0
Deferred income taxes	(0.3)	0.1
Stock-based compensation	1.6	1.4
Income from equity investments	(1.8)	(1.2)
Changes in assets and liabilities:
Accounts receivable	(29.3)	40.5
Inventories	(108.8)	(116.4)
Other current assets	(42.7)	(71.6)
Deferred promotion costs	(6.7)	(6.5)
Royalty advances	(2.5)	(1.8)
Accounts payable	69.7	52.2
Other accrued expenses	(24.3)	(31.6)
Accrued income taxes	0.4	(151.3)
Accrued royalties	34.9	13.3
Deferred revenue	21.7	20.9
Pension and post-retirement liability	(1.6)	(1.3)
Other noncurrent liability	(0.1)	(0.2)
Other, net	0.3	(4.7)
Total adjustments	(65.0)	(233.4)
Net cash provided by (used in) operating activities of continuing operations	(104.5)	(282.3)
Net cash provided by (used in) operating activities of discontinued operations	(1.0)	(9.4)
Net cash provided by (used in) operating activities	(105.5)	(291.7)
Cash flows - investing activities:
Prepublication and production expenditures	(6.7)	(5.9)
Additions to property, plant and equipment	(10.2)	(5.6)
Other investment and acquisition related payments	(0.4)	(0.5)
Net cash provided by (used in) investing activities of continuing operations	(17.3)	(12.0)
Changes in restricted cash held in escrow for discontinued assets	4.9	2.5
Net cash provided by (used in) investing activities	(12.4)	(9.5)
Cash flows - financing activities:
Borrowings under lines of credit	12.4	9.0
Repayment of lines of credit	(5.9)	(9.3)
Repayment of capital lease obligations	(0.3)	(0.1)
Proceeds pursuant to stock-based compensation plans	5.2	30.1
Payment of dividends	(5.2)	(5.0)
Net collections (remittances) under transition services agreement	0.2	16.7
Other	(0.6)	3.9
Net cash provided by (used in) financing activities of continuing operations	5.8	45.3
Effect of exchange rate changes on cash and cash equivalents	0.0	(0.6)
Net increase (decrease) in cash and cash equivalents	(112.1)	(256.5)
Cash and cash equivalents at beginning of period	399.7	506.8
Cash and cash equivalents at end of period	$ 287.6	$ 250.3

Basis of Presentation

3 Months Ended

Aug. 31, 2016

Accounting Policies [Abstract]

Basis of Presentation

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, comprehensive income (loss) 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, 2016 (the “Annual Report”).

The Company’s fiscal year is not a calendar year. Accordingly, references in this document to fiscal 2016 relate to the twelve-month period ended May 31, 2016. Certain reclassifications have been made to conform to the current year presentation.

Seasonality

The Company’s Children’s Book Publishing and Distribution school-based book fair and book club channels and most of its Education businesses 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 channel and magazine revenues are minimal in the first quarter of the fiscal year as schools are not in session. Trade sales can vary through the year due to varying release dates of published titles. 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 reserves for returns


•	Accounts receivable allowance for doubtful accounts


•	Pension and other post-retirement obligations


•	Uncertain tax positions


•	Inventory reserves


•	Cost of goods sold from book fair operations during interim periods determined based on estimated gross profit rates


•	Sales taxes


•	Royalty advance reserves


•	Customer reward programs


•	Impairment testing for goodwill for assessment and measurement, intangibles and other long-lived assets and investments


•	Assets and liabilities acquired in business combinations.

New Accounting Pronouncements

ASU 2016-15

In August 2016, the Financial Accounting Standards Board (the "FASB") issued Accounting Standards Update (the "ASU") 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (A Consensus of the FASB Emerging Issues Task Force). This ASU provides amendments to specific statement of cash flows classification issues.

The ASU will be effective for the Company in the first quarter of fiscal 2019. The Company is evaluating the impact of this ASU on its consolidated financial position, results of operations and cash flows.

ASU 2016-13

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326). This ASU introduces amendments to the accounting for credit losses on instruments defined within the ASU's scope and will impact both financial services and non-financial services entities. Due to its broad scope, which includes trade and lease receivables, this ASU states that it is likely that all entities will need to evaluate the impact of its amendments. Under the amendments, an entity will recognize, as an allowance, its estimate of expected credit losses, which the FASB believes will result in more timely recognition of such losses. The ASU does not prescribe a specific method to make the estimate so its application will require significant judgment. This ASU is effective for fiscal years beginning after December 15, 2019, and interim periods within those fiscal years. Early adoption will be permitted for all entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years.

The ASU will be effective for the Company in the first quarter of fiscal 2021. The Company is evaluating the impact of this ASU on its consolidated financial position, results of operations and cash flows.

ASU 2016-09

In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this ASU require, among other things, that all income tax effects of awards be recognized in the income statement when the awards vest or are settled. The ASU also allows for an employer to repurchase more of an employee's shares than it currently can for tax withholding purposes without triggering liability accounting and allows for a policy election to account for forfeitures as they occur. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. Early adoption is permitted for any entity in any interim or annual period.

The ASU will be effective for the Company in the first quarter of fiscal 2018. The Company is evaluating the impact of this ASU on its consolidated financial position, results of operations and cash flows.

ASU 2016-02

In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842). The amendments in this ASU require, among other things, lessees to recognize a right-of-use asset and a lease liability in the balance sheet for all leases. The lease liability will be measured at the present value of the lease payments over the lease term and the right-of-use asset will be measured at the lease liability amount, adjusted for lease prepayments, lease incentives received and lessee's initial direct costs (e.g., commissions). The amendments in this ASU will take effect for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Earlier application is permitted as of the beginning of an interim or annual reporting period.

The ASU will be effective for the Company in the first quarter of fiscal 2020. The Company is evaluating the impact of this ASU on its consolidated financial position, results of operations and cash flows.

ASU 2015-16

In September 2015, the FASB issued ASU 2015-16, Business Combinations (Topic 805): Simplifying the Accounting for Measurement-Period Adjustments. The amendments in this ASU eliminate the requirement under the current guidance that an acquirer retrospectively adjust provisional amounts recognized in a business combination during the measurement period. The measurement period is up to one year from the date of the acquisition. The ASU requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined, and that the acquirer records, in the same period's financial statements, the effect on earnings of changes in depreciation, amortization, or other income effects, if any, as a result of the change to the provisional amounts, calculated as if the accounting had been completed at the acquisition date. The financial statements should also separately present on the face of the income statement, or disclose in the footnotes, the amount of adjustments recorded in the current period by line item that would have been recorded in prior periods had the adjustment been made at the date of acquisition. The amendments in this ASU are effective for fiscal years beginning after December 15, 2015, including interim periods within those fiscal years, and should be applied prospectively to provisional amount adjustments that occur after the effective date. Earlier application is permitted as of the beginning of an interim or fiscal year period.

The Company adopted this ASU in the first quarter of fiscal 2017. The adoption of this guidance did not have a material impact on the Company’s consolidated financial position, results of operations and cash flows.

ASU 2015-11

In July 2015, the FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory, as part of its Simplification Initiative. Currently, inventory is measured at the lower of cost or market. The amendments in this ASU require entities that measure inventory using any method other than last-in, first-out or the retail inventory method to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business less reasonably predictable costs of completion, disposal and transportation. The amendments in this ASU are effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years. The amendments should be applied prospectively and earlier application is permitted as of the beginning of an interim or fiscal year period.

Topic 606, Revenue from Contracts with Customers

In May 2014, the FASB announced that it is amending the FASB Accounting Standards Codification ("ASC") by issuing ASU 2014-09, Topic 606, Revenue from Contracts with Customers (the "New Revenue Standard"). The amendments in this ASU provide a single model for use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance. The core principle of the new ASU is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. New disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers are also required. In August 2015, the FASB issued ASU 2015-14 which deferred the effective date of the New Revenue Standard. In 2016, the FASB issued ASU 2016-08, ASU 2016-10, ASU 2016-11, and ASU 2016-12 to clarify, among other things, the implementation guidance related to principal versus agent considerations, identifying performance obligations, and accounting for licenses of intellectual property. The New Revenue Standard is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Early application is not permitted. The amendments in this update are to be applied on a retrospective basis, either to each prior reporting period presented or by presenting the cumulative effect of applying the update recognized at the date of initial application.

The New Revenue Standard will be effective for the Company in the first quarter of fiscal 2019. The Company is evaluating the adoption methodology and the impact of this ASU on its consolidated financial position, results of operations and cash flows.

Discontinued Operations

3 Months Ended

Aug. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

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

During the three month period ended August 31, 2016, the Company did not dispose any new components of the business that would meet the criteria for discontinued operations reporting.

On May 29, 2015, the Company completed the sale of substantially all of the assets comprising its former educational technology and services (“Ed Tech”) business and categorized this business as a discontinued operation. In connection with the sale of the Ed Tech business to the purchaser, the Company entered into a transition services agreement whereby the Company provided administrative, distribution and other services to the purchaser. Transition service fees under this agreement were recorded as a reduction to Selling, general and administrative expenses. All services under the transition services agreement were terminated on August 1, 2016.

As of August 31, 2016, the Company had adequately fulfilled all service requirements and $4.9 had been released from Restricted cash held in escrow in accordance with a related escrow agreement between the purchaser and the Company. $5.0 of the remainder of the escrow is subject to release barring any disputes for breaches of representations and warranties within the next 3 months. The remaining escrow amount is presented as Restricted cash held in escrow on the Consolidated Balance Sheets.

The following table summarizes the operating results of the discontinued operations:



	Three months ended
	August 31,			August 31,
	2016			2015
Revenues	$	0.1		$	0.1
Operating costs and expenses	0.3			1.0
Interest income (expense)	0.0			0.0
Earnings (loss) before income taxes	$	(0.2	)	$	(0.9	)
Provision (benefit) for income taxes	(0.1		)	(0.4		)
Earnings (loss) from discontinued operations, net of tax	$	(0.1	)	$	(0.5	)

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



	August 31, 2016		May 31, 2016		August 31, 2015
Accounts receivable, net	$	0.0	$	0.0	$	0.4
Inventories, net	—		—		0.1
Prepaid expenses and other current assets	0.5		0.5		0.4
Current assets of discontinued operations	$	0.5	$	0.5	$	0.9

Accounts payable	0.0		0.0		0.1
Accrued royalties	0.0		0.0		0.7
Deferred revenue	—		—		0.1
Other accrued expenses	0.3		1.2		2.1
Current liabilities of discontinued operations	$	0.3	$	1.2	$	3.0

As of August 31, 2016, May 31, 2016 and August 31, 2015, assets and liabilities of discontinued operations primarily related to insignificant continuing cash flows from passive activities.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
-Topic 205
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-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

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+ Details

Segment Information

3 Months Ended

Aug. 31, 2016

Segment Reporting [Abstract]

Segment Information

SEGMENT INFORMATION

The Company categorizes its businesses into three reportable segments: Children’s Book Publishing and Distribution; Education; 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, ebooks, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel. This segment is comprised of three operating segments.


•	Education 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.


•	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 three operating segments.



	Children’s Book Publishing & Distribution			Education			Overhead⁽¹⁾			Total Domestic			International			Total
Three months ended August 31, 2016
Revenues	$	137.8		$	55.2		$	—		$	193.0		$	89.7		$	282.7
Bad debt	1.3			(0.1		)	—			1.2			1.7			2.9
Depreciation and amortization ⁽²⁾	5.6			2.0			5.7			13.3			2.0			15.3
Segment operating income (loss)	(36.2		)	(4.4		)	(26.4		)	(67.0		)	3.9			(63.1		)
Segment assets at 8/31/16	534.5			167.1			807.2			1,508.8			265.9			1,774.7
Goodwill at 8/31/16	40.9			65.4			—			106.3			10.0			116.3
Expenditures for long-lived assets including royalty advances	25.9			2.6			8.5			37.0			2.8			39.8
Long-lived assets at 8/31/16	144.6			83.1			382.1			609.8			65.1			674.9
Three months ended August 31, 2015
Revenues	$	67.7		$	50.4		$	—		$	118.1		$	73.1		$	191.2
Bad debt	0.4			(0.0		)	—			0.4			1.1			1.5
Depreciation and amortization ⁽²⁾	7.2			3.3			4.8			15.3			2.0			17.3
Segment operating income (loss)	(56.0		)	(4.3		)	(16.5		)	(76.8		)	(2.7		)	(79.5		)
Segment assets at 8/31/15	465.6			169.2			821.7			1,456.5			249.6			1,706.1
Goodwill at 8/31/15	40.9			65.4			—			106.3			9.9			116.2
Expenditures for long-lived assets including royalty advances	9.8			1.7			4.7			16.2			2.0			18.2
Long-lived assets at 8/31/15	136.6			90.5			380.2			607.3			67.9			$	675.2

(1)

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.


(2)	Includes depreciation of property, plant and equipment and amortization of intangible assets and prepublication and production costs.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599

+ Details

Debt

3 Months Ended

Aug. 31, 2016

Debt Disclosure [Abstract]

Debt

DEBT

The following table summarizes the carrying value of the Company's debt as of the dates indicated:



	August 31, 2016		May 31, 2016		August 31, 2015
Loan Agreement:
Revolving Loan (interest rates of n/a)	$	—	$	—	$	—
Unsecured short term lines of credit (weighted average interest rates of 4.1%, 4.4% and 3.5%, respectively)	12.1		6.3		5.7
Total debt	$	12.1	$	6.3	$	5.7

The fair value of the Company's debt approximates the carrying value for all periods presented.

The following table sets forth the maturities of the Company’s debt obligations as of August 31, 2016, for the twelve-month periods ending August 31,



2017	$	12.1
2018	—
2019	—
2020	—
2021 and thereafter	—
Total debt	$	12.1

Loan Agreement

Scholastic Corporation and Scholastic Inc. (each, a “Borrower” and together, the “Borrowers”) are parties to a $425.0 credit facility with certain banks (as amended, the “Loan Agreement”), which allows the Company to borrow, repay or prepay and reborrow at any time prior to the December 5, 2017 maturity date. Under the Loan Agreement, interest on amounts borrowed thereunder 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 Loan Agreement 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, in each case, 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, 2016, 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.

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, 2016, the facility fee rate was 0.20%.

As of August 31, 2016, the Company had no outstanding borrowings under the Loan Agreement. At August 31, 2016, the Company had open standby letters of credit totaling $0.4 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, 2016, the Company was in compliance with these covenants.

Lines of Credit

As of August 31, 2016, the Company had domestic unsecured money market bid rate credit lines totaling $25.0. There were no outstanding borrowings under these credit lines at August 31, 2016, May 31, 2016 or August 31, 2015. At August 31, 2016, the Company had open standby letters of credit totaling $4.9 under the domestic unsecured money market bid rate credit lines. As of August 31, 2016, availability under these unsecured money market bid rate credit lines totaled $20.1. 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, 2016, the Company had equivalent local currency credit lines totaling $22.7. Outstanding borrowings under these lines of credit totaled $12.1, $6.3 and $5.7 at August 31, 2016, May 31, 2016 and August 31, 2015, respectively. As of August 31, 2016, the equivalent amounts available totaled $10.6, underwritten by banks primarily in the United States, Canada 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.

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Aug. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	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.

Earnings (Loss) Per Share

3 Months Ended

Aug. 31, 2016

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

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, 2016 and August 31, 2015, respectively:



	Three months ended
	August 31,			August 31,
	2016			2015
Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(39.5	)	$	(48.9	)
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax	(0.1		)	(0.5		)
Net income (loss) attributable to Class A and Common Shares	$	(39.6	)	$	(49.4	)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)	34.4			33.4
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	$	(1.15	)	$	(1.46	)
Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.02	)
Net income (loss)	$	(1.15	)	$	(1.48	)
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations	$	(1.15	)	$	(1.46	)
Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.02	)
Net income (loss)	$	(1.15	)	$	(1.48	)

* In each of the three month periods ended August 31, 2016 and 2015, the Company experienced a loss from continuing operations and therefore did not report any dilutive share impact.

The following table sets forth Options outstanding pursuant to stock-based compensation plans as of the dates indicated:



	August 31, 2016	August 31, 2015
Options outstanding pursuant to stock-based compensation plans (in millions)	2.8	3.1

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. There were no potentially dilutive shares outstanding pursuant to compensation plans for the three month ended August 31, 2016.

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 lower of the Two-class method or the Treasury Stock method. Since, under the Two-class method, losses are not allocated to the participating securities, in periods of loss the Two-class method is not applicable.

As of August 31, 2016, $45.5 remained available for future purchases of common shares under the current repurchase authorization of the Board of Directors (the "Board"). See Note 11, “Treasury Stock,” for a more complete description of the Company’s share buy-back program.

Goodwill and Other Intangibles

3 Months Ended

Aug. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

GOODWILL AND OTHER INTANGIBLES

The Company assesses goodwill and other intangible assets with indefinite lives annually or more frequently if impairment indicators are such that the goodwill is more likely than not impaired. The Company continues to monitor impairment indicators in light of changes in market conditions, near and long-term demand for the Company’s products and other relevant factors.

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



	Three months ended August 31, 2016		Twelve months ended May 31, 2016			Three months ended August 31, 2015
Beginning balance	$	116.2	$	116.3		$	116.3
Foreign currency translation	0.1		(0.1		)	(0.1		)
Total goodwill	$	116.3	$	116.2		$	116.2

Accumulated goodwill impairment losses totaled $39.6 as of August 31, 2016, May 31, 2016 and August 31, 2015. There were no goodwill impairment losses during the three months ended August 31, 2016 and 2015, respectively.

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



	Three months ended August 31, 2016			Twelve months ended May 31, 2016			Three months ended August 31, 2015
Beginning balance - Other intangibles subject to amortization	$	4.7		$	4.7		$	4.7
Additions	0.2			2.4			0.5
Amortization expense	(0.6		)	(2.2		)	(0.5		)
Foreign currency translation	(0.1		)	(0.2		)	(0.0		)
Total other intangibles subject to amortization, net of accumulated amortization of $20.1, $19.5 and $17.8, respectively	$	4.2		$	4.7		$	4.7
Total other intangibles not subject to amortization	$	2.1		$	2.1		$	2.1
Total other intangibles	$	6.3		$	6.8		$	6.8

In the current fiscal quarter, the Company purchased a U.S. based book fair business resulting in the recognition of $0.2 of amortizable intangible assets. In fiscal 2016, the Company purchased a U.S. based book fair business and a UK based book fair business resulting in the Company recognizing $0.5 and $1.9 of amortizable intangible assets, respectively. These transactions were not determined to be material to the Company's results and therefore pro forma financial information was not presented.

Amortization expense for Total other intangibles was $0.6 and $0.5 for the three months ended August 31, 2016 and August 31, 2015, respectively. Intangible assets with definite lives consist principally of customer lists, trademark and tradename rights and other agreements. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is approximately 3.5 years.

- Definition

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.

+ References + Details

Investments	3 Months Ended
Investments	Aug. 31, 2016
Equity Method And Cost Method Investments [Abstract]
Investments	INVESTMENTS Included in “Other assets and deferred charges” on the Company’s condensed consolidated balance sheets were investments of $25.5, $26.2 and $27.6 at August 31, 2016, May 31, 2016 and August 31, 2015, respectively. The Company's 48.5% equity interest in Make Believe Ideas Limited (MBI), a UK-based children's book publishing company, is accounted for using the equity method of accounting. Under the purchase agreement, and subject to its provisions, the Company will purchase the remaining outstanding shares in MBI following the completion of MBI's accounts for the calendar year 2018. The remaining controlling interest is held by a single third party and therefore the Company accounted for the investment using the equity method of accounting. The net carrying value of this investment was $7.8, $8.0 and $7.8 at August 31, 2016, May 31, 2016 and August 31, 2015, respectively. The Company’s 26.2% non-controlling interest in another children’s book publishing business located in the UK is accounted for using the equity method of accounting. The net carrying value of this investment was $17.7, $18.1 and $18.7 at August 31, 2016, May 31, 2016 and August 31, 2015, respectively. The Company has other equity and cost method investments that had a net carrying value of $0.0, $0.1 and $1.1 at August 31, 2016, May 31, 2016 and August 31, 2015, respectively. Income from equity investments reported in "Selling, general and administrative expenses" in the condensed consolidated Statements of Operations totaled $1.8 and $1.2 for the three months ended August 31, 2016 and August 31, 2015, respectively.

Employee Benefit Plans

3 Months Ended

Aug. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

The following table sets forth components of the net periodic cost (credit) 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						Post-Retirement Benefits
	Three months ended						Three months ended
	August 31,			August 31,			August 31,		August 31,
	2016			2015			2016		2015
Components of net periodic cost (credit):
Service cost	$	—		$	—		$	0.0	$	0.0
Interest cost	1.1			1.5			0.3		0.3
Expected return on assets	(1.8		)	(1.9		)	—		—
Net amortization of prior service credit	—			—			—		(0.0		)
Amortization of (gain) loss	0.4			0.4			0.6		0.6
Net periodic cost (credit)	$	(0.3	)	$	0.0		$	0.9	$	0.9

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, 2016, the Company made no contribution to the U.S. Pension Plan and contributed $0.3 to the UK Pension Plan.

The Company expects, based on actuarial calculations, to contribute cash of approximately $1.3 to the Pension Plans for the fiscal year ending May 31, 2017.

In the current fiscal year, the U.S. Pension Plan's funding status is sufficient to allow participants to receive "lump sum" payments at the participant's request. Under certain circumstances, such lump sum payments must be accounted for as a settlement of the related pension obligation when paid. If these requests exceed $3.2 in the current fiscal year, the Company will recognize a settlement charge related to net unrecognized pension benefit costs in respect of the lump sum benefit payments made. For the three months ended August 31, 2016, the Company made $0.7 of lump sum benefit payments to vested plan participants.

On July 20, 2016, the Board approved the termination of the U.S. Pension Plan, in which all benefit accruals were previously frozen as of June 1, 2009. Based on the Plan’s current funded status and the frozen benefit, it was determined that the on-going costs of maintaining the Plan were growing at a greater rate than the benefit delivered to the Company’s employees and former employees. An application will be filed with the IRS for an advance determination as to whether the Plan meets the qualification requirements of Internal Revenue Code section 401(a). Upon approval of the IRS and the Pension Benefit Guaranty Corporation, the assets of the Plan will be distributed either via a lump sum payment to each deferred vested participant or to another qualified retirement plan established on the participant's behalf, or via an annuity contract underwritten by an insurance company. All participants currently receiving a periodic benefit will continue to receive their benefit payments without disruption. The Company expects that the process for terminating the pension plan, which involves several regulatory steps and approvals, will take 18 to 24 months.

Stock-Based Compensation

3 Months Ended

Aug. 31, 2016

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

Stock-Based Compensation

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,		August 31,
	2016		2015
Stock option expense	$	0.8	$	0.7
Restricted stock unit expense	0.7		0.6
Management stock purchase plan	0.0		0.0
Employee stock purchase plan	0.1		0.1
Total stock-based compensation expense	$	1.6	$	1.4

During the three month periods ended August 31, 2016 and August 31, 2015, respectively, 0.2 million and 1.0 million shares of Common Stock were issued by the Corporation pursuant to its stock-based compensation plans.

- Definition

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.

+ References + Details

Treasury Stock

3 Months Ended

Aug. 31, 2016

Stockholders' Equity Attributable to Parent [Abstract]

Treasury Stock

TREASURY STOCK

The Board 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:



	Amount
Additional authorization July 2015	50.0
Less repurchases made under the authorizations as of August 31, 2016	(4.5		)
Remaining Board authorization at August 31, 2016	$	45.5

On July 22, 2015, the Board authorized an additional $50.0 for the share buy-back program, to be funded with available cash. There were no repurchases of Common Stock made during the three months ended August 31, 2016. The Company’s repurchase program may be suspended at any time without prior notice.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Aug. 31, 2016

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following tables summarize the activity in Accumulated other comprehensive income (loss), net of tax, by component for the periods indicated:



	Three months ended August 31, 2016
	Foreign currency translation adjustments			Retirement benefit plans			Total
Beginning balance	$	(40.0	)	$	(46.7	)	$	(86.7	)
Other comprehensive income (loss) before reclassifications	(1.9		)	—			$	(1.9	)
Less: amount reclassified from Accumulated other comprehensive income (loss)	—			0.7			0.7
Other comprehensive income (loss)	(1.9		)	0.7			(1.2		)
Ending balance	$	(41.9	)	$	(46.0	)	$	(87.9	)



	Three months ended August 31, 2015
	Foreign currency translation adjustments			Retirement benefit plans			Total
Beginning balance	$	(31.9	)	$	(45.1	)	$	(77.0	)
Other comprehensive income (loss) before reclassifications	(7.3		)	—			$	(7.3	)
Less: amount reclassified from Accumulated other comprehensive income (loss)	—			0.7			0.7
Other comprehensive income (loss)	(7.3		)	0.7			(6.6		)
Ending balance	$	(39.2	)	$	(44.4	)	$	(83.6	)

The following table presents the impact on earnings of reclassifications out of Accumulated other comprehensive income (loss) for the periods indicated:



	Three months ended						Affected line items in the condensed consolidated statements of operations
	August 31,			August 31,
	2016			2015
Employee benefit plans:
Amortization of prior service cost (credit)	$	—		$	(0.0	)	Selling, general and administrative
Amortization of unrecognized gain (loss) included in net periodic cost (credit)	1.0			1.0			Selling, general and administrative
Less: Tax effect	(0.3		)	(0.3		)	Income tax expense (benefit)
Total expense, net of tax	$	0.7		$	0.7

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section S99
-Paragraph 4
-Subparagraph (SAB Topic 4.E)
-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74567-122707

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 3: 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(29))
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-Name Accounting Standards Codification
-Glossary Preferred Stock
-URI http://asc.fasb.org/extlink&oid=6521494

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+ Details

Fair Value Measurements

3 Months Ended

Aug. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Disclosures

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



	○	Quoted prices for similar assets or liabilities in active markets
	○	Quoted prices for identical or similar assets or liabilities in inactive markets
	○	Inputs other than quoted prices that are observable for the asset or liability
	○	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 various lines of credit. The fair value of the Company's debt approximates the carrying value for all periods presented. 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

Level 2 and level 3 inputs are employed by the Company in the fair value measurement of these assets and liabilities. For the fair value measurements employed by the Company for goodwill see Note 7, “Goodwill and Other Intangibles." For the fair value measurements employed by the Company for certain property, plant and equipment, production assets, investments and prepublication assets, the Company assesses future expected cash flows attributable to these assets.

- Definition

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.

+ References + Details

Income Taxes and Other Taxes	3 Months Ended
Income Taxes and Other Taxes	Aug. 31, 2016
Income Tax And Non Income Tax Disclosure [Abstract]
Income Taxes and Other Taxes	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, exclusive of discrete items, unbenefitted foreign losses, and release of associated valuation allowances, used to calculate the interim tax provision is expected to be approximately 39.6%. The interim effective tax rate, inclusive of discrete items, was 37.7% for the three month period ended August 31, 2016. The Company, 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 Company 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 the fiscal year ended May 31, 2014. The Company is currently under audit by New York City for fiscal years ended May 31, 2008, 2009 and 2010. 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. The Company assesses sales tax contingencies for each jurisdiction in which it operates, considering all relevant facts including statutes, regulations, case law and experience. When a sales tax liability with respect to a particular jurisdiction 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. Future developments relating to the foregoing could result in adjustments being made to these accruals.

Derivatives and Hedging	3 Months Ended
Derivatives and Hedging	Aug. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	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 Selling, general and administrative expenses in the condensed consolidated statements of operations, and it recognizes the unrealized gain or loss in other current assets or current liabilities. The notional values of the contracts as of August 31, 2016 and August 31, 2015 were $30.8 and $16.2, respectively. Unrealized losses of $0.8 and unrealized gains of $1.1 were recognized at August 31, 2016 and August 31, 2015, respectively, for the three month periods then ended.

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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+ Details

Other Accrued Expenses

3 Months Ended

Aug. 31, 2016

Other Accrued Expenses Disclosure [Abstract]

Other Accrued Expenses

OTHER ACCRUED EXPENSES

Other accrued expenses consist of the following as of the dates indicated:



	August 31, 2016		May 31, 2016		August 31, 2015
Accrued payroll, payroll taxes and benefits	$	42.9	$	44.9	$	41.2
Accrued bonus and commissions	13.1		28.2		10.9
Accrued other taxes	25.4		30.4		21.6
Accrued advertising and promotions	31.9		35.7		29.8
Accrued insurance	8.0		7.7		7.8
Other accrued expenses	30.3		29.0		28.8
Total accrued expenses	$	151.6	$	175.9	$	140.1

Subsequent Events	3 Months Ended
Subsequent Events	Aug. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS The Company’s Board of Directors declared a quarterly cash dividend of $0.15 per share on the Company’s Class A and Common Stock for the second quarter of fiscal 2017. The dividend is payable on December 15, 2016 to shareholders of record as of the close of business on October 31, 2016.

Basis of Presentation (Policies)

3 Months Ended

Aug. 31, 2016

Accounting Policies [Abstract]

Principles of consolidation

Seasonality

Use of estimates


•	Accounts receivable reserves for returns


•	Accounts receivable allowance for doubtful accounts


•	Pension and other post-retirement obligations


•	Uncertain tax positions


•	Inventory reserves


•	Cost of goods sold from book fair operations during interim periods determined based on estimated gross profit rates


•	Sales taxes


•	Royalty advance reserves


•	Customer reward programs


•	Impairment testing for goodwill for assessment and measurement, intangibles and other long-lived assets and investments


•	Assets and liabilities acquired in business combinations.

New Accounting Pronouncements

ASU 2016-15

ASU 2016-13

ASU 2016-09

ASU 2016-02

ASU 2015-16

ASU 2015-11

Topic 606, Revenue from Contracts with Customers

Discontinued Operations (Tables)

3 Months Ended

Aug. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Schedule of revenue, assets, and liabilities of discontinued operations

The following table summarizes the operating results of the discontinued operations:



	Three months ended
	August 31,			August 31,
	2016			2015
Revenues	$	0.1		$	0.1
Operating costs and expenses	0.3			1.0
Interest income (expense)	0.0			0.0
Earnings (loss) before income taxes	$	(0.2	)	$	(0.9	)
Provision (benefit) for income taxes	(0.1		)	(0.4		)
Earnings (loss) from discontinued operations, net of tax	$	(0.1	)	$	(0.5	)

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



	August 31, 2016		May 31, 2016		August 31, 2015
Accounts receivable, net	$	0.0	$	0.0	$	0.4
Inventories, net	—		—		0.1
Prepaid expenses and other current assets	0.5		0.5		0.4
Current assets of discontinued operations	$	0.5	$	0.5	$	0.9

Accounts payable	0.0		0.0		0.1
Accrued royalties	0.0		0.0		0.7
Deferred revenue	—		—		0.1
Other accrued expenses	0.3		1.2		2.1
Current liabilities of discontinued operations	$	0.3	$	1.2	$	3.0

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Segment Information (Tables)

3 Months Ended

Aug. 31, 2016

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment



	Children’s Book Publishing & Distribution			Education			Overhead⁽¹⁾			Total Domestic			International			Total
Three months ended August 31, 2016
Revenues	$	137.8		$	55.2		$	—		$	193.0		$	89.7		$	282.7
Bad debt	1.3			(0.1		)	—			1.2			1.7			2.9
Depreciation and amortization ⁽²⁾	5.6			2.0			5.7			13.3			2.0			15.3
Segment operating income (loss)	(36.2		)	(4.4		)	(26.4		)	(67.0		)	3.9			(63.1		)
Segment assets at 8/31/16	534.5			167.1			807.2			1,508.8			265.9			1,774.7
Goodwill at 8/31/16	40.9			65.4			—			106.3			10.0			116.3
Expenditures for long-lived assets including royalty advances	25.9			2.6			8.5			37.0			2.8			39.8
Long-lived assets at 8/31/16	144.6			83.1			382.1			609.8			65.1			674.9
Three months ended August 31, 2015
Revenues	$	67.7		$	50.4		$	—		$	118.1		$	73.1		$	191.2
Bad debt	0.4			(0.0		)	—			0.4			1.1			1.5
Depreciation and amortization ⁽²⁾	7.2			3.3			4.8			15.3			2.0			17.3
Segment operating income (loss)	(56.0		)	(4.3		)	(16.5		)	(76.8		)	(2.7		)	(79.5		)
Segment assets at 8/31/15	465.6			169.2			821.7			1,456.5			249.6			1,706.1
Goodwill at 8/31/15	40.9			65.4			—			106.3			9.9			116.2
Expenditures for long-lived assets including royalty advances	9.8			1.7			4.7			16.2			2.0			18.2
Long-lived assets at 8/31/15	136.6			90.5			380.2			607.3			67.9			$	675.2

(1)


(2)	Includes depreciation of property, plant and equipment and amortization of intangible assets and prepublication and production costs.

Debt (Tables)

3 Months Ended

Aug. 31, 2016

Debt Disclosure [Abstract]

Schedule of Debt

The following table summarizes the carrying value of the Company's debt as of the dates indicated:



	August 31, 2016		May 31, 2016		August 31, 2015
Loan Agreement:
Revolving Loan (interest rates of n/a)	$	—	$	—	$	—
Unsecured short term lines of credit (weighted average interest rates of 4.1%, 4.4% and 3.5%, respectively)	12.1		6.3		5.7
Total debt	$	12.1	$	6.3	$	5.7

Schedule of Maturities of Short-term Debt

The following table sets forth the maturities of the Company’s debt obligations as of August 31, 2016, for the twelve-month periods ending August 31,



2017	$	12.1
2018	—
2019	—
2020	—
2021 and thereafter	—
Total debt	$	12.1

Earnings (Loss) Per Share (Tables)

3 Months Ended

Aug. 31, 2016

Earnings Per Share [Abstract]

Schedule of basic and diluted earnings per share



	Three months ended
	August 31,			August 31,
	2016			2015
Earnings (loss) from continuing operations attributable to Class A and Common Shares	$	(39.5	)	$	(48.9	)
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax	(0.1		)	(0.5		)
Net income (loss) attributable to Class A and Common Shares	$	(39.6	)	$	(49.4	)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)	34.4			33.4
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	$	(1.15	)	$	(1.46	)
Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.02	)
Net income (loss)	$	(1.15	)	$	(1.48	)
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations	$	(1.15	)	$	(1.46	)
Earnings (loss) from discontinued operations, net of tax	$	(0.00	)	$	(0.02	)
Net income (loss)	$	(1.15	)	$	(1.48	)

Schedule of stock option activity

The following table sets forth Options outstanding pursuant to stock-based compensation plans as of the dates indicated:



	August 31, 2016	August 31, 2015
Options outstanding pursuant to stock-based compensation plans (in millions)	2.8	3.1

Goodwill and Other Intangibles (Tables)

3 Months Ended

Aug. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Activity in Goodwill for the Periods Indicated

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



	Three months ended August 31, 2016		Twelve months ended May 31, 2016			Three months ended August 31, 2015
Beginning balance	$	116.2	$	116.3		$	116.3
Foreign currency translation	0.1		(0.1		)	(0.1		)
Total goodwill	$	116.3	$	116.2		$	116.2

Summary of Activity in Total Other Intangibles for the Periods Indicated

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



	Three months ended August 31, 2016			Twelve months ended May 31, 2016			Three months ended August 31, 2015
Beginning balance - Other intangibles subject to amortization	$	4.7		$	4.7		$	4.7
Additions	0.2			2.4			0.5
Amortization expense	(0.6		)	(2.2		)	(0.5		)
Foreign currency translation	(0.1		)	(0.2		)	(0.0		)
Total other intangibles subject to amortization, net of accumulated amortization of $20.1, $19.5 and $17.8, respectively	$	4.2		$	4.7		$	4.7
Total other intangibles not subject to amortization	$	2.1		$	2.1		$	2.1
Total other intangibles	$	6.3		$	6.8		$	6.8

Employee Benefit Plans (Tables)

3 Months Ended

Aug. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule of Net Benefit Costs



	Pension Plans						Post-Retirement Benefits
	Three months ended						Three months ended
	August 31,			August 31,			August 31,		August 31,
	2016			2015			2016		2015
Components of net periodic cost (credit):
Service cost	$	—		$	—		$	0.0	$	0.0
Interest cost	1.1			1.5			0.3		0.3
Expected return on assets	(1.8		)	(1.9		)	—		—
Net amortization of prior service credit	—			—			—		(0.0		)
Amortization of (gain) loss	0.4			0.4			0.6		0.6
Net periodic cost (credit)	$	(0.3	)	$	0.0		$	0.9	$	0.9

Stock-Based Compensation (Tables)

3 Months Ended

Aug. 31, 2016

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

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

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



	Three months ended
	August 31,		August 31,
	2016		2015
Stock option expense	$	0.8	$	0.7
Restricted stock unit expense	0.7		0.6
Management stock purchase plan	0.0		0.0
Employee stock purchase plan	0.1		0.1
Total stock-based compensation expense	$	1.6	$	1.4

Treasury Stock (Tables)

3 Months Ended

Aug. 31, 2016

Stockholders' Equity Attributable to Parent [Abstract]

Tabular Disclosure of an Entity's Treasury Stock

The Board 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:



	Amount
Additional authorization July 2015	50.0
Less repurchases made under the authorizations as of August 31, 2016	(4.5		)
Remaining Board authorization at August 31, 2016	$	45.5

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Aug. 31, 2016

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following tables summarize the activity in Accumulated other comprehensive income (loss), net of tax, by component for the periods indicated:



	Three months ended August 31, 2016
	Foreign currency translation adjustments			Retirement benefit plans			Total
Beginning balance	$	(40.0	)	$	(46.7	)	$	(86.7	)
Other comprehensive income (loss) before reclassifications	(1.9		)	—			$	(1.9	)
Less: amount reclassified from Accumulated other comprehensive income (loss)	—			0.7			0.7
Other comprehensive income (loss)	(1.9		)	0.7			(1.2		)
Ending balance	$	(41.9	)	$	(46.0	)	$	(87.9	)



	Three months ended August 31, 2015
	Foreign currency translation adjustments			Retirement benefit plans			Total
Beginning balance	$	(31.9	)	$	(45.1	)	$	(77.0	)
Other comprehensive income (loss) before reclassifications	(7.3		)	—			$	(7.3	)
Less: amount reclassified from Accumulated other comprehensive income (loss)	—			0.7			0.7
Other comprehensive income (loss)	(7.3		)	0.7			(6.6		)
Ending balance	$	(39.2	)	$	(44.4	)	$	(83.6	)

Reclassification out of Accumulated Other Comprehensive Income

The following table presents the impact on earnings of reclassifications out of Accumulated other comprehensive income (loss) for the periods indicated:



	Three months ended						Affected line items in the condensed consolidated statements of operations
	August 31,			August 31,
	2016			2015
Employee benefit plans:
Amortization of prior service cost (credit)	$	—		$	(0.0	)	Selling, general and administrative
Amortization of unrecognized gain (loss) included in net periodic cost (credit)	1.0			1.0			Selling, general and administrative
Less: Tax effect	(0.3		)	(0.3		)	Income tax expense (benefit)
Total expense, net of tax	$	0.7		$	0.7

Other Accrued Expenses (Tables)

3 Months Ended

Aug. 31, 2016

Other Accrued Expenses Disclosure [Abstract]

Schedule of Other Accrued Expenses

Other accrued expenses consist of the following as of the dates indicated:



	August 31, 2016		May 31, 2016		August 31, 2015
Accrued payroll, payroll taxes and benefits	$	42.9	$	44.9	$	41.2
Accrued bonus and commissions	13.1		28.2		10.9
Accrued other taxes	25.4		30.4		21.6
Accrued advertising and promotions	31.9		35.7		29.8
Accrued insurance	8.0		7.7		7.8
Other accrued expenses	30.3		29.0		28.8
Total accrued expenses	$	151.6	$	175.9	$	140.1

Discontinued Operations - Additional Information (Details) - Discontinued Operations - Ed Tech $ in Millions	3 Months Ended
	Aug. 31, 2016 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration released from escrow	$ 4.9
Restricted cash to be released barring breach of representations	$ 5.0

Discontinued Operations - Revenues (Details) - Discontinued Operations - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues	$ 0.1	$ 0.1
Operating costs and expenses	0.3	1.0
Interest income (expense)	0.0	0.0
Earnings (loss) before income taxes	(0.2)	(0.9)
Provision (benefit) for income taxes	(0.1)	(0.4)
Earnings (loss) from discontinued operations, net of tax	$ (0.1)	$ (0.5)

- Definition

Amount before tax of income (loss) from a discontinued operation. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount of tax expense (benefit) related to a discontinued operation. Includes, but is not limited to, tax expense (benefit) related to income (loss) from operations during the phase-out period, tax expense (benefit) related to gain (loss) on disposal, tax expense (benefit) related to gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and tax expense (benefit) related to adjustments of a prior period gain (loss) on disposal.

+ References + Details

- Definition

Amount after tax of income (loss) from a discontinued operation including the portion attributable to the noncontrolling interest. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal.

+ References + Details

Discontinued Operations - Assets and Liabilities (Details) - USD ($) $ in Millions	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Current assets of discontinued operations	$ 0.5	$ 0.5	$ 0.9
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Current liabilities of discontinued operations	0.3	1.2	3.0
Discontinued Operations
Disposal Group, Including Discontinued Operation, Assets, Current [Abstract]
Accounts receivable, net	0.0	0.0	0.4
Inventories, net	0.0	0.0	0.1
Prepaid expenses and other current assets	0.5	0.5	0.4
Current assets of discontinued operations	0.5	0.5	0.9
Disposal Group, Including Discontinued Operation, Liabilities, Current [Abstract]
Accounts payable	0.0	0.0	0.1
Accrued royalties	0.0	0.0	0.7
Deferred revenue	0.0	0.0	0.1
Other accrued expenses	0.3	1.2	2.1
Current liabilities of discontinued operations	$ 0.3	$ 1.2	$ 3.0

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

3 Months Ended

Aug. 31, 2016

USD ($)

segment

Aug. 31, 2015

USD ($)

May 31, 2016

USD ($)

May 31, 2015

USD ($)

Segment Reporting Information [Line Items]

Number of reportable segments | segment

Revenues

$ 282.7

$ 191.2

Bad debt expense

2.9

1.5

Depreciation and amortization

15.3

^[1]

17.3

^[2]

Segment operating income (loss)

(63.1)

(79.5)

Segment assets

1,774.7

1,706.1

Goodwill

116.3

116.2

$ 116.2

$ 116.3

Expenditures for long-lived assets including royalty advances

39.8

18.2

Long-lived assets

$ 674.9

675.2

Children's Book Publishing and Distribution

Segment Reporting Information [Line Items]

Number of operating segments | segment

Revenues

$ 137.8

67.7

Bad debt expense

1.3

0.4

Depreciation and amortization

5.6

^[1]

7.2

^[2]

Segment operating income (loss)

(36.2)

(56.0)

Segment assets

534.5

465.6

Goodwill

40.9

Expenditures for long-lived assets including royalty advances

25.9

9.8

Long-lived assets

$ 144.6

136.6

Education

Segment Reporting Information [Line Items]

Number of operating segments | segment

Revenues

$ 55.2

50.4

Bad debt expense

(0.1)

0.0

Depreciation and amortization

2.0

^[1]

3.3

^[2]

Segment operating income (loss)

(4.4)

(4.3)

Segment assets

167.1

169.2

Goodwill

65.4

Expenditures for long-lived assets including royalty advances

2.6

1.7

Long-lived assets

83.1

90.5

Overhead

Segment Reporting Information [Line Items]

Revenues

^[2]

0.0

Bad debt expense

^[2]

0.0

Depreciation and amortization

^[1],[2]

5.7

4.8

Segment operating income (loss)

^[2]

(26.4)

(16.5)

Segment assets

^[2]

807.2

821.7

Goodwill

^[2]

0.0

Expenditures for long-lived assets including royalty advances

^[2]

8.5

4.7

Long-lived assets

^[2]

382.1

380.2

Total Domestic

Segment Reporting Information [Line Items]

Revenues

193.0

118.1

Bad debt expense

1.2

0.4

Depreciation and amortization

13.3

^[1]

15.3

^[2]

Segment operating income (loss)

(67.0)

(76.8)

Segment assets

1,508.8

1,456.5

Goodwill

106.3

Expenditures for long-lived assets including royalty advances

37.0

16.2

Long-lived assets

$ 609.8

607.3

International

Segment Reporting Information [Line Items]

Number of operating segments | segment

Revenues

$ 89.7

73.1

Bad debt expense

1.7

1.1

Depreciation and amortization

2.0

^[1]

2.0

^[2]

Segment operating income (loss)

3.9

(2.7)

Segment assets

265.9

249.6

Goodwill

10.0

9.9

Expenditures for long-lived assets including royalty advances

2.8

2.0

Long-lived assets

$ 65.1

$ 67.9

[1]

Includes depreciation of property, plant and equipment and amortization of intangible assets and prepublication and production costs.

[2]

Debt (Details) - USD ($)	3 Months Ended
Debt (Details) - USD ($)	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Debt (Details) [Line Items]
Debt	$ 12,100,000	$ 6,300,000	$ 5,700,000
Loan Agreement
Debt (Details) [Line Items]
Borrowing capacity	$ 425,000,000
Expiration date	Dec. 05, 2017
Facility fee (percentage)	0.20%
Standby letters of credit	$ 400,000
Minimum \| Loan Agreement
Debt (Details) [Line Items]
Facility fee (percentage)	0.20%
Maximum \| Loan Agreement
Debt (Details) [Line Items]
Facility fee (percentage)	0.40%
Loan Agreement \| Federal Funds Rate
Debt (Details) [Line Items]
Variable rate (percentage)	0.50%
Loan Agreement \| Eurodollar
Debt (Details) [Line Items]
Variable rate (percentage)	1.00%
Loan Agreement \| Eurodollar \| Minimum
Debt (Details) [Line Items]
Variable rate (percentage)	0.18%
Loan Agreement \| Base Rate \| Minimum
Debt (Details) [Line Items]
Variable rate (percentage)	0.18%
Loan Agreement \| Base Rate \| Maximum
Debt (Details) [Line Items]
Variable rate (percentage)	0.60%
Loan Agreement \| London Interbank Offered Rate (LIBOR) \| Minimum
Debt (Details) [Line Items]
Variable rate (percentage)	1.18%
Loan Agreement \| London Interbank Offered Rate (LIBOR) \| Maximum
Debt (Details) [Line Items]
Variable rate (percentage)	1.60%
Unsecured Debt \| Domestic Line of Credit
Debt (Details) [Line Items]
Borrowing capacity	$ 25,000,000
Outstanding debt	$ 0	0	0
Expiration period (in days)	365 days
Standby letters of credit	$ 4,900,000
Remaining borrowing capacity	20,100,000
Unsecured Debt \| Foreign Line of Credit
Debt (Details) [Line Items]
Borrowing capacity	22,700,000
Available credit	$ 10,600,000
Expiration period (in days)	364 days
Unsecured Debt \| Foreign Line of Credit \| Line of Credit
Debt (Details) [Line Items]
Debt	$ 12,100,000	$ 6,300,000	$ 5,700,000

Debt (Details) - Schedule of debt - USD ($) $ in Millions	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Debt (Details) - Schedule of debt [Line Items]
Short-term debt	$ 12.1
Total Debt	12.1	$ 6.3	$ 5.7
Line of Credit
Debt (Details) - Schedule of debt [Line Items]
Short-term debt	$ 12.1	$ 6.3	$ 5.7
Weighted average interest rate (percentage)	4.10%	4.40%	3.50%
Revolving Credit Facility
Debt (Details) - Schedule of debt [Line Items]
Long-term debt	$ 0.0	$ 0.0	$ 0.0
Interest rate (percent)	0.00%	0.00%	0.00%

Debt (Details) - Schedule of Maturities of Long-term Debt $ in Millions	Aug. 31, 2016 USD ($)
Long-term Debt, Rolling Maturity [Abstract]
2017	$ 12.1
2018	0.0
2019	0.0
2020	0.0
2021 and thereafter	0.0
Total Debt	$ 12.1

Earnings (Loss) Per Share (Details) - Schedule of Earnings Per Share, Basic and Diluted - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Earnings Per Share, Basic and Diluted [Abstract]
Earnings (loss) from continuing operations attributable to Class A and Common Shares	$ (39.5)	$ (48.9)
Earnings (loss) from discontinued operations attributable to Class A and Common Shares, net of tax	(0.1)	(0.5)
Net income (loss) attributable to Class A and Common Shares	$ (39.6)	$ (49.4)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions)	34.4	33.4
Basic earnings (loss) per share:
Earnings (loss) from continuing operations (in Dollars per share)	$ (1.15)	$ (1.46)
Earnings (loss) from discontinued operations, net of tax (in Dollars per share)	0.00	(0.02)
Net income (loss) (in Dollars per share)	(1.15)	(1.48)
Diluted earnings (loss) per share:
Earnings (loss) from continuing operations (in Dollars per share)	(1.15)	(1.46)
Earnings (loss) from discontinued operations, net of tax (in Dollars per share)	0.00	(0.02)
Net income (loss) (in Dollars per share)	$ (1.15)	$ (1.48)

Earnings (Loss) Per Share (Details) - Schedule of Options Outstanding - shares shares in Millions	Aug. 31, 2016	Aug. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding pursuant to stock-based compensation plans (in millions)	2.8	3.1

Earnings (Loss) Per Share (Details) $ in Millions	Aug. 31, 2016 USD ($)
Earnings Per Share [Abstract]
Remaining authorized stock repurchase amount	$ 45.5

Goodwill and Other Intangibles (Details) - Schedule of activity in goodwill - USD ($)	3 Months Ended		12 Months Ended
	Aug. 31, 2016	Aug. 31, 2015	May 31, 2016
Goodwill [Roll Forward]
Beginning balance	$ 116,200,000	$ 116,300,000	$ 116,300,000
Foreign currency translation	100,000	(100,000)	(100,000)
Ending balance	116,300,000	116,200,000	116,200,000
Accumulated goodwill impairment	$ 39,600,000.0	$ 39,600,000	$ 39,600,000

Goodwill and Other Intangibles (Details) - Schedule of other intangible assets subject to amortization - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2016	Aug. 31, 2015	May 31, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated amortization	$ 20.1	$ 17.8	$ 19.5
Finite-lived Intangible Assets [Roll Forward]
Beginning balance - Other intangibles subject to amortization	4.7	4.7	4.7
Additions	0.2	0.5	2.4
Amortization expense	(0.6)	(0.5)	(2.2)
Foreign currency translation	(0.1)	0.0	(0.2)
Total other intangibles subject to amortization, net of accumulated amortization of $20.1, $19.5 and $17.8, respectively	4.2	4.7	4.7
Total other intangibles not subject to amortization	2.1	2.1	2.1
Total other intangibles	$ 6.3	$ 6.8	$ 6.8

Goodwill and Other Intangibles (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2016	Aug. 31, 2015	May 31, 2016
Goodwill and Other Intangibles (Details) [Line Items]
Amortizable intangible assets acquired	$ 0.2	$ 0.5	$ 2.4
Amortization expense	$ 0.6	0.5	2.2
Useful life	3 years 6 months
Finite-Lived Intangible Assets
Goodwill and Other Intangibles (Details) [Line Items]
Amortization expense	$ 0.6	$ 0.5
U.S. Based Book Fair Business \| Finite-Lived Intangible Assets
Goodwill and Other Intangibles (Details) [Line Items]
Amortizable intangible assets acquired	$ 0.2		0.5
U.K. Based Book Fair Business \| Finite-Lived Intangible Assets
Goodwill and Other Intangibles (Details) [Line Items]
Amortizable intangible assets acquired			$ 1.9

Investments (Details) - USD ($) $ in Millions	3 Months Ended
Investments (Details) - USD ($) $ in Millions	Aug. 31, 2016	Aug. 31, 2015	May 31, 2016	Mar. 19, 2015
Investments (Details) [Line Items]
Investments	$ 25.5	$ 27.6	$ 26.2
Income from equity method investments	1.8	1.2
Make Believe Ideas Limited (MBI)
Investments (Details) [Line Items]
Percentage of interests acquired				48.50%
Equity method investment	7.8	7.8	8.0
Children's Book Publishing and Distribution
Investments (Details) [Line Items]
Equity method investment	$ 17.7	18.7	18.1
Equity method ownership percentage	26.20%
Other Investments
Investments (Details) [Line Items]
Investments	$ 0.0	$ 1.1	$ 0.1

Employee Benefit Plans (Details) - Schedule of net periodic costs - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Components of net periodic benefit (credit) cost:
Amortization of (gain) loss	$ 1.0	$ 1.0
Pension Plans
Components of net periodic benefit (credit) cost:
Service cost	0.0	0.0
Interest cost	1.1	1.5
Expected return on assets	(1.8)	(1.9)
Net amortization of prior service credit	0.0	0.0
Amortization of (gain) loss	0.4	0.4
Net periodic benefit (credit) cost	(0.3)	0.0
Post-Retirement Benefits
Components of net periodic benefit (credit) cost:
Service cost	0.0	0.0
Interest cost	0.3	0.3
Expected return on assets	0.0	0.0
Net amortization of prior service credit	0.0	0.0
Amortization of (gain) loss	0.6	0.6
Net periodic benefit (credit) cost	$ 0.9	$ 0.9

Employee Benefit Plans (Details) - USD ($) $ in Millions		3 Months Ended
Employee Benefit Plans (Details) - USD ($) $ in Millions	Jul. 20, 2016	Aug. 31, 2016
United States Pension Plan
Employee Benefit Plans (Details) [Line Items]
Pension contributions		$ 0.0
Minimum threshold to trigger settlement charge		3.2
Lump sum benefit payments made		0.7
United Kingdom Pension Plan
Employee Benefit Plans (Details) [Line Items]
Pension contributions		0.3
Pension Plans
Employee Benefit Plans (Details) [Line Items]
Contributions expected in current fiscal year		$ 1.3
Minimum
Employee Benefit Plans (Details) [Line Items]
Pension plan termination period	18 months
Maximum
Employee Benefit Plans (Details) [Line Items]
Pension plan termination period	24 months

Stock-Based Compensation (Details) - Schedule of stock-based compensation - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 1.6	$ 1.4
Share-based payment awards, options, by number of shares issued from Treasury Stock	200,000.0	1,000,000.0
Employee Stock Expense
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 0.8	$ 0.7
Restricted Stock Unit Expense
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	0.7	0.6
Management Stock Purchase Plan
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	0.0	0.0
Employee Stock Purchase Plan
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 0.1	$ 0.1

Treasury Stock (Details) - Schedule of repurchase of common stock - USD ($) $ in Millions	3 Months Ended	13 Months Ended
	Aug. 31, 2016	Aug. 31, 2016	Jul. 22, 2015
Stockholders' Equity Attributable to Parent [Abstract]
Additional authorization July 2015			$ 50.0
Less repurchases made under the authorizations as of August 31, 2016	$ 0.0	$ (4.5)
Remaining Board authorization at August 31, 2016	$ 45.5	$ 45.5

Treasury Stock (Details) - USD ($) $ in Millions	3 Months Ended	13 Months Ended
Treasury Stock (Details) - USD ($) $ in Millions	Aug. 31, 2016	Aug. 31, 2016	Jul. 22, 2015
Equity, Class of Treasury Stock [Line Items]
Increase in authorized amount of stock to be repurchased			$ 50.0
Treasury stock acquired	$ 0.0	$ 4.5

Accumulated Other Comprehensive Income (Loss) - Schedule of AOCI Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (86.7)	$ (77.0)
Other comprehensive income (loss) before reclassifications	(1.9)	(7.3)
Less: amount reclassified from Accumulated other comprehensive income (loss)	0.7	0.7
Other comprehensive income (loss)	(1.2)	(6.6)
Ending balance	(87.9)	(83.6)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(40.0)	(31.9)
Other comprehensive income (loss) before reclassifications	(1.9)	(7.3)
Less: amount reclassified from Accumulated other comprehensive income (loss)	0.0	0.0
Other comprehensive income (loss)	(1.9)	(7.3)
Ending balance	(41.9)	(39.2)
Retirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(46.7)	(45.1)
Other comprehensive income (loss) before reclassifications	0.0	0.0
Less: amount reclassified from Accumulated other comprehensive income (loss)	0.7	0.7
Other comprehensive income (loss)	0.7	0.7
Ending balance	$ (46.0)	$ (44.4)

Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less: Tax effect	$ 23.9	$ 30.7
Net income (loss)	(39.6)	(49.4)
Amount reclassified from Accumulated other comprehensive income (loss) \| Retirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service cost (credit)	0.0	0.0
Amortization of unrecognized gain (loss) included in net periodic cost (credit)	1.0	1.0
Less: Tax effect	(0.3)	(0.3)
Net income (loss)	$ 0.7	$ 0.7

Income Taxes and Other Taxes (Details)	3 Months Ended
Income Taxes and Other Taxes (Details)	Aug. 31, 2016
Income Tax And Non Income Tax Disclosure [Abstract]
Annualized effective income tax rate (percentage)	39.60%
Effective income tax rate (percentage)	37.70%

Derivatives and Hedging (Details) - Not Designated as Hedging Instrument - Foreign Exchange Contract - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2016	Aug. 31, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	$ 30.8	$ 16.2
Unrealized gain (loss)	$ 0.8	$ (1.1)

Other Accrued Expenses (Details) - Schedule of accrued expenses - USD ($) $ in Millions	Aug. 31, 2016	May 31, 2016	Aug. 31, 2015
Schedule of accrued expenses [Abstract]
Accrued payroll, payroll taxes and benefits	$ 42.9	$ 44.9	$ 41.2
Accrued bonus and commissions	13.1	28.2	10.9
Accrued other taxes	25.4	30.4	21.6
Accrued advertising and promotions	31.9	35.7	29.8
Accrued insurance	8.0	7.7	7.8
Other accrued expenses	30.3	29.0	28.8
Total accrued expenses	$ 151.6	$ 175.9	$ 140.1

Subsequent Events (Details) - Subsequent Event [Member]	Sep. 01, 2016 $ / shares
Common Class A
Subsequent Event [Line Items]
Dividend declared per share (in Dollars per share)	$ 0.15
Common Stock
Subsequent Event [Line Items]
Dividend declared per share (in Dollars per share)	$ 0.15