v3.25.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 12 Months Ended
Apr. 30, 2025
Apr. 30, 2024
Apr. 30, 2023
Operating activities      
Net income (loss) $ 84,161 $ (200,319) $ 17,233
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Impairment of goodwill 0 108,449 99,800
Net loss (gain) on sale of businesses, assets, and impairment charges related to assets held-for-sale 23,340 183,389 (10,217)
Amortization of intangible assets 51,822 55,994 84,881
Amortization of product development assets 16,610 22,835 32,366
Amortization of cloud computing arrangements 1,081 1,210 807
Depreciation and amortization of technology, property, and equipment 78,694 98,160 96,006
Restructuring and related charges 25,561 63,041 49,389
Stock-based compensation expense 22,222 24,982 26,504
Employee retirement plan expense 31,987 27,844 26,956
Net foreign exchange transaction losses (gains) 8,142 2,959 (894)
Other noncash charges (credits) 13,896 (12,319) (6,319)
Changes in operating assets and liabilities      
Accounts receivable, net 7,951 (22,062) 26,757
Inventories, net (1,419) 5,436 (522)
Accounts payable and accrued royalties 8,112 (38,460) 22,908
Contract liabilities (20,009) (1,332) (36,529)
Restructuring payments (22,333) (38,520) (26,599)
Other accrued liabilities (19,929) 19,274 (48,787)
Employee retirement plan contributions (38,746) (36,887) (45,985)
Operating lease liabilities (22,209) (25,852) (26,919)
Other (46,343) (30,184) (3,765)
Net cash provided by operating activities 202,591 207,638 277,071
Investing activities      
Product development spending (15,228) (17,262) (22,958)
Additions to technology, property, and equipment (61,473) (76,080) (81,155)
Businesses acquired in purchase transactions, net of cash acquired (3,602) (3,116) (7,292)
Net cash (transferred) proceeds related to the sale of businesses and assets (7,642) (1,771) 15,585
Acquisitions of publication rights and other (6,073) (8,414) (2,578)
Net cash used in investing activities (94,018) (106,643) (98,398)
Financing activities      
Repayments of long-term debt (1,186,371) (1,156,939) (1,044,205)
Borrowings of long-term debt 1,199,880 1,184,706 1,005,271
Payment of debt issuance costs 0 0 (4,493)
Purchases of treasury shares (60,421) (45,050) (35,000)
Change in book overdrafts 4,650 (4,472) (4,841)
Cash dividends (76,101) (76,964) (77,298)
Impact of tax withholding on stock-based compensation and other (6,967) (8,502) (8,002)
Net cash used in financing activities (125,330) (107,221) (168,568)
Effects of exchange rate changes on cash, cash equivalents, and restricted cash 3,146 (1,493) (3,570)
Cash reconciliation:      
Cash and cash equivalents 99,441 106,714 100,397
Restricted cash included in Prepaid expenses and other current assets 102 548 330
Balance at beginning of year 99,543 [1] 107,262 [1] 100,727
(Decrease) increase for year (13,611) (7,719) 6,535
Cash and cash equivalents 85,882 99,441 106,714
Restricted cash included in Prepaid expenses and other current assets 50 102 548
Balance at end of year [1] 85,932 99,543 107,262
Cash paid during the year for:      
Interest 51,328 47,101 36,130
Income taxes, net of refunds $ 53,884 $ 50,834 $ 50,891
[1]
The balance as of April 30, 2024, includes held-for-sale cash, cash equivalents and restricted cash. See Note 4, “Acquisitions and Divestitures” for further details.