| SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure |
Schedule II JOHN WILEY & SONS, INC. AND SUBSIDIARIES VALUATION AND QUALIFYING ACCOUNTS FOR THE YEARS ENDED APRIL 30, 2026, 2025, AND 2024 (Dollars in thousands) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Description | | Balance at
Beginning
of Period | | | | Charged to
Expenses | | Deductions From Reserves and Other(1) | | Balance at
End of Period | | Year Ended April 30, 2026 | | | | | | | | | | | Allowance for sales returns(3) | | $ | 8,984 | | | | | $ | 14,197 | | | $ | 16,102 | | | $ | 7,079 | | | Allowance for doubtful accounts | | $ | 13,172 | | | | | $ | 2,478 | | | $ | 1,880 | | | $ | 13,770 | | | Allowance for inventory obsolescence | | $ | 11,122 | | | | | $ | 5,663 | | | $ | 8,120 | | | $ | 8,665 | | Valuation allowance on deferred tax assets(2) | | $ | 77,309 | | | | | $ | (70,027) | | | $ | — | | | $ | 7,282 | | | Year Ended April 30, 2025 | | | | | | | | | | | Allowance for sales returns(3) | | $ | 14,448 | | | | | $ | 12,529 | | | $ | 17,993 | | | $ | 8,984 | | | Allowance for doubtful accounts | | $ | 17,297 | | | | | $ | 839 | | | $ | 4,964 | | | $ | 13,172 | | | Allowance for inventory obsolescence | | $ | 11,919 | | | | | $ | 4,705 | | | $ | 5,502 | | | $ | 11,122 | | Valuation allowance on deferred tax assets(2) | | $ | 53,498 | | | | | $ | 20,816 | | | $ | (2,995) | | | $ | 77,309 | | | Year Ended April 30, 2024 | | | | | | | | | | | Allowance for sales returns(3) | | $ | 14,419 | | | | | $ | 21,158 | | | $ | 21,129 | | | $ | 14,448 | | | Allowance for doubtful accounts | | $ | 18,662 | | | | | $ | 3,844 | | | $ | 5,209 | | | $ | 17,297 | | | Allowance for inventory obsolescence | | $ | 12,990 | | | | | $ | 5,906 | | | $ | 6,977 | | | $ | 11,919 | | Valuation allowance on deferred tax assets(2) | | $ | 27,448 | | | | | $ | 24,620 | | | $ | (1,430) | | | $ | 53,498 | |
| | | | | | (1) | Deductions From Reserves and Other for the years ended April 30, 2026, 2025, and 2024 include foreign exchange translation adjustments. Included in Allowance for doubtful accounts are accounts written off, less recoveries as well as amounts reclassified as held-for-sale or sold as of April 30, 2024. Included in Allowance for inventory obsolescence are items removed from inventory. | (2) | In fiscal year 2024, due to losses in the US resulting from impairments, restructuring, and acceleration of amortization expense on capitalized software, we concluded it was more-likely-than-not that a portion of our deferred tax asset would not be realized. As a result, we established a valuation allowance of $53.5 million. During fiscal year 2025, we increased this valuation allowance to $77.3 million, because of an increase in the US deferred tax assets attributable primarily to interest expense disallowance and intangible and fixed assets. During fiscal year 2026, we released approximately $70.0 million of valuation allowance previously recorded against US deferred tax assets. The valuation allowance release was driven by management's conclusion that it is more likely than not that substantially all US federal and state deferred tax assets will be realized based on the weight of available positive and negative evidence. | (3) | Allowance for sales returns represents anticipated returns net of a recovery of inventory and royalty costs. The provision is reported as a reduction of gross sales to arrive at revenue and the reserve balance is reported as an increase in Contract liabilities with a corresponding increase in Inventories, net and a reduction in Accrued royalties for the years ended April 30, 2026, 2025, and 2024. |
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