Goodwill and Other Intangibles

12 Months Ended

May 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

The Company assesses goodwill and other intangible assets with indefinite lives for impairment annually or more frequently if indicators arise. The Company monitors 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 fiscal years ended May 31:


	2026		2025
Gross beginning balance	$	238.5	$	172.4
Accumulated impairment		(39.6)		(39.6)
Beginning balance	$	198.9	$	132.8
Additions		—		64.2

Foreign currency translation		0.5		1.9

Gross ending balance		239.0		238.5
Accumulated impairment		(39.6)		(39.6)
Ending balance	$	199.4	$	198.9

In fiscal 2025, the Company completed the 9 Story acquisition which resulted in the recognition of $64.2 of Goodwill included in the Entertainment segment. Refer to Note 12, "Acquisitions", for further details regarding the acquisition.

There were no impairment charges related to Goodwill in any of the periods presented.

The following table presents Goodwill by segment as of May 31:


	2026		2025
Children's Book Publishing and Distribution	$	47.4	$	47.4
Education		75.7		75.7
Entertainment		66.2		65.7
International		10.1		10.1
Total	$	199.4	$	198.9

The following table summarizes the activity in other intangibles included in Other intangible assets, net on the Company’s Financial Statements for the fiscal years ended May 31:


	2026		2025
Other intangibles subject to amortization - beginning balance	$	85.8	$	8.2
Additions		—		85.3

Amortization expense		(11.3)		(11.2)
Foreign currency translation		1.3		3.5


Total other intangibles subject to amortization, net of accumulated amortization of $61.6 and $50.3, respectively	$	75.8	$	85.8

Total other intangibles not subject to amortization		2.1		2.1
Total other intangibles	$	77.9	$	87.9

During fiscal 2025, the Company completed the 9 Story acquisition which resulted in the recognition of $85.3 of amortizable intangible assets. Refer to Note 12, "Acquisitions", for further details regarding the acquisition.

Amortization expense for Other intangibles totaled $11.3, $11.2 and $2.6 for the fiscal years ended May 31, 2026, 2025 and 2024, respectively.

The following table reflects the estimated amortization expense for intangibles for future fiscal years ending May 31:


2027	$	11.3
2028		10.8
2029		10.7
2030		9.0
2031		8.9
Thereafter		25.1

Intangible assets with indefinite lives consist principally of trademark and trade name rights. Intangible assets with definite lives consist principally of customer lists, customer contracts/relationships, intellectual property, trade names and internally developed software. 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 7.5 years.