v3.26.1
Revenues (Tables)
 12 Months Ended
May 31, 2026
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table presents the Company’s segment revenues disaggregated by region and domestic channel during the year ended May 31:

202620252024
Book Clubs - U.S.$57.1 $64.2 $62.7 
Book Fairs - U.S.576.0 548.3 541.6 
Trade - U.S. (1)
289.9 304.7 298.7 
Trade - International (2)
41.2 46.7 50.3 
Total Children's Book Publishing and Distribution964.2 963.9 953.3 
Education - U.S.267.6 309.8 351.2 
Total Education267.6 309.8 351.2 
Entertainment - U.S. (1)
8.8 5.2 1.9 
Entertainment - International56.9 55.8 — 
Total Entertainment65.7 61.0 1.9 
International - Major Markets (3)
235.9 241.6 228.6 
International - Other Markets (4)
41.3 38.0 45.0 
Total International277.2 279.6 273.6 
Overhead (5)
7.2 11.2 9.7 
Total Revenues$1,581.9 $1,625.5 $1,589.7 
(1) The Entertainment segment includes the operations of SEI, which were included in the Children’s Book Publishing and Distribution segment in prior periods, and 9 Story. The financial results for SEI for fiscal 2024 have been reclassified to Entertainment to reflect this change.
(2) Primarily includes foreign rights and certain product sales in the UK.
(3) Includes Canada, UK, Australia and New Zealand.
(4) Primarily includes markets in Asia.
(5) Overhead includes rental income related to leased space in the Company's headquarters. As a result of the sale and leaseback transactions completed during the third quarter of fiscal 2026, the Company no longer owns the underlying leasable space. Refer to Note 4, "Sale and Leaseback Transactions", and Note 11, "Leases", for further details.
Deferred Revenue, by Arrangement, Disclosure
The following table presents further detail regarding the Company's contract liabilities balance for the years ended May 31:

20262025
Book fairs incentive credits$127.2 $122.1 
Magazines+ subscriptions3.6 3.9 
U.S. digital subscriptions6.6 11.1 
U.S. education-related (1)
5.7 7.5 
Entertainment-related (2)
10.9 8.2 
Stored value programs22.5 22.4 
Other (3)
5.4 7.8 
Total contract liabilities$181.9 $183.0 
Accounts Receivable, Allowance for Credit Loss
The following table presents the change in the allowance for credit losses, which is included in Accounts Receivable, net on the Consolidated Balance Sheets:
Allowance for Credit Losses
Balance as of June 1, 2025$11.0 
Current period provision6.5 
Write-offs and other (6.5)
Balance as of May 31, 2026
$11.0