v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
12 Months Ended
May 31, 2026
May 31, 2025
May 31, 2024
Cash flows - operating activities:      
Net income (loss) $ 56.7 $ (1.9) $ 12.1
Provision for losses on accounts receivable 6.5 5.0 5.2
Provision for losses on inventory 8.9 16.1 20.4
Provision for losses on royalty advances 6.2 5.7 2.7
Amortization of prepublication costs 21.6 21.9 26.2
Amortization of film and television programs 11.9 9.9 0.0
Depreciation and amortization 71.8 78.5 67.0
Amortization of net actuarial (gain) loss 0.8 0.5 0.4
Deferred income taxes 3.6 (19.7) (1.9)
Stock-based compensation 8.5 9.3 11.0
Income from equity method investments (0.3) (0.5) (0.5)
Loss on sale of investments 17.2 0.0 0.0
Asset impairments and write downs 10.9 2.9 10.0
Gain on sale and leaseback transactions (99.7) 0.0 0.0
Accounts receivable 31.4 (26.7) 38.2
Inventories (22.5) (2.8) 50.9
Income tax receivable (19.6) 6.8 (6.3)
Tax credit receivable 1.6 10.6 0.0
Prepaid expenses and other current assets 7.4 4.1 (1.7)
Investment in film and television programs (12.1) (12.5) 0.0
Royalty advances 7.6 (25.8) (3.4)
Employee benefit plan contribution (8.6) 0.0 0.0
Accounts payable (13.8) 15.5 (32.5)
Accrued royalties (19.4) 13.3 (4.5)
Deferred revenue (0.1) 7.5 (8.1)
Other accrued expenses (10.5) (1.5) (10.3)
Accrued income taxes 1.0 1.7 (11.5)
Other, net (16.1) 6.3 (8.8)
Net cash provided by (used in) operating activities 50.9 124.2 154.6
Cash flows - investing activities:      
Prepublication expenditures (17.9) (24.5) (22.8)
Additions to property, plant and equipment (48.4) (52.2) (58.4)
Net proceeds from sale and leaseback transactions 452.4 0.0 0.0
Proceeds from Sale of Equity Method Investments 19.4 0.0 0.0
Proceeds from equity method investment, distribution, return of capital 0.3 0.0 0.0
Acquisition-related payments 0.0 (176.2) (6.4)
Purchase of noncontrolling interests 0.0 0.0 (2.1)
Net cash provided by (used in) investing activities 405.8 (252.9) (89.7)
Cash flows - financing activities:      
Borrowings under lines of credit, credit agreement and revolving loan 234.3 305.9 54.1
Repayments of lines of credit, credit agreement and revolving loan (409.8) (57.4) (54.1)
Borrowings under film related obligations 17.5 16.5 0.0
Repayments of film related obligations (including interests) (18.5) (34.8) 0.0
Repayment of capital lease obligations (2.1) (1.7) (2.3)
Reacquisition of common stock (265.9) (70.0) (158.2)
Proceeds pursuant to stock-based compensation plans 18.6 1.2 9.1
Payment of dividends (20.0) (22.6) (24.7)
Other, net (0.1) 0.2 0.0
Net cash provided by (used in) financing activities (446.0) 137.3 (176.1)
Effect of exchange rate changes on cash and cash equivalents 0.2 1.7 0.4
Net increase (decrease) in cash and cash equivalents 10.9 10.3 (110.8)
Cash and cash equivalents at beginning of period 124.0 113.7 224.5
Cash and cash equivalents at end of period 134.9 124.0 113.7
Cash paid for income taxes, net of refunds 43.4 2.0 23.7
Cash paid for interest $ 15.2 $ 18.3 $ 2.2