Revenues (Tables)

3 Months Ended

Aug. 31, 2026

Revenue from Contract with Customer [Abstract]

The following table presents the Company’s segment revenues disaggregated by region and domestic channel:


	Three months ended
	August 31,		August 31,
	2026		2025
Book Clubs - U.S.	$	2.1	$	1.8
Book Fairs - U.S.		33.2		34.1
Trade - U.S.		63.9		61.2
Trade - International (1)		6.6		12.3
Total Children's Book Publishing and Distribution	$	105.8	$	109.4

Education - U.S.	$	30.4	$	40.1
Total Education	$	30.4	$	40.1

Entertainment - U.S.	$	2.3	$	1.4
Entertainment - International (2)		17.8		12.2
Total Entertainment	$	20.1	$	13.6

International - Major Markets (3)	$	49.5	$	48.9
International - Other Markets (4)		11.0		10.5
Total International	$	60.5	$	59.4

Overhead (5)	$	—	$	3.1
Total Overhead	$	—	$	3.1

Total Revenues	$	216.8	$	225.6

(1) Primarily includes foreign rights and certain product sales in the UK.

(2) Primarily includes production, distribution and licensing revenues in Canada, Ireland and Indonesia.

(3) Includes Canada, UK, Australia and New Zealand.

(4) Primarily includes markets in Asia.

(5) For the three months ended August 31, 2025, Overhead included rental income related to leased space in the Company's headquarters. As a result of the sale-leaseback transactions completed during the third quarter of fiscal 2026, the Company no longer owns the leasable space.

Deferred Revenue, by Arrangement, Disclosure

The following table presents further detail regarding the Company's contract liabilities as of the dates indicated:


	August 31, 2026		May 31, 2026		August 31, 2025
Book fairs incentive credits	$	108.5	$	127.2	$	104.0
Magazines+ subscriptions		12.2		3.6		19.3
U.S. digital subscriptions		6.9		6.6		12.3
U.S. education-related (1)		5.3		5.7		7.0
Entertainment-related (2)		9.7		10.9		12.8
Stored value programs		23.3		22.5		22.8
Other (3)		7.8		5.4		6.5
Total contract liabilities	$	173.7	$	181.9	$	184.7

(1) Primarily relates to contracts with school districts and professional services.

(2) Primarily relates to contracts for film and TV productions and production services.

(3) Primarily relates to contracts for various international products and services.

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 Condensed Consolidated Balance Sheets:


	Allowance for Credit Losses
Balance as of June 1, 2026	$	11.0
Provision (benefit)		0.6
Write-offs and other		(0.7)
Balance as of August 31, 2026	$	10.9