Revenue Recognition, Contracts with Customers (Tables)

3 Months Ended

Jul. 31, 2018

Revenue Recognition, Contracts with Customers [Abstract]

Revenue from Contracts With Customers Disaggregated by Segment and Product Type

Revenue from contracts with customers is recognized using a five-step model consisting of the following: (1) identify the contract with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) we satisfy a performance obligation. Performance obligations are satisfied when we transfer control of a good or service to a customer, which can occur over time or at a point in time. The amount of revenue recognized is based on the consideration to which we expect to be entitled in exchange for those goods or services, including the expected value of variable consideration. The customer's ability and intent to pay the transaction price is assessed in determining whether a contract exists with the customer. If collectability of substantially all the consideration in a contract is not probable, consideration received is not recognized as revenue unless the consideration is nonrefundable and we no longer have an obligation to transfer additional goods or services to the customer or collectability becomes probable.

Disaggregation of Revenue

The following table presents our revenue from contracts with customers disaggregated by segment and product type for the three months ended July 31, 2018 and 2017:

	2018								2017
	Research		Publishing		Solutions		Total		Research		Publishing		Solutions		Total
Research:
Journals Subscriptions	$	165,958	$	—	$	—	$	165,958	$	168,325	$	—	$	—	$	168,325
Open Access		10,943		—		—		10,943		8,803		—		—		8,803
Licensing, Reprints, Backfiles and Other		39,488		—		—		39,488		38,230		—		—		38,230
Publishing Technology Services (Atypon)		8,603		—		—		8,603		8,269		—		—		8,269
Publishing:
STM and Professional Publishing		—		66,064		—		66,064		—		63,600		—		63,600
Education Publishing		—		38,231		—		38,231		—		45,736		—		45,736
Course Workflow (WileyPLUS)		—		778		—		778		—		1,210		—		1,210
Test Preparation and Certification		—		11,406		—		11,406		—		11,490		—		11,490
Licensing, Distribution, Advertising and Other		—		8,442		—		8,442		—		9,242		—		9,242
Solutions:
Education Services (OPM)		—		—		29,160		29,160		—		—		26,337		26,337
Professional Assessment		—		—		15,799		15,799		—		—		14,887		14,887
Corporate Learning		—		—		16,029		16,029		—		—		15,315		15,315
Total	$	224,992	$	124,921	$	60,988	$	410,901	$	223,627	$	131,278	$	56,539	$	411,444

Contract Asset and Liability Balances

The following table provides information about receivables and contract liabilities from contracts with customers.

	July 31, 2018		April 30, 2018 ⁽¹⁾		Increase/ (Decrease)
Balances from contracts with customers:
Accounts receivable, net ⁽²⁾	$	272,143	$	212,377	$	59,766
Contract liability (Deferred revenue) ⁽²⁾		392,309		486,353		(94,044	)
Contract liability (included in Other Long-Term Liabilities)	$	14,844	$	—	$	14,844

⁽¹⁾As noted above, prior period amounts have not been adjusted under the modified retrospective method.

⁽²⁾Due to the adoption of the new revenue standard, the sales return reserve as of July 31, 2018 of $28.2 million is recorded in Contract Liability (Deferred Revenue). In prior periods, it was recorded as a reduction to Accounts Receivable, net on the Condensed Consolidated Statement of Financial Position.

Revenue recognized for the three months ended July 31, 2018 relating to the contract liability at April 30, 2018 was $196.3 million.