(2) Financial Statement Schedule

Schedule II

JOHN WILEY & SONS, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

FOR THE YEARS ENDED APRIL 30, 2019, 2018, AND 2017

(Dollars in thousands)

Description	Balance at Beginning of Period		Charged to Expenses		Deductions From Reserves and Other⁽²⁾			Balance at End of Period
Year Ended April 30, 2019
Allowance for Sales Returns⁽¹⁾	$	18,628	$	37,483	$	37,569		$	18,542
Allowance for Doubtful Accounts	$	10,107	$	5,279	$	1,079		$	14,307
Allowance for Inventory Obsolescence	$	18,193	$	7,328	$	9,696		$	15,825
Valuation Allowance on Deferred Tax Assets	$	8,811	$	51	$	(12,317	)	$	21,179
Year Ended April 30, 2018
Allowance for Sales Returns⁽¹⁾	$	24,300	$	38,711	$	44,383		$	18,628
Allowance for Doubtful Accounts	$	7,186	$	5,439	$	2,518		$	10,107
Allowance for Inventory Obsolescence	$	21,096	$	9,182	$	12,085		$	18,193
Valuation Allowance on Deferred Tax Assets	$	1,300	$	7,511	$	—		$	8,811
Year Ended April 30, 2017
Allowance for Sales Returns⁽¹⁾	$	19,861	$	53,482	$	49,043		$	24,300
Allowance for Doubtful Accounts	$	7,254	$	2,913	$	2,981		$	7,186
Allowance for Inventory Obsolescence	$	21,968	$	9,538	$	10,410		$	21,096
Valuation Allowance on Deferred Tax Assets	$	—	$	1,300	$	—			1,300

⁽¹⁾

Allowance for Sales Returns represents anticipated returns net of a recovery of inventory and royalty costs. The provision is reported as a reduction of gross sales to arrive at revenue and the reserve balance is reported as a reduction of Accounts Receivable, net (in the years ended April 30, 2018 and 2017) with a corresponding increase in Inventories, net and a reduction in Accrued Royalties for the years ended April 30, 2019, 2018 and 2017. Due to the adoption of the new revenue standard, the sales return reserve as of April 30, 2019 is recorded in Contract Liability (Deferred Revenue). In prior periods, it was recorded as a reduction to Accounts Receivable, net. See Note 3, “Revenue Recognition, Contracts with Customers,” of the Notes to Consolidated Financial Statements for more information.

⁽²⁾

Deductions From Reserves and Other for the years ended April 30, 2019, 2018 and 2017 include foreign exchange translation adjustments. Included in Allowance for Doubtful Accounts are accounts written off, less recoveries. Included in Allowance for Inventory Obsolescence are items removed from inventory. Included in Valuation Allowance on Deferred Tax Assets are foreign tax credits generated and valuation allowances needed in connection with the Tax Act.