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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Apr. 30, 2019
Apr. 30, 2018
Apr. 30, 2017
Operating Activities      
Net Income $ 168,263 $ 192,186 $ 113,643
Adjustments to reconcile net income to net cash provided by operating activities:      
Amortization of intangibles 54,658 48,230 49,669
Amortization of product development assets 37,079 41,432 40,209
Depreciation and amortization of technology, property and equipment 69,418 64,327 66,683
Restructuring and related charges 3,118 28,566 13,355
Deferred income tax benefit on U.K. rate changes 0 0 (2,575)
Stock-based compensation expense 18,327 11,244 17,552
Excess tax benefits from stock-based compensation 0 0 (414)
Employee retirement plan expense 5,236 7,388 13,169
Royalty advances (129,949) (122,602) (112,370)
Earned royalty advances 129,125 116,620 114,647
Impairment of publishing brand 0 3,600 0
Foreign currency gains (losses) 6,016 12,819 (421)
Unfavorable tax litigation 0 0 49,029
One-time pension settlement 0 0 8,842
Other non-cash credits (11,934) (30,752) (6,450)
Changes in Operating Assets and Liabilities      
Accounts receivable, net (52,939) (14,209) (29,886)
Inventories, net 3,820 13,517 8,003
Accounts payable 7,369 16,543 (24,182)
Accrued royalties 6,169 3,664 4,325
Contract liability (Deferred revenue) 18,106 36,243 22,692
Accrued income taxes 9,613 (565) 19,479
Restructuring payments (15,219) (30,595) (22,854)
Other accrued liabilities (32,713) 1,022 10,367
Employee retirement plan contributions (40,470) (27,550) (39,687)
Other (2,262) 11,194 2,078
Net Cash Provided by Operating Activities 250,831 382,322 314,903
Investing Activities      
Product development spending (24,426) (36,503) (43,603)
Additions to technology, property and equipment (77,167) (114,225) (105,058)
Acquisitions of publication rights and other (9,494) (26,683) (28,842)
Businesses acquired in purchase transactions, net of cash acquired (190,415) 0 (125,924)
Proceeds from settlement of foreign exchange forward contracts 0 0 60,417
Net Cash Used in Investing Activities (301,502) (177,411) (243,010)
Financing Activities      
Repayment of long-term debt (476,246) (467,915) (923,007)
Borrowing of long-term debt 596,320 459,304 683,000
Purchase of treasury shares (59,994) (39,688) (50,326)
Change in book overdrafts (5,674) (4,191) (214)
Cash dividends (75,752) (73,542) (71,545)
Net proceeds from exercise of stock options and other 3,751 29,201 15,506
Excess tax benefits from stock-based compensation 0 0 414
Net Cash Used in Financing Activities (17,595) (96,831) (346,172)
Effects of Exchange Rate Changes on Cash, Cash Equivalents, and Restricted Cash [1] (8,443) 3,661 (31,011)
Cash, Cash Equivalents and Restricted Cash      
(Decrease)/Increase for year [1] (76,709) 111,741 (305,290)
Balance at beginning of year [1] 170,257 58,516 363,806
Balance at end of year [1] 93,548 170,257 58,516
Cash Paid During the Year for      
Interest 14,867 12,221 15,733
Income taxes, net of refunds 48,264 48,709 33,674
Learning House [Member] | Warrants [Member]      
Non-cash items associated with acquisition      
Warrants to purchase 0.4 million shares of Wiley Class A Common Stock issued in connection with the Learning House acquisition $ 565 $ 0 $ 0
[1] Due to the retrospective adoption of ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash," we are now required to include restricted cash as part of the change in cash, cash equivalents, and restricted cash. As a result, amounts which were previously classified as cash flows from operating activities have been reclassified as they are recognized in the total change in cash, cash equivalents and restricted cash. Refer to Note 2, "Summary of Significant Accounting Policies, Recently Issued, and Recently Adopted Accounting Standards," in the Notes to Consolidated Financial Statements for more information.