<SEC-DOCUMENT>0000107140-19-000020.txt : 20190628
<SEC-HEADER>0000107140-19-000020.hdr.sgml : 20190628
<ACCEPTANCE-DATETIME>20190627181257
ACCESSION NUMBER:		0000107140-19-000020
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20190627
FILED AS OF DATE:		20190628
DATE AS OF CHANGE:		20190627

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			WILEY JOHN & SONS, INC.
		CENTRAL INDEX KEY:			0000107140
		STANDARD INDUSTRIAL CLASSIFICATION:	BOOKS: PUBLISHING OR PUBLISHING AND PRINTING [2731]
		IRS NUMBER:				135593032
		STATE OF INCORPORATION:			NY
		FISCAL YEAR END:			0430

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11507
		FILM NUMBER:		19926698

	BUSINESS ADDRESS:	
		STREET 1:		111 RIVER STREET
		CITY:			HOBOKEN
		STATE:			NJ
		ZIP:			07030
		BUSINESS PHONE:		2017486000

	MAIL ADDRESS:	
		STREET 1:		111 RIVER STREET
		CITY:			HOBOKEN
		STATE:			NJ
		ZIP:			07030

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	WILEY JOHN & SONS INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>fy19-11k.htm
<DESCRIPTION>FORM 11K
<TEXT>
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  <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">SECURITIES AND EXCHANGE COMMISSION</div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Washington, D. C. 20549</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">FORM 11-K</font></div>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">[ X ]&#160;&#160; ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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  <div style="text-align: left; margin-left: 27pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the year ended December 31, 2018</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Or</font></div>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">[&#160;&#160; ]&#160;&#160; TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">For the transition period&#160; from</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">to</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Commission file number</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1-11507</font></div>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">A.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 22.5pt;" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Full title of the Plan and the address of the Plan, if different from that of the Issuer named below:</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">John Wiley &amp; Sons, Inc. Employees&#8217; Savings Plan</font></div>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">B.</font><font style="display: inline-block; text-indent: 0px; font-size: 1px; width: 22.5pt;" id="TRGRRTFtoHTMLTab">&#160;</font><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Name of Issuer of the securities held pursuant to the Plan and the address of its principal executive officer:</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">John Wiley &amp; Sons, Inc.</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">111 River Street</font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Hoboken, New Jersey 07030</font></div>
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  <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</font></div>
  <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Index to Financial Statements and Schedule</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Page No.</font></font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Report of Independent Registered Public Accounting Firm</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Statements of&#160; Net Assets Available for Benefits</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">as of&#160; December 31, 2018 and 2017</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Statement of Changes in Net Assets Available for</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Benefits for the Year Ended December 31, 2018</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Notes to Financial Statements</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4-9</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Supplemental Schedule:*</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Schedule H, Line 4i -&#160; &#160;&#160; Schedule of Assets (Held at End of Year),</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;as of December 31, 2018</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">10</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">* Schedule required by Form 5500.&#160; Those that are not applicable are not included.</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Signature</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Exhibit:</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">23 Consent of Independent Registered Public Accounting Firm</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">12</font></div>
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  <div style="text-align: center;">1<br>
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  <div style="text-align: center; margin-top: 12pt; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Report
          of Independent Registered Public Accounting Firm</u></font></font></div>
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  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">To the Plan Participants and Plan Administrator</font></div>
  <div style="text-align: justify; margin-bottom: 18pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">John Wiley &amp; Sons, Inc. Employees&#8217; Savings Plan:</font></div>
  <div style="text-align: left; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Opinion on the Financial Statements</font></div>
  <div style="text-align: left; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We have audited the accompanying <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">statements of
        net assets available for benefits</font> of the John Wiley &amp; Sons, Inc. Employees&#8217; Savings Plan (the Plan) as of December&#160;31, 2018 and 2017, the related statement<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> of
        changes in net assets available for benefits for the year</font> ended December 31, 2018, and the related notes (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">the net assets available for benefits of the Plan as of December 31, 2018 and 2017, and the changes in net assets available for benefits for the year ended December 31, 2018</font>,
      in conformity with U.S.&#160;generally accepted accounting principles.</font></div>
  <div style="text-align: left; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Basis for Opinion</font></div>
  <div style="text-align: left; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">These financial statements are the responsibility of the Plan&#8217;s management. Our responsibility is to express an opinion on
      these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the
      U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.</font></div>
  <div style="text-align: left; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the
      audit to obtain reasonable assurance about whether the<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">&#160;</font>financial statements are free of material misstatement, whether due to error or fraud. Our
      audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis,
      evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the
      financial statements. We believe that our audits provide a reasonable basis for our opinion.</font></div>
  <div style="text-align: left; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Accompanying Supplemental Information</font></div>
  <div style="text-align: left; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The supplemental information in the accompanying Schedule H, Line 4i &#8211; Schedule of Assets (Held at End of Year) as of
      December 31, 2018 has been subjected to audit procedures performed in conjunction with the audit of the Plan&#8217;s financial statements. The supplemental information is the responsibility of the Plan&#8217;s management. Our audit procedures included
      determining whether the supplemental information reconciles to the<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">&#160;</font>financial statements or the underlying accounting and other records, as
      applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information,
      including its form and content, is presented in conformity with the <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Department of Labor&#8217;s Rules and Regulations for Reporting and Disclosure under the Employee Retirement
        Income Security Act of 1974</font>. In our opinion, the supplemental information is fairly stated, in all material respects, in relation to the financial statements as a whole.</font></div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="text-align: center; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;/s/ KPMG LLP</font></div>
  <div><br>
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  <div style="text-align: left; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We have served as the Plan&#8217;s auditor since 2002.</font></div>
  <div><br>
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  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">New York, New York</font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">June 27, 2019</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <font style="font-weight: normal;">2</font><br>
    </font></div>
  <font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</font></div>
  <div><br>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Statements of Net Assets Available for Benefits</font></div>
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  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Assets:</font></div>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">2018</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
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          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">2017</font></div>
        </td>
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        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
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        <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <div style="text-align: left; margin-left: 48.6pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Wiley stock fund</font></div>
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        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,798,908</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <div style="text-align: left; margin-left: 75.6pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Investments at fair value</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">396,828,399</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">435,221,156</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">
          <div style="text-align: left; margin-left: 26.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Notes receivable from participants</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3,213,904</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">3,730,362</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">124,697</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">111,806</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 76%; background-color: #CCEEFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
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          <div style="text-align: left; margin-left: 26.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Net assets available for benefits</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">439,063,324</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>

  </table>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">See accompanying notes to the financial statements.</font></div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div><br>
  </div>
  <div style="text-align: center;">3</div>
  <div style="text-align: center;"><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</font></div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Statement of Changes in Net Assets Available for Benefits</font></div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">For the Year Ended December 31, 2018</font></div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
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        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">16,449,341</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
          <div style="text-align: left; margin-left: 47.7pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Net investment loss</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(24,796,749</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</font></div>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
          <div style="text-align: left; margin-left: 26.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Interest on notes receivable from participants</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">134,496</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
          <div style="text-align: left; margin-left: 44.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Participant</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">17,124,538</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
          <div style="text-align: left; margin-left: 44.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Rollover</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,258,973</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">
          <div style="text-align: left; margin-left: 44.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Employer, net of forfeitures</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">8,486,130</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #CCEEFF;">
          <div style="text-align: left; margin-left: 26.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total contributions</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">26,869,641</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">
          <div style="text-align: left; margin-left: 26.1pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Distributions to participants</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(40,994,634</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</font></div>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: rgb(255, 255, 255); padding-bottom: 2px;">
          <div style="text-align: left; margin-left: 13.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;Administrative expenses</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(255, 255, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(109,078</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(255, 255, 255); padding-bottom: 2px;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</font></div>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Net decrease</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(38,896,324</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">)</font></div>
        </td>
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      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 2px; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Net assets available for benefits, beginning of year</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">439,063,324</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; background-color: #CCEEFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 88%; padding-bottom: 4px; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Net assets available for benefits, end of year</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">400,167,000</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>

  </table>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">See accompanying notes to the financial statements.</font></div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div>
    <div>
      <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> <font style="font-weight: normal;">4</font><br>
      </div>
      <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> John Wiley &amp; Sons, Inc. Employees' Savings Plan</div>
      <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to Financial Statements</font></div>
      <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
    </div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zadd0c13b1dc34d27b78baed76c9433ab" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(1)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Description of the Plan</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The following represents only the major provisions of the John Wiley &amp; Sons, Inc. Employees&#8217;
      Savings Plan (the&#160;Plan), as amended, and is presented to assist in understanding the Plan&#8217;s financial statements. Participants should refer to the Plan Document for a more complete description of the Plan&#8217;s provisions.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z8e3e027ebb5649ee8512d6693ffa6769" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(a)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">General</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Plan is a defined contribution plan that covers employees of John Wiley &amp; Sons, Inc. and
      Affiliated Companies (the&#160;Company or Plan Sponsor). The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (ERISA).</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z467f85ef7e3c4d63bd3784370c221ff4" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(b)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Administration</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Benefits Administration Board of John Wiley &amp; Sons, Inc., (the&#160;Plan Administrator) administers
      the Plan. The Company&#8217;s Board of Directors appoints the members of the Benefits Administration Board.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Fiduciary Trust Company (VFTC or Trustee) holds the Plan&#8217;s assets in trust and is also the
      Plan&#8217;s record keeper.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The custodian of the Plan&#8217;s assets is an affiliate of VFTC.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Certain expenses of maintaining the Plan are paid directly by the Company and are excluded from these
      financial statements. Expenses of the investment funds, including investment management, audit, and operating expenses are paid by those funds and included in net earnings of the funds. Administrative expenses paid by the participant include annual
      loan administrative fees and managed account fees for those participants whom elect the service.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zed44270bbf904a4193bf98d033db39ce" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(c)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Eligibility and Vesting</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Each employee becomes eligible to participate as soon as practicable following three&#160;months of service.
      All Company contributions plus actual earnings thereon are 100% immediately vested for participants employed on and after January&#160;1, 2014. A participant&#8217;s contributions plus actual earnings thereon are fully vested and nonforfeitable at all times.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zaee10b14347d412ab5a39548ffa83820" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(d)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Contributions</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">A participant may designate between 2% and 50% of his or her base salary, bonus, incentive pay, and
      overtime (Eligible Compensation), on a pre&#8209;tax basis (or up to 25% on an after&#8209;tax basis), to be invested in funds available to them and chosen by the participant. Unless an eligible employee elects otherwise, he or she will be automatically enrolled
      in the Plan, with pre&#8209;tax contributions at 4% of Eligible Compensation, with any such contributions invested in an age&#8209;appropriate Vanguard Target Retirement Fund, subject to 1% automatic increases each July&#160;until the participant&#8217;s contribution rate
      equals 10% or the participant elects otherwise.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Subject to certain limitations prescribed by the Internal Revenue Service (the&#160;IRS), the Company
      contributes an amount equal to 25% of each participant&#8217;s contribution up to 6% of Eligible Compensation, whether they&#8217;re pre-tax, after-tax or catch-up contributions. Additionally, the Company contributes a nonelective basic retirement contribution
      equal to 3% of a participant&#8217;s Eligible Compensation. The participant does not need to contribute to the Plan to receive this contribution. The basic 3% contribution and the matching contribution are made bimonthly to coincide with payroll. The Board
      of Directors has the option to declare an annual discretionary contribution following the end of each of the Company&#8217;s fiscal years. There were no discretionary Company contributions made in 2018 or 2017.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
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  </div>
  <div style="text-align: justify; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> </font><br>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> <font style="font-weight: normal;">5</font><br>
    </div>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to Financial Statements</font></div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">No more than 50% of a participant&#8217;s Eligible Compensation can be a deferred cash contribution, which
      represents a reduction in the participant&#8217;s Eligible Compensation and therefore tax&#8209;deferred. The pre&#8209;tax contribution of a participant under the age of 50 cannot exceed an amount set annually by the IRS, which in 2018 amounted to $18,500. Subject to
      certain limitations prescribed by the IRS, participants over 50&#160;years of age can make &#8220;catch up&#8221; contributions. In 2018, participants over 50&#160;years of age could contribute a maximum of $24,500, including $6,000 as &#8220;catch up&#8221; contributions over and
      above the IRS maximum deferral.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zdd28d109f8ec47878ad5a6c36fc0ae2f" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(e)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Forfeitures</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Participants who are not fully vested at the time they terminate their employment forfeit the nonvested
      portion of their account at the time of termination. However, the nonvested amount will be restored to the participant&#8217;s account if the participant is re&#8209;employed within 5&#160;years. The amounts forfeited are used to reduce the Company&#8217;s contribution.
      Forfeitures of $555,093 were used to reduce Company contributions for the year ended December&#160;31, 2018. There were $633 and $3,765 of forfeitures available to reduce future Company contributions at December&#160;31, 2018 and 2017, respectively.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z9ec2900b945440e99af988544e20455b" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(f)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Investment of Contributions</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Participants can invest their contributions in 1% multiples among any combination of 25 available
      investment options, which include a choice of mutual funds and the Wiley stock fund, provided that contributions to the Wiley stock fund do not exceed 25% of the participant&#8217;s total contributions. If a participant fails to make an investment
      election, their contributions, including any Company contributions, shall be invested in an age&#8209;appropriate Vanguard Target Retirement Fund.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Wiley stock fund consists of John Wiley &amp; Sons, Inc. Class&#160;A stock and a small amount of cash
      (less than 1% of the fair value of the fund) to meet daily liquidity needs of the fund.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Participants are permitted to change the allocation of their contributions daily. Subject to certain
      limitations imposed by VFTC, a participant can transfer existing fund balances to other investment options daily.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z7e177641ab654fc7bc149cccb9fa264b" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(g)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Payment of Benefits</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">A withdrawal by participants of their account balance is permitted when the participant reaches age
      59&#8209;1/2, proves financial hardship or terminates his or her employment. Withdrawals of after&#8209;tax contributions can be made as often as twice each calendar year.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zbdbdda741cae4144819840667b4a6882" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(h)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Termination of Employment</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Upon termination of employment, a participant has the option of receiving the vested balance in his or
      her account as an immediate or deferred lump sum, in installments, or by a direct &#8220;roll over&#8221; into an individual retirement account or another qualified plan. If the participant&#8217;s balance is at least $5,000, it may be left in the Plan through April&#160;1
      of the year following in which the participant reaches age 70&#8209;1/2. Terminated participants who elect to leave their account balance in the Plan retain the same rights to transfer balances between investment funds as active participants.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Participants may elect to receive a lump sum cash payment or annual installments. Installment payouts
      may range from two to twenty&#160;years and may be elected by any participant who has terminated from employment with an account balance of at least $5,000, regardless of his or her age or years of service. The installment payments are made in
      approximately equal amounts, and each includes income credited to the participant&#8217;s account balance before the installment amount is calculated. In addition, a life expectancy installment option is available.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
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  </div>
  <div style="text-align: justify; margin-bottom: 10pt;"><br>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> <font style="font-weight: normal;">6</font><br>
    </div>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to Financial Statements</font></div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z35ad0048ae6c48eeb250eb2ed90e5541" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(i)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Notes Receivable from Participants</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Participants may borrow from the vested portion of their account, and then repay the loan with interest
      through payroll deductions. The interest rates on loans outstanding at both December&#160;31, 2018 and December 31, 2017 ranged from 3.25% to 6.25% per annum. The length of such loans is generally 5&#160;years but loans to purchase a primary residence may be
      up to 20&#160;years in length. Loans are limited to a minimum of $1,000 and a maximum of the lesser of 50% of the participant&#8217;s vested balance, or $50,000 reduced by any outstanding loans. The amounts due from participants under the loan provisions of the
      Plan, including accrued interest, are shown in the accompanying financial statements. Participant loans are carried at cost plus accrued, unpaid interest. Discretionary contributions, nonelective basic contributions and their related earnings shall
      not be available for a loan under any circumstances.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zc699b3ed0aa4410e8eaadf587691d08c" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(2)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Summary of Significant Accounting Policies</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z25238b6263a2407498af8329e40ae999" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(a)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Method of Accounting</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The books and records of the Plan are maintained on an accrual basis.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z5cf0d29521154ac1b408065fb7f856b0" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(b)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Use of Estimates</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The preparation of financial statements in conformity with U.S.&#160;generally accepted accounting
      principles (&#8220;U.S. GAAP&#8221;) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent liabilities at the date of the financial statements and the reported amounts of
      income and expenses during the reporting period. Actual results could differ from those estimates.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zd35b44f3de2f4e21b8f340fdf47f827f" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(c)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Investment Valuation and Income Recognition</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Plan&#8217;s investments are stated at fair value. Shares of mutual funds are valued at quoted market
      prices. The Company stock fund is valued at its year end unit closing price (comprised of year end market price of Company stock plus any cash). Each participant is entitled to exercise voting rights attributable to the shares allocated to his or her
      account and is notified by the Trustee prior to the time that such rights are to be exercised. The Trustee is permitted to vote any allocated shares for which instructions have not been given by a participant only in the same proportion as those
      participants which did vote. The Plan&#8217;s investments have no significant restrictive redemption provisions.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Purchases and sales of investments are recorded on a trade date basis. Interest income is recorded on
      an accrual basis. Dividends are recorded on the ex&#8209;dividend date. Net appreciation in fair value of investments includes realized gains and losses on investments bought and sold and the change in appreciation (depreciation) from one period to the
      next.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zba874b91a03f4575b2ff3f7965c9434d" class="DSPFListTable">

        <tr>
          <td style="width: 36pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">(d)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold; font-style: italic;">Payment of Benefits</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Benefits are recorded when paid.</font></div>
  <div style="text-align: justify; margin-left: 36pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> <br>
    </font></div>
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  </div>
  <div style="text-align: justify; margin-bottom: 10pt;"><br>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> <font style="font-weight: normal;">7</font><br>
    </div>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to Financial Statements</font></div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zde9d4961e9b9405b988dfb5a0253a921" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(3)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Fair Value Measurements</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">U.S.&#160;GAAP establishes a framework for measuring fair value which provides a fair value hierarchy that
      prioritizes the inputs to valuation techniques used to measure fair value. U.S.&#160;GAAP defines fair value as, &#8220;the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at
      the measurement date&#8221;. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level&#160;1 measurements) and the lowest priority to unobservable inputs (Level&#160;3 measurements). The
      three&#160;levels of the fair value hierarchy under U.S.&#160;GAAP are described below:</font></div>
  <div style="text-align: justify; margin-bottom: 10pt;">
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="zc4428d1a83ae4019a9a457cc5a913ea5" class="DSPFListTable">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level&#160;1</font></td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Plan has the ability to access.</font></div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; margin-bottom: 10pt;">
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="z24dc95bc0977486cbb32465e775a8cea" class="DSPFListTable">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level&#160;2</font></td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs to the valuation methodology include:</font></div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z5adedf955c1e48cf83bab5f5d998d8a9" class="DSPFListTable">

        <tr>
          <td style="width: 90pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 72pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#8226;</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Quoted prices for similar assets or liabilities in active markets;</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z6577fb9707104761871c0238e560bcbd" class="DSPFListTable">

        <tr>
          <td style="width: 90pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 72pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#8226;</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Quoted prices for identical or similar assets or liabilities in inactive markets;</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zc96dcd934f8d4a7f89677abc892d4358" class="DSPFListTable">

        <tr>
          <td style="width: 90pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 72pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#8226;</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs other than quoted prices that are observable for the asset or liability;</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 10pt; width: 100%;" id="ze8bfa4a24a374878a942be1faecb41a9" class="DSPFListTable">

        <tr>
          <td style="width: 90pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 72pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: Symbol, serif;">&#8226;</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs that are derived principally from or corroborated by observable market data by correlation or other
                means.</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 72pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">If the asset or liability has a specified (contractual) term, the Level&#160;2 input must be observable for
      substantially the full term of the asset or liability.</font></div>
  <div style="text-align: justify; margin-bottom: 10pt;">
    <div>
      <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="zb9918f4943cf4e64ab38af79e22fa95a" class="DSPFListTable">

          <tr>
            <td style="width: 18pt;"><br>
            </td>
            <td style="width: 54pt; vertical-align: top; align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level&#160;3</font></td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Inputs to the valuation methodology are unobservable and significant to the fair value measurement.</font></div>
            </td>
          </tr>

      </table>
    </div>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The asset&#8217;s or liability&#8217;s fair value measurement level within the fair value hierarchy is based on the
      lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximize the use of observable inputs and minimize the use of unobservable inputs.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Following is a description of the valuation methodologies used for assets measured at fair value.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Mutual
        funds</font>: Valued at quoted market prices in an exchange and active market.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-style: italic;">Wiley
        stock fund</font>: Consists of a small amount of cash and John Wiley &amp; Sons, Inc. Class&#160;A stock. The Class&#160;A stock is valued at the closing price reported on the active market on which the individual securities are traded.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">There have been no changes in the methodologies used as of December&#160;31, 2018 and 2017 and there were no
      transfers between levels for the year ended December 31, 2018.. The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. Furthermore, while the Plan
      believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value
      measurement at the reporting date.</font></div>
  <div><br>
  </div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> <font style="font-weight: normal;">8</font><br>
    </div>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to Financial Statements</font></div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The following table sets forth by level, within the fair value hierarchy, the Plan&#8217;s investments at
      fair value as of December&#160;31, 2018 and 2017.</font></div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="zc85404cca5fe4e6f8c3c2de606e68e73">

      <tr>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="14">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Assets at Fair Value as of December 31, 2018</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level 1</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level 2</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level 3</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Total</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
          <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Mutual funds</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">389,128,710</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">389,128,710</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;">
          <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Wiley stock fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7,699,689</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7,699,689</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
          <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total investments at fair value</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">396,828,399</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">396,828,399</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>

  </table>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="z479255a44827423c97f3e14d5de46327">

      <tr>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="14">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Assets at Fair Value as of December 31, 2017</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level 1</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level 2</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Level 3</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top; border-bottom: #000000 solid 2px;" colspan="2">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Total</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 52%; background-color: #CCEEFF;">
          <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Mutual funds</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">423,422,248</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">423,422,248</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 2px; background-color: #FFFFFF;">
          <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Wiley stock fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,798,908</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">11,798,908</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="vertical-align: bottom; width: 52%; padding-bottom: 4px; background-color: #CCEEFF;">
          <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total investments at fair value</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">435,221,156</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">-</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">435,221,156</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>

  </table>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Plan did not hold any investments categorized as Level&#160;3 as of December&#160;31, 2018 and 2017.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="zff310cb909594ec2a23a187b6b0a348a" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(4)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Tax Status</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">On March 26, 2014 the Plan received a favorable determination letter from the IRS, which stated that
      the Plan and its underlying trust qualify under the applicable provisions of the Code and therefore are exempt from federal income taxes.&#160; The Plan has been amended since the issuance of the IRS determination letter in accordance with the IRS
      requirements.&#160; In the opinion of the Plan Administrator, the Plan and its underlying trust have operated within the terms of the Plan document and remain qualified under the applicable provisions of the Code.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">U.S.&#160;GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax
      liability (or derecognize an asset) if the Plan has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan, and has concluded
      that as of December&#160;31, 2018, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or derecognition of an asset) or disclosure in the financial statements.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The IRS is one of the primary oversight bodies of the Plan. The IRS generally has the ability to
      examine the Plan&#8217;s activities for three prior years. Currently there is no tax examination in progress.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z537f828294c0487b99f0ff97cdd9960a" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(5)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Plan Termination</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Although it has not expressed any intent to do so, the Company has the right under the Plan to
      discontinue its contributions at any time and to terminate the Plan, subject to the provisions of ERISA.</font></div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: justify; margin-bottom: 10pt;"><br>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;"> <font style="font-weight: normal;">9</font><br>
    </div>
    <div style="text-align: center; margin-bottom: 10pt; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Notes to Financial Statements</font></div>
    <div style="text-align: center; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018 and 2017</font></div>
  </div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="z182b61c18442400f9f5791f407d87e1c" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(6)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Risk and Uncertainties</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The Plan invests in various investment securities. Investment securities are exposed to various risks
      such as interest rate, market and credit risks. As a result, changes in the value of investment securities could materially affect the amounts reported in the statements of net assets available for benefits. The Plan&#8217;s exposure to a concentration of
      credit risk is limited by the diversification of investments across all participant directed fund elections. Additionally, the investments within each participant directed fund election are further diversified into varied financial instruments, with
      the exception of the investments in the Wiley stock fund, which represented approximately 2% of net assets at December&#160;31, 2018 and approximately 3% of net assets at December 31, 2017.</font></div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Plan investments include a variety of investments that may directly or indirectly invest in securities
      with contractual cash flows. The value, liquidity and related income of these securities are sensitive to changes in economic conditions and may be adversely affected by shifts in the market&#8217;s perception of the issuers and changes in interest rates.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="ze0ebe3124c954d1db9be7bbb1ae9e8ad" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(7)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Related Party Transactions</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Certain of the Plan&#8217;s investments consist of shares of mutual funds managed by an affiliate of VFTC and
      the Wiley stock fund. VFTC acts as Trustee for the Plan. Transactions in such investments qualify as party&#8209;in&#8209;interest transactions that are exempt from the prohibited transaction rules.</font></div>
  <div>
    <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-bottom: 5pt; width: 100%;" id="ze3925778b63f4567990f3621d66d6ec9" class="DSPFListTable">

        <tr>
          <td style="width: 18pt; vertical-align: top; align: right;">
            <div style="text-align: left; margin-left: 12.25pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">(8)</font></div>
          </td>
          <td style="width: auto; vertical-align: top;">
            <div style="text-align: justify; text-indent: 18pt; margin-bottom: 5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Subsequent Events</font></div>
          </td>
        </tr>

    </table>
  </div>
  <div style="text-align: justify; margin-left: 18pt; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">On February 1, 2019, the John Wiley &amp; Sons, Inc. Common Stock Fund was closed to new contributions
      and investments in the Plan.</font></div>
  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
    <div style="page-break-after: always;" id="DSPFPageBreak">
      <hr noshade="noshade" style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;"></div>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><font style="font-size: 10pt; font-family: &quot;Times New Roman&quot;,Times,serif;"><u> </u>10<u><br>
        </u></font></font></div>
  <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u> <br>
        </u></font></font></div>
  <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"><u>Supplemental Schedule</u></font></font></div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</font></div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Schedule H, Line 4i - Schedule of Assets (Held at End of Year)</font></div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">December 31, 2018</font></div>
  <div><br>
  </div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">EIN: 13-5593032</font></div>
  <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Plan Number: 002</font></div>
  <div><br>
  </div>
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        <td valign="bottom" style="vertical-align: top;" colspan="2">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; border-bottom: #000000 solid 2px;" colspan="2">
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; padding-bottom: 2px;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Institutional Index Fund</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">265,365</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
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        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">60,383,861</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Wellington Fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">669,922</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">42,942,002</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Total Bond Market Index Fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">2,632,330</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">27,507,853</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Mid-Cap Index Fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">601,081</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">22,708,846</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Federal Money Market Fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">22,275,040</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">22,275,040</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Explorer Fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">253,859</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">19,742,608</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2035 Fund</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,101,600</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">23,464,087</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2045 Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,157,774</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">24,787,942</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard International Growth Fund</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">216,483</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">17,149,750</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2040 Fund</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2050 Fund</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2015 Fund</font></div>
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          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement Income Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">197,590</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,052,569</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2055 Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">223,436</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4,803,870</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2060 Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">30,037</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">645,803</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Vanguard Target Retirement 2065 Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1,059</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">20,818</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Metropolitan West Total Return Bond Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registered Investment Company</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">78,579</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">768,504</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: rgb(204, 238, 255); padding-bottom: 2px;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: rgb(204, 238, 255); border-bottom: 2px solid rgb(0, 0, 0);" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: rgb(204, 238, 255); padding-bottom: 2px;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; padding-bottom: 2px; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total Mutual Funds</font></div>
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        <td valign="bottom" style="vertical-align: top; width: 32.5%; padding-bottom: 2px; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 solid 2px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">389,128,710</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #CCEEFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: top; width: 32.5%; background-color: #CCEEFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Wiley Stock Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Company Stock Fund</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">225,401</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">7,699,689</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; background-color: #FFFFFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">*</font></div>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: middle; width: 32.5%; padding-bottom: 2px; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Notes receivable from participants</font></div>
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        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; padding-bottom: 2px; background-color: #CCEEFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;387 Loans to participants with interest rates from 3.25% to 6.25% and maturity dates
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        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 solid 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 2px; background-color: #CCEEFF;" colspan="1">&#160;</td>
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      <tr>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 32.5%; padding-bottom: 4px; background-color: #FFFFFF;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Total</font></div>
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        <td valign="bottom" style="vertical-align: top; width: 32.5%; padding-bottom: 4px; background-color: #FFFFFF;">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
        <td valign="bottom" style="text-align: left; vertical-align: bottom; width: 1%; border-bottom: #000000 double 4px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">$</font></div>
        </td>
        <td valign="bottom" style="vertical-align: bottom; text-align: right; width: 9%; border-bottom: #000000 double 4px; background-color: #FFFFFF;" colspan="1">
          <div><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">400,042,303</font></div>
        </td>
        <td valign="bottom" nowrap="nowrap" style="text-align: left; vertical-align: bottom; width: 1%; padding-bottom: 4px; background-color: #FFFFFF;" colspan="1">&#160;</td>
      </tr>

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  </div>
  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">* - Indicates a party-in-interest to the Plan</font></div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-left: 13.5pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">See accompanying Report of Independent Registered Public Accounting Firm.</font></div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
    </font></div>
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      <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <font style="font-weight: normal;">11</font><br>
    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
    </font></div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">SIGNATURE</font></div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Benefits Administration Board of John Wiley &amp; Sons, Inc. has duly
      caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>
  <div><br>
  </div>
  <div><br>
  </div>
  <table cellspacing="0" cellpadding="0" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;" id="zc8d3a238f20d41548cc16f7f0fef03dd">

      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">John Wiley &amp; Sons, Inc.</font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom; border-bottom: 2px solid black;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Employees&#8217; Savings Plan</font></font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Registrant)</font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">&#160;</td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">
          <div style="text-align: right;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">By:</font></div>
        </td>
        <td style="width: 33.74%; vertical-align: bottom; border-bottom: #000000 2px solid;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ Kevin Monaco</font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Kevin Monaco</font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Senior Vice President and Treasurer</font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">
          <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Benefits Administration Board Member</font></div>
        </td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">&#160;</td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: top;">&#160;</td>
        <td style="width: 33.74%; vertical-align: bottom;">&#160;</td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>
      <tr>
        <td style="width: 33.29%; vertical-align: bottom;">
          <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Dated:&#160; &#160; June 27, 2019</font></div>
        </td>
        <td style="width: 33.74%; vertical-align: bottom;">&#160;</td>
        <td style="width: 32.97%; vertical-align: top;">&#160;</td>
      </tr>

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  </div>
  <div style="text-align: center;">12<br>
  </div>
  <div><br>
  </div>
  <div style="text-align: right; text-indent: 36pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Exhibit 23</font></div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM</font></div>
  <div><br>
  </div>
  <div><br>
  </div>
  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">To the Plan Administrator of the</font></div>
  <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">John Wiley &amp; Sons, Inc. Employees' Savings Plan</font></div>
  <div><br>
  </div>
  <div style="text-align: justify; margin-bottom: 12pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">We consent to the incorporation by reference in the Registration Statement No. 33-62605 on Form S-8 of John Wiley &amp;
      Sons, Inc. of our report dated&#160; June 27, 2019, with respect to the statements of net assets available for benefits of the John Wiley &amp; Sons, Inc. Employees' Savings Plan as of December 31, 2018 and 2017, the related statement of changes in net
      assets available for benefits for the year ended December 31, 2018, and the related notes (collectively, the financial statements) and the supplemental Schedule H, Line 4i &#8211; Schedule of Assets (Held at End of Year) as of December 31, 2018, which
      report appears in the December 31, 2018 annual report on Form 11-K of the John Wiley &amp; Sons, Inc. Employees' Savings Plan.</font></div>
  <div style="margin-bottom: 12pt;"><br>
  </div>
  <div style="text-align: justify; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">/s/ KPMG LLP</font></div>
  <div style="text-align: justify; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">New York, New York</font></div>
  <div style="margin-bottom: 10pt;"><br>
  </div>
  <div style="text-align: left; margin-bottom: 10pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">June 27, 2019</font></div>
  <div><br>
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