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v3.20.1

Segment Information (Tables) | 12 Months Ended
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Apr. 30, 2020
Segment Information [Abstract] |
Segment Information | Segment information is as follows:
|  | For the Years Ended April 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Revenue: |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 948,839 |  |  | $ | 939,217 |  |  | $ | 936,857 |
Academic & Professional Learning |  |  | 650,789 |  |  |  | 703,303 |  |  |  | 740,115 |
Education Services |  |  | 231,855 |  |  |  | 157,549 |  |  |  | 119,131 |
Total Revenue |  | $ | 1,831,483 |  |  | $ | 1,800,069 |  |  | $ | 1,796,103 |
Contribution to (Loss) Profit: |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 169,119 |  |  | $ | 259,754 |  |  | $ | 272,904 |
Academic & Professional Learning |  |  | 74,176 |  |  |  | 146,265 |  |  |  | 144,041 |
Education Services |  |  | (117,515 | ) |  |  | (13,272 | ) |  |  | (1,899 | )
Total Contribution to Profit |  | $ | 125,780 |  |  | $ | 392,747 |  |  | $ | 415,046 |
Corporate Expenses |  |  | (180,067 | ) |  |  | (168,758 | ) |  |  | (183,585 | )
Operating (Loss) Income |  | $ | (54,287 | ) |  | $ | 223,989 |  |  | $ | 231,461 |
Adjusted Contribution to Profit: (1) |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 265,353 |  |  | $ | 260,885 |  |  | $ | 278,161 |
Academic & Professional Learning |  |  | 84,646 |  |  |  | 147,404 |  |  |  | 155,885 |
Education Services |  |  | (3,844 | ) |  |  | (12,883 | ) |  |  | (5 | )
Total Adjusted Contribution to Profit |  | $ | 346,155 |  |  | $ | 395,406 |  |  | $ | 434,041 |
Adjusted Corporate Expenses |  |  | (165,487 | ) |  |  | (168,299 | ) |  |  | (170,414 | )
Total Adjusted Operating Income |  | $ | 180,668 |  |  | $ | 227,107 |  |  | $ | 263,627 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 69,495 |  |  | $ | 60,889 |  |  | $ | 54,805 |
Academic & Professional Learning |  |  | 69,807 |  |  |  | 68,126 |  |  |  | 72,274 |
Education Services |  |  | 24,131 |  |  |  | 18,117 |  |  |  | 13,112 |
Total Depreciation and Amortization |  | $ | 163,433 |  |  | $ | 147,132 |  |  | $ | 140,191 |
Corporate Depreciation and Amortization |  |  | 11,694 |  |  |  | 14,023 |  |  |  | 13,798 |
Total Depreciation and Amortization |  | $ | 175,127 |  |  | $ | 161,155 |  |  | $ | 153,989 |
Adjusted EBITDA: (2) |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 334,848 |  |  | $ | 321,774 |  |  | $ | 332,966 |
Academic & Professional Learning |  |  | 154,453 |  |  |  | 215,530 |  |  |  | 228,159 |
Education Services |  |  | 20,287 |  |  |  | 5,234 |  |  |  | 13,107 |
Total Segment Adjusted EBITDA |  | $ | 509,588 |  |  | $ | 542,538 |  |  | $ | 574,232 |
Corporate Adjusted EBITDA |  |  | (153,793 | ) |  |  | (154,276 | ) |  |  | (156,616 | )
Total Adjusted EBITDA |  | $ | 355,795 |  |  | $ | 388,262 |  |  | $ | 417,616 |
(1) | Adjusted Contribution to Profit is Contribution to (Loss) Profit adjusted for restructuring charges and impairment of goodwill and intangible assets. See Note 7, “Restructuring and Related Charges” and Note 11, “Goodwill and Intangible Assets” for these charges by segment.
(2) | Adjusted EBITDA is Adjusted Contribution to Profit with depreciation and amortization added back.
Reconciliation of GAAP Net Income to Non-GAAP EBITDA and Adjusted EBITDA | The following table shows a reconciliation of our consolidated U.S. GAAP net (loss) income to Non-GAAP EBITDA and Adjusted EBITDA:
|  | For the Years Ended April 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Net (Loss) Income |  | $ | (74,287 | ) |  | $ | 168,263 |  |  | $ | 192,186 |
Interest expense |  |  | 24,959 |  |  |  | 16,121 |  |  |  | 13,274 |
Provision for income taxes |  |  | 11,195 |  |  |  | 44,689 |  |  |  | 21,745 |
Depreciation and amortization |  |  | 175,127 |  |  |  | 161,155 |  |  |  | 153,989 |
Non-GAAP EBITDA |  | $ | 136,994 |  |  | $ | 390,228 |  |  | $ | 381,194 |
Impairment of goodwill and intangible assets |  |  | 202,348 |  |  |  | — |  |  |  | 3,600 |
Restructuring and related charges |  |  | 32,607 |  |  |  | 3,118 |  |  |  | 28,566 |
Foreign exchange transaction (gains) losses |  |  | (2,773 | ) |  |  | 6,016 |  |  |  | 12,819 |
Interest and other income |  |  | (13,381 | ) |  |  | (11,100 | ) |  |  | (8,563 | )
Non-GAAP Adjusted EBITDA |  | $ | 355,795 |  |  | $ | 388,262 |  |  | $ | 417,616 |
Total Revenue by Product/Service and Total Assets, Expenditure for Long-Lived Assets and Depreciation and Amortization by Segment | See Note 3, “Revenue Recognition, Contracts with Customers,” for revenue from contracts with customers disaggregated by segment and product type for the years ended April 30, 2020, 2019 and 2018.
|  | For the Years Ended April 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Total Assets |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 1,225,313 |  |  | $ | 1,172,145 |  |  | $ | 1,242,458 |
Academic & Professional Learning |  |  | 924,924 |  |  |  | 959,601 |  |  |  | 942,598 |
Education Services |  |  | 486,316 |  |  |  | 440,516 |  |  |  | 199,023 |
Corporate |  |  | 532,241 |  |  |  | 376,504 |  |  |  | 455,372 |
Total |  | $ | 3,168,794 |  |  | $ | 2,948,766 |  |  | $ | 2,839,451 |
Product Development Spending and Additions to Technology, Property and Equipment |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | (16,329 | ) |  | $ | (12,928 | ) |  | $ | (24,961 | )
Academic & Professional Learning |  |  | (38,229 | ) |  |  | (32,337 | ) |  |  | (43,625 | )
Education Services |  |  | (613 | ) |  |  | (3,160 | ) |  |  | (5,991 | )
Corporate |  |  | (60,030 | ) |  |  | (53,168 | ) |  |  | (76,151 | )
Total |  | $ | (115,201 | ) |  | $ | (101,593 | ) |  |  | (150,728 | )
Revenue from External Customers Based on Location of The Customer and Technology, Property and Equipment by Geographical Area | Revenue from external customers is based on the location of the customer and Technology, Property and Equipment, Net by geographic area were as follows:
|  | Revenue, net |  |  | Technology, Property and Equipment, Net |
|  | 2020 |  |  | 2019 |  |  | 2018 |  |  | 2020 |  |  | 2019 |  |  | 2018 |
United States |  | $ | 944,075 |  |  | $ | 932,927 |  |  | $ | 913,852 |  |  | $ | 261,296 |  |  | $ | 252,459 |  |  | $ | 249,542 |
United Kingdom |  |  | 174,567 |  |  |  | 150,242 |  |  |  | 147,406 |  |  |  | 18,076 |  |  |  | 18,331 |  |  |  | 20,955 |
Germany |  |  | 113,664 |  |  |  | 97,505 |  |  |  | 98,404 |  |  |  | 8,059 |  |  |  | 8,423 |  |  |  | 9,259 |
Japan |  |  | 75,104 |  |  |  | 77,145 |  |  |  | 81,572 |  |  |  | 112 |  |  |  | 87 |  |  |  | 72 |
Australia |  |  | 73,718 |  |  |  | 77,453 |  |  |  | 78,270 |  |  |  | 1,051 |  |  |  | 1,440 |  |  |  | 1,454 |
China |  |  | 58,870 |  |  |  | 55,024 |  |  |  | 53,076 |  |  |  | 492 |  |  |  | 688 |  |  |  | 229 |
Canada |  |  | 56,370 |  |  |  | 50,882 |  |  |  | 55,568 |  |  |  | 1,734 |  |  |  | 2,659 |  |  |  | 3,635 |
France |  |  | 45,033 |  |  |  | 51,441 |  |  |  | 51,826 |  |  |  | 1,358 |  |  |  | 403 |  |  |  | 635 |
Scandinavia |  |  | 29,682 |  |  |  | 30,971 |  |  |  | 31,695 |  |  |  | 223 |  |  |  | 229 |  |  |  | 309 |
Other Countries |  |  | 260,400 |  |  |  | 276,479 |  |  |  | 284,434 |  |  |  | 5,604 |  |  |  | 4,302 |  |  |  | 3,844 |
Total |  | $ | 1,831,483 |  |  | $ | 1,800,069 |  |  | $ | 1,796,103 |  |  | $ | 298,005 |  |  | $ | 289,021 |  |  | $ | 289,934 |

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