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Segment Information (Tables)

9 Months Ended

Jan. 31, 2020

Segment Information [Abstract]

Segment Information

Segment information is as follows:

		Three Months Ended January 31,								Nine Months Ended January 31,
		2020				2019				2020				2019
Revenue:
Research Publishing & Platforms		$	233,556			$	227,037			$	697,640			$	681,429
Academic & Professional Learning			178,278				176,123				500,861				522,217
Education Services			55,297				46,207				158,365				105,244
Total Revenue		$	467,131			$	449,367			$	1,356,866			$	1,308,890
Contribution to Profit:
Research Publishing & Platforms		$	63,861			$	60,863			$	182,798			$	177,390
Academic & Professional Learning			28,793				37,536				68,754				106,381
Education Services			(5,166	)			(7,589	)			(9,782	)			(13,475	)
Total Contribution to Profit		$	87,488			$	90,810			$	241,770			$	270,296
Corporate Expenses			(38,994	)			(40,464	)			(125,326	)			(126,335	)
Operating Income		$	48,494			$	50,346			$	116,444			$	143,961
Adjusted Contribution to Profit: (1)
Research Publishing & Platforms		$	63,901			$	60,812			$	186,184			$	178,641
Academic & Professional Learning			30,334				37,334				73,900				107,656
Education Services			(5,162	)			(7,317	)			(8,164	)			(13,101	)
Total Adjusted Contribution to Profit		$	89,073			$	90,829			$	251,920			$	273,196
Adjusted Corporate Expenses			(37,281	)			(40,831	)			(117,442	)			(125,673	)
Total Adjusted Operating Income		$	51,792			$	49,998			$	134,478			$	147,523
Depreciation and Amortization:
Research Publishing & Platforms		$	17,056			$	14,651			$	51,246			$	45,438
Academic & Professional Learning			17,806				16,026				51,679				51,076
Education Services			5,987				5,725				17,007				12,237
Total Depreciation and Amortization		$	40,849			$	36,402			$	119,932			$	108,751
Corporate Depreciation and Amortization			2,832				3,431				8,606				10,905
Total Depreciation and Amortization		$	43,681			$	39,833			$	128,538			$	119,656
Adjusted EBITDA: (2)
Research Publishing & Platforms		$	80,957			$	75,463			$	237,430			$	224,079
Academic & Professional Learning			48,140				53,360				125,579				158,732
Education Services			825				(1,592	)			8,843				(864	)
Total Segment Adjusted EBITDA		$	129,922			$	127,231			$	371,852			$	381,947
Corporate Adjusted EBITDA			(34,449	)			(37,400	)			(108,836	)			(114,768	)
Total Adjusted EBITDA		$	95,473			$	89,831			$	263,016			$	267,179

⁽¹⁾ Adjusted Contribution to Profit is Contribution to Profit adjusted for restructuring charges (credits). See Note 9, “Restructuring and Related Charges” for these charges (credits) by segment.

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 income to Non-GAAP EBITDA and Adjusted EBITDA:

		Three Months Ended January 31,								Nine Months Ended January 31,
		2020				2019				2020				2019
Net Income		$	35,443			$	34,942			$	83,757			$	105,021
Interest expense			6,309				5,346				19,173				11,750
Provision for income taxes			9,229				10,275				21,355				30,599
Depreciation and amortization			43,681				39,833				128,538				119,656
Non-GAAP EBITDA		$	94,662			$	90,396			$	252,823			$	267,026
Restructuring and related charges (credits)			3,298				(348	)			18,034				3,562
Foreign exchange transaction losses			1,745				2,525				1,761				4,308
Interest and other income			(4,232	)			(2,742	)			(9,602	)			(7,717	)
Non-GAAP Adjusted EBITDA		$	95,473			$	89,831			$	263,016			$	267,179

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Tabular disclosure of the reconciliation of GAAP net income (loss) to Non-GAAP EBITDA and adjusted EBITDA.

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-Name Accounting Standards Codification
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