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v3.20.2

Segment Information | 3 Months Ended
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Jul. 31, 2020
Segment Information [Abstract] |
Segment Information | Note 10 — Segment Information We report our segment information in accordance with the provisions of FASB ASC Topic 280, “Segment Reporting”. These segments reflect the way our chief operating decision maker evaluates our business performance and manages the operations. Segment information is as follows:
|  | Three Months Ended July 31, |
|  | 2020 |  |  | 2019 |
Revenue: |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 240,810 |  |  | $ | 229,375 |
Academic & Professional Learning |  |  | 126,913 |  |  |  | 144,858 |
Education Services |  |  | 63,603 |  |  |  | 49,297 |
Total Revenue |  | $ | 431,326 |  |  | $ | 423,530 |
Contribution to Profit: |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 69,818 |  |  | $ | 55,646 |
Academic & Professional Learning |  |  | (380 | ) |  |  | 4,911 |
Education Services |  |  | 558 |  |  |  | (7,199 | )
Total Contribution to Profit |  |  | 69,996 |  |  |  | 53,358 |
Corporate Expenses |  |  | (39,957 | ) |  |  | (48,799 | )
Operating Income |  | $ | 30,039 |  |  | $ | 4,559 |
Adjusted Contribution to Profit: (1) |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 69,621 |  |  | $ | 58,266 |
Academic & Professional Learning |  |  | (347 | ) |  |  | 7,716 |
Education Services |  |  | 697 |  |  |  | (5,110 | )
Total Adjusted Contribution to Profit |  |  | 69,971 |  |  |  | 60,872 |
Adjusted Corporate Expenses |  |  | (37,714 | ) |  |  | (45,578 | )
Total Adjusted Operating Income |  | $ | 32,257 |  |  | $ | 15,294 |
Depreciation and Amortization: |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 19,701 |  |  | $ | 17,153 |
Academic & Professional Learning |  |  | 18,804 |  |  |  | 16,524 |
Education Services |  |  | 7,279 |  |  |  | 5,498 |
Total Depreciation and Amortization |  |  | 45,784 |  |  |  | 39,175 |
Corporate Depreciation and Amortization |  |  | 3,723 |  |  |  | 3,044 |
Total Depreciation and Amortization |  | $ | 49,507 |  |  | $ | 42,219 |
Adjusted EBITDA:(2) |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 89,322 |  |  | $ | 75,419 |
Academic & Professional Learning |  |  | 18,457 |  |  |  | 24,240 |
Education Services |  |  | 7,976 |  |  |  | 388 |
Total Segment Adjusted EBITDA |  |  | 115,755 |  |  |  | 100,047 |
Corporate Adjusted EBITDA |  |  | (33,991 | ) |  |  | (42,534 | )
Total Adjusted EBITDA |  | $ | 81,764 |  |  | $ | 57,513 |
(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.
(2) | Adjusted EBITDA is Adjusted Contribution to Profit with depreciation and amortization added back.
The following table shows a reconciliation of our consolidated U.S. GAAP net income to Non-GAAP EBITDA and Adjusted EBITDA:
|  | Three Months Ended July 31, |
|  | 2020 |  |  | 2019 |
Net Income |  | $ | 16,334 |  |  | $ | 3,624 |
Interest expense |  |  | 4,614 |  |  |  | 6,077 |
Provision for income taxes |  |  | 13,400 |  |  |  | 343 |
Depreciation and amortization |  |  | 49,507 |  |  |  | 42,219 |
Non-GAAP EBITDA |  | $ | 83,855 |  |  | $ | 52,263 |
Restructuring and related charges |  |  | 2,218 |  |  |  | 10,735 |
Foreign exchange transaction losses (gains) |  |  | 82 |  |  |  | (2,652 | )
Interest and other income |  |  | (4,391 | ) |  |  | (2,833 | )
Non-GAAP Adjusted EBITDA |  | $ | 81,764 |  |  | $ | 57,513 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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