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Segment Information | 12 Months Ended
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Apr. 30, 2021
Segment Information [Abstract] |
Segment Information | Note 20 – 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. The performance metric used by our chief operating decision maker to evaluate performance of our reportable segments is Adjusted Contribution to Profit. Our segment reporting structure consists of three reportable segments, which are listed below, as well as a Corporate category, which includes certain costs that are not allocated to the reportable segments:
| • | Research Publishing & Platforms
| • | Academic & Professional Learning
| • | Education Services
Segment information is as follows:
|  | For the Years Ended April 30, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Revenue: |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 1,015,349 |  |  | $ | 948,839 |  |  | $ | 939,217 |
Academic & Professional Learning |  |  | 644,537 |  |  |  | 650,789 |  |  |  | 703,303 |
Education Services |  |  | 281,615 |  |  |  | 231,855 |  |  |  | 157,549 |
Total revenue |  | $ | 1,941,501 |  |  | $ | 1,831,483 |  |  | $ | 1,800,069 |
Adjusted Contribution to Profit: |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 273,023 |  |  | $ | 265,353 |  |  | $ | 260,885 |
Academic & Professional Learning |  |  | 91,676 |  |  |  | 84,646 |  |  |  | 147,404 |
Education Services |  |  | 21,175 |  |  |  | (3,844 | ) |  |  | (12,883 | )
Total adjusted contribution to profit |  | $ | 385,874 |  |  | $ | 346,155 |  |  | $ | 395,406 |
Adjusted corporate contribution to profit |  |  | (167,053 | ) |  |  | (165,487 | ) |  |  | (168,299 | )
Total adjusted contribution to profit |  | $ | 218,821 |  |  | $ | 180,668 |  |  | $ | 227,107 |
Depreciation and Amortization: |  |  |  |  |  |  |  |  |  |  |  |
Research Publishing & Platforms |  | $ | 83,866 |  |  | $ | 69,495 |  |  | $ | 60,889 |
Academic & Professional Learning |  |  | 71,997 |  |  |  | 69,807 |  |  |  | 68,126 |
Education Services |  |  | 29,654 |  |  |  | 24,131 |  |  |  | 18,117 |
Total depreciation and amortization |  | $ | 185,517 |  |  | $ | 163,433 |  |  | $ | 147,132 |
Corporate depreciation and amortization |  |  | 14,672 |  |  |  | 11,694 |  |  |  | 14,023 |
Total depreciation and amortization |  | $ | 200,189 |  |  | $ | 175,127 |  |  | $ | 161,155 |
The following table shows a reconciliation of our consolidated US GAAP Operating Income (Loss) to Non-GAAP Adjusted Contribution to Profit:
|  | For the Years Ended April 30, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
US GAAP Operating Income (Loss) |  | $ | 185,511 |  |  | $ | (54,287 | ) |  | $ | 223,989 |
Adjustments: |  |  |  |  |  |  |  |  |  |  |  |
Restructuring and related charges (1) |  |  | 33,310 |  |  |  | 32,607 |  |  |  | 3,118 |
Impairment of goodwill (1) |  |  | — |  |  |  | 110,000 |  |  |  | — |
Impairment of Blackwell trade name (1) |  |  | — |  |  |  | 89,507 |  |  |  | — |
Impairment of developed technology intangible (1) |  |  | — |  |  |  | 2,841 |  |  |  | — |
Non-GAAP Adjusted Contribution to Profit |  | $ | 218,821 |  |  | $ | 180,668 |  |  | $ | 227,107 |
(1) | See Note 7, “Restructuring and Related Charges” and Note 11, “Goodwill and Intangible Assets” for these charges 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, 2021, 2020, and 2019. The following tables shows assets allocated by reportable segment and by the corporate category as of April 30 as follows:
|  | 2021 |  |  | 2020 |  |  | 2019 |
Research Publishing & Platforms |  | $ | 1,692,366 |  |  | $ | 1,225,313 |  |  | $ | 1,172,145 |
Academic & Professional Learning |  |  | 946,760 |  |  |  | 924,924 |  |  |  | 959,601 |
Education Services |  |  | 472,814 |  |  |  | 486,316 |  |  |  | 440,516 |
Corporate |  |  | 334,499 |  |  |  | 532,241 |  |  |  | 376,504 |
Total |  | $ | 3,446,439 |  |  | $ | 3,168,794 |  |  | $ | 2,948,766 |
The following table shows product development spending and additions to technology, property and equipment by reportable segment and by the corporate category:
|  | For the Years Ended April 30, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Research Publishing & Platforms |  | $ | (24,284 | ) |  | $ | (16,329 | ) |  | $ | (12,928 | )
Academic & Professional Learning |  |  | (41,897 | ) |  |  | (38,229 | ) |  |  | (32,337 | )
Education Services |  |  | (3,449 | ) |  |  | (613 | ) |  |  | (3,160 | )
Corporate |  |  | (33,731 | ) |  |  | (60,030 | ) |  |  | (53,168 | )
Total |  | $ | (103,361 | ) |  | $ | (115,201 | ) |  | $ | (101,593 | )
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 |
|  | 2021 |  |  | 2020 |  |  | 2019 |  |  | 2021 |  |  | 2020 |  |  | 2019 |
United States |  | $ | 990,499 |  |  | $ | 944,075 |  |  | $ | 932,927 |  |  | $ | 241,217 |  |  | $ | 261,296 |  |  | $ | 252,459 |
United Kingdom |  |  | 145,806 |  |  |  | 174,567 |  |  |  | 150,242 |  |  |  | 19,436 |  |  |  | 18,076 |  |  |  | 18,331 |
China |  |  | 92,305 |  |  |  | 58,870 |  |  |  | 55,024 |  |  |  | 567 |  |  |  | 492 |  |  |  | 688 |
Japan |  |  | 91,957 |  |  |  | 75,104 |  |  |  | 77,145 |  |  |  | 234 |  |  |  | 112 |  |  |  | 87 |
Germany |  |  | 78,035 |  |  |  | 113,664 |  |  |  | 97,505 |  |  |  | 8,459 |  |  |  | 8,059 |  |  |  | 8,423 |
Canada |  |  | 67,635 |  |  |  | 56,370 |  |  |  | 50,882 |  |  |  | 1,067 |  |  |  | 1,734 |  |  |  | 2,659 |
Australia |  |  | 57,569 |  |  |  | 73,718 |  |  |  | 77,453 |  |  |  | 890 |  |  |  | 1,051 |  |  |  | 1,440 |
France |  |  | 45,681 |  |  |  | 45,033 |  |  |  | 51,441 |  |  |  | 4,329 |  |  |  | 1,358 |  |  |  | 403 |
Scandinavia |  |  | 39,836 |  |  |  | 29,682 |  |  |  | 30,971 |  |  |  | 112 |  |  |  | 223 |  |  |  | 229 |
Other Countries |  |  | 332,178 |  |  |  | 260,400 |  |  |  | 276,479 |  |  |  | 5,959 |  |  |  | 5,604 |  |  |  | 4,302 |
Total |  | $ | 1,941,501 |  |  | $ | 1,831,483 |  |  | $ | 1,800,069 |  |  | $ | 282,270 |  |  | $ | 298,005 |  |  | $ | 289,021 |

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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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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=123359005&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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