XML 83 R50.htm IDEA: XBRL DOCUMENT
v3.21.2

Retirement Plans (Tables) | 12 Months Ended
--- | ---
Apr. 30, 2021
Retirement Plans [Abstract] |
Net Periodic Pension Expense (Income) for Defined Benefit Plans and Weighted-Average Assumptions | The components of net pension expense (income) for the defined benefit plans and the weighted average assumptions were as follows:
|  | For the Years Ended April 30, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
|  | US |  |  | Non-US |  |  | US |  |  | Non-US |  |  | US |  |  | Non-US |
Service cost |  | $ | — |  |  | $ | 1,396 |  |  | $ | — |  |  | $ | 1,851 |  |  | $ | — |  |  | $ | 912 |
Interest cost |  |  | 9,504 |  |  |  | 8,901 |  |  |  | 11,247 |  |  |  | 12,652 |  |  |  | 11,704 |  |  |  | 12,943 |
Expected return on plan assets |  |  | (11,969 | ) |  |  | (26,971 | ) |  |  | (14,038 | ) |  |  | (26,116 | ) |  |  | (13,472 | ) |  |  | (25,551 | )
Amortization of prior service cost |  |  | (154 | ) |  |  | 58 |  |  |  | (154 | ) |  |  | 73 |  |  |  | (154 | ) |  |  | 57 |
Amortization of net actuarial loss |  |  | 3,501 |  |  |  | 4,516 |  |  |  | 2,403 |  |  |  | 3,993 |  |  |  | 2,035 |  |  |  | 3,746 |
Curtailment/settlement loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 291 |  |  |  | — |  |  |  | — |
Net pension expense (income) |  | $ | 882 |  |  | $ | (12,100 | ) |  | $ | (542 | ) |  | $ | (7,256 | ) |  | $ | 113 |  |  | $ | (7,893 | )
Discount rate |  |  | 3.1 | % |  |  | 1.6 | % |  |  | 4.1 | % |  |  | 2.4 | % |  |  | 4.3 | % |  |  | 2.6 | %
Rate of compensation increase |  |  | N/A |  |  |  | 3.0 | % |  |  | N/A |  |  |  | 3.0 | % |  |  | N/A |  |  |  | 3.0 | %
Expected return on plan assets |  |  | 5.8 | % |  |  | 5.7 | % |  |  | 6.8 | % |  |  | 6.5 | % |  |  | 6.8 | % |  |  | 6.5 | %
Changes in and Status of Plans' Assets and Benefit Obligations | The following table sets forth the changes in and the status of our defined benefit plans’ assets and benefit obligations:
|  | 2021 |  |  | 2020 |
|  | US |  |  | Non-US |  |  | US |  |  | Non-US |
CHANGE IN PLAN ASSETS |  |  |  |  |  |  |  |  |  |  |  |
Fair value of plan assets, beginning of year |  | $ | 213,946 |  |  | $ | 445,480 |  |  | $ | 213,628 |  |  | $ | 408,249 |
Actual return on plan assets |  |  | 34,560 |  |  |  | 27,971 |  |  |  | 11,645 |  |  |  | 48,602 |
Employer contributions |  |  | 5,599 |  |  |  | 12,203 |  |  |  | 3,700 |  |  |  | 11,686 |
Employee contributions |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Settlements |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (1,459 | )
Benefits paid |  |  | (16,976 | ) |  |  | (11,921 | ) |  |  | (15,027 | ) |  |  | (9,162 | )
Foreign currency rate changes |  |  | — |  |  |  | 50,153 |  |  |  | — |  |  |  | (12,436 | )
Fair value, end of year |  | $ | 237,129 |  |  | $ | 523,886 |  |  | $ | 213,946 |  |  | $ | 445,480 |
CHANGE IN PROJECTED BENEFIT OBLIGATION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Benefit obligation, beginning of year |  | $ | (318,967 | ) |  | $ | (534,303 | ) |  | $ | (285,197 | ) |  | $ | (509,015 | )
Service cost |  |  | — |  |  |  | (1,396 | ) |  |  | — |  |  |  | (1,851 | )
Interest cost |  |  | (9,504 | ) |  |  | (8,901 | ) |  |  | (11,247 | ) |  |  | (12,652 | )
Actuarial gains (losses) |  |  | 8,863 |  |  |  | (17,739 | ) |  |  | (37,550 | ) |  |  | (36,287 | )
Benefits paid |  |  | 16,976 |  |  |  | 11,921 |  |  |  | 15,027 |  |  |  | 9,162 |
Foreign currency rate changes |  |  | — |  |  |  | (59,046 | ) |  |  | — |  |  |  | 15,176 |
Settlements and other |  |  | — |  |  |  | (150 | ) |  |  | — |  |  |  | 1,164 |
Benefit obligation, end of year |  | $ | (302,632 | ) |  | $ | (609,614 | ) |  | $ | (318,967 | ) |  | $ | (534,303 | )
Underfunded status, end of year |  | $ | (65,503 | ) |  | $ | (85,728 | ) |  | $ | (105,021 | ) |  | $ | (88,823 | )
AMOUNTS RECOGNIZED ON THE STATEMENT OF FINANCIAL POSITION |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Noncurrent assets |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |
Current pension liability |  |  | (3,576 | ) |  |  | (1,414 | ) |  |  | (4,990 | ) |  |  | (885 | )
Noncurrent pension liability |  |  | (61,927 | ) |  |  | (84,320 | ) |  |  | (100,031 | ) |  |  | (87,938 | )
Net amount recognized in statement of financial position |  | $ | (65,503 | ) |  | $ | (85,728 | ) |  | $ | (105,021 | ) |  | $ | (88,823 | )
AMOUNTS RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS (BEFORE TAX) CONSIST OF |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net actuarial (losses) |  | $ | (96,613 | ) |  | $ | (213,958 | ) |  | $ | (131,569 | ) |  | $ | (181,403 | )
Prior service cost gains (losses) |  |  | 2,100 |  |  |  | (1,299 | ) |  |  | 2,254 |  |  |  | (1,051 | )
Total accumulated other comprehensive loss |  | $ | (94,513 | ) |  | $ | (215,257 | ) |  | $ | (129,315 | ) |  | $ | (182,454 | )
Change in accumulated other comprehensive loss |  | $ | 34,802 |  |  | $ | (32,803 | ) |  | $ | (37,695 | ) |  | $ | (4,143 | )
INFORMATION FOR PENSION PLANS WITH AN ACCUMULATED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accumulated benefit obligation |  | $ | 302,632 |  |  | $ | 566,998 |  |  | $ | 318,967 |  |  | $ | 497,489 |
Fair value of plan assets |  | $ | 237,129 |  |  | $ | 513,279 |  |  | $ | 213,946 |  |  | $ | 445,480 |
INFORMATION FOR PENSION PLANS WITH A PROJECTED BENEFIT OBLIGATION IN EXCESS OF PLAN ASSETS |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Projected benefit obligation |  | $ | 302,632 |  |  | $ | 599,011 |  |  | $ | 318,967 |  |  | $ | 534,303 |
Fair value of plan assets |  | $ | 237,129 |  |  | $ | 513,279 |  |  | $ | 213,946 |  |  | $ | 445,480 |
WEIGHTED AVERAGE ASSUMPTIONS USED IN DETERMINING ASSETS AND LIABILITIES |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Discount rate |  |  | 3.2 | % |  |  | 1.9 | % |  |  | 3.1 | % |  |  | 1.6 | %
Rate of compensation increase |  |  | N/A |  |  |  | 3.0 | % |  |  | N/A |  |  |  | 3.0 | %
Accumulated benefit obligations |  | $ | (302,632 | ) |  | $ | (577,600 | ) |  | $ | (318,967 | ) |  | $ | (497,489 | )
Pension Plan Assets at Fair Value by Level Within Fair Value Hierarchy | The following tables set forth, by level within the fair value hierarchy, pension plan assets at their fair value as of April 30:
|  | 2021 |  |  | 2020 |
|  | Level 1 |  |  | Level 2 |  |  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Total |
US Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investments measured at NAV: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global equity securities: Limited partnership |  |  |  |  |  |  |  | $ | 121,569 |  |  |  |  |  |  |  |  | $ | 110,965 |
Fixed income securities: Commingled trust funds |  |  |  |  |  |  |  |  | 115,560 |  |  |  |  |  |  |  |  |  | 102,981 |
Total assets at NAV |  |  |  |  |  |  |  | $ | 237,129 |  |  |  |  |  |  |  |  | $ | 213,946 |
Non-US Plan Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equity securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
US equities |  | $ | — |  |  | $ | 51,882 |  |  | $ | 51,882 |  |  | $ | — |  |  | $ | 36,842 |  |  | $ | 36,842 |
Non-US equities |  |  | — |  |  |  | 124,496 |  |  |  | 124,496 |  |  |  | — |  |  |  | 103,460 |  |  |  | 103,460 |
Balanced managed funds |  |  | — |  |  |  | 103,717 |  |  |  | 103,717 |  |  |  | — |  |  |  | 44,989 |  |  |  | 44,989 |
Fixed income securities: Commingled funds |  |  | 1,444 |  |  |  | 236,583 |  |  |  | 238,027 |  |  |  | 3,431 |  |  |  | 254,134 |  |  |  | 257,565 |
Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate/other |  |  | — |  |  |  | 543 |  |  |  | 543 |  |  |  | — |  |  |  | 490 |  |  |  | 490 |
Cash and cash equivalents |  |  | 5,221 |  |  |  | — |  |  |  | 5,221 |  |  |  | 2,134 |  |  |  | — |  |  |  | 2,134 |
Total Non-US plan assets |  | $ | 6,665 |  |  | $ | 517,221 |  |  | $ | 523,886 |  |  | $ | 5,565 |  |  | $ | 439,915 |  |  | $ | 445,480 |
Total plan assets |  | $ | 6,665 |  |  | $ | 517,221 |  |  | $ | 761,015 |  |  | $ | 5,565 |  |  | $ | 439,915 |  |  | $ | 659,426 |
Expected Future Benefit Payments | Benefit payments to retirees from all defined benefit plans are expected to be the following in the fiscal year indicated:
Fiscal Year |  | US |  | Non-US |  | Total
2022 |  | $ | 15,305 |  | $ | 12,211 |  | $ | 27,516
2023 |  |  | 15,446 |  |  | 11,769 |  |  | 27,215
2024 |  |  | 15,593 |  |  | 12,606 |  |  | 28,199
2025 |  |  | 15,024 |  |  | 14,817 |  |  | 29,841
2026 |  |  | 15,064 |  |  | 14,004 |  |  | 29,068
2027 – 2031 |  |  | 75,870 |  |  | 83,009 |  |  | 158,879
Total |  | $ | 152,302 |  | $ | 148,416 |  | $ | 300,718

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans and the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost. + References No definition available. + Details
Name: | jwa_ComponentsOfNetPeriodicPensionExpenseForDefinedBenefitPlansAndWeightedAverageAssumptionsTableTextBlock
Namespace Prefix: | jwa_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration