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Schedule II-VALUATION AND QUALIFYING ACCOUNTS
 12 Months Ended
Apr. 30, 2023
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure
Schedule II
JOHN WILEY & SONS, INC. AND SUBSIDIARIES
VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED APRIL 30, 2023, 2022, AND 2021
(Dollars in thousands)
DescriptionBalance at
Beginning
of Period
Cumulative Effect of
Change in Accounting
Principle(1)
Charged to
Expenses
Deductions
From Reserves
and Other(2)
Balance at
End of Period
Year Ended April 30, 2023
Allowance for sales returns(4)
$19,422 $— $24,439 $29,442 $14,419 
Allowance for doubtful accounts$21,221 $— $347 $2,906 $18,662 
Allowance for inventory obsolescence$11,219 $— $7,222 $5,451 $12,990 
Valuation allowance on deferred tax assets(3)
$30,000 $— $(4,037)$(1,485)$27,448 
Year Ended April 30, 2022
Allowance for sales returns(4)
$22,199 $— $29,191 $31,968 $19,422 
Allowance for doubtful accounts$21,474 $— $4,029 $4,282 $21,221 
Allowance for inventory obsolescence$13,970 $— $6,786 $9,537 $11,219 
Valuation allowance on deferred tax assets(3)
$4,855 $— $230 $(24,915)$30,000 
Year Ended April 30, 2021
Allowance for sales returns(4)
$19,642 $— $36,997 $34,440 $22,199 
Allowance for doubtful accounts$18,335 $1,776 $6,957 $5,594 $21,474 
Allowance for inventory obsolescence$16,067 $— $9,236 $11,333 $13,970 
Valuation allowance on deferred tax assets(3)
$23,287 $— $3,213 $21,645 $4,855 
(1)
See Note 2, “Summary of Significant Accounting Policies, Recently Issued, and Recently Adopted Accounting Standards” of the Notes to Consolidated Financial Statements of this Annual Report on Form 10-K regarding the adoption of ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.” We adopted the new standard on May 1, 2020, with a cumulative effect adjustment to retained earnings as of the beginning of the year of adoption.
(2)
Deductions From Reserves and Other for the years ended April 30, 2023, 2022, and 2021 include foreign exchange translation adjustments. Included in Allowance for doubtful accounts are accounts written off, less recoveries. Included in Allowance for inventory obsolescence are items removed from inventory.
(3)
Included in Valuation allowance on deferred tax assets for the years ended April 30, 2023, 2022, and 2021 are valuation allowances related to, and required with respect to, foreign tax credits generated by tax reform enacted in December 2017. In connection with a 5-year loss carryback and a subsequent audit, certain foreign tax credits requiring a valuation allowance were reinstated.
(4)
Allowance for sales returns represents anticipated returns net of a recovery of inventory and royalty costs. The provision is reported as a reduction of gross sales to arrive at revenue and the reserve balance is reported as an increase in Contract liabilities with a corresponding increase in Inventories, net and a reduction in Accrued royalties for the years ended April 30, 2023, 2022, and 2021.