XML 29 R19.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information
 9 Months Ended
Jan. 31, 2023
Segment Reporting [Abstract]  
Segment Information Segment Information
We have reorganized our Education lines of business into two new customer-centric segments. The Academic segment addresses the university customer group and includes Academic Publishing and University Services. The Talent segment addresses the corporate customer group and will be focused on delivering training, sourcing, and upskilling solutions. Prior period segment results have been revised to the new segment presentation. There were no changes to our consolidated financial results. Our new segment reporting structure consists of three reportable segments, as well as a Corporate expense category (no change), which includes certain costs that are not allocated to the reportable segments:
•Research, includes Research Publishing and Research Solutions, and no changes were made as a result of this realignment;
•Academic, includes the Academic Publishing and University Services lines. Academic Publishing is the combination of the former Education Publishing line and professional publishing offerings;
•Talent, is the combination of the former Talent Development line, and our corporate training and corporate learning offerings.
We report our segment information in accordance with the provisions of FASB Accounting Standards Codification (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.
Segment information is as follows:
Three Months Ended
January 31,		Nine Months Ended
January 31,
2023202220232022
Revenue:
Research$253,600 $263,341 $799,872 $813,251 
Academic177,515 199,018 507,620 569,742 
Talent
60,253 53,525 186,281 154,282 
Total revenue$491,368 $515,884 $1,493,773 $1,537,275 
    
Adjusted Contribution to Profit:    
Research$57,177 $62,165 $200,739 $218,242 
Academic20,988 31,972 31,492 68,828 
Talent (1)
5,315 5,676 24,882 16,615 
Total adjusted contribution to profit83,480 99,813 257,113 303,685 
Adjusted corporate contribution to profit(38,258)(53,376)(130,426)(144,001)
Total adjusted operating income$45,222 $46,437 $126,687 $159,684 
    
Depreciation and Amortization:    
Research$23,123 $23,914 $70,308 $71,140 
Academic19,922 19,693 61,547 61,622 
Talent (1)
5,458 5,605 19,282 17,304 
Total depreciation and amortization48,503 49,212 151,137 150,066 
Corporate depreciation and amortization3,939 4,151 12,005 12,418 
Total depreciation and amortization$52,442 $53,363 $163,142 $162,484 
(1)
On January 1, 2020, Wiley acquired mthree, a talent placement provider that addresses the IT skills gap by finding, training, and placing job-ready technology talent in roles with leading corporations worldwide. Its results of operations are included in our Talent segment. In late May 2022, Wiley renamed the mthree talent development solution to Wiley Edge and discontinued use of the mthree trademark during the three months ended July 31, 2022. As a result of these actions, we determined that a revision of the useful life was warranted and the intangible asset was fully amortized over its remaining useful life resulting in accelerated amortization expense of $4.6 million in the three months ended July 31, 2022. This amortization expense was an adjustment to the Talent Adjusted contribution to profit. In addition, it was included in Depreciation and amortization in the table above for segment reporting.
The following table shows a reconciliation of our consolidated US GAAP Operating (Loss) Income to Non-GAAP Adjusted Operating Income:
Three Months Ended
January 31,		Nine Months Ended
January 31,
2023202220232022
US GAAP Operating (Loss) Income$(67,056)$45,989 $(26,582)$160,845 
Adjustments:    
Restructuring and related charges (credits) (1)
8,807 448 45,204 (1,161)
Impairment of goodwill (2)
99,800 — 99,800 — 
Legal settlement (3)
3,671 — 3,671 — 
Accelerated amortization of an intangible asset (4)
— — 4,594 — 
Non-GAAP Adjusted Operating Income$45,222 $46,437 $126,687 $159,684 
(1)
See Note 9, “Restructuring and Related Charges (Credits)” for these charges by segment.
(2)See Note 12, "Goodwill and Intangible Assets" for these charges by segment.
(3)
In the three months ended January 31, 2023, we settled a litigation matter related to consideration for a previous acquisition for $3.7 million which is included in our Corporate category.
(4)
As described above, this accelerated amortization relates to the mthree trademark.
See Note 4, “Revenue Recognition, Contracts with Customers,” for revenue from contracts with customers disaggregated by segment and product type for the three and nine months ended January 31, 2023 and 2022.