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Segment Information | 9 Months Ended
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Jan. 31, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information On June 1, 2023, Wiley’s Board of Directors approved a plan to divest certain businesses that we determined are non-core businesses. Those businesses are University Services, Wiley Edge, and CrossKnowledge. On January 1, 2024 we completed the sale of University Services, and on January 8, 2024 we signed an agreement to sell Wiley Edge. We expect to complete the sale of Wiley Edge and CrossKnowledge by the first quarter of fiscal year 2025. As a result of these planned divestitures, in the three months ended July 31, 2023 we reorganized our segments and our new structure consists of three reportable segments which includes Research (no change), Learning, and Held for Sale or Sold, as well as a Corporate expense category (no change), which includes certain costs that are not allocated to the reportable segments. The operations of University Services, Wiley Edge, and CrossKnowledge are reported in the Held for Sale or Sold segment until sold. Prior period segment results have been revised to the new segment presentation. There were no changes to our consolidated financial results. •Research is unchanged and includes the reporting lines of Research Publishing and Research Solutions; •Learning includes the Academic and Professional reporting lines and consists of publishing and related knowledge solutions; •Held for Sale or Sold includes businesses held-for-sale including Wiley Edge and CrossKnowledge, as well as those sold in fiscal year 2024 which includes University Services and Tuition Manager, and in fiscal year 2023 Test Prep and Advancement Courses. We report our segment information in accordance with the provisions of 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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Revenue: |  |  |  |  |  |  |
Research | $ | 256,199 |  |  | $ | 253,600 |  |  | $ | 771,673 |  |  | $ | 799,872 |
Learning | 146,334 |  |  | 143,243 |  |  | 404,594 |  |  | 402,539 |
Held for Sale or Sold | 58,172 |  |  | 94,525 |  |  | 228,259 |  |  | 291,362 |
Total revenue | $ | 460,705 |  |  | $ | 491,368 |  |  | $ | 1,404,526 |  |  | $ | 1,493,773 |
Adjusted Contribution to Profit: |  |  |  |  |  |  |
Research | $ | 57,098 |  |  | $ | 57,177 |  |  | $ | 169,481 |  |  | $ | 200,739 |
Learning | 37,513 |  |  | 29,868 |  |  | 85,051 |  |  | 67,185 |
Held for Sale or Sold | 4,118 |  |  | (3,565) |  |  | 26,302 |  |  | (10,811) |
Total adjusted contribution to profit | 98,729 |  |  | 83,480 |  |  | 280,834 |  |  | 257,113 |
Adjusted corporate contribution to profit | (48,578) |  |  | (38,258) |  |  | (136,873) |  |  | (130,426) |
Less: Held for Sale or Sold Segment Adjusted Contribution to Profit (1) | (4,118) |  |  | 3,565 |  |  | (26,302) |  |  | 10,811 |
Total adjusted operating income | $ | 46,033 |  |  | $ | 48,787 |  |  | $ | 117,659 |  |  | $ | 137,498 |
Depreciation and Amortization: |  |  |  |  |  |  |
Research | $ | 22,029 |  |  | $ | 23,123 |  |  | $ | 67,909 |  |  | $ | 70,308 |
Learning | 13,812 |  |  | 14,490 |  |  | 41,338 |  |  | 42,445 |
Held for Sale or Sold (2) | — |  |  | 10,890 |  |  | 3,437 |  |  | 38,384 |
Total depreciation and amortization | 35,841 |  |  | 48,503 |  |  | 112,684 |  |  | 151,137 |
Corporate depreciation and amortization (3) | 9,633 |  |  | 3,939 |  |  | 16,692 |  |  | 12,005 |
Total depreciation and amortization | $ | 45,474 |  |  | $ | 52,442 |  |  | $ | 129,376 |  |  | $ | 163,142 |
(1) | Our Adjusted Operating Income excludes the impact of our Held for Sale or Sold Segment Adjusted Operating Income or Loss results.
(2) | We ceased to record depreciation and amortization of long-lived assets for these businesses as of the date the assets were classified as held-for-sale. 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 Held for Sale or Sold 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 Held for Sale or Sold Adjusted contribution to profit. In addition, it was included in Depreciation and amortization in the table above.
(3) | As a result of our decision to discontinue the use of certain capitalized software included in Technology, property, and equipment, net on our Unaudited Condensed Consolidated Statement of Financial Position, we recorded a pretax noncash impairment charge of $6.4 million in the three and nine months ended January 31, 2024. The impairment charge was included in Corporate depreciation and amortization reflected in Operating and administrative expenses on our Unaudited Condensed Consolidated Statements of Net Loss.
The following table shows a reconciliation of our consolidated US GAAP Operating Loss to Non-GAAP Adjusted Operating Income:
| Three Months Ended January 31, |  | Nine Months Ended January 31,
| 2024 |  | 2023 |  | 2024 |  | 2023
US GAAP Operating Loss | $ | (46,411) |  |  | $ | (67,056) |  |  | $ | (16,521) |  |  | $ | (26,582) |
Adjustments: |  |  |  |  |  |  |
Restructuring and related charges (1) | 14,808 |  |  | 8,807 |  |  | 52,033 |  |  | 45,204 |
Impairment of goodwill (1) | 81,754 |  |  | 99,800 |  |  | 108,449 |  |  | 99,800 |
Legal settlement (2) | — |  |  | 3,671 |  |  | — |  |  | 3,671 |
Accelerated amortization of an intangible asset (3) | — |  |  | — |  |  | — |  |  | 4,594 |
Held for Sale or Sold segment Adjusted Contribution to Profit (4) | (4,118) |  |  | 3,565 |  |  | (26,302) |  |  | 10,811 |
Non-GAAP Adjusted Operating Income | $ | 46,033 |  |  | $ | 48,787 |  |  | $ | 117,659 |  |  | $ | 137,498 |
(1) | See Note 9, “Restructuring and Related Charges” and Note 12, “Goodwill and Intangible Assets” for these charges by segment.
(2) | 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 Corporate Expenses.
(3) | As described above, this accelerated amortization relates to the mthree trademark.
(4) | Our Adjusted Operating Income excludes the impact of our Held for Sale or Sold segment Adjusted Operating Income or Loss results.
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, 2024 and 2023.

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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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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