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Restructuring and Related Charges
 9 Months Ended
Jan. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Charges Restructuring and Related Charges
Global Restructuring Program

Beginning in fiscal year 2023, the Company initiated a global program (Global Restructuring Program) which was expanded in fiscal year 2024 to include those actions that will focus Wiley on its leading global position in the development and application of new knowledge and drive greater profitability, growth, and cash flow. We will focus on our strongest and most profitable businesses and large market opportunities in Research and Learning, as well as streamline our organization and rightsize our cost structure to reflect these portfolio actions. This program includes severance related charges for the elimination of certain positions, the exit of certain leased office space, and the reduction of our occupancy at other facilities. Under this program, we reduced our real estate square footage occupancy by approximately 35%.

The following tables summarize the pretax restructuring and related charges (credits) related to the Global Restructuring Program:

Three Months Ended
January 31,		Nine Months Ended
January 31,		Total Charges
Incurred to Date
2025202420252024
Charges (Credits) by Segment:
Research$939 $(749)$4,201 $5,953 $14,024 
Learning138 1,313 475 7,390 19,727 
Held for Sale or Sold— 1,498 (117)6,143 12,995 
Corporate Expenses4,537 12,352 12,285 31,463 80,534 
Total Restructuring and Related Charges$5,614 $14,414 $16,844 $50,949 $127,280 
Charges (Credits) by Activity:
Severance and termination benefits$4,030 $1,098 $12,056 $25,661 $66,439 
Impairment of operating lease ROU assets and property and equipment— 7,149 — 8,724 22,739 
Acceleration of expense related to operating lease ROU assets and property and equipment— 548 — 1,064 6,288 
Facility related charges, net1,294 1,531 4,061 2,918 12,465 
Consulting costs (credits)80 2,032 (592)7,821 10,660 
Other activities210 2,056 1,319 4,761 8,689 
Total Restructuring and Related Charges$5,614 $14,414 $16,844 $50,949 $127,280 

The severance related charges are for certain employees affected by the reduction in force under this program who are entitled to severance payments and certain termination benefits. The credits in Research for the three months ended January 31, 2024 relate to severance and termination benefits activities primarily due to changes in the number of headcount reductions, and estimates for previously accrued costs.

The impairment charges include the impairment of operating lease ROU assets related to certain leases that will be subleased, and the related property and equipment described further below. In the three and nine months ended January 31, 2024, these charges were recorded in Corporate Expenses and the Research segment.
Due to the actions taken above, we tested the operating lease ROU assets and the related property and equipment for those being subleased for recoverability by comparing the carrying value of the asset group to an estimate of the future undiscounted cash flows expected to result from the use and eventual disposition of the asset group. Based on the results of the recoverability test, we determined that the undiscounted cash flows of the asset groups were below the carrying values. Therefore, there was an indication of impairment. We then determined the fair value of the asset groups by utilizing the present value of the estimated future cash flows attributable to the assets. The fair value of the operating lease ROU assets and the property and equipment immediately subsequent to the impairment was $8.7 million in the nine months ended January 31, 2024 and was categorized as Level 3 within the fair value hierarchy.

In the three and nine months ended January 31, 2024, the acceleration of expense includes the acceleration of rent expense associated with operating lease ROU assets related to certain leases that will be abandoned or terminated, and the related depreciation and amortization of property and equipment.

In addition, we incurred ongoing facility-related costs associated with certain properties, consulting costs (credits), and other costs for other activities, which includes relocation and other employee related costs. In the nine months ended January 31, 2025, the credits in consulting costs are due to changes in the estimates for previously accrued costs.

The following table summarizes the activity for the Global Restructuring Program liability for the nine months ended January 31, 2025:

April 30, 2024Charges (Credits)
Payments
Foreign
Translation
& Other Adjustments
January 31, 2025
Severance and termination benefits$5,396 $12,056 $(10,583)$(1,128)$5,741 
Consulting costs1,794 (592)(1,341)139 — 
Other activities1,879 1,319 (2,332)(803)63 
Total$9,069 $12,783 $(14,256)$(1,792)$5,804 

Approximately $4.7 million of the restructuring liability for accrued severance and termination benefits is reflected in Accrued employment costs and approximately $1.0 million is reflected in Other long-term liabilities on our Unaudited Condensed Consolidated Statement of Financial Position. The liability for Other activities is reflected in Other accrued liabilities on our Unaudited Condensed Consolidated Statement of Financial Position.

Business Optimization Program

For the three and nine months ended January 31, 2025, we recorded net pretax restructuring credits of less than $(0.1) million and $(3.8) million, respectively, related to this program. The net credits in the nine months ended January 31, 2025 are primarily due to the termination of a portion of a lease that was previously impaired in our Corporate Expenses category.

For the three and nine months ended January 31, 2024, we recorded pretax restructuring charges of $0.4 million and $1.1 million, respectively, related to this program.

As of fiscal year 2023, we substantially completed this program and we have no restructuring liability outstanding. We currently anticipate immaterial ongoing facility charges and do not anticipate any further material charges related to the Business Optimization Program.