v2.3.0.11
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
In Millions
3 Months Ended
Aug. 31, 2011
Aug. 31, 2010
Cash flows (used in) provided by operating activities:    
Net loss $ (27.1) $ (35.2)
Loss from discontinued operations, net of tax (2.0) (1.3)
Loss from continuing operations (25.1) (33.9)
Adjustments to reconcile loss from continuing operations to net cash provided by (used in) operating activities of continuing operations:    
Provision for losses on accounts receivable 1.4 2.9
Provision for losses on inventory 5.9 6.3
Provision for losses on royalty advances 1.2 1.4
Amortization of prepublication and production costs 11.9 12.1
Depreciation and amortization 15.1 14.4
Deferred income taxes   1.0
Stock-based compensation 2.2 5.3
Changes in assets and liabilities:    
Accounts receivable 2.0 (1.0)
Inventories (121.3) (120.2)
Prepaid and other current assets (24.3) (22.2)
Deferred promotion costs (4.3) (6.0)
Royalty advances (0.3) (1.1)
Accounts payable 60.7 75.1
Other accrued expenses (18.3) (33.3)
Accrued royalties 17.3 13.8
Deferred revenue 26.8 19.9
Pension and post-retirement liability (0.7) (2.9)
Other noncurrent liability (0.4)  
Other, net 0.6 1.0
Total adjustments (24.5) (33.5)
Net cash used in operating activities of continuing operations (49.6) (67.4)
Net cash provided by (used in) operating activities of discontinued operations 0.3 (5.7)
Net cash used in operating activities (49.3) (73.1)
Cash flows used in investing activities:    
Prepublication and production expenditures (11.5) (10.8)
Additions to property, plant and equipment (7.2) (13.0)
Acquisition related payments   (1.0)
Net cash used in investing activities of continuing operations (18.7) (24.8)
Cash flows (used in) provided by financing activities:    
Repayment of term loan (10.7) (10.7)
Borrowings under lines of credit 18.5 12.6
Repayment under lines of credit (9.6) (12.6)
Repayment of capital lease obligations (0.1) (0.3)
Reacquisition of common stock   (9.7)
Proceeds pursuant to stock-based compensation plans 1.3  
Payment of dividends (3.1) (2.7)
Other (0.3)  
Net cash used in financing activities of continuing operations (4.0) (23.4)
Net cash used in financing activities (4.0) (23.4)
Effect of exchange rate changes on cash and cash equivalents 0.4 1.4
Net decrease in cash and cash equivalents (71.6) (119.9)
Cash and cash equivalents at beginning of period 105.3 244.1
Cash and cash equivalents at end of period $ 33.7 $ 124.2