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Investments | 9 Months Ended
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Feb. 28, 2014
Equity Method And Cost Method Investments [Abstract] |
Equity Method And Cost Method Investments | Investments Included in “Other assets and deferred charges” on the Company’s condensed consolidated balance sheets were investments of $19.4, $19.6 and $20.6 at February 28, 2014, May 31, 2013 and February 28, 2013, respectively. In the first quarter of fiscal 2014, the Company acquired a 20% interest in a software development business for $1.0 in cash, which is accounted for using the equity method of accounting. The Company owns a 15% non-controlling interest in a book distribution business located in the UK, which is accounted for as a cost-basis investment. A decline in results for this operation in the last quarter of the fiscal year ended December 31, 2013. led management to determine that this investment is other than temporarily impaired as of February 28, 2014. Accordingly, the Company recognized a loss of $4.7 in respect of this investment in the quarter ended February 28, 2014. The Company’s 26.2% non-controlling interest in a children’s book publishing business located in the UK is accounted for using the equity method of accounting. Income from equity investments totaled $1.7 and $1.5 for the nine months ended February 28, 2014 and 2013, respectively. The prior fiscal year results include a $1.3 settlement received in the prior fiscal period in respect of a former equity-method investment for product delivered to the investee in prior years. The following table summarizes the Company’s investments as of the dates indicated:
| February 28, 2014 |  | May 31, 2013 |  | February 28, 2013
Cost method investments: |  |  |  |  |
UK - based | $ | — |  |  | $ | 5.0 |  |  | $ | 5.4 |
Total cost method investments | $ | — |  |  | $ | 5.0 |  |  | $ | 5.4 |
Equity method investments: |  |  |  |  |  |  |  |
UK - based | $ | 18.3 |  |  | $ | 14.6 |  |  | $ | 15.2 |
Other | 1.1 |  |  | — |  |  | — |
Total equity method investments | $ | 19.4 |  |  | $ | 14.6 |  |  | $ | 15.2 |
Total | $ | 19.4 |  |  | $ | 19.6 |  |  | $ | 20.6 |

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- Definition This element represents the required disclosure for investments accounted for under the cost-method. The carrying amount of such investments may be adjusted, for example, distributions in excess of cost (return of capital) or for other-than-temporary impairments. The cost method and lower-of-cost or market, an adaptation of the cost method, is generally followed for most investments in noncontrolled corporations, in some corporate joint ventures, and to a lesser extent in unconsolidated subsidiaries in which the Entity does not have the ability to exercise significant influence. Also, this item represents disclosure of information related to equity method investments in common stock. The information which should be considered for disclosure includes: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available. + References No definition available. + Details
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- Details
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