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Discontinued Operations (Tables) | 12 Months Ended
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May. 31, 2015
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of discontinued operations impact on income statement and balance sheet | The following table summarizes the operating results of the discontinued operations for the fiscal year ended May 31, 2015:
| Ed Tech |  | All Other |  | Total
Revenues | $ | 217.4 |  |  | $ | 11.7 |  |  | $ | 229.1 |
Operating costs and expenses (1) | 208.8 |  |  | 14.5 |  |  | 223.3 |
Interest income (expense) | — |  |  | 0.1 |  |  | 0.1 |
Gain (loss) on sale | 454.0 |  |  | — |  |  | 454.0 |
Earnings (loss) before income taxes | $ | 462.6 |  |  | $ | (2.7 | ) |  | $ | 459.9 |
Provision (benefit) for income taxes | 181.8 |  |  | (1.0 | ) |  | 180.8 |
Earnings (loss) from discontinued operations, net of tax | $ | 280.8 |  |  | $ | (1.7 | ) |  | $ | 279.1 |
(1) Operating costs and expenses included costs related to unabsorbed overhead burden associated with the former educational technology and services business of $15.8. The following table summarizes the operating results of the discontinued operations for the fiscal year ended May 31, 2014:
| Ed Tech |  | All Other |  | Total
Revenues | $ | 246.4 |  |  | $ | 14.4 |  |  | $ | 260.8 |
Operating costs and expenses (1) | 193.0 |  |  | 15.0 |  |  | 208.0 |
Interest income (expense) | — |  |  | 0.1 |  |  | 0.1 |
Earnings (loss) before income taxes | $ | 53.4 |  |  | $ | (0.5 | ) |  | $ | 52.9 |
Provision (benefit) for income taxes | 22.0 |  |  | (0.2 | ) |  | 21.8 |
Earnings (loss) from discontinued operations, net of tax | $ | 31.4 |  |  | $ | (0.3 | ) |  | $ | 31.1 |
(1) Operating costs and expenses included costs related to unabsorbed overhead burden associated with the former educational technology and services business of $16.2. The following table summarizes the operating results of the discontinued operations for the fiscal year ended May 31, 2013:
| Ed Tech |  | All Other |  | Total
Revenues | $ | 226.1 |  |  | $ | 22.8 |  |  | $ | 248.9 |
Operating costs and expenses (1) | 180.6 |  |  | 28.7 |  |  | 209.3 |
Interest income (expense) | — |  |  | 0.1 |  |  | 0.1 |
Earnings (loss) before income taxes | $ | 45.5 |  |  | $ | (5.8 | ) |  | $ | 39.7 |
Provision (benefit) for income taxes | 15.5 |  |  | (2.0 | ) |  | 13.5 |
Earnings (loss) from discontinued operations, net of tax | $ | 30.0 |  |  | $ | (3.8 | ) |  | $ | 26.2 |
(1) Operating costs and expenses included costs related to unabsorbed overhead burden associated with the former educational technology and services business of $17.4. The following table sets forth the assets and liabilities of the discontinued operations included in the Consolidated Balance Sheets of the Company as of May 31:
| 2015 |  | 2014
Accounts receivable, net | $ | 2.5 |  |  | $ | 41.2 |
Inventories, net | 0.1 |  |  | 16.3 |
Prepaid expenses and other current assets | 0.5 |  |  | 1.2 |
Current assets of discontinued operations | $ | 3.1 |  |  | $ | 58.7 |
Property, plant and equipment, net | — |  |  | 1.6 |
Prepublication costs, net | — |  |  | 89.8 |
Royalty advances, net | — |  |  | 1.1 |
Goodwill | — |  |  | 22.7 |
Other intangibles, net | — |  |  | 4.3 |
Other assets and deferred charges | — |  |  | 0.4 |
Noncurrent assets of discontinued operations | $ | — |  |  | $ | 119.9 |
Accounts payable | 0.1 |  |  | 7.8 |
Accrued royalties | 0.7 |  |  | 3.4 |
Deferred revenue | 0.1 |  |  | 28.8 |
Other accrued expenses | 13.2 |  |  | 9.5 |
Current liabilities of discontinued operations | $ | 14.1 |  |  | $ | 49.5 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760 + Details
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