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Goodwill and Other Intangibles | 12 Months Ended
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May. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | GOODWILL AND OTHER INTANGIBLES In fiscal 2015, the Company recognized an impairment of $5.4 of goodwill associated with a reporting unit within the former Media, Licensing and Advertising segment now included in the Children’s Book Publishing and Distribution segment. In the fourth quarter of fiscal 2015, the Company completed a restructuring of the businesses comprising its former Media, Licensing and Advertising segment, resulting in an impairment indicator. Future revenue and earnings expectations were revised based on the restructuring activities, resulting in a determination that the reporting unit's fair value was less than its carrying value. Future earnings expectations were determined to be de minimis, and accordingly, little fair value was attr ibuted to the remaining operations. In fiscal 2014, the Company recognized an impairment of $13.4 of goodwill associated with the book clubs reporting unit in the Children’s Book Publishing and Distribution segment. In fiscal 2014, expected revenues for the reporting unit declined, resulting in an impairment indicator. As of November 30, 2013, the fair value of the reporting unit was approximately $13.0 less than the carrying value of $66.9. The Company used forecasted cash flows, which were adjusted from those used in the latest annual valuation to reflect the revised outlook for the reporting unit, in determining its fair value. Management revised its outlook for the reporting unit as revenues did not meet expectations during the period, and future revenue expectations were revised consistent with the current period decline. A discount rate of 15.5% and a perpetual growth rate of 3.0% were employed for the discounted cash flow analysis. The reporting unit is dependent upon internally developed intangible assets including trade names and customer lists which have no carrying value, but have substantial fair value. The Company determined that the fair value of the reporting unit's inventory and internally developed intangible assets rendered 100% of the goodwill impaired. The following table summarizes the activity in Goodwill for the fiscal years ended May 31:
| 2015 |  | 2014
Gross beginning balance | $ | 156.0 |  |  | $ | 156.0 |
Accumulated impairment | (34.2 | ) |  | (20.8 | )
Beginning balance | 121.8 |  |  | 135.2 |
Impairment charge | (5.4 | ) |  | (13.4 | )
Foreign currency translation | (0.1 | ) |  | 0.0 |
Gross ending balance | 155.9 |  |  | 156.0 |
Accumulated impairment | (39.6 | ) |  | (34.2 | )
Ending balance | $ | 116.3 |  |  | $ | 121.8 |
The following table summarizes Other intangibles as of May 31:
| 2015 |  | 2014
Other intangibles subject to amortization - beginning balance | $ | 5.8 |  |  | $ | 8.0 |
Additions due to acquisition | 0.8 |  |  | — |
Amortization expense | (1.9 | ) |  | (2.0 | )
Other | — |  |  | (0.2 | )
Total other intangibles subject to amortization, net accumulated amortization of $17.3 and $15.4, respectively | $ | 4.7 |  |  | $ | 5.8 |
Total other intangibles not subject to amortization | $ | 2.1 |  |  | $ | 2.2 |
Total other intangibles | $ | 6.8 |  |  | $ | 8.0 |
Amortization expense for Other intangibles totaled $1.9, $2.0 and $2.1 for the fiscal years ended May 31, 2015, 2014 and 2013, respectively. The following table reflects the estimated amortization expense for intangibles for the next five fiscal years ending May 31:
2016 | $ | 1.9 |
2017 | 1.9 |
2018 | 0.2 |
2019 | 0.2 |
2020 | 0.1 |
Intangible assets with definite lives consist principally of customer lists, covenants not to compete and trademarks. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is approximately 4 years.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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