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Discontinued Operations (Tables)
 12 Months Ended
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