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Investments | 6 Months Ended
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Nov. 30, 2015
Equity Method And Cost Method Investments [Abstract] |
Investments | INVESTMENTS Included in “Other assets and deferred charges” on the Company’s condensed consolidated balance sheets were investments of $27.2, $26.3 and $18.9 at November 30, 2015, May 31, 2015 and November 30, 2014, respectively. On November 5, 2015, the Company sold a cost method investment in China and received proceeds of $3.3 resulting in a pretax gain of $2.2 in the current fiscal quarter ended November 30, 2015. On March 19, 2015, the Company purchased a 48.5% equity interest in Make Believe Ideas Limited (MBI), a UK-based children's book publishing company. MBI is a highly-regarded publisher of innovative books for children, celebrated for well-designed books that encourage creativity and early learning. Under the purchase agreement, and subject to its provisions, the Company will purchase the remaining outstanding shares in MBI after four years. The remaining controlling interest is held by a single third party and therefore the Company accounted for the investment using the equity method of accounting. The net value of this investment was $8.2, $7.3 and $0.0 at November 30, 2015, May 31, 2015 and November 30, 2014, respectively. The Company’s 26.2% non-controlling interest in another children’s book publishing business located in the UK is accounted for using the equity method of accounting. The net value of this investment was $19.0, $17.9 and $18.9 at November 30, 2015, May 31, 2015 and November 30, 2014, respectively. Income from equity investments reported in Selling, general and administrative expenses in the Consolidated Statements of Operations totaled $2.4 and $1.7 for the six months ended November 30, 2015 and 2014, respectively. The Company had cost method investments that had a net value of $0.0, $1.1 and $0.0 at November 30, 2015, May 31, 2015 and November 30, 2014, respectively. For the year ended May 31, 2015, the Company recognized a pretax gain of $0.6 on the sale of a UK-based cost method investment that had previously been determined to be other than temporarily impaired.

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