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Investments | 6 Months Ended
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Nov. 30, 2016
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 $27.4, $26.2 and $27.2 at November 30, 2016, May 31, 2016 and November 30, 2015, respectively. The Company's 48.5% equity interest in Make Believe Ideas Limited (MBI), a UK-based children's book publishing company, is accounted for using the equity method of accounting. Under the purchase agreement, and subject to its provisions, the Company will purchase the remaining outstanding shares in MBI following the completion of MBI's accounts for the calendar year 2018. 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 carrying value of this investment was $8.1, $8.0 and $8.2 at November 30, 2016, May 31, 2016 and November 30, 2015, 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 carrying value of this investment was $19.3, $18.1 and $19.0 at November 30, 2016, May 31, 2016 and November 30, 2015, respectively. 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 three and six months ended November 30, 2015. The Company has other equity and cost method investments that had a net carrying value of $0.0, $0.1 and $0.0 at November 30, 2016, May 31, 2016 and November 30, 2015, respectively. Income from equity investments reported in "Selling, general and administrative expenses" in the condensed consolidated statements of operations totaled $4.9 and $2.4 for the six months ended November 30, 2016 and November 30, 2015, respectively.

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