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Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2021
May 31, 2020
Current Assets:    
Cash and cash equivalents $ 366.5 $ 393.8
Accounts receivable, net 256.1 239.8
Inventories, net 269.7 270.6
Income tax receivable 88.8 90.0
Prepaid expenses and other current assets 47.2 41.1
Total current assets 1,028.3 1,035.3
Noncurrent Assets:    
Property, plant and equipment, net 556.9 576.9
Prepublication costs, net 65.7 70.6
Operating lease right-of-use assets, net 78.6 95.3
Royalty advances, net 43.8 39.9
Goodwill 126.3 124.9
Noncurrent deferred income taxes 25.4 18.6
Other assets and deferred charges 83.3 72.1
Total noncurrent assets 980.0 998.3
Total assets 2,008.3 2,033.6
Current Liabilities:    
Lines of credit and current portion of long-term debt 182.9 7.9
Accounts payable 138.0 153.6
Accrued royalties 45.5 37.8
Deferred revenue 99.1 116.5
Other accrued expenses 202.0 161.5
Accrued income taxes 3.0 1.4
Operating lease liabilities 25.0 22.8
Total current liabilities 695.5 501.5
Noncurrent Liabilities:    
Long-term debt 7.3 210.6
Operating lease liabilities 67.4 75.7
Other noncurrent liabilities 55.8 65.2
Total noncurrent liabilities 130.5 351.5
Commitments and Contingencies: 0.0 0.0
Stockholders’ Equity:    
Preferred Stock,$1.00 par value: Authorized, 2.0 shares; Issued and Outstanding, none 0.0 0.0
Additional paid-in capital 626.5 622.4
Accumulated other comprehensive income (loss) (34.7) (58.3)
Retained earnings 916.4 948.0
Treasury stock at cost: 10.2 shares and 10.4 shares, respectively (327.8) (333.3)
Total stockholders' equity of Scholastic Corporation 1,180.8 1,179.2
Noncontrolling interest 1.5 1.4
Total stockholders’ equity 1,182.3 1,180.6
Total liabilities and stockholders’ equity $ 2,008.3 $ 2,033.6
Treasury stock (in shares) 10,200,000 10,400,000
Preferred stock, par value per share (in dollars per share) $ 1.00 $ 1.00
Authorized 2,000,000.0 2,000,000.0
Outstanding 0 0
Preferred stock issued (in shares) 0 0
Class A Stock    
Stockholders’ Equity:    
Common Stock $ 0.0 $ 0.0
Common Stock, shares outstanding (in shares) 1,656,200 1,700,000
Common Stock, shares issued 1,700,000 1,700,000
Common Stock, shares authorized (in shares) 4,000,000 4,000,000.0
Common Stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Common Stock    
Stockholders’ Equity:    
Common Stock $ 0.4 $ 0.4
Common Stock, shares outstanding (in shares) 32,707,795 32,500,000
Common Stock, shares issued 42,900,000 42,900,000
Common Stock, shares authorized (in shares) 70,000,000 70,000,000.0
Common Stock, par value per share (in dollars per share) $ 0.01 $ 0.01