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Consolidated Balance Sheets - USD ($)
$ in Millions
May 31, 2023
May 31, 2022
Current Assets:    
Cash and cash equivalents $ 224.5 $ 316.6
Accounts receivable, net 278.0 299.4
Inventories, net 334.5 281.4
Income tax receivable 8.9 26.8
Prepaid expenses and other current assets 47.0 68.1
Assets held for sale 0.0 3.7
Total current assets 892.9 996.0
Noncurrent Assets:    
Property, plant and equipment, net 521.4 517.0
Prepublication costs, net 56.4 55.5
Operating lease right-of-use assets, net 85.7 81.9
Royalty advances, net 56.8 49.2
Goodwill 132.7 125.3
Noncurrent deferred income taxes 21.0 21.5
Other assets and deferred charges 99.8 94.4
Total noncurrent assets 973.8 944.8
Total assets 1,866.7 1,940.8
Current Liabilities:    
Lines of credit and current portion of long-term debt 6.0 6.5
Accounts payable 170.9 162.3
Accrued royalties 52.8 61.3
Deferred revenue 169.1 172.8
Other accrued expenses 168.9 193.3
Accrued income taxes 13.4 2.7
Operating lease liabilities 21.2 20.8
Total current liabilities 602.3 619.7
Noncurrent Liabilities:    
Long-term debt 0.0 0.0
Operating lease liabilities 73.8 69.8
Other noncurrent liabilities 26.1 32.9
Total noncurrent liabilities 99.9 102.7
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 632.2 627.0
Accumulated other comprehensive income (loss) (55.8) (45.4)
Retained earnings 1,035.6 976.5
Treasury stock at cost: 12.9 shares and 10.4 shares, respectively (449.5) (341.5)
Total stockholders' equity of Scholastic Corporation 1,162.9 1,217.0
Noncontrolling interest 1.6 1.4
Total stockholders’ equity 1,164.5 1,218.4
Total liabilities and stockholders’ equity 1,866.7 1,940.8
Class A Stock    
Stockholders’ Equity:    
Common Stock 0.0 0.0
Common Stock    
Stockholders’ Equity:    
Common Stock $ 0.4 $ 0.4