XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Aug. 31, 2023
May 31, 2023
Aug. 31, 2022
Current Assets:      
Cash and cash equivalents $ 125.8 $ 224.5 $ 239.7
Accounts receivable, net 201.9 278.0 242.9
Inventories, net 353.2 334.5 379.1
Income tax receivable 33.4 8.9 40.4
Prepaid expenses and other current assets 70.4 47.0 89.4
Total current assets 784.7 892.9 991.5
Noncurrent Assets:      
Property, plant and equipment, net 523.3 521.4 512.6
Prepublication costs, net 55.0 56.4 53.6
Operating lease right-of-use assets, net 96.4 85.7 77.9
Royalty advances, net 58.6 56.8 57.6
Goodwill 132.8 132.7 124.7
Noncurrent deferred income taxes 20.5 21.0 21.1
Other assets and deferred charges 101.0 99.8 92.7
Total noncurrent assets 987.6 973.8 940.2
Total assets 1,772.3 1,866.7 1,931.7
Current Liabilities:      
Lines of credit and current portion of long-term debt 5.9 6.0 6.3
Accounts payable 167.7 170.9 208.9
Accrued royalties 72.0 52.8 85.0
Deferred revenue 171.1 169.1 182.6
Other accrued expenses 145.9 168.9 162.6
Accrued income taxes 13.2 13.4 1.7
Operating lease liabilities 22.9 21.2 21.2
Total current liabilities 598.7 602.3 668.3
Noncurrent Liabilities:      
Total long-term debt 0.0 0.0 0.0
Operating lease liabilities 83.1 73.8 65.8
Other noncurrent liabilities 35.9 26.1 31.3
Total noncurrent liabilities 119.0 99.9 97.1
Commitments and Contingencies (see Note 5) 0.0 0.0 0.0
Stockholders’ Equity:      
Preferred Stock, $1.00 par value: Authorized, 2.0 shares; Issued and Outstanding, none 0.0 0.0 0.0
Additional paid-in capital 632.7 632.2 629.5
Accumulated other comprehensive income (loss) (53.8) (55.8) (55.0)
Retained earnings 955.1 1,035.6 924.1
Treasury stock, at cost: 13.6, 12.9 and 10.2 shares, respectively (479.8) (449.5) (334.2)
Total stockholders’ equity of Scholastic Corporation 1,054.6 1,162.9 1,164.8
Noncontrolling interest 0.0 1.6 1.5
Total stockholders’ equity 1,054.6 1,164.5 1,166.3
Total liabilities and stockholders’ equity 1,772.3 1,866.7 1,931.7
Common Class A      
Stockholders’ Equity:      
Common Stock, value 0.0 0.0 0.0
Common Class      
Stockholders’ Equity:      
Common Stock, value $ 0.4 $ 0.4 $ 0.4