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Goodwill and Other Intangibles | 12 Months Ended
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May 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | GOODWILL AND OTHER INTANGIBLES The Company assesses goodwill and other intangible assets with indefinite lives for impairment annually or more frequently if indicators arise. The Company monitors impairment indicators in light of changes in market conditions, near and long-term demand for the Company’s products and other relevant factors. The following table summarizes the activity in Goodwill for the fiscal years ended May 31:
| 2024 |  | 2023
Gross beginning balance | $ | 172.3 |  |  | $ | 164.9 |
Accumulated impairment |  | (39.6) |  |  |  | (39.6) |
Beginning balance | $ | 132.7 |  |  | $ | 125.3 |
Additions |  | — |  |  |  | 7.6 |
Foreign currency translation |  | 0.1 |  |  |  | (0.2) |
Gross ending balance |  | 172.4 |  |  |  | 172.3 |
Accumulated impairment |  | (39.6) |  |  |  | (39.6) |
Ending balance | $ | 132.8 |  |  | $ | 132.7 |
In fiscal 2023, the Company acquired Learning Ovations, Inc, a U.S.-based education technology business, which resulted in the recognition of $7.6 of Goodwill included in the Education Solutions segment. Refer to Note 10, "Acquisitions," for further details regarding the acquisition. There were no impairment charges related to Goodwill in any of the periods presented. The following table presents Goodwill by segment as of May 31:
| 2024 | 2023
Children's Book Publishing and Distribution | $ | 47.1 |  |  | $ | 46.9 |  |
Education Solutions |  | 75.7 |  |  |  | 75.8 |  |
International |  | 10.0 |  |  | 10.0 |
Total | $ | 132.8 |  | $ | 132.7 |
The following table summarizes the activity in other intangibles included in Other assets and deferred charges on the Company’s Financial Statements for the fiscal years ended May 31:
| 2024 |  | 2023
Other intangibles subject to amortization - beginning balance | $ | 7.8 |  |  | $ | 6.0 |
Additions |  | 6.0 |  |  |  | 4.1 |
Amortization expense |  | (2.6) |  |  |  | (2.2) |
Foreign currency translation |  | 0.1 |  |  |  | (0.1) |
Impairments |  | (3.1) |  |  |  | — |
Total other intangibles subject to amortization, net of accumulated amortization of $39.1 and $36.5, respectively | $ | 8.2 |  |  | $ | 7.8 |
Total other intangibles not subject to amortization |  | 2.1 |  |  |  | 2.1 |
Total other intangibles | $ | 10.3 |  |  | $ | 9.9 |
During fiscal 2024, the Company acquired certain amortizable intangible assets related to educational programs for $5.8 and certain amortizable intangible assets of a U.S.- based children's book publishing business for $0.2. These intangible assets are amortized over the estimated useful life of 8 years and 5 years, respectively. In fiscal 2023, the Company acquired Learning Ovations, Inc., a U.S.-based education technology business, which resulted in the recognition of $4.1 of amortizable intangible assets. Refer to Note 10, "Acquisitions," for further details regarding the acquisition. During fiscal 2024, the Company assessed the recoverability of these assets which was impacted by the shift to the science of reading based approach to literacy instruction within the education market. An asset impairment of $3.1 was recognized in fiscal 2024. Refer to Note 4, "Asset Write Down," for further details. Amortization expense for Other intangibles totaled $2.6, $2.2 and $2.0 for the fiscal years ended May 31, 2024, 2023 and 2022, respectively. The following table reflects the estimated amortization expense for intangibles for future fiscal years ending May 31:
2025 | $ | 2.0 |
2026 |  | 1.1 |
2027 |  | 1.1 |
2028 |  | 1.1 |
2029 |  | 1.1 |
Thereafter |  | 1.8 |
Intangible assets with indefinite lives consist principally of trademark and trade name rights. Intangible assets with definite lives consist principally of customer lists, intellectual property, trade names and other agreements. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is approximately 6.1 years.

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