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Business Combinations and Asset Acquisitions (Tables) | 12 Months Ended
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May 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Business Combination, Recognized Asset Acquired and Liability Assumed | The following table summarizes the purchase price allocation of fair values of the assets acquired and liabilities assumed at the date of acquisition, inclusive of measurement period adjustments:
Cash and cash equivalents | $ | 17.5 |  |  |  |  |  |  |  |
Accounts receivable |  | 14.8 |  |  |  |  |  |  |  |
Investment in film and television programs |  | 42.9 |  |  |  |  |  |  |  |
Property, plant and equipment |  | 6.1 |  |  |  |  |  |  |  |
Operating lease right-of-use assets |  | 6.1 |  |  |  |  |  |  |  |
Other Intangible assets: |  |  |  |  |  |  |  |  |
Existing content/IP |  | 16.0 |  |  |  |  |  |  |  |
Customer contracts/relationships (1) |  | 51.5 |  |  |  |  |  |  |  |
Trade names |  | 16.5 |  |  |  |  |  |  |  |
Internally developed software |  | 1.3 |  |  |  |  |  |  |  |
Tax credit receivable |  | 31.9 |  |  |  |  |  |  |  |
Other assets |  | 3.9 |  |  |  |  |  |  |  |
Total assets acquired |  | 208.5 |  |  |  |  |  |  |  |
Accounts payable |  | 2.3 |  |  |  |  |  |  |  |
Accrued expenses |  | 16.3 |  |  |  |  |  |  |  |
Deferred revenue |  | 9.8 |  |  |  |  |  |  |  |
Film related obligations |  | 34.9 |  |  |  |  |  |  |  |
Operating lease liabilities |  | 7.7 |  |  |  |  |  |  |  |
Other liabilities |  | 8.0 |  |  |  |  |  |  |  |
Total liabilities assumed |  | 79.0 |  |  |  |  |  |  |  |
Fair value of net assets acquired |  | 129.5 |  |  |  |  |  |  |  |
Goodwill |  | 64.2 |  |  |  |  |  |  |  |
Purchase price consideration | $ | 193.7 |  |  |  |  |  |  |  |
(1) Includes $36.7 related to distribution contracts and relationships.
Business Combination, Pro Forma Information | The following table summarizes the unaudited pro-forma consolidated results of operations for the fiscal years ended May 31, 2025 and 2024 as if the acquisition had occurred on June 1, 2023, the beginning of fiscal 2024:
|  |  | 2025 | 2024 |  |
Revenues |  |  |  |  |  |  | $ | 1,631.2 |  |  | $ | 1,671.4 |  |  |  |  |  |  |  |
Net income (loss) |  |  |  |  |  |  |  | (3.1) |  |  |  | 1.9 |  |  |  |  |  |  |  |

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- Definition Tabular disclosure of pro forma revenue and earnings for business combination or aggregate of series of individually immaterial business combinations. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-8 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 49 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479303/805-10-55-49 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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