John Wiley & Sons (WLY) 10-Q 12 Dec 16 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2016	Nov. 30, 2016
Entity Information [Line Items]
Entity Registrant Name	WILEY JOHN & SONS, INC.
Entity Central Index Key	107,140
Current Fiscal Year End Date	--04-30
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2016
Common Stock Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		48,328,421
Common Stock Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,197,169

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - UNAUDITED - USD ($) $ in Thousands	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Current Assets
Cash and cash equivalents	$ 267,410	$ 363,806	$ 308,235
Accounts receivable	212,590	167,638	183,447
Inventories	51,779	57,779	58,154
Prepaid and other	147,753	81,456	68,951
Total Current Assets	679,532	670,679	618,787
Product Development Assets	48,927	72,126	55,432
Technology, Property & Equipment	248,281	214,770	205,362
Intangible Assets	822,962	877,007	915,174
Goodwill	974,068	951,663	965,571
Income Tax Deposits	0	62,912	59,810
Other Assets	79,684	71,939	62,691
Total Assets	2,853,454	2,921,096	2,882,827
Current Liabilities
Short-term debt	0	0	150,000
Accounts and royalties payable	158,985	166,222	161,282
Deferred revenue	223,307	426,489	150,716
Accrued employment costs	69,072	97,902	61,790
Accrued income taxes	8,515	9,450	9,654
Accrued pension liability	5,459	5,492	4,602
Other accrued liabilities	77,484	76,252	55,355
Total Current Liabilities	542,822	781,807	593,399
Long-Term Debt	883,992	605,007	739,051
Accrued Pension Liability	181,735	224,170	196,094
Deferred Income Tax Liabilities	191,729	189,868	203,499
Other Long-Term Liabilities	71,675	83,138	83,111
Shareholders' Equity
Class A & Class B common stock	83,190	83,190	83,190
Additional paid-in-capital	379,009	368,698	361,567
Retained earnings	1,656,991	1,673,325	1,638,324
Accumulated other comprehensive loss	(486,649)	(447,686)	(399,367)
Treasury stock	(651,040)	(640,421)	(616,041)
Total Shareholders' Equity	981,501	1,037,106	1,067,673
Total Liabilities and Shareholders' Equity	$ 2,853,454	$ 2,921,096	$ 2,882,827

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Revenue	$ 425,588	$ 433,362	$ 829,873	$ 856,343
Costs and Expenses
Cost of sales	111,574	116,594	225,052	236,142
Operating and administrative expenses	247,270	240,136	482,497	482,836
Restructuring charges	6,847	3,694	5,927	7,119
Amortization of intangibles	12,253	12,673	24,826	25,072
Total Costs and Expenses	377,944	373,097	738,302	751,169
Operating Income	47,644	60,265	91,571	105,174
Interest Expense	(4,360)	(4,324)	(8,431)	(7,897)
Foreign Exchange (Loss) Transaction Gain	(360)	38	(139)	(42)
Interest Income and Other	478	644	728	1,308
Income Before Taxes	43,402	56,623	83,729	98,543
Provision For Income Taxes	54,853	13,023	64,180	22,486
Net Income (Loss)	$ (11,451)	$ 43,600	$ 19,549	$ 76,057
Earnings (Loss) Per Share
Diluted (in dollars per share)	$ (0.20)	$ 0.74	$ 0.34	$ 1.29
Basic (in dollars per share)	$ (0.20)	$ 0.75	$ 0.34	$ 1.30
Average Shares
Diluted (in shares)	57,538	58,790	58,259	59,090
Basic (in shares)	57,538	58,163	57,494	58,433
Class A Common [Member]
Cash Dividends Per Share
Common stock (in dollars per share)	$ 0.31	$ 0.30	$ 0.62	$ 0.60
Class B Common [Member]
Cash Dividends Per Share
Common stock (in dollars per share)	$ 0.31	$ 0.30	$ 0.62	$ 0.60

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) [Abstract]
Net Income (Loss)	$ (11,451)	$ 43,600	$ 19,549	$ 76,057
Other Comprehensive Income (Loss) :
Foreign currency translation adjustment	(25,824)	(14,242)	(70,464)	4,864
Unamortized retirement costs, net of tax provision of $8,163, $799, $11,456 and $310, respectively	22,151	2,765	31,155	2,281
Unrealized gain on interest rate swaps, net of tax provision of $721, $17, $212, and $74, respectively	1,176	28	346	121
Total Other Comprehensive Income (Loss)	(2,497)	(11,449)	(38,963)	7,266
Comprehensive Income (Loss)	$ (13,948)	$ 32,151	$ (19,414)	$ 83,323

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Other Comprehensive Income (Loss) :
Unamortized retirement costs, tax provision	$ 8,163	$ 799	$ 11,456	$ 310
Unrealized gain on interest rate swaps, tax provision	$ 721	$ 17	$ 212	$ 74

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - UNAUDITED - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015
Operating Activities
Net income	$ 19,549	$ 76,057
Adjustments to reconcile net income to cash used for operating activities:
Amortization of intangibles	24,826	25,072
Amortization of composition costs	18,701	19,967
Depreciation of technology, property and equipment	34,092	32,820
Restructuring charges	5,927	7,119
Restructuring payments	(10,770)	(18,339)
Deferred Income Tax Benefit on UK Rate Change	(2,575)	0
Unfavorable Tax Settlement	47,531	0
One-Time Pension Settlement	8,842	0
Stock-based compensation expense	4,907	8,112
Excess tax benefit from stock-based compensation	(187)	(527)
Royalty advances	(46,070)	(45,553)
Earned royalty advances	64,321	60,163
Other non-cash charges	31,157	18,115
Change in deferred revenue	(199,419)	(225,115)
Net change in operating assets and liabilities	(86,926)	(84,410)
Cash Used for Operating Activities	(86,094)	(126,519)
Investing Activities
Composition spending	(16,604)	(20,033)
Additions to technology, property and equipment	(52,728)	(46,177)
Acquisitions, net of cash acquired	(135,753)	(16,681)
Cash Used for Investing Activities	(205,085)	(82,891)
Financing Activities
Repayments of long-term debt	(201,415)	(112,641)
Borrowings of long-term debt	480,400	201,600
Borrowings of short-term debt	0	50,000
Change in book overdrafts	(5,861)	285
Cash dividends	(35,883)	(35,166)
Purchase of treasury stock	(21,289)	(44,703)
Proceeds from exercise of stock options and other	15,703	465
Excess tax benefit from stock-based compensation	187	527
Cash Provided by Financing Activities	231,842	60,367
Effects of Exchange Rate Changes on Cash and Cash Equivalents	(37,059)	(163)
Cash and Cash Equivalents
Decrease for the Period	(96,396)	(149,206)
Balance at Beginning of Period	363,806	457,441
Balance at End of Period	267,410	308,235
Cash Paid During the Period for:
Interest	5,594	6,654
Income taxes, net	$ 20,231	$ 21,532

Basis of Presentation

Basis of Presentation	6 Months Ended
	Oct. 31, 2016
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial condition, results of operations, comprehensive income (loss) and cash flows for the periods presented. Operating results for the interim period are not necessarily indicative of the results expected for the full year. These financial statements should be read in conjunction with the most recent audited financial statements included in the Company’s Form 10-K for the fiscal year ended April 30, 2016. The preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. Certain prior year amounts have been reclassified to conform to the current year’s presentation. Effective August 1, 2016, the Company completed a number of changes to its organizational structure that resulted in a change in how the Company manages its business, allocates resources and measures performance. As a result, the Company has revised its reportable segments to reflect how management currently reviews financial information and makes operating decisions. Refer to Note 8, “Segment Information” for additional information on the changes in reportable segments. All prior period amounts have been adjusted to reflect the reportable segment change.

Recent Accounting Standards

Recent Accounting Standards	6 Months Ended
	Oct. 31, 2016
Recent Accounting Standards [Abstract]
Recent Accounting Standards	2. Recent Accounting Standards In October 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-16 “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory” which simplifies the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The new guidance states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in this Update eliminate the exception for an intra-entity transfer of an asset other than inventory. The standard is effective for the company on May 1, 2018, with early adoption permitted. The Company expects no initial impact on the adoption. In August 2016, the FASB issued ASU 2016-15 “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”, which provides clarification on classifying a variety of activities within the Statement of Cash flows. The standard is effective for the company on May 1, 2018, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its statement of cash flows. In March 2016, the FASB issued ASU 2016-09 “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” which simplifies the accounting for share-based payment transactions, including income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance also allows an entity to make an accounting policy election to account for forfeitures when they occur or to estimate the number of awards that are expected to vest with a subsequent true up to actual forfeitures (current GAAP). The standard is effective for the Company on May 1, 2017, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02 "Leases (Topic 842)”. ASU 2016-02 requires lessees to recognize most leases on the balance sheet which will result in an increase in reported assets and liabilities. The recognition of expenses within the income statement is consistent with the existing lease accounting standards. There are no significant changes in the new standard for lessors under operating leases. The standard is effective for the Company on May 1, 2019 with early adoption permitted. Adoption requires application of the new guidance for all periods presented. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In November 2015, the FASB issued ASU 2015-17 “Income Taxes- Balance Sheet Classification of Deferred Taxes”. To simplify the presentation of deferred income taxes, the amendments in this update require that all deferred tax assets and liabilities, including those previously classified as current, be classified as a single noncurrent line in a classified statement of financial position. The amendments in the standard will align the presentation of deferred income tax assets and liabilities with International Financial Reporting Standards (“IFRS”). The standard is effective for the Company on May 1, 2017 with early adoption permitted. The Company will adopt the new guidance on May 1, 2017. The adoption will have no impact on the Company’s results of operations or statement of cash flows. In April 2015, the FASB issued ASU 2015-05 "Intangibles- Goodwill and Other- Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in Cloud Computing Arrangements" (“ASU 2015-05”). Cloud computing arrangements represent the delivery of hosted services over the internet which includes software, platforms, infrastructure and other hosting arrangements. The ASU provides criteria to determine whether the cloud computing arrangement includes a software license. A software license can include customized development, maintenance, hosting and other related costs. If the criteria are met, the customer will capitalize the fee attributable to the software license portion of the arrangement as internal-use software. If the arrangement does not include a software license, it should be treated as a service contract. The Company adopted the new guidance on a prospective basis for all arrangements entered into or materially modified after May 1, 2016. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers" (Topic 606) (“ASU 2014-09”), and the International Accounting Standards Board (“IASB”) published its equivalent standard, IFRS 15, “Revenue from Contracts with Customers”. These joint comprehensive new revenue recognition standards will supersede most existing revenue recognition guidance and are intended to improve and converge revenue recognition and related financial reporting requirements. The standard is effective for the Company on May 1, 2018 with early adoption permitted on May 1, 2017. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all periods presented, or “cumulative effect” adoption, meaning the standard is applied only to the most current period presented in the financial statements. Subsequently, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations” (“ASU 2016-08”), ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing” (“ASU 2016-10”), and issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606) – Narrow Scope Improvements and Practical Expedients” (“ASU 2016-12”), which provide clarification and additional guidance related to ASU 2014-09. The Company must adopt ASU 2016-08, ASU 2016-10, and ASU 2016-12 with ASU 2014-09. The Company is currently assessing whether the adoption of the new guidance will have a significant impact on its consolidated financial statements.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Oct. 31, 2016
Share-Based Compensation [Abstract]
Share-Based Compensation	3. Share-Based Compensation The Company has share-based compensation plans under which employees may be granted performance-based stock awards and other restricted stock awards. Prior to fiscal year 2017, the Company also granted options to purchase shares of Company common stock at the fair market value at the time of grant. The Company recognizes the grant date fair value of share-based compensation in net income on a straight-line basis over the requisite service period. The measurement of performance for performance-based stock awards is based on actual financial results for targets established three years in advance. For the three months ended October 31, 2016 and 2015, the Company recognized share-based compensation expense, on a pre-tax basis, of $4.6 million and $4.2 million, respectively. For the six months ended October 31, 2016 and 2015, the Company recognized share-based compensation expense, on a pre-tax basis of $4.9 million and $8.1 million, respectively. The decrease for the six months ended October 31, 2016 was mainly driven by a reduction in the number of performance-based stock awards expected to vest based on the Company’s financial results. The following table provides restricted stock data for awards granted by the Company: For the Six Months Ended October 31, 2016 2015 Restricted Stock: Awards granted (in thousands) 509 289 Weighted average fair value of grant $50.56 $55.91 For the six months ended October 31, 2016 the Company did not grant any stock option awards. For the six months ended October 31, 2015, the Company granted 160,153 stock option awards at a weighted average grant fair value of $14.77. The weighted average Black-Scholes fair value assumptions for the fiscal year 2016 stock option grants were as follows: Expected life of options (years) 7.2 Risk-free interest rate 2.1 % Expected volatility 29.7 % Expected dividend yield 2.1 % Fair value of common stock on grant date $ 55.99

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Oct. 31, 2016
Accumulated Other Comprehensive Loss [Abstract]
Accumulated Other Comprehensive Loss	4. Accumulated Other Comprehensive Loss Changes in Accumulated Other Comprehensive Loss by component, net of tax, for the three and six months ended October 31, 2016 and 2015 were as follows (in thousands): Foreign Unamortized Interest Currency Retirement Rate Translation Costs Swaps Total Balance at July 31, 2016 $(312,560) $(170,401) $(1,191) $(484,152) Other comprehensive income (loss) before reclassifications (25,824) 15,826 1,200 (8,798) Amounts reclassified from accumulated other comprehensive loss - 6,325 (24) 6,301 Total other comprehensive income (loss) (25,824) 22,151 1,176 (2,497) Balance at October 31, 2016 $(338,384) $(148,250) $(15) $(486,649) Balance at April 30, 2016 $(267,920) $(179,405) $(361) $(447,686) Other comprehensive income (loss) before reclassifications (70,464) 25,494 97 (44,873) Amounts reclassified from accumulated other comprehensive loss - 5,661 249 5,910 Total other comprehensive income (loss) (70,464) 31,155 346 (38,963) Balance at October 31, 2016 $(338,384) $(148,250) $(15) $(486,649) Foreign Unamortized Interest Currency Retirement Rate Translation Costs Swaps Total Balance at July 31, 2015 $(227,748) $(159,918) $(252) $(387,918) Other comprehensive income (loss) before reclassifications (14,242) 1,382 (145) (13,005) Amounts reclassified from accumulated other comprehensive loss - 1,383 173 1,556 Total other comprehensive income (loss) (14,242) 2,765 28 (11,449) Balance at October 31, 2015 $(241,990) $(157,153) $(224) $(399,367) Balance at April 30, 2015 $(246,854) $(159,434) $(345) $(406,633) Other comprehensive income (loss) before reclassifications 4,864 (1,075) (229) 3,560 Amounts reclassified from accumulated other comprehensive loss - 3,356 350 3,706 Total other comprehensive income (loss) $4,864 $2,281 $121 $7,266 Balance at October 31, 2015 $(241,990) $(157,153) $(224) $(399,367) During the three months ended October 31, 2016 and 2015, pre-tax actuarial losses included in Unamortized Retirement Costs of approximately $10.0 million and $2.1 million, respectively, were amortized from Accumulated Other Comprehensive Loss and recognized as pension expense in Operating and Administrative Expenses in the Condensed Consolidated Statements of Income. During the six months ended October 31, 2016 and 2015, pre-tax actuarial losses of approximately $8.7 million and $5.1 million, respectively, were amortized.

Reconciliation of Weighted Aver

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases	6 Months Ended
	Oct. 31, 2016
Reconciliation of Weighted Average Shares Outstanding and Share Repurchases [Abstract]
Reconciliation of Weighted Average Shares Outstanding and Share Repurchases	5. Reconciliation of Weighted Average Shares Outstanding and Share Repurchases A reconciliation of the shares used in the computation of earnings per share follows (in thousands): For the Three Months Ended October 31, For the Six Months Ended October 31, 2016 2015 2016 2015 Weighted average shares outstanding 57,759 58,455 57,717 58,686 Less: Unearned restricted shares (221) (292) (223) (253) Shares used for basic earnings per share 57,538 58,163 57,494 58,433 Dilutive effect of stock options and other stock awards - 627 765 657 Shares used for diluted earnings per share 57,538 58,790 58,259 59,090 For the three months ended October 31, 2016 diluted shares is the same as basic shares, due to the fact that potentially dilutive securities would have an antidilutive effect as the Company incurred a net loss for the period. There were no unearned restricted shares excluded for the three months ended October 31, 2015. For the six months ended October 31, 2016 and 2015, 42,783 and 91,590 unearned restricted shares have been excluded, respectively. Since their inclusion in the calculation of diluted earnings per share would have been anti-dilutive, options to purchase 315,425 shares of Class A Common Stock have been excluded for the six months ended October 31, 2016 and 339,003 shares have been excluded from the three and six months ended October 31, 2015, respectively. During the three months ended October 31, 2016 and 2015, the Company repurchased 193,955 and 637,717 shares of common stock at an average price of $51.56 and $50.15, respectively. During the six months ended October 31, 2016 and 2015, the Company repurchased 415,260 and 868,137 shares of common stock at an average price of $51.27 and $51.49, respectively.

Acquisitions

Acquisitions	6 Months Ended
	Oct. 31, 2016
Acquisitions [Abstract]
Acquisitions	6. Acquisitions: On September 30, 2016, the Company acquired the net assets of Atypon Systems, Inc. (“Atypon”), a Silicon Valley-based publishing-software company, for approximately $121 million in cash, net of cash acquired. Atypon is a publishing-software and service provider that enables scholarly and professional societies and publishers to deliver, host, enhance, market and manage their content on the web. Atypon is headquartered in Santa Clara, CA, with approximately 260 employees in the U.S. and EMEA. The company provides services through Literatum

Restructuring and Reinvestment

Restructuring and Reinvestment Program	6 Months Ended
	Oct. 31, 2016
Restructuring and Reinvestment Program [Abstract]
Restructuring and Reinvestment Program	7. Restructuring and Reinvestment Program: Beginning in fiscal year 2013, the Company initiated a program (the “Restructuring and Reinvestment Program”) to restructure and realign its cost base with current and anticipated future market conditions. The Company is targeting a majority of the cost savings achieved to improve margins and earnings, while the remainder will be reinvested in high growth digital business opportunities. The following tables summarize the pre-tax restructuring charges (credits) related to this program (in thousands): Cumulative Program For the Three Months For the Six Months Charges Ended October 31, Ended October 31, to Date 2016 2015 2016 2015 Charges (Credits) by Segment: Research $229 $496 $160 $866 $18,367 Publishing 215 260 569 259 31,461 Solutions 524 140 524 140 1,289 Shared Services 5,879 2,798 4,674 5,854 79,399 Total $6,847 $3,694 $5,927 $7,119 $130,516 Charges (Credits) by Activity: Severance $4,322 $753 $4,579 $2,570 83,783 Process Reengineering Consulting - 2,948 7 6,194 18,673 Other Activities 2,525 (7) 1,341 (1,645) 28,060 Total $6,847 $3,694 $5,927 $7,119 $130,516 Other Activities reflects leased facility consolidations, contract termination costs and the curtailment of certain defined benefit pension plans. The credits in Other Activities mainly reflect changes in estimates for previously accrued restructuring charges related to facility lease reserves. The following table summarizes the activity for the Restructuring and Reinvestment Program liability for the six months ended October 31, 2016 (in thousands): Foreign April 30, Translation & October 31, 2016 Charges Payments Reclassifications 2016 Severance $16,657 4,579 $(8,018) $(515) $12,703 Process Reengineering Consulting - 7 (7) - - Other Activities 11,852 1,341 (2,745) 2,813 13,261 Total $28,509 5,927 $(10,770) $2,298 $25,964 The restructuring liability for accrued Severance costs is reflected in Accrued Employment Costs in the Condensed Consolidated Statements of Financial Position. Approximately $3.3 million and $10.0 million of the Other Activities are reflected in Other Accrued Liabilities and Other Long-Term Liabilities, respectively.

Segment Information

Segment Information	6 Months Ended
	Oct. 31, 2016
Segment Information [Abstract]
Segment Information	8. Segment Information The Company is a global provider of knowledge and learning services primarily in areas of science, technology, medicine, mathematics/engineering, and business/finance. Effective August 1, 2016, the Company completed a number of changes to its organizational structure that resulted in a change in how the Company manages its businesses, allocates resources and measures performance. As a result, the Company has revised its reportable segments to reflect how management currently reviews financial information and makes operating decisions. For the second quarter ended October 31, 2016, the company’s new segment reporting structure consists of three reportable segments as follows: The Research segment provides scientific, technical, medical, and scholarly journals, as well as related content and services, for academic, corporate, and government libraries, learned societies, and individual researchers and other professionals. Research also includes the Company’s recently acquired Atypon. Atypon is a publishing-software and service provider that enables scholarly and professional societies and publishers to deliver, host, enhance, market and manage their content on the web. Research customers include academic, corporate, government, and public libraries; researchers; scientists; clinicians; engineers and technologists; scholarly and professional societies; and students and professors. The Company’s Research products are sold and distributed globally in digital and print formats through multiple channels, including research libraries and library consortia, independent subscription agents, direct sales to professional society members, and other customers. The Publishing segment provides scientific, professional development, and education books and related content, as well as test preparation services and course workflow tools, to libraries, corporations, students, professionals, and researchers. Communities served include scientific, technical, medical and scholarly research; business, finance, accounting, management, leadership, technology, behavioral health, engineering/architecture, test prep and certification, and education. Products are developed in print and digital formats for worldwide distribution through multiple channels, including chain and online booksellers, libraries, colleges and universities, corporations, direct to consumer, websites, distributor networks and other online applications. The Solutions segment provides online graduate degree program management services for higher education institutions and learning, development, and assessment services for businesses and professionals. Graduate degree programs include business and finance, nursing, engineering, etc. The Company reports its segment information in accordance with the provisions of Financial Accounting Standards Board Accounting Standards Codification Topic 280, “Segment Reporting,” (“FASB ASC Topic 280”). All prior-period amounts have been adjusted to reflect the reportable segment change. The Company uses occupied square footage of space; number of employees; units shipped; specific identification/activity-based; gross profit; revenue and number of invoices to allocate shared service costs to each business segment. Segment information is as follows (in thousands): For the Three Months For the Six Months Ended October 31, Ended October 31, 2016 2015 2016 2015 RESEARCH Revenue $205,994 $207,662 $413,218 $412,364 Contribution to Profit $60,292 $64,199 $120,727 $127,413 PUBLISHING Revenue $163,300 $176,258 $308,261 $348,011 Contribution to Profit $36,490 $34,319 $55,832 $64,145 SOLUTIONS Revenue $56,294 $49,442 $108,394 $95.968 Contribution to Profit $5,359 $2,434 $5,506 $(1,591) Total Contribution to Profit $102,141 $100,952 $182,065 $189,967 Unallocated Shared Services and Administrative Costs (54,497) (40,687) (90,494) (84,793) Operating Income $47,644 $60,265 $91,571 $105,174 The following table reflects total Shared Services and Administrative costs by function, which are partially allocated to business segments based on the methodologies described above: For the Three Months For the Six Months Ended October 31, Ended October 31, Total Shared Services and Administrative Costs: 2016 2015 2016 2015 Distribution & Operation Services $19,146 $20,085 $38,709 $39,864 Technology & Content Management 66,919 62,609 137,223 123,616 Finance 11,942 10,754 23,501 23,310 Other Administration 30,068 31,627 49,651 61,798 One-time Pension Settlement (See Note 12) 8,842 - 8,842 - Restructuring Charges (see Note 7) 5,879 2,798 4,674 5,854 Total $142,796 $127,873 $262,600 $254,442 For the Three Months For the Six Months Ended October 31, Ended October 31, Total Revenue by Product/Service: 2016 2015 2016 2015 Journals $203,516 $207,663 $410,740 $412,364 Books and Reference Material 125,602 142,066 251,161 294,574 Online Program Management 28,007 23,149 51,179 43,697 Corporate Learning 12,141 10,488 27,547 23,237 Professional Assessment 16,146 15,805 29,668 29,034 Course Workflow Solutions 19,840 18,446 20,706 19,466 Platform Services (Atypon) 2,478 - 2,478 - Other 17,858 15,745 36,394 33,971 Total $425,588 $433,362 $829,873 $856,343

Inventories

Inventories	6 Months Ended
	Oct. 31, 2016
Inventories [Abstract]
Inventories	9. Inventories Inventories were as follows (in thousands): As of October 31, As of April 30, 2016 2015 2016 Finished goods $42,063 $46,343 $45,170 Work-in-process 5,055 7,153 7,592 Paper, cloth and other 3,557 4,004 4,867 $50,675 $57,500 $57,629 Inventory value of estimated sales returns 6,028 7,513 4,924 LIFO reserve (4,924) (6,859) (4,774) Total inventories $51,779 $58,154 $57,779

Intangible Assets

Intangible Assets	6 Months Ended
	Oct. 31, 2016
Intangible Assets [Abstract]
Intangible Assets	10. Intangible Assets Intangible assets consisted of the following (in thousands): As of October 31, As of April 30, 2016 2015 2016 Intangible assets with indefinite lives: Brands and trademarks $130,632 $153,456 $147,683 Content and publishing rights 84,274 85,417 87,202 $214,906 $238,873 $234,885 Net intangible assets with determinable lives: Content and publishing rights $406,467 $483,955 $456,881 Customer relationships 182,584 176,236 170,162 Brands and trademarks 17,522 15,587 14,403 Covenants not to compete 1,483 523 676 $608,056 $676,301 $642,122 Total $822,962 $915,174 $877,007

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2016
Income Taxes [Abstract]
Income Taxes	11. Income Taxes The effective tax rate for the first six months of fiscal year 2017 was 76.7%, compared to 22.8% in the prior year. The increase was principally due to the unfavorable German court decision described below. Excluding the expense related to that decision, the rate for the first six months of fiscal year 2017 would have been 19.9%. The effective rate for the second quarter of fiscal year 2017 was 126.4%, compared to 23.0% in the prior year, or 16.9% excluding the impact of the court decision. The rates for both the three month and six month periods, excluding the German court decision, were lower than the prior year’s rates due to a non-cash deferred tax benefit related to legislation enacted in the United Kingdom (“U.K.”) partially offset by a higher tax rate in Germany. The rate for the six month period also benefited from certain tax-free insurance settlements received in the first three months of the current year. During the second quarter of fiscal 2017, the U.K. enacted legislation that further reduces its statutory rates, beginning on April 1, 2020, from 18% to 17%. This resulted in a $2.6 million ($0.04 per share) tax benefit from the re-measurement of the Company’s applicable U.K. deferred tax balances. Unfavorable German Court Decision In fiscal year 2003, the Company reorganized several of its German subsidiaries into a new operating entity which led the Company to claim additional tax amortization deductions over 15 years beginning that fiscal year. In May 2012, as part of its routine tax audit process, the German tax authorities challenged the Company’s tax position. In September 2014, the Company filed an appeal with the local finance court. As required by German tax law, the Company paid all contested taxes and the related interest to avail itself of its right to defend its position. The Company made all required payments with cumulative total deposits of 56.6 million euros (approximately $62 million), including interest. In October 2014, the Company received an unfavorable decision from the local finance court which the Company then appealed in January 2015 to the German Federal Fiscal Court. On September 26, 2016, the Company learned that the court denied the Company’s appeal and its tax position. No further appeals are available. As a result, the Company forfeited its deposit and incurred an income tax charge of $48 million. This one-time predominantly non-cash charge is included in the Company’s income tax expense for the three month and six month periods ending October 31, 2016. In connection with this unfavorable decision, the Company reduced its unrecognized tax benefits by $16 million.

Retirement Plans

Retirement Plans	6 Months Ended
	Oct. 31, 2016
Retirement Plans [Abstract]
Retirement Plans	12. Retirement Plans The components of net pension expense (income) for the Company’s global defined benefit plans were as follows (in thousands): For the Three Months Ended October 31, For the Six Months Ended October 31, 2016 2015 2016 2015 Service cost $251 $367 $503 $737 Interest cost 6,506 7,624 13,704 15,262 Expected return on plan assets (8,656) (10,114) (18,031) (20,286) Net amortization of prior service cost (24) (24) (49) (49) Recognized net actuarial loss 1,270 1,217 2,632 2,387 Pension Plan actuarial loss 8,842 - 8,842 - Disability settlement charge - - - 1,857 Net pension expense (credit) $8,189 $(930) $7,601 $(92) Employer defined benefit pension plan contributions were $3.0 million and $2.9 million for the three months ended October 31, 2016 and 2015, respectively, and $10.6 million and $10.7 million for the six months ended October 31, 2016 and 2015, respectively. Contributions for employer defined contribution plans were approximately $3.5 million and $3.3 million for the three months ended October 31, 2016 and 2015, respectively, and $8.4 million ad $9.1 million for the six months ended October 31, 2016 and 2015, respectively. The Company announced a voluntary, limited-time opportunity for terminated vested employees who are participants in the U.S. Employees’ Retirement Plan of John Wiley & Sons, Inc. (the Pension Plan) to request early payment of their entire Pension Plan benefit in the form of a single lump sum payment. Eligible participants who wished to receive the lump sum payment were required to make an election by August 29, 2016. Approximately 780 eligible participants made the election to receive the lump sum totaling $28.3 million which was paid from Pension Plan assets in October 2016. Settlement accounting rules were applied in the second quarter of fiscal year 2017, which resulted in a plan remeasurement and a recognition of a pro-rata portion of unamortized net actuarial loss of $8.8 million which was recorded in Operating and Administrative Expenses in the Condensed Consolidated Statements of Income. The settlement noted above for the six months ended October 31, 2015 relates to a disability payment made subject to terms of the Company’s Supplemental Executive Retirement Plan.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Oct. 31, 2016
Derivative Instruments and Activities [Abstract]
Derivative Instruments and Activities	13. Derivative Instruments and Hedging Activities The Company, from time-to-time, enters into forward exchange and interest rate swap contracts as a hedge against foreign currency asset and liability commitments, changes in interest rates and anticipated transaction exposures, including intercompany purchases. All derivatives are recognized as assets or liabilities and measured at fair value. Derivatives that are not determined to be effective hedges are adjusted to fair value with a corresponding adjustment to earnings. The Company does not use financial instruments for trading or speculative purposes. Interest Rate Contracts: The Company had $884.0 million of variable rate loans outstanding at October 31, 2016, which approximated fair value. On April 4, 2016, the Company entered into a forward starting interest rate swap agreement which fixed a portion of the variable interest due on a variable rate debt renewal on May 16, 2016. Under the terms of the agreement, the Company will pays a fixed rate of 0.92% and receives a variable rate of interest based on one-month LIBOR (as defined) from the counterparty which is reset every month for a three-year period ending May 15, 2019. As of October 31, 2016, the notional amount of the interest rate swap was $350.0 million. On August 15, 2014, the Company entered into an interest rate swap agreement which fixed a portion of the variable interest due on its variable rate loans outstanding. Under the terms of the agreement, which expired on August 15, 2016, the Company paid a fixed rate of 0.65% and received a variable rate of interest based on one-month LIBOR (as defined) from the counterparty which was reset every month for a two-year period ending August 15, 2016. The interest rate swap agreements maintained by the Company were designated as fully effective cash flow hedges as defined under Accounting Standards Codification (“ASC”) 815 “Derivatives and Hedging”. As a result, there was no impact on the Company’s Condensed Consolidated Statements of Income for changes in the fair value of the interest rate swaps as they were fully offset by changes in the interest expense on the underlying variable rate debt instruments. Under ASC 815, fully effective derivative instruments that are designated as cash flow hedges have changes in their fair value recorded initially within Accumulated Other Comprehensive Loss in the Condensed Consolidated Statements of Financial Position. As interest expense is recognized based on the variable rate loan agreements, the corresponding deferred gain or loss on the interest rate swaps is reclassified from Accumulated Other Comprehensive Loss to Interest Expense in the Condensed Consolidated Statements of Income. It is management’s intention that the notional amount of interest rate swaps be less than the variable rate loans outstanding during the life of the derivatives. The Company records the fair value of its interest rate swaps on a recurring basis using Level 2 inputs of quoted prices for similar assets or liabilities in active markets. The fair value of the interest rate swaps as of October 31, 2016 and 2015 and April 30, 2016 was a deferred loss of $0.2 million, $0.4 million, and $0.6 million, respectively. Based on the maturity dates of the contracts, the entire deferred losses of $0.2 million and $0.4 million as of October 31, 2016 and October 31, 2015 were recorded in Other Long-Term Liabilities and Other Accrued Liabilities, respectively. Approximately $0.1 million of the deferred loss as of April 30, 2016 was recorded in Other Accrued Liabilities, with the remaining deferred loss of $0.5 million recorded Other Long-Term Liabilities. The pre-tax losses that were reclassified from Accumulated Other Comprehensive Loss into Interest Expense for the three months ended October 31, 2016 and 2015 were $0.4 million and $0.3 million, respectively. The pre-tax losses that were reclassified from Accumulated Other Comprehensive Loss into Interest Expense for the six months ended October 31, 2016 and 2015 were $0.9 million and $0.6 million, respectively. Foreign Currency Contracts: The Company may enter into forward exchange contracts to manage the Company’s exposure on certain foreign currency denominated assets and liabilities. The forward exchange contracts are marked to market through Foreign Exchange Transaction Gains (Losses) in the Condensed Consolidated Statements of Income, and carried at their fair value in the Condensed Consolidated Statements of Financial Position. Foreign currency denominated assets and liabilities are remeasured at spot rates in effect on the balance sheet date, with the effects of changes in spot rates reported in Foreign Exchange Transaction Gains (Losses). As of October 31, 2016 the Company maintained one open forward contract with a notional amount of 274 million pounds sterling. The Company did not maintain any open forward contracts as of October 31, 2015. As of April 30, 2016, the Company maintained two open forward contracts with notional amounts of 31 million Euros and 274 million pounds sterling. All such forward contracts were entered into to manage foreign currency exposures on intercompany loans. During the first six months of fiscal year 2017, the Company did not designate any forward contracts as hedges under current accounting standards as the benefits of doing so were not material due to the short-term nature of the contracts. The fair value changes in the forward exchange contracts substantially mitigated the changes in the value of the applicable foreign currency denominated assets and liabilities. As of October 31, 2016, the fair value of the open forward exchange contract was a gain of approximately $66.0 million and recorded within the Prepaid and Other current assets in the Condensed Consolidated Statements of Financial Position. The fair value was measured on a recurring basis using Level 2 inputs. For the three and six months ended October 31, 2016, the gains recognized on the forward contracts were $25.4 million and $64.7 million, respectively.

Recent Accounting Standards (Po

Recent Accounting Standards (Policies)	6 Months Ended
	Oct. 31, 2016
Recent Accounting Standards [Abstract]
Recent Accounting Standards	In October 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-16 “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other than Inventory” which simplifies the accounting for the income tax consequences of intra-entity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. The new guidance states that an entity should recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. Consequently, the amendments in this Update eliminate the exception for an intra-entity transfer of an asset other than inventory. The standard is effective for the company on May 1, 2018, with early adoption permitted. The Company expects no initial impact on the adoption. In August 2016, the FASB issued ASU 2016-15 “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”, which provides clarification on classifying a variety of activities within the Statement of Cash flows. The standard is effective for the company on May 1, 2018, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its statement of cash flows. In March 2016, the FASB issued ASU 2016-09 “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting” which simplifies the accounting for share-based payment transactions, including income taxes, classification of awards as either equity or liabilities, and classification on the statement of cash flows. The new guidance also allows an entity to make an accounting policy election to account for forfeitures when they occur or to estimate the number of awards that are expected to vest with a subsequent true up to actual forfeitures (current GAAP). The standard is effective for the Company on May 1, 2017, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In February 2016, the FASB issued ASU 2016-02 "Leases (Topic 842)”. ASU 2016-02 requires lessees to recognize most leases on the balance sheet which will result in an increase in reported assets and liabilities. The recognition of expenses within the income statement is consistent with the existing lease accounting standards. There are no significant changes in the new standard for lessors under operating leases. The standard is effective for the Company on May 1, 2019 with early adoption permitted. Adoption requires application of the new guidance for all periods presented. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In November 2015, the FASB issued ASU 2015-17 “Income Taxes- Balance Sheet Classification of Deferred Taxes”. To simplify the presentation of deferred income taxes, the amendments in this update require that all deferred tax assets and liabilities, including those previously classified as current, be classified as a single noncurrent line in a classified statement of financial position. The amendments in the standard will align the presentation of deferred income tax assets and liabilities with International Financial Reporting Standards (“IFRS”). The standard is effective for the Company on May 1, 2017 with early adoption permitted. The Company will adopt the new guidance on May 1, 2017. The adoption will have no impact on the Company’s results of operations or statement of cash flows. In April 2015, the FASB issued ASU 2015-05 "Intangibles- Goodwill and Other- Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Fees Paid in Cloud Computing Arrangements" (“ASU 2015-05”). Cloud computing arrangements represent the delivery of hosted services over the internet which includes software, platforms, infrastructure and other hosting arrangements. The ASU provides criteria to determine whether the cloud computing arrangement includes a software license. A software license can include customized development, maintenance, hosting and other related costs. If the criteria are met, the customer will capitalize the fee attributable to the software license portion of the arrangement as internal-use software. If the arrangement does not include a software license, it should be treated as a service contract. The Company adopted the new guidance on a prospective basis for all arrangements entered into or materially modified after May 1, 2016. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers" (Topic 606) (“ASU 2014-09”), and the International Accounting Standards Board (“IASB”) published its equivalent standard, IFRS 15, “Revenue from Contracts with Customers”. These joint comprehensive new revenue recognition standards will supersede most existing revenue recognition guidance and are intended to improve and converge revenue recognition and related financial reporting requirements. The standard is effective for the Company on May 1, 2018 with early adoption permitted on May 1, 2017. The standard allows for either “full retrospective” adoption, meaning the standard is applied to all periods presented, or “cumulative effect” adoption, meaning the standard is applied only to the most current period presented in the financial statements. Subsequently, the FASB issued ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations” (“ASU 2016-08”), ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing” (“ASU 2016-10”), and issued ASU 2016-12, “Revenue from Contracts with Customers (Topic 606) – Narrow Scope Improvements and Practical Expedients” (“ASU 2016-12”), which provide clarification and additional guidance related to ASU 2014-09. The Company must adopt ASU 2016-08, ASU 2016-10, and ASU 2016-12 with ASU 2014-09. The Company is currently assessing whether the adoption of the new guidance will have a significant impact on its consolidated financial statements.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Oct. 31, 2016
Share-Based Compensation [Abstract]
Schedule of Restricted Stock Data for Awards Granted	The following table provides restricted stock data for awards granted by the Company: For the Six Months Ended October 31, 2016 2015 Restricted Stock: Awards granted (in thousands) 509 289 Weighted average fair value of grant $50.56 $55.91
Weighted-Average Black-Scholes Fair Value Assumptions by Stock Option Grants	The weighted average Black-Scholes fair value assumptions for the fiscal year 2016 stock option grants were as follows: Expected life of options (years) 7.2 Risk-free interest rate 2.1 % Expected volatility 29.7 % Expected dividend yield 2.1 % Fair value of common stock on grant date $ 55.99

Accumulated Other Comprehensi22

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Oct. 31, 2016
Accumulated Other Comprehensive Loss [Abstract]
Changes in Accumulated Other Comprehensive Loss by Component, Net of Tax	Changes in Accumulated Other Comprehensive Loss by component, net of tax, for the three and six months ended October 31, 2016 and 2015 were as follows (in thousands): Foreign Unamortized Interest Currency Retirement Rate Translation Costs Swaps Total Balance at July 31, 2016 $(312,560) $(170,401) $(1,191) $(484,152) Other comprehensive income (loss) before reclassifications (25,824) 15,826 1,200 (8,798) Amounts reclassified from accumulated other comprehensive loss - 6,325 (24) 6,301 Total other comprehensive income (loss) (25,824) 22,151 1,176 (2,497) Balance at October 31, 2016 $(338,384) $(148,250) $(15) $(486,649) Balance at April 30, 2016 $(267,920) $(179,405) $(361) $(447,686) Other comprehensive income (loss) before reclassifications (70,464) 25,494 97 (44,873) Amounts reclassified from accumulated other comprehensive loss - 5,661 249 5,910 Total other comprehensive income (loss) (70,464) 31,155 346 (38,963) Balance at October 31, 2016 $(338,384) $(148,250) $(15) $(486,649) Foreign Unamortized Interest Currency Retirement Rate Translation Costs Swaps Total Balance at July 31, 2015 $(227,748) $(159,918) $(252) $(387,918) Other comprehensive income (loss) before reclassifications (14,242) 1,382 (145) (13,005) Amounts reclassified from accumulated other comprehensive loss - 1,383 173 1,556 Total other comprehensive income (loss) (14,242) 2,765 28 (11,449) Balance at October 31, 2015 $(241,990) $(157,153) $(224) $(399,367) Balance at April 30, 2015 $(246,854) $(159,434) $(345) $(406,633) Other comprehensive income (loss) before reclassifications 4,864 (1,075) (229) 3,560 Amounts reclassified from accumulated other comprehensive loss - 3,356 350 3,706 Total other comprehensive income (loss) $4,864 $2,281 $121 $7,266 Balance at October 31, 2015 $(241,990) $(157,153) $(224) $(399,367)

Reconciliation of Weighted Av23

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases (Tables)	6 Months Ended
	Oct. 31, 2016
Reconciliation of Weighted Average Shares Outstanding and Share Repurchases [Abstract]
Reconciliation of Shares Used in Computation of Earnings Per Share	A reconciliation of the shares used in the computation of earnings per share follows (in thousands): For the Three Months Ended October 31, For the Six Months Ended October 31, 2016 2015 2016 2015 Weighted average shares outstanding 57,759 58,455 57,717 58,686 Less: Unearned restricted shares (221) (292) (223) (253) Shares used for basic earnings per share 57,538 58,163 57,494 58,433 Dilutive effect of stock options and other stock awards - 627 765 657 Shares used for diluted earnings per share 57,538 58,790 58,259 59,090

Restructuring and Reinvestmen24

Restructuring and Reinvestment Program (Tables)	6 Months Ended
	Oct. 31, 2016
Restructuring and Reinvestment Program [Abstract]
Pre-tax Restructuring Charges	The following tables summarize the pre-tax restructuring charges (credits) related to this program (in thousands): Cumulative Program For the Three Months For the Six Months Charges Ended October 31, Ended October 31, to Date 2016 2015 2016 2015 Charges (Credits) by Segment: Research $229 $496 $160 $866 $18,367 Publishing 215 260 569 259 31,461 Solutions 524 140 524 140 1,289 Shared Services 5,879 2,798 4,674 5,854 79,399 Total $6,847 $3,694 $5,927 $7,119 $130,516 Charges (Credits) by Activity: Severance $4,322 $753 $4,579 $2,570 83,783 Process Reengineering Consulting - 2,948 7 6,194 18,673 Other Activities 2,525 (7) 1,341 (1,645) 28,060 Total $6,847 $3,694 $5,927 $7,119 $130,516
Activity for Restructuring and Reinvestment Program Liability	The following table summarizes the activity for the Restructuring and Reinvestment Program liability for the six months ended October 31, 2016 (in thousands): Foreign April 30, Translation & October 31, 2016 Charges Payments Reclassifications 2016 Severance $16,657 4,579 $(8,018) $(515) $12,703 Process Reengineering Consulting - 7 (7) - - Other Activities 11,852 1,341 (2,745) 2,813 13,261 Total $28,509 5,927 $(10,770) $2,298 $25,964

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Oct. 31, 2016
Segment Information [Abstract]
Segment Information	Segment information is as follows (in thousands): For the Three Months For the Six Months Ended October 31, Ended October 31, 2016 2015 2016 2015 RESEARCH Revenue $205,994 $207,662 $413,218 $412,364 Contribution to Profit $60,292 $64,199 $120,727 $127,413 PUBLISHING Revenue $163,300 $176,258 $308,261 $348,011 Contribution to Profit $36,490 $34,319 $55,832 $64,145 SOLUTIONS Revenue $56,294 $49,442 $108,394 $95.968 Contribution to Profit $5,359 $2,434 $5,506 $(1,591) Total Contribution to Profit $102,141 $100,952 $182,065 $189,967 Unallocated Shared Services and Administrative Costs (54,497) (40,687) (90,494) (84,793) Operating Income $47,644 $60,265 $91,571 $105,174
Schedule of Shared Services and Administrative Costs by Function	The following table reflects total Shared Services and Administrative costs by function, which are partially allocated to business segments based on the methodologies described above: For the Three Months For the Six Months Ended October 31, Ended October 31, Total Shared Services and Administrative Costs: 2016 2015 2016 2015 Distribution & Operation Services $19,146 $20,085 $38,709 $39,864 Technology & Content Management 66,919 62,609 137,223 123,616 Finance 11,942 10,754 23,501 23,310 Other Administration 30,068 31,627 49,651 61,798 One-time Pension Settlement (See Note 12) 8,842 - 8,842 - Restructuring Charges (see Note 7) 5,879 2,798 4,674 5,854 Total $142,796 $127,873 $262,600 $254,442 For the Three Months For the Six Months Ended October 31, Ended October 31, Total Revenue by Product/Service: 2016 2015 2016 2015 Journals $203,516 $207,663 $410,740 $412,364 Books and Reference Material 125,602 142,066 251,161 294,574 Online Program Management 28,007 23,149 51,179 43,697 Corporate Learning 12,141 10,488 27,547 23,237 Professional Assessment 16,146 15,805 29,668 29,034 Course Workflow Solutions 19,840 18,446 20,706 19,466 Platform Services (Atypon) 2,478 - 2,478 - Other 17,858 15,745 36,394 33,971 Total $425,588 $433,362 $829,873 $856,343

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Oct. 31, 2016
Inventories [Abstract]
Schedule of Inventories	Inventories were as follows (in thousands): As of October 31, As of April 30, 2016 2015 2016 Finished goods $42,063 $46,343 $45,170 Work-in-process 5,055 7,153 7,592 Paper, cloth and other 3,557 4,004 4,867 $50,675 $57,500 $57,629 Inventory value of estimated sales returns 6,028 7,513 4,924 LIFO reserve (4,924) (6,859) (4,774) Total inventories $51,779 $58,154 $57,779

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Oct. 31, 2016
Intangible Assets [Abstract]
Schedule of Intangible Assets	Intangible assets consisted of the following (in thousands): As of October 31, As of April 30, 2016 2015 2016 Intangible assets with indefinite lives: Brands and trademarks $130,632 $153,456 $147,683 Content and publishing rights 84,274 85,417 87,202 $214,906 $238,873 $234,885 Net intangible assets with determinable lives: Content and publishing rights $406,467 $483,955 $456,881 Customer relationships 182,584 176,236 170,162 Brands and trademarks 17,522 15,587 14,403 Covenants not to compete 1,483 523 676 $608,056 $676,301 $642,122 Total $822,962 $915,174 $877,007

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Oct. 31, 2016
Retirement Plans [Abstract]
Components of Net Pension Expense (Income)	The components of net pension expense (income) for the Company’s global defined benefit plans were as follows (in thousands): For the Three Months Ended October 31, For the Six Months Ended October 31, 2016 2015 2016 2015 Service cost $251 $367 $503 $737 Interest cost 6,506 7,624 13,704 15,262 Expected return on plan assets (8,656) (10,114) (18,031) (20,286) Net amortization of prior service cost (24) (24) (49) (49) Recognized net actuarial loss 1,270 1,217 2,632 2,387 Pension Plan actuarial loss 8,842 - 8,842 - Disability settlement charge - - - 1,857 Net pension expense (credit) $8,189 $(930) $7,601 $(92)

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 4.6	$ 4.2	$ 4.9	$ 8.1
Restricted Stock [Member]
Restricted stock data for awards granted by the Company [Abstract]
Awards granted (in shares)			509,000	289,000
Weighted average fair value of grant (in dollars per share)	$ 50.56	$ 55.91	$ 50.56	$ 55.91
Performance-based Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for achievement of performance-based targets			3 years
Stock Options [Member]
Restricted stock data for awards granted by the Company [Abstract]
Awards granted (in shares)			0	160,153
Weighted average fair value of grant (in dollars per share)				$ 14.77
Weighted-average Black-Scholes fair value assumptions by stock option grants [Abstract]
Expected life of options			7 years 2 months 12 days
Risk-free interest rate			2.10%
Expected volatility			29.70%
Expected dividend yield			2.10%
Fair value of common stock on grant date (in dollars per share)	$ 55.99		$ 55.99

Accumulated Other Comprehensi30

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			$ 1,037,106
Other comprehensive income (loss) before reclassifications	$ (8,798)	$ (13,005)	(44,873)	$ 3,560
Amounts reclassified from accumulated other comprehensive loss	6,301	1,556	5,910	3,706
Total Other Comprehensive Income (Loss)	(2,497)	(11,449)	(38,963)	7,266
Balance	981,501	1,067,673	981,501	1,067,673
Accumulated Other Comprehensive Loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(484,152)	(387,918)	(447,686)	(406,633)
Balance	(486,649)	(399,367)	(486,649)	(399,367)
Foreign Currency Translation [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(312,560)	(227,748)	(267,920)	(246,854)
Other comprehensive income (loss) before reclassifications	(25,824)	(14,242)	(70,464)	4,864
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total Other Comprehensive Income (Loss)	(25,824)	(14,242)	(70,464)	4,864
Balance	(338,384)	(241,990)	(338,384)	(241,990)
Unamortized Retirement Costs [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(170,401)	(159,918)	(179,405)	(159,434)
Other comprehensive income (loss) before reclassifications	15,826	1,382	25,494	(1,075)
Amounts reclassified from accumulated other comprehensive loss	6,325	1,383	5,661	3,356
Total Other Comprehensive Income (Loss)	22,151	2,765	31,155	2,281
Balance	(148,250)	(157,153)	(148,250)	(157,153)
Interest Rate Swaps [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(1,191)	(252)	(361)	(345)
Other comprehensive income (loss) before reclassifications	1,200	(145)	97	(229)
Amounts reclassified from accumulated other comprehensive loss	(24)	173	249	350
Total Other Comprehensive Income (Loss)	1,176	28	346	121
Balance	$ (15)	$ (224)	$ (15)	$ (224)

Accumulated Other Comprehensi31

Accumulated Other Comprehensive Loss, Reclassification out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Operating and administrative expenses	$ 247,270	$ 240,136	$ 482,497	$ 482,836
Unamortized Retirement Costs [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Operating and administrative expenses	$ 10,000	$ 2,100	$ 8,700	$ 5,100

Reconciliation of Weighted Av32

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases (Details) - $ / shares	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Reconciliation of Weighted Average Shares Outstanding and Share Repurchases [Abstract]
Weighted average shares outstanding (in shares)	57,759,000	58,455,000	57,717,000	58,686,000
Less: Unearned restricted shares (in shares)	(221,000)	(292,000)	(223,000)	(253,000)
Shares used for basic earnings per share (in shares)	57,538,000	58,163,000	57,494,000	58,433,000
Dilutive effect of stock options and other stock awards (in shares)	0	627,000	765,000	657,000
Shares used for diluted earnings per share (in shares)	57,538,000	58,790,000	58,259,000	59,090,000
Shares repurchased (in shares)	193,955	637,717	415,260	868,137
Average purchase price (in dollars per share)	$ 51.56	$ 50.15	$ 51.27	$ 51.49
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from diluted EPS calculation (in shares)		0	42,783	91,590
Stock Options [Member] | Class A Common [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from diluted EPS calculation (in shares)		339,003	315,425	339,003

Acquisitions (Details)

Acquisitions (Details) $ / shares in Units, $ in Thousands, Article in Millions	Sep. 30, 2016USD ($)EmployeeJournalArticleWebSiteSocietyandPublisher	Oct. 31, 2016USD ($)$ / shares	Oct. 31, 2015USD ($)$ / shares	Oct. 31, 2016USD ($)$ / shares	Oct. 31, 2015USD ($)$ / shares	Dec. 31, 2015USD ($)	Apr. 30, 2016USD ($)
Business Acquisition [Line Items]
Cash paid for acquisition, net of cash acquired				$ 135,753	$ 16,681
Revenue		$ 425,588	$ 433,362	829,873	856,343
Goodwill		$ 974,068	$ 965,571	$ 974,068	$ 965,571		$ 951,663
Loss per share (in dollars per share) | $ / shares		$ (0.20)	$ 0.75	$ 0.34	$ 1.30
Atypon Systems Inc [Member]
Business Acquisition [Line Items]
Cash paid for acquisition, net of cash acquired	$ 121,000
Number of employees | Employee	260
Revenue		$ 2,500		$ 2,500
Goodwill	$ 74,000
Working capital	3,000
Estimated useful life of intangible assets acquired				13 years
Loss per share (in dollars per share) | $ / shares		$ (0.01)		$ (0.01)
Atypon Systems Inc [Member] | Minimum [Member]
Business Acquisition [Line Items]
Revenue						$ 31,000
Atypon Systems Inc [Member] | Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets	21,000
Atypon Systems Inc [Member] | Software [Member]
Business Acquisition [Line Items]
Intangible assets	18,000
Atypon Systems Inc [Member] | Other [Member]
Business Acquisition [Line Items]
Intangible assets	$ 5,000
Atypon Systems Inc [Member] | Literatum [Member]
Business Acquisition [Line Items]
Number of journals hosted | Journal	9,000
Number of journal articles hosted | Article	13
Percentage of World's English-language Scholarly Journals Hosted by e-publishing Platform	33.33%
Atypon Systems Inc [Member] | Literatum [Member] | Minimum [Member]
Business Acquisition [Line Items]
Number of publication web sites hosted | WebSite	1,800
Number of societies and publishers hosted | SocietyandPublisher	200

Restructuring and Reinvestmen34

Restructuring and Reinvestment Program (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		54 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 6,847	$ 3,694	$ 5,927	$ 7,119
Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	6,847	3,694	5,927	7,119	$ 130,516
Restructuring and Reinvestment Program [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	4,322	753	4,579	2,570	83,783
Restructuring and Reinvestment Program [Member] | Process Reengineering Consulting [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	2,948	7	6,194	18,673
Restructuring and Reinvestment Program [Member] | Other Activities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2,525	(7)	1,341	(1,645)	28,060
Research [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	229	496	160	866	18,367
Publishing [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	215	260	569	259	31,461
Solutions [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	524	140	524	140	1,289
Shared Services [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5,879	$ 2,798	$ 4,674	$ 5,854	$ 79,399

Restructuring and Reinvestmen35

Restructuring and Reinvestment Program, Activity for Restructuring and Reinvestment Program Liability (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		54 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Charges	$ 6,847	$ 3,694	$ 5,927	$ 7,119
Payments			(10,770)	(18,339)
Restructuring and Reinvestment Program [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			28,509
Charges	6,847	3,694	5,927	7,119	$ 130,516
Payments			(10,770)
Foreign translation & reclassifications			2,298
Restructuring liability, end of period	25,964		25,964		25,964
Restructuring and Reinvestment Program [Member] | Severance [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			16,657
Charges	4,322	753	4,579	2,570	83,783
Payments			(8,018)
Foreign translation & reclassifications			(515)
Restructuring liability, end of period	12,703		12,703		12,703
Restructuring and Reinvestment Program [Member] | Process Reengineering Consulting [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			0
Charges	0	2,948	7	6,194	18,673
Payments			(7)
Foreign translation & reclassifications			0
Restructuring liability, end of period	0		0		0
Restructuring and Reinvestment Program [Member] | Other Activities [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			11,852
Charges	2,525	$ (7)	1,341	$ (1,645)	28,060
Payments			(2,745)
Foreign translation & reclassifications			2,813
Restructuring liability, end of period	13,261		13,261		13,261
Restructuring and Reinvestment Program [Member] | Other Activities [Member] | Other Accrued Liabilities [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, end of period	3,300		3,300		3,300
Restructuring and Reinvestment Program [Member] | Other Activities [Member] | Other Long-Term Liabilities [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, end of period	$ 10,000		$ 10,000		$ 10,000

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Oct. 31, 2016USD ($)Segment	Oct. 31, 2015USD ($)
Segment Information [Abstract]
Number of reportable segments | Segment			3
Segment Reporting Information [Line Items]
Revenue	$ 425,588	$ 433,362	$ 829,873	$ 856,343
Shared services and administrative costs	(142,796)	(127,873)	(262,600)	(254,442)
Operating income	47,644	60,265	91,571	105,174
Operating Segments [Member]
Segment Reporting Information [Line Items]
Contribution to profit	102,141	100,952	182,065	189,967
Operating Segments [Member] | Research [Member]
Segment Reporting Information [Line Items]
Revenue	205,994	207,662	413,218	412,364
Contribution to profit	60,292	64,199	120,727	127,413
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Revenue	163,300	176,258	308,261	348,011
Contribution to profit	36,490	34,319	55,832	64,145
Operating Segments [Member] | Solutions [Member]
Segment Reporting Information [Line Items]
Revenue	56,294	49,442	108,394	95,968
Contribution to profit	5,359	2,434	5,506	(1,591)
Unallocated [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	$ (54,497)	$ (40,687)	$ (90,494)	$ (84,793)

Segment Information, Shared Ser

Segment Information, Shared Services and Administrative Costs by Function (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Segment Reporting Information [Line Items]
Shared services and administrative costs	$ 142,796	$ 127,873	$ 262,600	$ 254,442
One-Time Pension Settlement [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	8,842	0	8,842	0
Restructuring Charges [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	5,879	2,798	4,674	5,854
Distribution and Operation Services [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	19,146	20,085	38,709	39,864
Technology and Content Management [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	66,919	62,609	137,223	123,616
Finance [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	11,942	10,754	23,501	23,310
Other Administration [Member]
Segment Reporting Information [Line Items]
Shared services and administrative costs	$ 30,068	$ 31,627	$ 49,651	$ 61,798

Segment Information, Total Reve

Segment Information, Total Revenue by Product/Service (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2016	Oct. 31, 2015	Oct. 31, 2016	Oct. 31, 2015
Revenue from External Customer [Line Items]
Revenue	$ 425,588	$ 433,362	$ 829,873	$ 856,343
Journals [Member]
Revenue from External Customer [Line Items]
Revenue	203,516	207,663	410,740	412,364
Books and Reference Material [Member]
Revenue from External Customer [Line Items]
Revenue	125,602	142,066	251,161	294,574
Online Program Management [Member]
Revenue from External Customer [Line Items]
Revenue	28,007	23,149	51,179	43,697
Corporate Learning [Member]
Revenue from External Customer [Line Items]
Revenue	12,141	10,488	27,547	23,237
Professional Assessment [Member]
Revenue from External Customer [Line Items]
Revenue	16,146	15,805	29,668	29,034
Course Workflow Solutions [Member]
Revenue from External Customer [Line Items]
Revenue	19,840	18,446	20,706	19,466
Platform Services (Atypon) [Member]
Revenue from External Customer [Line Items]
Revenue	2,478	0	2,478	0
Other [Member]
Revenue from External Customer [Line Items]
Revenue	$ 17,858	$ 15,745	$ 36,394	$ 33,971

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Inventories [Abstract]
Finished goods	$ 42,063	$ 45,170	$ 46,343
Work-in-process	5,055	7,592	7,153
Paper, cloth and other	3,557	4,867	4,004
Gross inventory	50,675	57,629	57,500
Inventory value of estimated sales returns	6,028	4,924	7,513
LIFO reserve	(4,924)	(4,774)	(6,859)
Total inventories	$ 51,779	$ 57,779	$ 58,154

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Thousands	Oct. 31, 2016	Apr. 30, 2016	Oct. 31, 2015
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	$ 214,906	$ 234,885	$ 238,873
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	608,056	642,122	676,301
Total	822,962	877,007	915,174
Brands and Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	130,632	147,683	153,456
Content and Publishing Rights [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	84,274	87,202	85,417
Content and Publishing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	406,467	456,881	483,955
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	182,584	170,162	176,236
Brands and Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	17,522	14,403	15,587
Covenants Not to Compete [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	$ 1,483	$ 676	$ 523

Income Taxes (Details)

Income Taxes (Details) $ / shares in Units, $ in Thousands, € in Millions	Apr. 01, 2020	Oct. 31, 2016USD ($)$ / shares	Oct. 31, 2015	Oct. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Oct. 31, 2016EUR (€)
Income Taxes [Abstract]
Effective tax rate		126.40%	23.00%	76.70%	22.80%
Percentage of effective tax rate excluding impact of foreign court decision		16.90%		19.90%
Income Tax Contingency [Line Items]
Income tax charge related to unfavorable tax settlement				$ 47,531	$ 0
Foreign Tax Authority [Member] | U.K. [Member]
Income Tax Contingency [Line Items]
Foreign statutory tax rate				17.00%
Tax benefit from the re-measurement legislation enacted		$ 2,600
Deferred tax benefits associated with new tax legislation enacted (in dollars per share) | $ / shares		$ 0.04
Foreign Tax Authority [Member] | U.K. [Member] | Scenario, Forecast [Member]
Income Tax Contingency [Line Items]
Foreign statutory tax rate	18.00%
Foreign Tax Authority [Member] | Germany [Member]
Income Tax Contingency [Line Items]
Expected tax benefits amortization period				15 years
Deposits paid to date		$ 62,000		$ 62,000		€ 56.6
Income tax charge related to unfavorable tax settlement				47,531
Decrease in unrecognized tax benefits				$ (16,000)

Retirement Plans (Details)

Retirement Plans (Details) $ in Thousands	Aug. 29, 2016USD ($)Participant	Oct. 31, 2016USD ($)	Oct. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Oct. 31, 2016USD ($)	Oct. 31, 2015USD ($)
Defined benefit plans, net periodic benefit cost [Abstract]
Service cost			$ 251	$ 367	$ 503	$ 737
Interest cost			6,506	7,624	13,704	15,262
Expected return on plan assets			(8,656)	(10,114)	(18,031)	(20,286)
Net amortization of prior service cost			(24)	(24)	(49)	(49)
Recognized net actuarial loss			1,270	1,217	2,632	2,387
Pension Plan actuarial loss			8,842	0	8,842	0
Disability settlement charge			0	0	0	1,857
Net pension expense (credit)			8,189	(930)	7,601	(92)
Pension plan contributions			3,000	2,900	10,600	10,700
Additional contribution to defined contribution plan			3,500	$ 3,300	8,400	9,100
Number of eligible participants | Participant	780
Total liability for early payment of pension plan benefit in a single lump sum payment	$ 28,300
Lump sum payment for early payment of pension plan benefit		$ 28,300
Net actuarial loss related to early lump sum payment of pension plan benefit			$ 8,842		$ 8,842	$ 0

Derivative Instruments and He43

Derivative Instruments and Hedging Activities (Details) € in Millions, £ in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Oct. 31, 2016USD ($)Contract	Oct. 31, 2015USD ($)	Oct. 31, 2016USD ($)Contract	Oct. 31, 2015USD ($)	Oct. 31, 2016GBP (£)Contract	Apr. 30, 2016USD ($)Contract	Apr. 30, 2016EUR (€)Contract	Apr. 30, 2016GBP (£)Contract
Derivative [Line Items]
Variable rate loans outstanding	$ 884		$ 884
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Expense [Member]
Derivative [Line Items]
Net losses reclassified from Accumulated Other Comprehensive Loss	0.4	$ 0.3	0.9	$ 0.6
Interest Rate Swaps [Member] | Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Fair value of derivative instrument	0.2	0.4	0.2	0.4		$ 0.6
Interest Rate Swaps [Member] | Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Accrued Liabilities [Member]
Derivative [Line Items]
Fair value of derivative instrument		$ 0.4		$ 0.4		0.1
Interest Rate Swaps [Member] | Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Long-Term Liabilities [Member]
Derivative [Line Items]
Fair value of derivative instrument	$ 0.2		$ 0.2			$ 0.5
Interest Rate Swaps [Member] | April 2016 Interest Rate Swap (Variable Rate Loans) [Member] | LIBOR [Member]
Derivative [Line Items]
Inception date			Apr. 4, 2016
Fixed interest rate to be paid	0.92%		0.92%		0.92%
Description of variable rate basis			one-month LIBOR
Term of derivative instrument			3 years
Expiration date			May 15, 2019
Notional amount of derivative liability	$ 350		$ 350
Interest Rate Swaps [Member] | August 2014 Interest Rate Swap (Variable Rate Loans) [Member] | LIBOR [Member]
Derivative [Line Items]
Inception date			Aug. 15, 2014
Fixed interest rate to be paid	0.65%		0.65%		0.65%
Description of variable rate basis			one-month LIBOR
Term of derivative instrument			2 years
Expiration date			Aug. 15, 2016
Forward Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Number of open derivative contracts held | Contract	1		1		1	2	2	2
Forward Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Transaction Gains (Losses) [Member]
Derivative [Line Items]
Gain recognized on derivative instruments	$ 66		$ 66
Gain on fair value of derivative instruments	$ 25.4		$ 64.7
Forward Exchange Contract One [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount of derivative liability | £					£ 274			£ 274
Forward Exchange Contract Two [Member] | Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Notional amount of derivative liability | €							€ 31