John Wiley & Sons (WLY) 10-Q 7 Mar 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Jan. 31, 2018	Feb. 28, 2018
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	2,018
Document Fiscal Period Focus	Q3
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jan. 31, 2018
Common Stock Class A [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		48,259,778
Common Stock Class B [Member]
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,156,993

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - UNAUDITED - USD ($) $ in Thousands	Jan. 31, 2018	Apr. 30, 2017
Current Assets
Cash and cash equivalents	$ 128,217	$ 58,516
Accounts receivable, net	239,637	188,679
Inventories, net	43,800	47,852
Prepaid and other current assets	64,001	64,688
Total Current Assets	475,655	359,735
Product Development Assets	85,028	80,385
Royalty Advances	37,177	28,320
Technology, Property & Equipment, net	273,634	243,058
Intangible Assets, net	868,631	828,099
Goodwill	1,028,395	982,101
Other Non-Current Assets	90,325	84,519
Total Assets	2,858,845	2,606,217
Current Liabilities
Accounts and royalties payable	204,606	139,206
Deferred revenue	409,011	436,235
Accrued employment costs	99,317	98,185
Accrued income taxes	18,726	22,222
Accrued pension liability	5,875	5,776
Other accrued liabilities	95,479	86,232
Total Current Liabilities	833,014	787,856
Long-Term Debt	428,200	365,000
Accrued Pension Liability	210,639	214,597
Deferred Income Tax Liabilities	140,395	160,491
Other Long-Term Liabilities	78,271	75,136
Total Liabilities	1,690,519	1,603,080
Shareholders' Equity
Additional paid-in capital	405,967	387,896
Retained earnings	1,798,446	1,715,423
Accumulated other comprehensive loss	(433,178)	(507,287)
Treasury stock (Class A - 21,875,409 and 22,096,970 as of January 31, 2018 and April 30, 2017, respectively; Class B - 3,917,574 and 3,917,574 as of January 31, 2018 and April 30, 2017, respectively)	(686,091)	(676,077)
Total Shareholders' Equity	1,168,326	1,003,137
Total Liabilities & Shareholders' Equity	2,858,845	2,606,217
Class A [Member]
Shareholders' Equity
Common Stock	70,107	70,086
Class B [Member]
Shareholders' Equity
Common Stock	$ 13,075	$ 13,096

CONDENSED CONSOLIDATED STATEME3

CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - UNAUDITED (Parenthetical) - $ / shares	Jan. 31, 2018	Apr. 30, 2017
Class A [Member]
Shareholders' Equity
Common Stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, shares authorized (in shares)	180,000,000	180,000,000
Common Stock, shares issued (in shares)	70,107,103	70,086,003
Treasury stock (in shares)	21,875,409	22,096,970
Class B [Member]
Shareholders' Equity
Common Stock, par value (in dollars per share)	$ 1	$ 1
Common Stock, shares authorized (in shares)	72,000,000	72,000,000
Common Stock, shares issued (in shares)	13,074,567	13,095,667
Treasury stock (in shares)	3,917,574	3,917,574

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - UNAUDITED - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Revenue	$ 455,675	$ 436,456	$ 1,318,850	$ 1,266,329
Costs and Expenses
Cost of sales	125,127	116,405	359,780	341,457
Operating and administrative expenses	248,746	247,278	731,872	729,775
Restructuring and related charges	2,208	9,118	26,531	15,045
Amortization of intangibles	12,163	12,495	35,965	37,321
Total Costs and Expenses	388,244	385,296	1,154,148	1,123,598
Operating Income	67,431	51,160	164,702	142,731
Interest Expense	(3,295)	(4,931)	(10,023)	(13,362)
Foreign Exchange Transaction (Losses) Gains	(6,032)	2,118	(11,584)	1,979
Interest Income and Other	163	637	744	1,365
Income Before Taxes	58,267	48,984	143,839	132,713
(Benefit) Provision for Income Taxes	(10,575)	1,565	5,713	65,745
Net Income	$ 68,842	$ 47,419	$ 138,126	$ 66,968
Earnings Per Share
Diluted (in dollars per share)	$ 1.19	$ 0.82	$ 2.39	$ 1.15
Basic (in dollars per share)	$ 1.21	$ 0.83	$ 2.42	$ 1.17
Weighted Average Shares Outstanding
Diluted (in shares)	57,871	58,012	57,736	58,181
Basic (in shares)	57,035	57,224	56,979	57,405
Class A Common [Member]
Cash Dividends Per Share
Common stock (in dollars per share)	$ 0.32	$ 0.31	$ 0.96	$ 0.93
Class B Common [Member]
Cash Dividends Per Share
Common stock (in dollars per share)	$ 0.32	$ 0.31	$ 0.96	$ 0.93

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED [Abstract]
Net Income	$ 68,842	$ 47,419	$ 138,126	$ 66,968
Other Comprehensive Income (Loss):
Foreign currency translation adjustment	51,401	7,783	84,442	(62,681)
Unamortized retirement costs, net of tax (benefit) provision of $(2,377), $(444), $(3,085) and $11,012, respectively	(8,587)	(1,765)	(11,113)	29,390
Unrealized gain on interest rate swaps, net of tax provision of $450, $1,357, $478 and $1,569, respectively	734	2,214	780	2,560
Total Other Comprehensive Income (Loss)	43,548	8,232	74,109	(30,731)
Comprehensive Income	$ 112,390	$ 55,651	$ 212,235	$ 36,237

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Other Comprehensive Income (Loss):
Unamortized retirement costs, tax provision (benefit)	$ (2,377)	$ (444)	$ (3,085)	$ 11,012
Unrealized gain on interest rate swaps, tax provision	$ 450	$ 1,357	$ 478	$ 1,569

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW - UNAUDITED - USD ($) $ in Thousands	9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017
Operating Activities
Net income	$ 138,126	$ 66,968
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangibles	35,965	37,321
Amortization of product development assets	30,314	29,502
Depreciation of technology, property and equipment	48,471	50,520
Restructuring charges	26,531	15,045
Restructuring payments	(26,345)	(15,740)
Deferred income tax benefit on UK rate change	0	(2,575)
Unfavorable tax decision	0	47,531
One-time pension settlement	0	8,842
Stock-based compensation expense	6,510	10,187
Excess tax benefit from stock based compensation	0	(227)
Royalty advances	(89,366)	(79,804)
Earned royalty advances	81,976	77,554
Other non-cash charges	(1,376)	26,096
Change in deferred revenue	(56,265)	(7,733)
Net change in operating assets and liabilities	(4,419)	(34,335)
Net Cash Provided by Operating Activities	190,122	229,152
Investing Activities
Product development spending	(30,426)	(31,904)
Additions to technology, property and equipment	(78,958)	(77,722)
Acquisitions, net of cash acquired	(25,227)	(152,110)
Net Cash Used for Investing Activities	(134,611)	(261,736)
Financing Activities
Repayments of long-term debt	(238,951)	(340,207)
Borrowings of long-term debt	305,754	600,900
Change in book overdrafts	(8,884)	(8,866)
Cash dividends	(55,093)	(53,638)
Purchase of treasury stock	(29,257)	(35,362)
Proceeds from exercise of stock options and other	30,606	16,444
Excess tax benefit from stock based compensation	0	227
Net Cash Provided by Financing Activities	4,175	179,498
Effects of Foreign Currency Exchange Rate Changes on Cash and Cash Equivalents	10,015	(28,399)
Cash and Cash Equivalents
Increase for the Period	69,701	118,515
Balance at Beginning of Period	58,516	363,806
Balance at End of Period	128,217	482,321
Cash Paid During the Period for:
Interest	10,766	9,900
Income taxes, net of refunds	$ 39,655	$ 22,491

Basis of Presentation

Basis of Presentation	9 Months Ended
	Jan. 31, 2018
Basis of Presentation [Abstract]
Basis of Presentation	1. Basis of Presentation Throughout this report, when we refer to “Wiley,” the “Company,” “we,” “our,” or “us,” we are referring to John Wiley & Sons, Inc. and all of our subsidiaries, except where the context indicates otherwise. Our unaudited Condensed Consolidated Financial Statements include all of the accounts of the Company and our subsidiaries. We have eliminated all significant intercompany transactions and balances in consolidation. 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 Condensed Consolidated Financial Condition, Results of Operations, Comprehensive Income 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. All amounts are in thousands, except per share amounts, and approximate due to rounding. 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, 2017 as filed with the U.S. Securities and Exchange Commission (“SEC”) on June 29, 2017 (“2017 Form 10-K”). Our Condensed Consolidated Financial Statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) have been condensed or omitted. The preparation of the Company’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP 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 condensed consolidated 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.

Recent Accounting Standards

Recent Accounting Standards	9 Months Ended
	Jan. 31, 2018
Recent Accounting Standards [Abstract]
Recent Accounting Standards	2. Recent Accounting Standards Recently Adopted Accounting Standards Effective April 30, 2017, the Company adopted Accounting Standard Update (“ASU”) 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company elected to adopt this standard prospectively and thus prior period balances were not adjusted. As of April 30, 2017, there were $0.8 million of current deferred tax assets reported within Prepaid and Other Current Assets in the Condensed Consolidated Statements of Financial Position. In March 2016, the Financial Accounting Standards Board (“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 U.S. GAAP). The Company adopted ASU 2016-09 on a prospective basis on May 1, 2017. As a result of the adoption: · Excess income tax benefits and deficiencies from stock-based compensation are now recognized as a discrete item within the Provision for Income Taxes in the Condensed Consolidated Statements of Income, rather than Additional Paid-In-Capital in the Condensed Consolidated Statements of Financial Position, and amounted to $0.6 million for the nine months ended January 31, 2018. · Excess income tax benefits and deficiencies are no longer considered when applying the treasury stock method for computing diluted shares outstanding, which resulted in an increase in diluted shares outstanding of less than 0.1 million. · Excess income tax benefits and deficiencies are now classified as an Operating Activity in the Condensed Consolidated Statements of Cash Flows. There were no excess tax benefits recorded in operating activities for the nine months ended January 31, 2018, while $0.2 million were recorded in Financing Activities for the nine months ended January 31, 2017. · The Company has elected to continue estimating expected forfeitures in determining stock compensation expense each period. Recently Issued Accounting Standards In February 2018, the FASB issued ASU 2018-02 “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The standard is effective for the Company on May 1, 2019 and interim periods within that fiscal year, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In August 2017, the FASB issued ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”, to simplify and improve the application and financial reporting of hedge accounting. The guidance eases the requirements for measuring and reporting hedge ineffectiveness, and clarifies that changes in the fair value of hedging instruments for cash flow, net investment, and fair value hedges should be reflected in the same income statement line item as the earnings effect of the hedged item. The guidance also permits entities to designate specific components in cash flow and interest rate hedges as the hedged risk, instead of using total cash flows. The standard is effective for the Company on May 1, 2019, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In May 2017, the FASB issued ASU 2017-09 “Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting”, which clarifies when changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Under the new guidance, modification accounting is only required if the fair value, vesting conditions or classification (equity or liability) of the new award are different from the original award immediately before the original award is modified. The standard is effective for the Company on May 1, 2018, with early adoption permitted. The new guidance must be applied prospectively to awards modified on or after the adoption date. The future impact of ASU 2017-09 will be dependent on the nature of future stock award modifications. In March 2017, the FASB issued ASU 2017-07 “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The guidance requires that the service cost component of net pension and postretirement benefit costs be reported in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period, while the other components of net benefit costs must be reported separately from the service cost component and below operating income. The guidance also allows only the service cost component to be eligible for capitalization when applicable. The standard is effective for the Company on May 1, 2018, with early adoption permitted. The new guidance must be applied retrospectively for the presentation of net benefit costs in the income statement and prospectively for the capitalization of the service cost component of net benefit costs. Although the Company does not expect the standard to have an impact on its consolidated net income, the Company’s net pension and postretirement costs for the three and nine months ended January 31, 2018 include approximately $2.1 million and $5.9 million of net benefits that will be reclassified from operating income to a line item below operating income upon adoption. The Company’s net pension and retirement costs for three and nine months ended January 31, 2017 include $0.8 million and $2.5 million of net benefits that will be reclassified from operating income to a line item below operating income upon adoption. In January 2017, the FASB issued ASU 2017-04 “Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment”, which simplifies the measurement of a potential goodwill impairment charge by eliminating the requirement to calculate an implied fair value of the goodwill based on the fair value of a reporting unit’s other assets and liabilities. The new guidance eliminates the implied fair value method and instead measures a potential impairment charge based on the excess of a reporting unit’s carrying value compared to its fair value. The impairment charge cannot exceed the total amount of goodwill allocated to that reporting unit. The standard is effective for the Company on May 1, 2020, with early adoption permitted. Based on the Company’s most recent annual goodwill impairment test completed in fiscal year 2018, the Company expects no initial impact on adoption. In January 2017, the FASB issued ASU 2017-01 “Business Combinations (Topic 805): Clarifying the Definition of a Business”, which clarifies the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or business. The standard is effective for the Company on May 1, 2018, with early adoption permitted. The future impact of ASU 2017-01 will be dependent upon the nature of future acquisitions or dispositions made by the Company. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that entities include restricted cash and restricted cash equivalents with cash and cash equivalents in the beginning-of-period and end-of-period total amounts shown on the Statement of Cash Flows. The standard is effective for the Company on May 1, 2018, including interim reporting periods within those fiscal years. Early adoption, including adoption in interim periods, is permitted for all entities. Retrospective transition method is to be applied to each period presented. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In October 2016, the 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 U.S. 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 Standard 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 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 June 2016, the FASB issued ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13 is effective for the Company on May 1, 2020, including interim periods within those fiscal periods, 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 January 2016, the FASB issued ASU 2016-01, “Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”. ASU 2016-01 requires equity investments except those under the equity method of accounting to be measured at fair value with the changes in fair value recognized in net income. The amendment simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. In addition, it also requires enhanced disclosures about investments. The amendments in ASU 2016-01 are effective for the Company on May 1, 2018, including interim periods within those fiscal years. Early application for certain provisions is allowed but early adoption of the amendments is not permitted. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers" (Topic 606) ("ASU 2014-09") which will supersede most existing revenue recognition guidance. The standard is effective for the Company on May 1, 2018. The standard allows for either "full retrospective" adoption, meaning the standard is applied to all periods presented, or "modified retrospective" 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"), ASU 2016-12, "Revenue from Contracts with Customers (Topic 606) – Narrow Scope Improvements and Practical Expedients" ("ASU 2016-12"), and ASU 2016-20, "Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers" ("ASU 2016-20"), which provide clarification and additional guidance related to ASU 2014-09. The Company must adopt ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2016-20 with ASU 2014-09. The Company is utilizing a comprehensive approach to assess the impact of the standard on its contract portfolio by reviewing its current accounting policies and practices to identify potential differences that would result from applying the new standard to its revenue contracts. While this evaluation is ongoing, we currently do not anticipate the impact of the implementation of this standard to be material to our consolidated financial position or results of operations. We currently expect the most significant accounting changes will relate to the following: · Perpetual access licenses – Currently, we recognize revenue for perpetual licenses granted in connection with other deliverables over the life of the associated subscription for future content. Under the new standard it will require us to recognize the revenue allocated to the perpetual access at a point in time, which is at the time when access is granted. · Customers’ Unexercised Rights – Currently, we recognize revenue at the end of a pre-determined period for situations where we have received a nonrefundable payment for a customer to receive a good or service and the customer has not exercised such right, referred to as breakage revenue. Under ASU 2014-09, we will now recognize such breakage amounts as revenue in proportion to the pattern of rights exercised by the customer. We have elected to apply the modified retrospective approach to adopting the new revenue standards where we recognize the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings based on contracts open at the date of adoption. The Company is also in the process of reviewing its current systems, internal controls and processes, and evaluating and making any necessary changes to support the implementation of the new revenue standard.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Jan. 31, 2018
Stock-Based Compensation [Abstract]
Stock-Based Compensation	3. Stock-Based Compensation The Company has stock-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 stock-based compensation in net income on a straight-line basis, net of estimated forfeitures 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 January 31, 2018 and 2017, the Company recognized stock-based compensation expense, on a pre-tax basis, of $4.0 million and $5.3 million, respectively. For the nine months ended January 31, 2018 and 2017, the Company recognized stock-based compensation expense, on a pre-tax basis of $6.5 million and $10.2 million, respectively. The following table summarizes restricted stock awards granted by the Company: Nine Months Ended January 31, 2018 2017 Restricted Stock: Awards granted 528 509 Weighted average fair value of grant $ 53.27 $ 50.56 For the nine months ended January 31, 2018 and 2017, the Company did not grant stock option awards. President and CEO New Hire Equity Awards On October 17, 2017, the Company announced Brian A. Napack as the new President and Chief Executive Officer of the Company effective December 4, 2017 (the "Commencement Date"). Upon the Commencement Date, Mr. Napack also became a member of the Company's Board of Directors (the "Board"). The Employment Letter provides that beginning with the fiscal year 2018-2020 performance cycle, eligibility to participate in annual grants under the Company's Executive Long-Term Incentive Program (ELTIP). Targeted long-term incentive for this cycle is equal to 300% of base salary, or $2.7 million. Sixty percent of the ELTIP value will be delivered in the form of target performance share units and forty percent in restricted share units. The grant date fair value for restricted share units was $59.15 per share and included 20,611 restricted share units which vest 25% each year starting on April 30, 2018 to April 30, 2021. In addition, there was a performance share unit award with a target of 30,916 units and a grant date fair value of $59.15. The performance metrics are based on cumulative EBITDA for fiscal year 2018-2020 and cumulative normalized free cash flow for fiscal year 2018-2020. In addition, the Employment Letter provides for a sign-on grant of restricted share units, with a grant value of $4.0 million, converted to shares using the Company's Class A closing stock price as of the Commencement Date, and vesting in two equal installments on the first and second anniversaries of the employment date. The grant date fair value for this award was $59.15 per share and included 67,625 units at the date of grant. Grants are subject to forfeiture in the case of voluntary termination prior to vesting and accelerated vesting in the case of earlier termination of employment without Cause, due to death or Disability or Constructive Discharge, or upon a Change in Control (as such terms are defined in the Employment Letter). The awards are described in further detail in Mr. Napack’s Employment Letter filed with the SEC as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed on October 17, 2017.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	9 Months Ended
	Jan. 31, 2018
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 nine months ended January 31, 2018 and 2017 were as follows: Foreign Currency Translation Unamortized Retirement Costs Interest Rate Swaps Total Balance at October 31, 2017 $ (286,171 ) $ (193,028 ) $ 2,473 $ (476,726 ) Other comprehensive income (loss) before reclassifications 51,401 (9,686 ) 509 42,224 Amounts reclassified from accumulated other comprehensive loss - 1,099 225 1,324 Total other comprehensive income (loss) 51,401 (8,587 ) 734 43,548 Balance at January 31, 2018 $ (234,770 ) $ (201,615 ) $ 3,207 $ (433,178 ) Balance at April 30, 2017 $ (319,212 ) $ (190,502 ) $ 2,427 $ (507,287 ) Other comprehensive income (loss) before reclassifications 84,442 (14,376 ) 315 70,381 Amounts reclassified from accumulated other comprehensive loss - 3,263 465 3,728 Total other comprehensive income (loss) 84,442 (11,113 ) 780 74,109 Balance at January 31, 2018 $ (234,770 ) $ (201,615 ) $ 3,207 $ (433,178 ) Foreign Currency Translation Unamortized Retirement Costs Interest Rate Swaps Total Balance at October 31, 2016 $ (338,384 ) $ (148,250 ) $ (15 ) $ (486,649 ) Other comprehensive income (loss) before reclassifications 7,783 (2,603 ) 2,284 7,464 Amounts reclassified from accumulated other comprehensive loss - 838 (70 ) 768 Total other comprehensive income (loss) 7,783 (1,765 ) 2,214 8,232 Balance at January 31, 2017 $ (330,601 ) $ (150,015 ) $ 2,199 $ (478,417 ) Balance at April 30, 2016 $ (267,920 ) $ (179,405 ) $ (361 ) $ (447,686 ) Other comprehensive (loss) income before reclassifications (62,681 ) 22,891 2,381 (37,409 ) Amounts reclassified from accumulated other comprehensive loss - 6,499 179 6,678 Total other comprehensive (loss) income (62,681 ) 29,390 2,560 (30,731 ) Balance at January 31, 2017 $ (330,601 ) $ (150,015 ) $ 2,199 $ (478,417 ) During the three months ended January 31, 2018 and 2017, pre-tax actuarial losses included in Unamortized Retirement Costs of approximately $1.5 million and $1.2 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 nine months ended January 31, 2018 and 2017, pre-tax actuarial losses of approximately $4.4 million and $9.9 million, respectively, were amortized.

Reconciliation of Weighted Aver

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases	9 Months Ended
	Jan. 31, 2018
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: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Weighted average shares outstanding 57,170 57,434 57,123 57,624 Less: Unvested restricted shares (135 ) (210 ) (144 ) (219 ) Shares used for basic earnings per share 57,035 57,224 56,979 57,405 Dilutive effect of stock options and other stock awards 836 788 757 776 Shares used for diluted earnings per share 57,871 58,012 57,736 58,181 Since their inclusion in the calculation of diluted earnings per share would have been anti-dilutive, options to purchase 0.3 million shares of Class A Common Stock have been excluded for the nine months ended January 31, 2018 and 2017, respectively. There were no options excluded for the three months ended January 31, 2018 and 0.3 million options were excluded for the three months ended January 31, 2017. In addition, for the nine months ended January 31, 2018 and 2017, less than 0.1 million unvested restricted shares have been excluded as their inclusion would have been antidilutive, respectively. There were no unvested restricted shares excluded for the three months ended January 31, 2018 and 0.1 million unvested restricted shares were excluded for the three months ended January 31, 2017. During the three months ended January 31, 2018, the Company did not repurchase any shares of common stock. During the three months ended January 31, 2017, the Company repurchased 0.3 million shares of common stock at an average price of $55.14. During the nine months ended January 31, 2018 and 2017, the Company repurchased 0.6 million and 0.7 million shares of common stock at an average price of $53.12 and $52.74, respectively.

Acquisitions

Acquisitions	9 Months Ended
	Jan. 31, 2018
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. The Company finalized its purchase accounting for Atypon on July 31, 2017. Atypon’s revenue and operating loss included in the Company’s results for the three months ended January 31, 2018 were $8.3 million and $0.8 million, respectively. Atypon’s revenue and operating loss included in the Company’s results for the nine months ended January 31, 2018 were $24.6 million and $1.8 million, respectively. Atypon’s revenue and operating loss included in the Company’s results for the three months ended January 31, 2017 were $8.0 million and $1.5 million, respectively. Atypon’s revenue and operating loss included in the Company’s results for the nine months ended January 31, 2017 were $10.4 million and $2.0 million, respectively.

Restructuring Charges

Restructuring Charges	9 Months Ended
	Jan. 31, 2018
Restructuring Charges [Abstract]
Restructuring Charges	7. Restructuring Charges 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 most of the cost savings achieved to improve margins and earnings, with the remainder reinvested in growth opportunities. The following tables summarize the pre-tax restructuring charges (credits) related to this program: Three Months Ended January 31, Nine Months Ended January 31, Cumulative Program Charges to Date 2018 2017 2018 2017 Charges (Credits) by Segment: Research $ 690 $ 517 $ 5,138 $ 677 $ 25,294 Publishing (392 ) 1,027 6,933 1,596 39,422 Solutions 1,277 1,095 3,447 1,619 5,998 Shared Services 633 6,479 11,013 11,153 93,761 Total $ 2,208 $ 9,118 $ 26,531 $ 15,045 $ 164,475 Charges (Credits) by Activity: Severance $ 1,781 $ 3,420 $ 25,047 $ 7,999 $ 112,637 Process Reengineering Consulting 427 10 1,948 16 20,762 Other Activities - 5,688 (464 ) 7,030 31,076 Total $ 2,208 $ 9,118 $ 26,531 $ 15,045 $ 164,475 Other Activities reflects leased facility consolidations, contract termination costs and the curtailment of certain defined benefit pension plans. The credits in Other Activities for the nine months ended January 31, 2018 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 nine months ended January 31, 2018: April 30, 2017 Charges Payments Foreign Translation & Reclassifications January 31, 2018 Severance $ 10,082 $ 25,047 $ (17,435 ) $ 732 $ 18,426 Process Reengineering Consulting - 1,948 (1,749 ) - 199 Other Activities 12,708 (464 ) (7,161 ) (1,876 ) 3,207 Total $ 22,790 $ 26,531 $ (26,345 ) $ (1,144 ) $ 21,832 The restructuring liability as of January 31, 2018 for accrued Severance costs is reflected in Accrued Employment Costs in the Condensed Consolidated Statements of Financial Position. The liability as of January 31, 2018, for Process Reengineering Consulting costs is reflected in Other Accrued Liabilities. As of January 31, 2018, approximately $1.0 million and $2.2 million of the Other Activities are reflected in Other Accrued Liabilities and Other Long-Term Liabilities, respectively.

Segment Information

Segment Information	9 Months Ended
	Jan. 31, 2018
Segment Information [Abstract]
Segment Information	8. Segment Information The Company reports its segment information in accordance with the provisions of FASB Accounting Standards Codification (“ASC”) Topic 280, “Segment Reporting,”. Segment information is as follows: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Revenue: Research $ 223,489 $ 205,769 $ 675,986 $ 618,987 Publishing 170,244 171,440 466,507 479,701 Solutions 61,942 59,247 176,357 167,641 Total Revenue $ 455,675 $ 436,456 $ 1,318,850 $ 1,266,329 Contribution to Profit: Research $ 59,299 $ 52,508 $ 191,923 $ 173,235 Publishing 48,472 38,807 95,957 94,639 Solutions 6,403 3,591 11,744 9,097 Total Contribution to Profit $ 114,174 $ 94,906 $ 299,624 $ 276,971 Corporate Expenses (46,743 ) (43,746 ) (134,922 ) (134,240 ) Operating Income $ 67,431 $ 51,160 $ 164,702 $ 142,731

Inventories

Inventories	9 Months Ended
	Jan. 31, 2018
Inventories [Abstract]
Inventories	9. Inventories Inventories were as follows: January 31, April 30, 2018 2017 Finished goods $ 35,822 $ 38,329 Work-in-process 3,292 7,078 Paper and other materials 626 650 $ 39,740 $ 46,057 Inventory value of estimated sales returns 7,217 4,727 LIFO reserve (3,157 ) (2,932 ) Total inventories $ 43,800 $ 47,852

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Jan. 31, 2018
Goodwill and Intangible Assets [Abstract]
Goodwill and Intangible Assets	10. Goodwill and Intangible Assets Goodwill The following table summarizes the activity in goodwill by segment as of January 31, 2018: April 30, 2017 Foreign Translation Adjustment January 31, 2018 Research $ 437,928 $ 31,751 $ 469,679 Publishing 283,192 14,543 297,735 Solutions 260,981 - 260,981 Total $ 982,101 $ 46,294 $ 1,028,395 We review goodwill for impairment on a reporting unit basis annually during the third quarter of each year, using a measurement date of January 31, and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. While we are permitted to conduct a qualitative assessment to determine whether it is necessary to perform a two-step quantitative goodwill impairment test, for our annual goodwill impairment test in the third quarter of 2018, 2017 and 2016, we performed a quantitative test for all of our reporting units. The goodwill impairment test involves a two-step process. In step one, we compare the fair value of each of our reporting units to its carrying value, including the goodwill allocated to the reporting unit. If the fair value of the reporting unit exceeds its carrying value, there is no indication of impairment and no further testing is required. If the fair value of the reporting unit is less than the carrying value, we must perform step two of the impairment test to measure the amount of impairment loss, if any. In step two, the reporting unit’s fair value is allocated to all of the assets and liabilities of the reporting unit, including any unrecognized intangible assets, in a hypothetical analysis that calculates the implied fair value of goodwill in the same manner as if the reporting unit was being acquired in a business combination. If the implied fair value of the reporting unit’s goodwill is less than the carrying value, the difference is recorded as an impairment loss. 2 018 Annual Impairment Test as of January 31, 2018 During the third quarter of 2018, we completed step one of our annual goodwill impairment test for our reporting units. We concluded that the fair values of these reporting units were above their carrying values and, therefore, there was no indication of impairment. We estimated the fair value of these reporting units using a weighting of fair values derived from an income and a market approach. Under the income approach, we determined the fair value of a reporting unit based on the present value of estimated future cash flows. Cash flow projections are based on management’s estimates of revenue growth rates and operating margins, taking into consideration industry and market conditions. The discount rate used is based on a weighted average cost of capital adjusted for the relevant risk associated with the characteristics of the business and the projected cash flows. The market approach estimates fair value based on market multiples of current and forward 12-month operating performance results, as applicable derived from comparable publicly traded companies with similar operating and investment characteristics as the reporting unit. The excess of estimated fair values over carrying value, including goodwill for each of our reporting units as of the 2018 annual impairment test were the following: % by Which Estimated Fair value Reporting Unit exceeds Carrying Value Research 504.9 % Publishing 151.3 % Solutions 34.0 % As noted above, the fair value determined under step one of the goodwill impairment test completed in the third quarter of 2018 exceeded the carrying value for each reporting unit. Therefore, there was no impairment of goodwill. However, if the fair value decreases in future periods, the Company may fail step one of the goodwill impairment test and be required to perform step two. In performing step two, the fair value would have to be allocated to all of the assets and liabilities of the reporting unit. Therefore, any potential goodwill impairment charge would be dependent upon the estimated fair value of the reporting unit at that time and the outcome of step two of the impairment test. The fair values of the assets and liabilities of the reporting unit, including the intangible assets could vary depending on various factors. The future occurrence of a potential indicator of impairment, such as a decrease in expected net earnings, adverse equity market conditions, a decline in current market multiples, a decline in our common stock price, a significant adverse change in legal factors or business climates, an adverse action or assessment by a regulator, unanticipated competition, strategic decisions made in response to economic or competitive conditions, or a more-likely-than-not expectation that a reporting unit or a significant portion of a reporting unit will be sold or disposed of, could require an interim assessment for some or all of the reporting units before the next required annual assessment. In the event of significant adverse changes of the nature described above, we might have to recognize a non-cash impairment of goodwill, which could have a material adverse effect on our consolidated financial condition. We also review our indefinite lived intangible assets for impairment annually, which consists of brands and trademarks and certain acquired publishing rights. During the third quarter of 2018, we completed our annual impairment test related to the indefinite lived intangible assets. We concluded that the fair values of these indefinite lived intangible assets were above their carrying values and, therefore, there was no indication of impairment. Change in Annual Impairment Assessment Date During the fourth quarter of 2018, the Company voluntarily changed its annual impairment assessment date from January 31 to February 1 for all of its reporting units and its indefinite lived intangible assets. This change is being made to improve alignment of impairment testing procedures with year-end financial reporting, the Company’s annual business planning and budgeting process and the multi-year strategic forecast, which begins in the fourth quarter of each year. As a result, the goodwill and indefinite lived intangible asset impairment testing will reflect the result of inputs from each of the businesses in the development of the budget and forecast process, including the impact of seasonality of the Company’s financial results. Accordingly, management considers this accounting change preferable. This change does not accelerate, delay, avoid, or cause an impairment charge, nor does this change result in adjustments to previously issued financial statements . In connection with the change in the date of the annual goodwill impairment test, the Company also completed step one of our goodwill impairment test as of February 1, 2018. We concluded that the fair values of the reporting units were above their carrying values and, therefore, there was no indication of impairment as of February 1, 2018. In addition, we also completed our annual impairment test related to the indefinite lived intangible assets as of February 1, 2018. We concluded that the fair values of the indefinite lived intangible assets were above their carrying values and, therefore, there was no indication of impairment as of February 1, 2018 . Intangible Assets Identifiable intangible assets consisted of the following: January 31, April 30, 2018 2017 Intangible assets with indefinite lives: Brands and trademarks $ 140,127 $ 135,061 Content and publishing rights 96,082 84,173 $ 236,209 $ 219,234 Net intangible assets with determinable lives: Content and publishing rights $ 449,358 $ 421,597 Customer relationships 165,572 169,116 Brands and trademarks 16,784 17,195 Covenants not to compete 708 957 $ 632,422 $ 608,865 Total $ 868,631 $ 828,099 In conjunction with a business review performed in the Publishing segment associated with the restructuring activities discussed above, in the first quarter of fiscal year 2018, the Company identified an indefinite lived brand with forecasted cash flows that did not support its carrying value. As a result, an impairment charge of $3.6 million was recorded in the first quarter of fiscal year 2018 to reduce the carrying value of the brand to its fair value of $1.2 million, which will now be amortized over an estimated useful life of 5 years. This impairment charge is included in Operating and Administrative Expenses in the Condensed Consolidated Statements of Income.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 31, 2018
Income Taxes [Abstract]
Income Taxes	11. Income Taxes The following table summarizes the effective tax rate for the three and nine months ended January 31, 2018 and 2017: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Effective Tax Rate as Reported (18.1 )% 3.2 % 4.0 % 49.5 % Estimated net impact in fiscal 2018 of non-recurring items from Tax Act 42.9 % - 17.4 % - Impact of unfavorable German court decision in fiscal 2017 - - - (35.8 )% Impact of reduction in U.K. statutory rate on deferred tax balances in fiscal 2017 - - - 4.4 % Effective Tax Rate excluding the impact of non-recurring items from the Tax Act in fiscal 2018 and the unfavorable German court decision and UK tax rate reduction in fiscal 2017 24.8 % 3.2 % 21.4 % 18.1 % On December 22, 2017, the U.S. government enacted the Tax Cuts and Jobs Act (the “Tax Act”). In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (“SAB 118”), which allows us to record provisional amounts related to the effect of the Tax Act during a measurement period not to extend beyond one year of the enactment date. Since the Tax Act was passed late in the fourth quarter of 2017, and ongoing guidance and accounting interpretation are expected over the next 12 months, we consider the accounting of the transition tax, deferred tax re-measurements and other items to be provisional due to the forthcoming guidance and our ongoing analysis of final data and tax positions. We expect to complete our analysis within the measurement period in accordance with SAB 118. The effective tax rates for the three and nine month periods were lower in fiscal 2018 than fiscal 2017 due to the estimated net tax benefit from non-recurring items in the Tax Act. As described in more detail below, estimated non-recurring items in the Tax Act reduced our income tax expense by $25 million ($0.43/share) or a reduction in our effective tax rate of 42.9 percentage points for the three months and 17.4 percentage points for the nine months ended January 31, 2018. Excluding the effect of those non-recurring items, the rate was 24.8% and 21.4% for the three month and nine month periods ended January 31, 2018, respectively. The rate excluding the benefit from the non-recurring items in the Tax Act was lower than the U.S. statutory rate for the year ended April 30, 2018 primarily due to lower foreign rates applicable to non-U.S. earnings. The nine month period also benefitted from the lower federal statutory blended tax rate of 30.4% in the Tax Act retroactive to the beginning of the fiscal year. The effective tax rate for the three and nine months ended January 31, 2017 was 3.2% and 49.5%, respectively. The rate for the nine months ended January 31, 2017 was increased by an unfavorable German court decision in September 2016 and decreased by a non-cash deferred tax benefit related to a decrease in the U.K. statutory tax rate from 18% to 17% beginning on April 1, 2020. Excluding the impact of the unfavorable German court decision and the benefit from a future U.K. statutory tax rate reduction, the rate for the nine month period was 18.1%. The rates for the three month and nine month periods excluding the German court decision and U.K. tax rate change were lower than the U.S. statutory rate of 35% primarily due to lower foreign tax rates applicable to non-U.S. earnings. The rates were also lower than the U.S. statutory rate as well as the fiscal 2018 rates excluding the effects of the non-recurring benefits from the Tax Act, due to non-recurring foreign tax benefits in the three month period ended January 31, 2018. The Tax Act On December 22, 2017, the U.S. government enacted comprehensive tax legislation. The Tax Act significantly revises the future ongoing U.S. corporate income tax system by, among other changes, lowering the U.S. federal corporate income tax rate to 21% with a potentially lower rate for certain foreign derived income, accelerating deductions for certain business assets, changing the U.S. system from a worldwide tax system to a modified territorial tax system, requiring companies to pay a one-time transition tax on unrepatriated post-1986 cumulative non-U.S. earnings of foreign subsidiaries (“E&P”), eliminating certain deductions such as the domestic production deduction, establishing limitations on the deductibility of certain expenses including interest and executive compensation, and creating new taxes on certain foreign earnings. The key impacts for the period were the re-measurement of U.S. deferred tax balances to the new U.S. corporate tax rate and the accrual for the one-time transition tax liability. While we have not yet completed our assessment of the effects of the Tax Act, we are able to determine reasonable estimates for the impacts of these key items and reported provisional amounts for these items. In accordance with SAB 118, we are providing additional disclosures related to these provisional amounts. Deferred tax balances – We remeasured our U.S. deferred tax assets and liabilities based on the federal rate at which they are expected to reverse in the future, generally 21% for reversals anticipated to occur after April 30, 2018. We are still analyzing certain aspects of the Tax Act and refining our calculations, including our estimates of expected reversals, which could affect the measurement of these balances and give rise to new deferred tax amounts. The provisional amount recorded related to the re-measurement of our net deferred tax liability was a benefit of $40 million. Foreign tax effects – In connection with the transition from a global to a modified territorial tax system, the Tax Act establishes a mandatory deemed repatriation tax. The tax is computed using our post-1986 E&P that was previously deferred from U.S. income taxes. The tax is based on the amount of foreign earnings held in cash equivalents and certain net assets, which are taxed at 15.5%, and those held in other assets, which are taxed at 8%. We recorded a provisional amount of $14.5 million. This resulted in a corresponding decrease in deferred tax assets due to the utilization of foreign tax credit carryforwards. The determination of the transition tax requires further guidance as to its applicability to non-calendar year end taxpayers and analysis regarding the amount and composition of our historical foreign earnings. In addition, we accrued a $0.5 million provisional state tax liability, pending further guidance and legislative action from various states regarding conformity with the Tax Act. The Tax Act reduces the Federal statutory tax rate from 35% to 21% effective January 1, 2018. As a result, our U.S. federal statutory tax rate for our fiscal year ended April 30, 2018 is a blended rate of 30.4%. The reduced rate did not have a significant impact on our effective tax rate for the three month or nine month periods ended January 31, 2018. We have not determined a reasonable estimate of the tax liability, if any, under the Tax Act for our remaining outside basis difference or evaluated how the Tax Act will affect our existing accounting position to indefinitely reinvest unremitted earnings. We will continue to evaluate our position for this matter as we finalize our Tax Act calculations. The Tax Act creates new taxes, effective for us on May 1, 2018, including a provision designed to tax global low taxed income (“GILTI”) and a provision establishing new minimum taxes, such as the base erosion anti-abuse tax (“BEAT”). We continue to evaluate the Tax Act, but due to the complexity and incomplete guidance of various provisions, we have not completed our accounting for the income tax effects of certain elements of the Tax Act, including the new GILTI and BEAT taxes. We have not yet determined whether such taxes should be recorded as a current-period expense when incurred or factored into the measurement of our deferred taxes. As a result, we have not included an estimate of any tax expense or benefit related to these items for the periods ended January 31, 2018.

Retirement Plans

Retirement Plans	9 Months Ended
	Jan. 31, 2018
Retirement Plans [Abstract]
Retirement Plans	12. Retirement Plans The components of net pension (income) expense for the Company’s global defined benefit plans were as follows: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Service cost $ 243 $ 241 $ 715 $ 744 Interest cost 6,407 6,565 19,005 20,269 Expected return on plan assets (9,924 ) (8,588 ) (29,363 ) (26,619 ) Net amortization of prior service cost (24 ) (26 ) (72 ) (75 ) Recognized net actuarial loss 1,536 1,268 4,550 3,900 Pension plan actuarial loss - - 21 8,842 Net pension (income) expense $ (1,762 ) $ (540 ) $ (5,144 ) $ 7,061 Employer defined benefit pension plan contributions were $2.8 million and $3.2 million for the three months ended January 31, 2018 and 2017, respectively, and $8.4 million and $13.8 million for the nine months ended January 31, 2018 and 2017, respectively. Contributions for employer defined contribution plans were approximately $3.4 million and $3.1 million for the three months ended January 31, 2018 and 2017, respectively, and $11.3 million and $11.6 million for the nine months ended January 31, 2018 and 2017, respectively.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	9 Months Ended
	Jan. 31, 2018
Derivative Instruments and Hedging Activities [Abstract]
Derivative Instruments and Hedging 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 on our Condensed Consolidated Balance Sheets. 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 $428.2 million of variable rate loans outstanding at January 31, 2018, which approximated fair value. The Company had $865.7 million of variable rate loans outstanding at January 31, 2017, which approximated fair value. As of January 31, 2018 and 2017 the interest rate swap agreements maintained by the Company were designated as cash flow hedges as defined under 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. 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 pays a fixed rate of 0.92% and receives a variable rate of interest based on one-month LIBOR from the counterparty which is reset every month for a three-year period ending May 15, 2019. As of January 31, 2018 and January 31, 2017, the notional amount of the interest rate swap was $350 million. 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 January 31, 2018 and April 31, 2017 was a deferred gain of $5.1 million and $3.9 million, respectively. Based on the maturity dates of the contracts, the entire deferred gains as of January 31, 2018 and April 30, 2017 were recorded within Other Long-Term Assets. The pre-tax gains that were reclassified from Accumulated Other Comprehensive Loss into Interest Expense for the three months and nine months ended January 31, 2018 were $0.4 million and $0.8 million, respectively. The pre-tax losses that were reclassified from Accumulated Other Comprehensive Loss into Interest Expense for the fiscal year ended April 30, 2017 were $1.1 million. 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 (Losses) Gains 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 (Losses) Gains. As of January 31, 2018 and April 30, 2017, the Company did not maintain any open forward exchange contracts. As of January 31, 2017, the fair value of the open forward exchange contracts was a gain of approximately $54.5 million and recorded within Prepaid and Other Current Assets in the Condensed Consolidated Statement of Financial Position. The fair value was measured on a recurring basis using Level 2 inputs. For the three and nine months ended January 31, 2017, the loss recognized on the forward contracts were $11.5 million and $53.2 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Jan. 31, 2018
Commitments and Contingencies [Abstract]
Commitments and Contingencies	14. Commitments and Contingencies The Company is involved in routine litigation in the ordinary course of its business. A provision for litigation is accrued when information available to the Company indicates that it is probable a liability has been incurred and the amount of loss can be reasonably estimated. Significant judgment may be required to determine both the probability and estimates of loss. When the amount of the loss can only be estimated within a range, the most likely outcome within that range is accrued. If no amount within the range is a better estimate than any other amount, the minimum amount within the range is accrued. When uncertainties exist related to the probable outcome of litigation and/or the amount or range of loss, the Company does not record a liability, but discloses facts related to the nature of the contingency and possible losses if management considers the information to be material. Reserves for legal defense costs are recognized when incurred. The accruals for loss contingencies and legal costs are reviewed regularly and may be adjusted to reflect updated information on the status of litigation and advice of legal counsel. In the opinion of management, the ultimate resolution of all pending litigation as of January 31, 2018 will not have a material effect upon the Condensed Consolidated Financial Condition or Results of Operations of the Company. Over the past few years, the Company has from time to time faced claims from photographers or agencies that the Company has used photographs without licenses or beyond licensed permissions. The Company has insurance coverage for a significant portion of such claims. The Company does not believe that its exposure to such claims either individually or in the aggregate is material.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Jan. 31, 2018
Basis of Presentation [Abstract]
Basis of Presentation	Throughout this report, when we refer to “Wiley,” the “Company,” “we,” “our,” or “us,” we are referring to John Wiley & Sons, Inc. and all of our subsidiaries, except where the context indicates otherwise. Our unaudited Condensed Consolidated Financial Statements include all of the accounts of the Company and our subsidiaries. We have eliminated all significant intercompany transactions and balances in consolidation. 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 Condensed Consolidated Financial Condition, Results of Operations, Comprehensive Income 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. All amounts are in thousands, except per share amounts, and approximate due to rounding. 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, 2017 as filed with the U.S. Securities and Exchange Commission (“SEC”) on June 29, 2017 (“2017 Form 10-K”). Our Condensed Consolidated Financial Statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by Generally Accepted Accounting Principles in the United States of America (“U.S. GAAP”) have been condensed or omitted. The preparation of the Company’s Condensed Consolidated Financial Statements in conformity with U.S. GAAP 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 condensed consolidated 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.

Recent Accounting Standards (Po

Recent Accounting Standards (Policies)	9 Months Ended
	Jan. 31, 2018
Recent Accounting Standards [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Effective April 30, 2017, the Company adopted Accounting Standard Update (“ASU”) 2015-17 “Income Taxes (Topic 740): Balance Sheet Classification of Deferred Taxes.” ASU 2015-17 requires that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The Company elected to adopt this standard prospectively and thus prior period balances were not adjusted. As of April 30, 2017, there were $0.8 million of current deferred tax assets reported within Prepaid and Other Current Assets in the Condensed Consolidated Statements of Financial Position. In March 2016, the Financial Accounting Standards Board (“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 U.S. GAAP). The Company adopted ASU 2016-09 on a prospective basis on May 1, 2017. As a result of the adoption: · Excess income tax benefits and deficiencies from stock-based compensation are now recognized as a discrete item within the Provision for Income Taxes in the Condensed Consolidated Statements of Income, rather than Additional Paid-In-Capital in the Condensed Consolidated Statements of Financial Position, and amounted to $0.6 million for the nine months ended January 31, 2018. · Excess income tax benefits and deficiencies are no longer considered when applying the treasury stock method for computing diluted shares outstanding, which resulted in an increase in diluted shares outstanding of less than 0.1 million. · Excess income tax benefits and deficiencies are now classified as an Operating Activity in the Condensed Consolidated Statements of Cash Flows. There were no excess tax benefits recorded in operating activities for the nine months ended January 31, 2018, while $0.2 million were recorded in Financing Activities for the nine months ended January 31, 2017. · The Company has elected to continue estimating expected forfeitures in determining stock compensation expense each period.
Recently Issued Accounting Standards	Recently Issued Accounting Standards In February 2018, the FASB issued ASU 2018-02 “Income Statement – Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income”, which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The standard is effective for the Company on May 1, 2019 and interim periods within that fiscal year, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In August 2017, the FASB issued ASU 2017-12 “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities”, to simplify and improve the application and financial reporting of hedge accounting. The guidance eases the requirements for measuring and reporting hedge ineffectiveness, and clarifies that changes in the fair value of hedging instruments for cash flow, net investment, and fair value hedges should be reflected in the same income statement line item as the earnings effect of the hedged item. The guidance also permits entities to designate specific components in cash flow and interest rate hedges as the hedged risk, instead of using total cash flows. The standard is effective for the Company on May 1, 2019, with early adoption permitted. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In May 2017, the FASB issued ASU 2017-09 “Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting”, which clarifies when changes to the terms or conditions of a share-based payment award require an entity to apply modification accounting. Under the new guidance, modification accounting is only required if the fair value, vesting conditions or classification (equity or liability) of the new award are different from the original award immediately before the original award is modified. The standard is effective for the Company on May 1, 2018, with early adoption permitted. The new guidance must be applied prospectively to awards modified on or after the adoption date. The future impact of ASU 2017-09 will be dependent on the nature of future stock award modifications. In March 2017, the FASB issued ASU 2017-07 “Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost.” The guidance requires that the service cost component of net pension and postretirement benefit costs be reported in the same line item as other compensation costs arising from services rendered by the pertinent employees during the period, while the other components of net benefit costs must be reported separately from the service cost component and below operating income. The guidance also allows only the service cost component to be eligible for capitalization when applicable. The standard is effective for the Company on May 1, 2018, with early adoption permitted. The new guidance must be applied retrospectively for the presentation of net benefit costs in the income statement and prospectively for the capitalization of the service cost component of net benefit costs. Although the Company does not expect the standard to have an impact on its consolidated net income, the Company’s net pension and postretirement costs for the three and nine months ended January 31, 2018 include approximately $2.1 million and $5.9 million of net benefits that will be reclassified from operating income to a line item below operating income upon adoption. The Company’s net pension and retirement costs for three and nine months ended January 31, 2017 include $0.8 million and $2.5 million of net benefits that will be reclassified from operating income to a line item below operating income upon adoption. In January 2017, the FASB issued ASU 2017-04 “Intangibles – Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment”, which simplifies the measurement of a potential goodwill impairment charge by eliminating the requirement to calculate an implied fair value of the goodwill based on the fair value of a reporting unit’s other assets and liabilities. The new guidance eliminates the implied fair value method and instead measures a potential impairment charge based on the excess of a reporting unit’s carrying value compared to its fair value. The impairment charge cannot exceed the total amount of goodwill allocated to that reporting unit. The standard is effective for the Company on May 1, 2020, with early adoption permitted. Based on the Company’s most recent annual goodwill impairment test completed in fiscal year 2018, the Company expects no initial impact on adoption. In January 2017, the FASB issued ASU 2017-01 “Business Combinations (Topic 805): Clarifying the Definition of a Business”, which clarifies the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or business. The standard is effective for the Company on May 1, 2018, with early adoption permitted. The future impact of ASU 2017-01 will be dependent upon the nature of future acquisitions or dispositions made by the Company. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”). ASU 2016-18 requires that entities include restricted cash and restricted cash equivalents with cash and cash equivalents in the beginning-of-period and end-of-period total amounts shown on the Statement of Cash Flows. The standard is effective for the Company on May 1, 2018, including interim reporting periods within those fiscal years. Early adoption, including adoption in interim periods, is permitted for all entities. Retrospective transition method is to be applied to each period presented. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In October 2016, the 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 U.S. 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 Standard 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 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 June 2016, the FASB issued ASU 2016-13, “Financial Instruments — Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments”. ASU 2016-13 requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13 is effective for the Company on May 1, 2020, including interim periods within those fiscal periods, 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 January 2016, the FASB issued ASU 2016-01, “Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities”. ASU 2016-01 requires equity investments except those under the equity method of accounting to be measured at fair value with the changes in fair value recognized in net income. The amendment simplifies the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment to identify impairment. In addition, it also requires enhanced disclosures about investments. The amendments in ASU 2016-01 are effective for the Company on May 1, 2018, including interim periods within those fiscal years. Early application for certain provisions is allowed but early adoption of the amendments is not permitted. An entity should apply the amendments by means of a cumulative-effect adjustment to the balance sheet as of the beginning of the fiscal year of adoption. The Company is currently assessing the impact the new guidance will have on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 "Revenue from Contracts with Customers" (Topic 606) ("ASU 2014-09") which will supersede most existing revenue recognition guidance. The standard is effective for the Company on May 1, 2018. The standard allows for either "full retrospective" adoption, meaning the standard is applied to all periods presented, or "modified retrospective" 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"), ASU 2016-12, "Revenue from Contracts with Customers (Topic 606) – Narrow Scope Improvements and Practical Expedients" ("ASU 2016-12"), and ASU 2016-20, "Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers" ("ASU 2016-20"), which provide clarification and additional guidance related to ASU 2014-09. The Company must adopt ASU 2016-08, ASU 2016-10, ASU 2016-12, and ASU 2016-20 with ASU 2014-09. The Company is utilizing a comprehensive approach to assess the impact of the standard on its contract portfolio by reviewing its current accounting policies and practices to identify potential differences that would result from applying the new standard to its revenue contracts. While this evaluation is ongoing, we currently do not anticipate the impact of the implementation of this standard to be material to our consolidated financial position or results of operations. We currently expect the most significant accounting changes will relate to the following: · Perpetual access licenses – Currently, we recognize revenue for perpetual licenses granted in connection with other deliverables over the life of the associated subscription for future content. Under the new standard it will require us to recognize the revenue allocated to the perpetual access at a point in time, which is at the time when access is granted. · Customers’ Unexercised Rights – Currently, we recognize revenue at the end of a pre-determined period for situations where we have received a nonrefundable payment for a customer to receive a good or service and the customer has not exercised such right, referred to as breakage revenue. Under ASU 2014-09, we will now recognize such breakage amounts as revenue in proportion to the pattern of rights exercised by the customer. We have elected to apply the modified retrospective approach to adopting the new revenue standards where we recognize the cumulative effect of initially applying the new revenue standard as an adjustment to the opening balance of retained earnings based on contracts open at the date of adoption. The Company is also in the process of reviewing its current systems, internal controls and processes, and evaluating and making any necessary changes to support the implementation of the new revenue standard.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Jan. 31, 2018
Stock-Based Compensation [Abstract]
Schedule of Restricted Stock Data for Awards Granted	The following table summarizes restricted stock awards granted by the Company: Nine Months Ended January 31, 2018 2017 Restricted Stock: Awards granted 528 509 Weighted average fair value of grant $ 53.27 $ 50.56

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Jan. 31, 2018
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 nine months ended January 31, 2018 and 2017 were as follows: Foreign Currency Translation Unamortized Retirement Costs Interest Rate Swaps Total Balance at October 31, 2017 $ (286,171 ) $ (193,028 ) $ 2,473 $ (476,726 ) Other comprehensive income (loss) before reclassifications 51,401 (9,686 ) 509 42,224 Amounts reclassified from accumulated other comprehensive loss - 1,099 225 1,324 Total other comprehensive income (loss) 51,401 (8,587 ) 734 43,548 Balance at January 31, 2018 $ (234,770 ) $ (201,615 ) $ 3,207 $ (433,178 ) Balance at April 30, 2017 $ (319,212 ) $ (190,502 ) $ 2,427 $ (507,287 ) Other comprehensive income (loss) before reclassifications 84,442 (14,376 ) 315 70,381 Amounts reclassified from accumulated other comprehensive loss - 3,263 465 3,728 Total other comprehensive income (loss) 84,442 (11,113 ) 780 74,109 Balance at January 31, 2018 $ (234,770 ) $ (201,615 ) $ 3,207 $ (433,178 ) Foreign Currency Translation Unamortized Retirement Costs Interest Rate Swaps Total Balance at October 31, 2016 $ (338,384 ) $ (148,250 ) $ (15 ) $ (486,649 ) Other comprehensive income (loss) before reclassifications 7,783 (2,603 ) 2,284 7,464 Amounts reclassified from accumulated other comprehensive loss - 838 (70 ) 768 Total other comprehensive income (loss) 7,783 (1,765 ) 2,214 8,232 Balance at January 31, 2017 $ (330,601 ) $ (150,015 ) $ 2,199 $ (478,417 ) Balance at April 30, 2016 $ (267,920 ) $ (179,405 ) $ (361 ) $ (447,686 ) Other comprehensive (loss) income before reclassifications (62,681 ) 22,891 2,381 (37,409 ) Amounts reclassified from accumulated other comprehensive loss - 6,499 179 6,678 Total other comprehensive (loss) income (62,681 ) 29,390 2,560 (30,731 ) Balance at January 31, 2017 $ (330,601 ) $ (150,015 ) $ 2,199 $ (478,417 )

Reconciliation of Weighted Av26

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases (Tables)	9 Months Ended
	Jan. 31, 2018
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: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Weighted average shares outstanding 57,170 57,434 57,123 57,624 Less: Unvested restricted shares (135 ) (210 ) (144 ) (219 ) Shares used for basic earnings per share 57,035 57,224 56,979 57,405 Dilutive effect of stock options and other stock awards 836 788 757 776 Shares used for diluted earnings per share 57,871 58,012 57,736 58,181

Restructuring Charges (Tables)

Restructuring Charges (Tables)	9 Months Ended
	Jan. 31, 2018
Restructuring Charges [Abstract]
Pre-tax Restructuring Charges (Credits)	The following tables summarize the pre-tax restructuring charges (credits) related to this program: Three Months Ended January 31, Nine Months Ended January 31, Cumulative Program Charges to Date 2018 2017 2018 2017 Charges (Credits) by Segment: Research $ 690 $ 517 $ 5,138 $ 677 $ 25,294 Publishing (392 ) 1,027 6,933 1,596 39,422 Solutions 1,277 1,095 3,447 1,619 5,998 Shared Services 633 6,479 11,013 11,153 93,761 Total $ 2,208 $ 9,118 $ 26,531 $ 15,045 $ 164,475 Charges (Credits) by Activity: Severance $ 1,781 $ 3,420 $ 25,047 $ 7,999 $ 112,637 Process Reengineering Consulting 427 10 1,948 16 20,762 Other Activities - 5,688 (464 ) 7,030 31,076 Total $ 2,208 $ 9,118 $ 26,531 $ 15,045 $ 164,475
Activity for Restructuring and Reinvestment Program Liability	The following table summarizes the activity for the Restructuring and Reinvestment Program liability for the nine months ended January 31, 2018: April 30, 2017 Charges Payments Foreign Translation & Reclassifications January 31, 2018 Severance $ 10,082 $ 25,047 $ (17,435 ) $ 732 $ 18,426 Process Reengineering Consulting - 1,948 (1,749 ) - 199 Other Activities 12,708 (464 ) (7,161 ) (1,876 ) 3,207 Total $ 22,790 $ 26,531 $ (26,345 ) $ (1,144 ) $ 21,832

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jan. 31, 2018
Segment Information [Abstract]
Segment Information	Segment information is as follows: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Revenue: Research $ 223,489 $ 205,769 $ 675,986 $ 618,987 Publishing 170,244 171,440 466,507 479,701 Solutions 61,942 59,247 176,357 167,641 Total Revenue $ 455,675 $ 436,456 $ 1,318,850 $ 1,266,329 Contribution to Profit: Research $ 59,299 $ 52,508 $ 191,923 $ 173,235 Publishing 48,472 38,807 95,957 94,639 Solutions 6,403 3,591 11,744 9,097 Total Contribution to Profit $ 114,174 $ 94,906 $ 299,624 $ 276,971 Corporate Expenses (46,743 ) (43,746 ) (134,922 ) (134,240 ) Operating Income $ 67,431 $ 51,160 $ 164,702 $ 142,731

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Jan. 31, 2018
Inventories [Abstract]
Schedule of Inventories	Inventories were as follows: January 31, April 30, 2018 2017 Finished goods $ 35,822 $ 38,329 Work-in-process 3,292 7,078 Paper and other materials 626 650 $ 39,740 $ 46,057 Inventory value of estimated sales returns 7,217 4,727 LIFO reserve (3,157 ) (2,932 ) Total inventories $ 43,800 $ 47,852

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Jan. 31, 2018
Goodwill and Intangible Assets [Abstract]
Activity in Goodwill by Segment	The following table summarizes the activity in goodwill by segment as of January 31, 2018: April 30, 2017 Foreign Translation Adjustment January 31, 2018 Research $ 437,928 $ 31,751 $ 469,679 Publishing 283,192 14,543 297,735 Solutions 260,981 - 260,981 Total $ 982,101 $ 46,294 $ 1,028,395
Excess of Estimated Fair Value over Carrying Value of Reporting Units	The excess of estimated fair values over carrying value, including goodwill for each of our reporting units as of the 2018 annual impairment test were the following: % by Which Estimated Fair value Reporting Unit exceeds Carrying Value Research 504.9 % Publishing 151.3 % Solutions 34.0 %
Schedule of Intangible Assets	Identifiable intangible assets consisted of the following: January 31, April 30, 2018 2017 Intangible assets with indefinite lives: Brands and trademarks $ 140,127 $ 135,061 Content and publishing rights 96,082 84,173 $ 236,209 $ 219,234 Net intangible assets with determinable lives: Content and publishing rights $ 449,358 $ 421,597 Customer relationships 165,572 169,116 Brands and trademarks 16,784 17,195 Covenants not to compete 708 957 $ 632,422 $ 608,865 Total $ 868,631 $ 828,099

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jan. 31, 2018
Income Taxes [Abstract]
Summary of Effective Income Tax Rate	The following table summarizes the effective tax rate for the three and nine months ended January 31, 2018 and 2017: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Effective Tax Rate as Reported (18.1 )% 3.2 % 4.0 % 49.5 % Estimated net impact in fiscal 2018 of non-recurring items from Tax Act 42.9 % - 17.4 % - Impact of unfavorable German court decision in fiscal 2017 - - - (35.8 )% Impact of reduction in U.K. statutory rate on deferred tax balances in fiscal 2017 - - - 4.4 % Effective Tax Rate excluding the impact of non-recurring items from the Tax Act in fiscal 2018 and the unfavorable German court decision and UK tax rate reduction in fiscal 2017 24.8 % 3.2 % 21.4 % 18.1 %

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Jan. 31, 2018
Retirement Plans [Abstract]
Components of Net Periodic Pension (Income) Expense for Defined Benefit Plans	The components of net pension (income) expense for the Company’s global defined benefit plans were as follows: Three Months Ended January 31, Nine Months Ended January 31, 2018 2017 2018 2017 Service cost $ 243 $ 241 $ 715 $ 744 Interest cost 6,407 6,565 19,005 20,269 Expected return on plan assets (9,924 ) (8,588 ) (29,363 ) (26,619 ) Net amortization of prior service cost (24 ) (26 ) (72 ) (75 ) Recognized net actuarial loss 1,536 1,268 4,550 3,900 Pension plan actuarial loss - - 21 8,842 Net pension (income) expense $ (1,762 ) $ (540 ) $ (5,144 ) $ 7,061

Recent Accounting Standards (De

Recent Accounting Standards (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Apr. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in diluted shares outstanding (in shares)	836	788	757	776
Excess tax benefits recorded in operating activities			$ 0	$ (227)
Excess tax benefits recorded in financing activities			0	227
Accounting Standards Update 2015-17 [Member] | Prepaid and Other Current Assets [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets, current					$ 800
Accounting Standards Update 2016-09 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Excess income tax benefits from stock-based compensation			600
Excess tax benefits recorded in operating activities			$ 0
Excess tax benefits recorded in financing activities				200
Accounting Standards Update 2016-09 [Member] | Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in diluted shares outstanding (in shares)			100
Accounting Standards Update 2017-07 Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net benefit costs expected to be reclassified from operating income to a line item below operating income	$ 2,100	$ 800	$ 5,900	$ 2,500

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation (benefit) expense	$ 4	$ 5.3	$ 6.5	$ 10.2
Restricted Stock [Member]
Restricted stock data for awards granted by the Company [Abstract]
Awards granted (in shares)			528	509
Weighted average fair value of grant (in dollars per share)	$ 53.27	$ 50.56	$ 53.27	$ 50.56
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-Based Compensation, Presi

Stock-Based Compensation, President and CEO New Hire Equity Awards (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Jan. 31, 2018USD ($)Installment$ / sharesshares
ELTIP [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Targeted long-term incentive as percentage of base salary	300.00%
Targeted long-term incentive value | $	$ 2.7
ELTIP [Member] | Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of targeted long-term incentive value	60.00%
Grant date fair value (in dollars per share) | $ / shares	$ 59.15
Awards granted (in shares) | shares	30,916
ELTIP [Member] | Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of targeted long-term incentive value	40.00%
Grant date fair value (in dollars per share) | $ / shares	$ 59.15
Awards granted (in shares) | shares	20,611
ELTIP [Member] | Restricted Share Units [Member] | Vesting on April 30, 2018 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting percentage	25.00%
ELTIP [Member] | Restricted Share Units [Member] | Vesting on April 30, 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting percentage	25.00%
ELTIP [Member] | Restricted Share Units [Member] | Vesting on April 30, 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting percentage	25.00%
ELTIP [Member] | Restricted Share Units [Member] | Vesting on April 30, 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting percentage	25.00%
Sign-On Grant [Member] | Restricted Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant date fair value (in dollars per share) | $ / shares	$ 59.15
Awards granted (in shares) | shares	67,625
Grant value | $	$ 4
Number of equal installments | Installment	2

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance			$ 1,003,137
Other comprehensive income (loss) before reclassifications	$ 42,224	$ 7,464	70,381	$ (37,409)
Amounts reclassified from accumulated other comprehensive loss	1,324	768	3,728	6,678
Total Other Comprehensive Income (Loss)	43,548	8,232	74,109	(30,731)
Balance	1,168,326		1,168,326
Accumulated Other Comprehensive Loss [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(476,726)	(486,649)	(507,287)	(447,686)
Balance	(433,178)	(478,417)	(433,178)	(478,417)
Foreign Currency Translation [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(286,171)	(338,384)	(319,212)	(267,920)
Other comprehensive income (loss) before reclassifications	51,401	7,783	84,442	(62,681)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total Other Comprehensive Income (Loss)	51,401	7,783	84,442	(62,681)
Balance	(234,770)	(330,601)	(234,770)	(330,601)
Unamortized Retirement Costs [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	(193,028)	(148,250)	(190,502)	(179,405)
Other comprehensive income (loss) before reclassifications	(9,686)	(2,603)	(14,376)	22,891
Amounts reclassified from accumulated other comprehensive loss	1,099	838	3,263	6,499
Total Other Comprehensive Income (Loss)	(8,587)	(1,765)	(11,113)	29,390
Balance	(201,615)	(150,015)	(201,615)	(150,015)
Interest Rate Swaps [Member]
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance	2,473	(15)	2,427	(361)
Other comprehensive income (loss) before reclassifications	509	2,284	315	2,381
Amounts reclassified from accumulated other comprehensive loss	225	(70)	465	179
Total Other Comprehensive Income (Loss)	734	2,214	780	2,560
Balance	$ 3,207	$ 2,199	$ 3,207	$ 2,199

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Loss, Reclassification out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Operating and administrative expenses	$ 248,746	$ 247,278	$ 731,872	$ 729,775
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	$ 1,500	$ 1,200	$ 4,400	$ 9,900

Reconciliation of Weighted Av38

Reconciliation of Weighted Average Shares Outstanding and Share Repurchases (Details) - $ / shares	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Reconciliation of Weighted Average Shares Outstanding and Share Repurchases [Abstract]
Weighted average shares outstanding (in shares)	57,170,000	57,434,000	57,123,000	57,624,000
Less: Unvested restricted shares (in shares)	(135,000)	(210,000)	(144,000)	(219,000)
Shares used for basic earnings per share (in shares)	57,035,000	57,224,000	56,979,000	57,405,000
Dilutive effect of stock options and other stock awards (in shares)	836,000	788,000	757,000	776,000
Shares used for diluted earnings per share (in shares)	57,871,000	58,012,000	57,736,000	58,181,000
Shares repurchased (in shares)	0	300,000	600,000	700,000
Average purchase price (in dollars per share)		$ 55.14	$ 53.12	$ 52.74
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	100,000
Restricted Stock [Member] | Maximum [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from diluted EPS calculation (in shares)			100,000	100,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive shares excluded from diluted EPS calculation (in shares)	0	300,000
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)			300,000	300,000

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Business Acquisition [Line Items]
Cash paid for acquisition, net of cash acquired				$ 25,227	$ 152,110
Revenue		$ 455,675	$ 436,456	1,318,850	1,266,329
Operating income (loss)		67,431	51,160	164,702	142,731
Atypon Systems Inc [Member]
Business Acquisition [Line Items]
Cash paid for acquisition, net of cash acquired	$ 121,000
Revenue		8,300	8,000	24,600	10,400
Operating income (loss)		$ (800)	$ (1,500)	$ (1,800)	$ (2,000)

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		69 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	$ 2,208	$ 9,118	$ 26,531	$ 15,045
Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	2,208	9,118	26,531	15,045	$ 164,475
Restructuring and Reinvestment Program [Member] | Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	1,781	3,420	25,047	7,999	112,637
Restructuring and Reinvestment Program [Member] | Process Reengineering Consulting [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	427	10	1,948	16	20,762
Restructuring and Reinvestment Program [Member] | Other Activities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	0	5,688	(464)	7,030	31,076
Research [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	690	517	5,138	677	25,294
Publishing [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	(392)	1,027	6,933	1,596	39,422
Solutions [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	1,277	1,095	3,447	1,619	5,998
Shared Services [Member] | Restructuring and Reinvestment Program [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges (credits)	$ 633	$ 6,479	$ 11,013	$ 11,153	$ 93,761

Restructuring Charges, Activity

Restructuring Charges, Activity for Restructuring and Reinvestment Program Liability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		69 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring charges	$ 2,208	$ 9,118	$ 26,531	$ 15,045
Payments			(26,345)	(15,740)
Restructuring and Reinvestment Program [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			22,790
Restructuring charges	2,208	9,118	26,531	15,045	$ 164,475
Payments			(26,345)
Foreign translation & reclassifications			(1,144)
Restructuring liability, end of period	21,832		21,832		21,832
Restructuring and Reinvestment Program [Member] | Severance [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			10,082
Restructuring charges	1,781	3,420	25,047	7,999	112,637
Payments			(17,435)
Foreign translation & reclassifications			732
Restructuring liability, end of period	18,426		18,426		18,426
Restructuring and Reinvestment Program [Member] | Process Reengineering Consulting [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			0
Restructuring charges	427	10	1,948	16	20,762
Payments			(1,749)
Foreign translation & reclassifications			0
Restructuring liability, end of period	199		199		199
Restructuring and Reinvestment Program [Member] | Other Activities [Member]
Activity for Restructuring and Reinvestment Program liability [Roll Forward]
Restructuring liability, beginning of period			12,708
Restructuring charges	0	$ 5,688	(464)	$ 7,030	31,076
Payments			(7,161)
Foreign translation & reclassifications			(1,876)
Restructuring liability, end of period	3,207		3,207		3,207
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	1,000		1,000		1,000
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	$ 2,200		$ 2,200		$ 2,200

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Segment Reporting Information [Line Items]
Revenue	$ 455,675	$ 436,456	$ 1,318,850	$ 1,266,329
Contribution to profit (loss)	114,174	94,906	299,624	276,971
Operating and administrative expenses	(248,746)	(247,278)	(731,872)	(729,775)
Operating income	67,431	51,160	164,702	142,731
Operating Segments [Member] | Research [Member]
Segment Reporting Information [Line Items]
Revenue	223,489	205,769	675,986	618,987
Contribution to profit (loss)	59,299	52,508	191,923	173,235
Operating Segments [Member] | Publishing [Member]
Segment Reporting Information [Line Items]
Revenue	170,244	171,440	466,507	479,701
Contribution to profit (loss)	48,472	38,807	95,957	94,639
Operating Segments [Member] | Solutions [Member]
Segment Reporting Information [Line Items]
Revenue	61,942	59,247	176,357	167,641
Contribution to profit (loss)	6,403	3,591	11,744	9,097
Corporate [Member]
Segment Reporting Information [Line Items]
Operating and administrative expenses	$ (46,743)	$ (43,746)	$ (134,922)	$ (134,240)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jan. 31, 2018	Apr. 30, 2017
Inventories [Abstract]
Finished goods	$ 35,822	$ 38,329
Work-in-process	3,292	7,078
Paper and other materials	626	650
Gross inventory	39,740	46,057
Inventory value of estimated sales returns	7,217	4,727
LIFO reserve	(3,157)	(2,932)
Total inventories	$ 43,800	$ 47,852

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Goodwill (Details) $ in Thousands	9 Months Ended
	Jan. 31, 2018USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 982,101
Foreign translation adjustment	46,294
Ending balance	1,028,395
Research [Member]
Goodwill [Roll Forward]
Beginning balance	437,928
Foreign translation adjustment	31,751
Ending balance	$ 469,679
% by which estimated fair value exceeds carrying value	504.90%
Publishing [Member]
Goodwill [Roll Forward]
Beginning balance	$ 283,192
Foreign translation adjustment	14,543
Ending balance	$ 297,735
% by which estimated fair value exceeds carrying value	151.30%
Solutions [Member]
Goodwill [Roll Forward]
Beginning balance	$ 260,981
Foreign translation adjustment	0
Ending balance	$ 260,981
% by which estimated fair value exceeds carrying value	34.00%

Goodwill and Intangible Asset45

Goodwill and Intangible Assets, Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended
	Jan. 31, 2018	Jul. 31, 2017	Apr. 30, 2017
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	$ 236,209		$ 219,234
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	632,422		608,865
Total	868,631		828,099
Brands and Trademarks [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	140,127		135,061
Content and Publishing Rights [Member]
Indefinite-lived Intangible Assets [Line Items]
Intangible assets with indefinite lives	96,082		84,173
Content and Publishing Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	449,358		421,597
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	165,572		169,116
Brands and Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	16,784		17,195
Covenants Not to Compete [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives	$ 708		$ 957
Brands [Member]
Finite-Lived Intangible Assets [Line Items]
Net intangible assets with determinable lives		$ 1,200
Impairment of intangible assets		$ 3,600
Estimated useful life	5 years

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		8 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2020	Jan. 31, 2018	Jan. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Apr. 30, 2018
Effective income tax rate [Abstract]
Effective Tax Rate as Reported		(18.10%)	3.20%			4.00%	49.50%
Estimated net impact in fiscal 2018 of non-recurring items from Tax Act		42.90%	0.00%			17.40%	0.00%
Impact of unfavorable German court decision in fiscal 2017		(0.00%)	(0.00%)			(0.00%)	(35.80%)
Impact of reduction in U.K. statutory rate on deferred tax balances in fiscal 2017		(0.00%)	(0.00%)			(0.00%)	4.40%
Effective Tax Rate excluding the impact of non-recurring items from the Tax Act in fiscal 2018 and the unfavorable German court decision and UK tax rate reduction in fiscal 2017		24.80%	3.20%			21.40%	18.10%
Income Tax Disclosure [Line Items]
Reduction in income tax expense resulting from estimated non-recurring items in the Tax Act						$ (25)
Reduction in income tax expense resulting from estimated non-recurring items in the Tax Act (in dollars per share)						$ 0.43
Federal statutory tax rate					35.00%
Tax benefit related to re-measurement of net deferred tax liability						$ (40)
Repatriation tax rate on foreign earnings held in cash equivalents and certain net assets						15.50%
Repatriation tax rate on foreign earnings held in other assets						8.00%
Provisional tax expense related to mandatory deemed repatriation tax on foreign earnings						$ 14.5
Plan [Member]
Income Tax Disclosure [Line Items]
Federal statutory tax rate				21.00%				30.40%
U.K. [Member]
Income Tax Disclosure [Line Items]
Foreign statutory tax rate in 2020						18.00%
U.K. [Member] | Plan [Member]
Income Tax Disclosure [Line Items]
Foreign statutory tax rate in 2020	17.00%
State [Member]
Income Tax Disclosure [Line Items]
Accrued provisional tax liability		$ 0.5				$ 0.5

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017
Defined benefit plans, net periodic benefit cost [Abstract]
Service cost	$ 243	$ 241	$ 715	$ 744
Interest cost	6,407	6,565	19,005	20,269
Expected return on plan assets	(9,924)	(8,588)	(29,363)	(26,619)
Net amortization of prior service cost	(24)	(26)	(72)	(75)
Recognized net actuarial loss	1,536	1,268	4,550	3,900
Pension plan actuarial loss	0	0	21	8,842
Net pension (income) expense	(1,762)	(540)	(5,144)	7,061
Employer defined benefit pension plan contributions	2,800	3,200	8,400	13,800
Contributions for employer defined contribution plans	$ 3,400	$ 3,100	$ 11,300	$ 11,600

Derivative Instruments and He48

Derivative Instruments and Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Jan. 31, 2018	Jan. 31, 2017	Jan. 31, 2018	Jan. 31, 2017	Apr. 30, 2017
Derivative [Line Items]
Variable rate loans outstanding	$ 428.2	$ 865.7	$ 428.2	$ 865.7
Interest Rate Swaps [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Interest Expense [Member]
Derivative [Line Items]
Net gain (losses) reclassified from Accumulated Other Comprehensive Loss	0.4		0.8		$ (1.1)
Interest Rate Swaps [Member] | Recurring [Member] | Level 2 [Member] | Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Assets fair value of derivative instrument	$ 5.1		$ 5.1		$ 3.9
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%
Description of variable rate basis			one-month LIBOR
Term of variable rate			1 month
Term of derivative instrument			3 years
Expiration date			May 15, 2019
Notional amount of derivative liability	$ 350	350	$ 350	350
Forward Exchange Contracts [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Transaction Gains (Losses) [Member]
Derivative [Line Items]
Gain (loss) on fair value of derivative instruments		(11.5)		(53.2)
Forward Exchange Contracts [Member] | Recurring [Member] | Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Prepaid and Other Current Assets [Member]
Derivative [Line Items]
Gain recognized on derivative instruments		$ 54.5		$ 54.5