Scholastic (SCHL) 10-Q 20 Sep 19 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Aug. 31, 2019shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Aug. 31, 2019
Entity File Number	000-19860
Entity Registrant Name	SCHOLASTIC CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3385513
Entity Address, Address Line One	557 Broadway,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10012
City Area Code	212
Local Phone Number	343-6100
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	SCHL
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000866729
Current Fiscal Year End Date	--05-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	33,052,284
Common Class A
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	1,656,200

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Income Statement [Abstract]
Revenues	$ 232.6	$ 218.4
Operating costs and expenses:
Cost of goods sold	137.1	125.3
Selling, general and administrative expenses	167.5	163.7
Depreciation and amortization	15.4	13.2
Total operating costs and expenses	320	302.2
Operating income (loss)	(87.4)	(83.8)
Interest income (expense), net	0.7	0.8
Other components of net periodic benefit (cost)	(0.4)	(0.4)
Earnings (loss) before income taxes	(87.1)	(83.4)
Provision (benefit) for income taxes	(28.6)	(22.1)
Net income (loss)	(58.5)	(61.3)
Less: Net income (loss) attributable to noncontrolling interests	0	0
Net income (loss) attributable to Scholastic Corporation	$ (58.5)	$ (61.3)
Basic and diluted earnings (loss) per Share of Class A and Common Stock
Basic (in Dollars per share)	$ (1.68)	$ (1.75)
Diluted (in Dollars per share)	$ (1.68)	$ (1.75)

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Statement of Comprehensive Income [Abstract]
Net Income (loss)	$ (58.5)	$ (61.3)
Other comprehensive income (loss), net:
Foreign currency translation adjustment	(2)	(3.1)
Pension and postretirement adjustments (net of tax)	0.2	0.2
Total other comprehensive income (loss), net	(1.8)	(2.9)
Comprehensive income (loss)	(60.3)	(64.2)
Less: Net income (loss) attributable to noncontrolling interest		0
Comprehensive income (loss) attributable to Scholastic Corporation	$ (60.3)	$ (64.2)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018
Current Assets:
Cash and cash equivalents	$ 199.4	$ 334.1	$ 269.8
Accounts receivable, net	226.1	250.1	223.7
Inventories, net	403.6	323.7	402.3
Prepaid expenses and other current assets	109.7	52.7	107.6
Total current assets	938.8	960.6	1,003.4
Property, plant and equipment, net	579.9	577.7	563.5
Prepublication costs	71.1	70.2	58.5
Operating lease right-of-use assets, net	81.7
Royalty advances, net	50	47.5	47.1
Goodwill	125	125.2	119.1
Noncurrent deferred income taxes	36.8	37	40.9
Other assets and deferred charges	61.3	60.3	67.1
Total noncurrent assets	1,005.8	917.9	896.2
Total assets	1,944.6	1,878.5	1,899.6
Current Liabilities:
Lines of credit, short-term debt and current portion of long-term debt	13	7.3	15.7
Accounts payable	226.4	195.3	242.3
Accrued royalties	63.3	41.9	56.4
Deferred revenue	142.3	130.8	130.4
Other accrued expenses	155.6	164.8	185.9
Accrued income taxes	0.7	1.4	0.7
Operating lease liabilities	24.1
Total current liabilities	625.4	541.5	631.4
Noncurrent Liabilities:
Long-term debt	0	0	0
Operating lease liabilities	61.1
Other noncurrent liabilities	61.4	64.2	58.8
Total noncurrent liabilities	122.5	64.2	58.8
Commitments and Contingencies	0	0	0
Stockholders’ Equity:
Preferred Stock, $1.00 par value	0	0	0
Common Stock, value	0.4	0.4	0.4
Additional paid-in capital	622.2	620.8	615.5
Accumulated other comprehensive income (loss)	(61.5)	(59.7)	(58.6)
Retained earnings	948.9	1,012.6	952.1
Treasury stock at cost	(314.6)	(302.6)	(300)
Total stockholders’ equity	1,195.4	1,271.5	1,209.4
Noncontrolling interest	1.3	1.3	0
Total liabilities and stockholders’ equity	1,196.7	1,272.8	1,209.4
Total liabilities and stockholders’ equity	1,944.6	1,878.5	1,899.6
Common Class A
Stockholders’ Equity:
Common Stock, value	$ 0	$ 0	$ 0

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018
Preferred stock at par value per share (in dollars per share)	$ 1	$ 1	$ 1
Preferred stock, shares authorized	2,000,000	2,000,000	2,000,000
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common Stock, par value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	70,000,000	70,000,000	70,000,000
Common stock, shares issued	42,900,000	42,900,000	42,900,000
Common stock, shares outstanding	33,100,000	33,400,000	33,400,000
Treasury stock (in shares)	9,800,000	9,500,000	9,500,000
Common Class A
Common Stock, par value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	4,000,000	4,000,000	4,000,000
Common stock, shares issued	1,700,000	1,700,000	1,700,000
Common stock, shares outstanding	1,700,000	1,700,000	1,700,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY Statement - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Common StockCommon Class A	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Parent [Member]	Noncontrolling Interest [Member]
Balance at May. 31, 2018	$ 1,320.8	$ 0.4	$ 0	$ 614.4	$ (55.7)	$ 1,065.2	$ (303.5)	$ 1,320.8	$ 0
Balance at Aug. 31, 2018	1,209.4	$ 0.4	0	615.5	(58.6)	952.1	(300)	1,209.4	0
Net Income (loss)	(61.3)					(61.3)		(61.3)
Foreign currency translation adjustment	(3.1)				(3.1)			(3.1)
Pension and post-retirement adjustments (net of tax of $0.0)	0.2				0.2			0.2
Stock-based compensation	1.5			1.5				1.5
Proceeds pursuant to stock-based compensation plans	2.8			2.8				2.8
Treasury stock issued pursuant to equity-based plans (in shares)		0.1
Treasury stock issued pursuant to equity-based plans	0.3			(3.2)			3.5	0.3
Noncontrolling interest in Make Believe Ideas			$ 0
Dividends ($0.15 per share)	(5.3)					(5.3)		(5.3)
Balance (in shares) at Aug. 31, 2018		33.4	1.7
Balance (in shares) at May. 31, 2018		33.3	1.7
Balance at May. 31, 2019	1,272.8	$ 0.4	$ 0	620.8	(59.7)	1,012.6	(302.6)	1,271.5	1.3
Balance at Aug. 31, 2019	1,196.7	$ 0.4	$ 0	622.2	(61.5)	948.9	(314.6)	1,195.4	$ 1.3
Net Income (loss)	(58.5)					(58.5)		(58.5)
Foreign currency translation adjustment	(2)				(2)			(2)
Pension and post-retirement adjustments (net of tax of $0.0)	0.2				$ 0.2			0.2
Stock-based compensation	1.5			1.5				1.5
Purchases of treasury stock at cost (in shares)		(0.3)
Purchases of treasury stock at cost	(12.6)						(12.6)	(12.6)
Treasury stock issued pursuant to equity-based plans (in shares)		0
Treasury stock issued pursuant to equity-based plans	0.5			$ (0.1)			$ 0.6	0.5
Dividends ($0.15 per share)	$ (5.2)					$ (5.2)		$ (5.2)
Balance (in shares) at Aug. 31, 2019		33.1	1.7
Balance (in shares) at May. 31, 2019		33.4	1.7

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Provision (benefit) for income taxes	$ (28.6)	$ (22.1)
Pension and postretirement adjustments, tax portion	$ 0	0
ASU 2014-09
Provision (benefit) for income taxes		$ 16
Common Class A
Dividends declared per class A and common share (in Dollars per share)	$ 0.15	$ 0.15

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Cash flows - operating activities:
Net Income (loss)	$ (58.5)	$ (61.3)
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:
Provision for losses on accounts receivable	1.6	1.4
Provision for losses on inventory	4.1	3
Provision for losses on royalty advances	1.1	1
Amortization of prepublication and production costs	6.4	5.2
Depreciation and amortization	16.1	14
Amortization of pension and postretirement actuarial gains and losses	0.2	0.2
Deferred income taxes	0.1	0
Stock-based compensation	1.5	1.5
Income from equity investments	(1)	(2)
Changes in assets and liabilities:
Accounts receivable	21.5	9.2
Inventories	(85.3)	(114.6)
Prepaid expenses and other current assets	(28.1)	(23.7)
Income tax receivable	(29.1)	(22.1)
Royalty advances	(3.8)	(3.5)
Accounts payable	32.2	50.5
Accrued income taxes	(0.8)	(1)
Accrued royalties	21.7	22.2
Deferred revenue	11.8	19.7
Other assets and liabilities	(9.3)	11.3
Net cash provided by (used in) operating activities	(97.6)	(89)
Cash flows - investing activities:
Prepublication and production expenditures	(7.4)	(8.8)
Additions to property, plant and equipment	(13.5)	(28.1)
Acquisition of land	(3.3)	0
Other investment and acquisition related payments	(0.1)	(0.5)
Net cash provided by (used in) investing activities	(24.3)	(37.4)
Cash flows - financing activities:
Borrowings under lines of credit	8.1	11.6
Repayments of lines of credit	(1.9)	(3.6)
Repayment of capital lease obligations	(0.4)	(0.3)
Reacquisition of common stock	(12.6)	0
Proceeds pursuant to stock-based compensation plans	0	2.7
Payment of dividends	(5.3)	(5.2)
Other	(0.2)	0
Net cash provided by (used in) financing activities	(12.3)	5.2
Effect of exchange rate changes on cash and cash equivalents	(0.5)	(0.9)
Net increase (decrease) in cash and cash equivalents	(134.7)	(122.1)
Cash and cash equivalents at beginning of period	334.1	391.9
Cash and cash equivalents at end of period	$ 199.4	$ 269.8

Basis of Presentation

Basis of Presentation	3 Months Ended
	Aug. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	BASIS OF PRESENTATION Principles of consolidation The accompanying condensed consolidated interim financial statements (referred to as the “Financial Statements” herein) include the accounts of Scholastic Corporation (the “Corporation”) and all wholly-owned and majority-owned subsidiaries (collectively, “Scholastic” or the “Company”). Intercompany transactions are eliminated in consolidation. The Company’s fiscal year is not a calendar year. Accordingly, references in this document to fiscal 2020 relate to the twelve-month period ending May 31, 2020. Certain reclassifications have been made to conform to the current year presentation. Interim Financial Statements The accompanying Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information, and should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2019 . The Financial Statements presented in this Quarterly Report on Form 10-Q are unaudited; however, in the opinion of management, the Financial Statements reflect all adjustments, consisting solely of normal, recurring adjustments, necessary for the fair presentation of the Financial Statements for the periods presented. Seasonality The Company’s Children’s Book Publishing and Distribution school-based book club and book fair channels and most of its Education businesses operate on a school-year basis; therefore, the Company’s business is highly seasonal. As a result, the Company’s revenues in the first and third quarters of the fiscal year generally are lower than its revenues in the other two fiscal quarters. Typically, school-based channels and magazine revenues are minimal in the first quarter of the fiscal year as schools are not in session. Trade sales can vary throughout the year due to varying release dates of published titles. The Company generally experiences a loss from operations in the first and third quarters of each fiscal year. Use of estimates The preparation of these Financial Statements involves the use of estimates and assumptions by management, which affects the amounts reported in the Financial Statements and accompanying notes. The Company bases its estimates on historical experience, current business factors, and various other assumptions believed to be reasonable under the circumstances, all of which are necessary, in order to form a basis for determining the carrying values of certain assets and liabilities. Actual results may differ from those estimates and assumptions. On an on-going basis, the Company evaluates the adequacy of its reserves and the estimates used in these calculations, including, but not limited to: • Accounts receivable allowance for doubtful accounts • Pension and postretirement benefit plans • Uncertain tax positions • The timing and amount of future income taxes and related deductions • Inventory reserves • Cost of goods sold from book fair operations during interim periods based on estimated gross profit rates • Sales tax contingencies • Royalty advance reserves and royalty expense accruals • Impairment testing for goodwill, intangible and other long-lived assets and investments • Assets and liabilities acquired in business combinations • Variable consideration related to anticipated returns • Allocation of transaction price to performance obligations New Accounting Pronouncements Current Fiscal Quarter Adoption: ASU No. 2016-02, ASU No. 2018-10 and ASU No. 2018-11 In February 2016, the Financial Accounting Standards Board (the "FASB") issued ASU No. 2016-02, Leases (Topic 842), which supersedes existing guidance on accounting for leases in ASC Topic 840, Leases. The amendments in this ASU require lessees to account for leases as either finance leases or operating leases and generally require all leases to be recorded on the balance sheet, through the recognition of right-of-use (ROU) assets and corresponding lease liabilities. The lease liability should be measured at the present value of the lease payments over the lease term. The ROU asset should be measured at the lease liability amount, adjusted for lease prepayments, lease incentives received and lessee's initial direct costs (e.g., commissions). The guidance also requires specific qualitative and quantitative disclosures about leasing activities. In addition, in July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which provide an additional (and optional) transition method whereby the new lease standard is applied at the adoption date and recognized as an adjustment to retained earnings. The Company adopted ASU No. 2016-02 as of the beginning of the first quarter of fiscal 2020 using the modified retrospective approach with no restatement of prior year amounts. In connection with the adoption of this standard, the Company applied the package of practical expedients intended to ease transition for existing leases by not requiring the Company to reassess 1) its initial lease classification conclusions for existing or expired leases; 2) whether an existing or expired contract is a lease or contains an embedded lease; 3) the capitalization of initial direct costs for existing or expired leases. Upon adoption of ASU No. 2016-02, the Company recognized initial ROU assets and lease liabilities consistent with the range previously disclosed in the Company's Annual Report on Form 10-K for the year ended May 31, 2019 with no adjustment to retained earnings. Refer to Note 10, Leases, for further discussion of the Company's lease accounting policy and related disclosures. ASU No. 2018-15 In August 2018, the FASB issued ASU No. 2018-15, Intangibles— Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which reduces the complexity in accounting for costs of implementing a cloud computing service arrangement. This standard aligns the accounting for implementation costs of hosting arrangements, regardless of whether it conveys a license of the hosted software. ASU No. 2018-15 aligns the following requirements for capitalizing implementation costs: (1) those incurred in a hosting arrangement that is a service contract and (2) those incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted ASU No. 2018-15 as of the beginning of the first quarter of fiscal 2020 using the prospective approach. In the first fiscal quarter, the Company capitalized approximately $2.7 of cloud computing costs in the first quarter of fiscal 2020 which have not yet been placed into service. In addition, this amount is included within Other assets and deferred charges within the Company's Condensed Consolidated Balance Sheets and within the operating section of the Company's Condensed Consolidated Statement of Cash Flows. ASU No. 2018-02 In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220)—Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The amendments in this update affect any entity that is required to apply the provisions of Topic 220, Income Statement-Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by U.S. GAAP. The Company adopted ASU No. 2018-02 as of the beginning of the first quarter of fiscal 2020 which resulted in no impact to the Company's financial statements.

Revenues

Revenues	3 Months Ended
	Aug. 31, 2019
Revenue from Contract with Customer [Abstract]
Revenues	REVENUES Disaggregated Revenue Data The following table presents the Company’s revenues disaggregated by region and domestic channel: Three months ended August 31, 2019 2018 U.S. Book Clubs $8.0 $9.1 U.S. Book Fairs 27.5 25.2 U.S. Trade 67.7 61.4 U.S. Education 48.4 47.9 Non-U.S. Major Markets (1) 56.3 50.3 Non-U.S. Other Markets (2) 24.7 24.5 Total Revenues $232.6 $218.4 (1) - Includes Canada, UK, Australia and New Zealand. (2) - Primarily includes markets in Asia. Estimated Returns A liability for expected returns of $ 35.5 , $ 34.5 , and $45.4 is recorded within Other accrued expenses on the Company's Condensed Consolidated Balance Sheets as of August 31, 2019 , May 31, 2019 , and August 31, 2018 , respectively. In addition, a return asset of $1.8 , $1.6 , and $3.5 is recorded within Prepaid expenses and other current assets as of August 31, 2019 , May 31, 2019 , and August 31, 2018 , respectively, for the recoverable cost of product estimated to be returned by customers. Deferred Revenue The Company's contract liabilities consist of 1) advance billings and payments received from customers in excess of revenue recognized and 2) revenue allocated to outstanding book fairs incentive credits. These liabilities are recorded within Deferred revenue on the Company's Condensed Consolidated Balance Sheets and are classified as short term, as substantially all of the associated performance obligations are expected to be satisfied, and related revenue recognized, within one year. For the three months ended August 31, 2019 , the Company recognized $18.8

Segment Information

Segment Information	3 Months Ended
	Aug. 31, 2019
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company categorizes its businesses into three reportable segments: Children’s Book Publishing and Distribution, Education and International . • Children’s Book Publishing and Distribution operates as an integrated business which includes the publication and distribution of children’s books, ebooks, media and interactive products in the United States through its book clubs and book fairs in its school channels and through the trade channel. This segment is comprised of three operating segments. • Education includes the publication and distribution to schools and libraries of children’s books, classroom magazines, print and digital supplemental and core classroom materials and related support services, and print and on-line reference and non-fiction products for grades pre-kindergarten to 12 in the United States. This segment is comprised of three operating segments. • International includes the publication and distribution of products and services outside the United States by the Company’s international operations, and its export and foreign rights businesses. This segment is comprised of three operating segments. The following table sets forth information for the Company's segments for the fiscal quarters ended August 31, 2019 and 2018: Children’s Education Overhead (1) Total International Total Three months ended Revenues $109.6 $48.4 $0.0 $158.0 $74.6 $232.6 Bad debt expense 0.5 0.0 — 0.5 1.1 1.6 Depreciation and amortization (2) 6.7 3.1 11.0 20.8 1.7 22.5 Segment operating income (loss) (41.7 ) (13.4 ) (28.6 ) (83.7 ) (3.7 ) (87.4 ) Segment assets at August 31, 2019 651.9 198.7 808.4 1,659.0 285.6 1,944.6 Goodwill at August 31, 2019 46.8 68.2 — 115.0 10.0 125.0 Expenditures for other noncurrent assets (3) 14.0 4.6 6.9 25.5 7.6 33.1 Other noncurrent assets at (3) 219.2 120.0 520.0 859.2 93.0 952.2 Three months ended Revenues $95.7 $47.9 $0.0 $143.6 $74.8 $218.4 Bad debt expense 0.8 0.0 — 0.8 0.6 1.4 Depreciation and amortization (2) 5.7 2.0 9.9 17.6 1.6 19.2 Segment operating income (loss) (46.0 ) (14.9 ) (20.9 ) (81.8 ) (2.0 ) (83.8 ) Segment assets at 554.6 182.9 884.2 1,621.7 277.9 1,899.6 Goodwill at August 31, 2018 40.9 68.2 — 109.1 10.0 119.1 Expenditures for other noncurrent assets (3) 10.8 5.1 25.5 41.4 4.3 45.7 Other noncurrent assets at (3) 151.5 106.9 499.7 758.1 76.2 834.3 (1) Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets. Unallocated assets are principally comprised of deferred income taxes and property, plant and equipment related to the Company’s headquarters in the metropolitan New York area, its fulfillment and distribution facilities located in Missouri, its facility located in Connecticut and certain technology assets. (2) Includes depreciation of property, plant and equipment and amortization of intangible assets and prepublication and production costs. (3) Other noncurrent assets include property, plant and equipment, prepublication assets, production assets, royalty advances, goodwill, intangible assets and investments. Expenditures for other noncurrent assets for the International reportable segment include expenditures for long-lived assets of $5.7 and $2.8 for the three months ended August 31, 2019 and August 31, 2018 , respectively. Other noncurrent assets for the International reportable segment include long-lived assets of $64.5 and $37.0 as of August 31, 2019 and August 31, 2018 , respectively.

Debt

Debt	3 Months Ended
	Aug. 31, 2019
Debt Disclosure [Abstract]
Debt	DEBT The following table summarizes the carrying value of the Company's debt as of the dates indicated: August 31, 2019 May 31, 2019 August 31, 2018 Revolving Loan — — — Unsecured lines of credit (weighted average interest rates of 4.1%, 4.1% and 3.6%, respectively) 13.0 7.3 15.7 Total debt $13.0 $7.3 $15.7 The Company's debt obligations have maturities of one year or less. Loan Agreement On January 5, 2017, Scholastic Corporation and Scholastic Inc. (each, a “Borrower” and together, the “Borrowers”) entered into a 5-year credit facility with certain banks (the “Loan Agreement”). The Loan Agreement replaced the Company's then existing loan agreement and has substantially similar terms, except that: • the borrowing limit was reduced to $375.0 from $425.0 ; • the “starter” basket for permitted payments of dividends and other payments in respect of capital stock was increased to $275.0 from $75.0 ; and • the maturity date was extended to January 5, 2022 . The prior loan agreement, which was originally entered into in 2007 and had a maturity date of December 5, 2017 , was terminated on January 5, 2017 in connection with the entry into the new Loan Agreement and was treated as a debt modification. The Loan Agreement allows the Company to borrow, repay or prepay and reborrow at any time prior to the January 5, 2022 maturity date. Under the Loan Agreement, interest on amounts borrowed thereunder is due and payable in arrears on the last day of the interest period (defined as the period commencing on the date of the advance and ending on the last day of the period selected by the Borrower at the time each advance is made). The interest pricing under the Loan Agreement is dependent upon the Borrower’s election of a rate that is either: • A Base Rate equal to the higher of (i) the prime rate, (ii) the prevailing Federal Funds rate plus 0.50% or (iii) the Eurodollar Rate for a one month interest period plus 1% plus, in each case, an applicable spread ranging from 0.175% to 0.60% , as determined by the Company’s prevailing consolidated debt to total capital ratio. - or - • A Eurodollar Rate equal to the London interbank offered rate (LIBOR) plus an applicable spread ranging from 1.175% to 1.60% , as determined by the Company’s prevailing consolidated debt to total capital ratio. As of August 31, 2019 , the indicated spread on Base Rate Advances was 0.175% and the indicated spread on Eurodollar Advances was 1.175% , both based on the Company’s prevailing consolidated debt to total capital ratio. The Loan Agreement also provides for the payment of a facility fee in respect of the aggregate amount of revolving credit commitments ranging from 0.20% to 0.40% per annum based upon the Company’s prevailing consolidated debt to total capital ratio. At August 31, 2019 , the facility fee rate was 0.20% . A portion of the revolving credit facility, up to a maximum of $50.0 , is available for the issuance of letters of credit. In addition, a portion of the revolving credit facility, up to a maximum of $15.0 , is available for swingline loans. The Loan Agreement has an accordion feature which permits the Company, provided certain conditions are satisfied, to increase the facility by up to an additional $150.0 . As of August 31, 2019 , the Company had no outstanding borrowings under the Loan Agreement. At August 31, 2019 , the Company had open standby letters of credit totaling $5.3 issued under certain credit lines, including $ 0.4 under the Loan Agreement and $ 4.9 under the domestic credit lines discussed below. The Loan Agreement contains certain covenants, including interest coverage and leverage ratio tests and certain limitations on the amount of dividends and other distributions and the Company was in compliance with these covenants for all periods presented. Lines of Credit As of August 31, 2019 , the Company’s domestic credit lines available under unsecured money market bid rate credit lines totaled $25.0 . There were no outstanding borrowings under these credit lines as of August 31, 2019 , May 31, 2019 or August 31, 2018 . As of August 31, 2019 , availability under these unsecured money market bid rate credit lines totaled $20.1 . All loans made under these credit lines are at the sole discretion of the lender and at an interest rate and term agreed to at the time each loan is made, but not to exceed 365 days. These credit lines may be renewed, if requested by the Company, at the option of the lender. As of August 31, 2019 , the Company had various local currency credit lines totaling $24.3 underwritten by banks primarily in the United States, Canada and the United Kingdom. Outstanding borrowings under these facilities were $13.0 at August 31, 2019 at a weighted average interest rate of 4.1% , $7.3 at May 31, 2019 at a weighted average interest rate of 4.1% , and $15.7 at August 31, 2018 at a weighted average interest rate of 3.6% . As of August 31, 2019 , the amounts available under these facilities totaled $11.3 . These credit lines are typically available for overdraft borrowings or loans up to 364

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Aug. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Various claims and lawsuits arising in the normal course of business are pending against the Company. The Company accrues a liability for such matters when it is probable that a liability exists and the amount of such liability can be reasonably estimated. When only a range can be estimated, the most probable amount in the range is accrued unless no amount within the range is a better estimate than any other amount, in which case the minimum amount in the range is accrued. Legal costs associated with litigation are expensed in the period in which they are incurred. The Company does not expect, in the case of those various claims and lawsuits arising in the normal course of business where a loss is considered probable or reasonably possible, that the reasonably possible losses from such claims and lawsuits (either individually or in the aggregate) would have a material adverse effect on the Company’s consolidated financial position or results of operations. In the current fiscal year quarter, based on the status of negotiations, an alleged patent infringement claim settlement became probable and estimable. As such, an accrual of $1.5 was recognized in the Financial Statements. The settlement is expected to be finalized in the second fiscal year quarter. On June 21, 2018, the U.S. Supreme Court issued its opinion in South Dakota v. Wayfair, Inc. et. al., reversing prior precedent, in particular Quill Corp. v. North Dakota (1992), which held that states could not constitutionally require retailers to collect and remit sales or use taxes in respect to mail order or internet sales made to residents of a state in the absence of the retailer having a physical presence in the taxing state. As a result, the Company will now have an obligation, at least on a go forward basis, based on each state's enforcement date, to collect and remit sales and use taxes, primarily in respect to sales made through its school book club channel, as well as certain sales made through its ecommerce internet sites, to residents in states that the Company has not previously remitted sales or use taxes based on having no physical presence in such states. In the majority opinion, several factors were discussed in support of the Court’s reasoning that the collection of sales and use taxes from out-of-state retailers did not constitute an undue burden on interstate commerce, including the fact that South Dakota did not require retroactive application of its statute. However, the question of retroactive application, as well as certain other factors noted in the opinion, will be subject to how the states, on a state-by-state basis, interpret and apply the Court’s decision in their implementation of their respective state laws or regulations addressing the collection of sales and use taxes from out-of-state retailers. As a result, how the decision will affect the Company will depend on the positions taken by the states, on a state-by-state basis, relating to the retroactive application of the obligation to collect such taxes, as well as other factors noted in the opinion. The Company continues to monitor its compliance based on anticipated enforcement dates and an assumption as to each state's likely interpretation and application of the Court's decision. As the Company continues to monitor each state, the staggered enforcement dates, and the progress towards compliance, expenses will be incurred by the Company. As of August 31, 2019 , the Company’s school book club channel remits sales taxes in 43 states compared to 11 states in the prior fiscal year quarter ended August 31, 2018, and, as a result, the Company has incurred additional costs for the three months ended August 31, 2019 related to sales tax on the associated revenue. Any on-going or future litigation with states relating to sales and use taxes could be impacted favorably or unfavorably by legislative action in future fiscal periods.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Aug. 31, 2019
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	EARNINGS (LOSS) PER SHARE The following table summarizes the reconciliation of the numerators and denominators for the basic and diluted earnings (loss) per share computation for the periods indicated: Three months ended August 31, 2019 2018 Net income (loss) attributable to Class A and Common Shares $(58.5) $(61.3) Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) 34.9 35.0 Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) * * * Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) * * Earnings (loss) per share of Class A Stock and Common Stock: Basic $(1.68) $(1.75) Diluted $(1.68) $(1.75) * For the three month periods ended August 31, 2019 and August 31, 2018 , the Company experienced a loss from operations and therefore, there is no dilutive share impact. The following table sets forth options outstanding pursuant to stock-based compensation plans as of the dates indicated: August 31, 2019 August 31, 2018 Options outstanding pursuant to stock-based compensation plans (in millions) 3.0 2.7 There were 1.8 million of potentially anti-dilutive shares pursuant to stock-based compensation plans as of August 31, 2019 . A portion of the Company’s Restricted Stock Units ("RSUs") which are granted to employees participate in earnings through cumulative dividends which are payable and non-forfeitable to the employees upon vesting of the RSUs. Accordingly, the Company measures earnings per share based upon the lower of the Two-class method or the Treasury Stock method. For the three month periods ended August 31, 2019 and August 31, 2018 , the Company experienced a Net loss and did not allocate any losses to the participating RSUs. As of August 31, 2019 , $40.2

Goodwill and Other Intangibles

Goodwill and Other Intangibles	3 Months Ended
	Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	GOODWILL AND OTHER INTANGIBLES The Company assesses goodwill and other intangible assets with indefinite lives for impairment annually or more frequently if indicators arise. The Company monitors impairment indicators in light of changes in market conditions, near and long-term demand for the Company’s products and other relevant factors. The following table summarizes the activity in Goodwill for the periods indicated: August 31, 2019 May 31, 2019 August 31, 2018 Gross beginning balance $164.8 $158.8 $158.8 Accumulated impairment (39.6 ) (39.6 ) (39.6 ) Beginning balance $125.2 $119.2 $119.2 Additions — 6.3 — Foreign currency translation (0.2 ) (0.3 ) (0.1 ) Ending balance $125.0 $125.2 $119.1 In fiscal 2019, the Company completed the purchase of a majority-ownership position in Make Believe Ideas Limited, a UK-based children's book publishing business, resulting in the recognition of $6.3 of Goodwill. There were no impairment charges related to Goodwill in any of the periods presented. The following table summarizes the activity in other intangibles included in Other assets and deferred charges on the Company’s Condensed Consolidated Balance Sheets for the periods indicated: August 31, 2019 May 31, 2019 August 31, 2018 Beginning balance other intangibles subject to amortization $12.2 $10.1 $10.1 Additions — 4.5 0.5 Amortization expense (0.8 ) (2.8 ) (0.7 ) Foreign currency translation (0.2 ) (0.2 ) 0.0 Other — 0.6 — Total other intangibles subject to amortization, net of accumulated amortization of $27.7, $26.9 and $24.8, respectively $11.2 $12.2 $9.9 Total other intangibles not subject to amortization $2.1 $2.1 $2.1 Total other intangibles $13.3 $14.3 $12.0 In fiscal 2019, the Company completed the purchase of a majority interest in a Make Believe Ideas Limited, included within the Children's Book Publishing & Distribution segment, which resulted in $3.9 of amortizable intangible assets. In addition, the Company also purchased a UK-based book club business and a U.S.-based book fair business resulting in the recognition of $0.6 of definite-lived intangible assets. The results of operations of these businesses are included within the International and Children's Book Publishing & Distribution segments, respectively. Intangible assets with definite lives consist principally of customer lists and intellectual property rights. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful life of all definite-lived intangible assets is approximately 5.4 years

Investments

Investments	3 Months Ended
	Aug. 31, 2019
Equity Method And Cost Method Investments [Abstract]
Investments	INVESTMENTS Investments are included in Other assets and deferred charges on the Company’s Condensed Consolidated Balance Sheets. The following table summarizes the Company’s investments as of the dates indicated: August 31, 2019 May 31, 2019 August 31, 2018 Segment Equity method investments $22.5 $23.4 $32.3 International Other equity investments 6.0 6.0 — Children's Book Publishing & Distribution Total Investments $28.5 $29.4 $32.3 Income from equity investments is reported in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and totaled $1.0 and $2.0 for the three months ended August 31, 2019 and August 31, 2018 , respectively.

Employee Benefit Plans

Employee Benefit Plans	3 Months Ended
	Aug. 31, 2019
Retirement Benefits [Abstract]
Employee Benefit Plans	EMPLOYEE BENEFIT PLANS The following table sets forth the components of net periodic benefit (cost) for the periods indicated under the Company’s defined benefit pension plan of Scholastic Ltd., an indirect subsidiary of Scholastic Corporation located in the United Kingdom (the “UK Pension Plan”) and the postretirement benefits plan, consisting of certain healthcare and life insurance benefits provided by the Company to its eligible retired United States-based employees (the “Postretirement Benefits”). UK Pension Plan Postretirement Benefits Three months ended August 31, Three months ended August 31, 2019 2018 2019 2018 Components of net periodic (benefit) cost: Service cost $0.0 $0.0 $0.0 $0.0 Interest cost 0.2 0.2 0.2 0.2 Expected return on assets (0.2 ) (0.2 ) — — Net amortization of prior service credit — — 0.0 — Amortization of (gains) losses 0.2 0.2 — — Net periodic (benefit) cost $0.2 $0.2 $0.2 $0.2 The Company’s funding practice with respect to the UK Pension Plan is to contribute on an annual basis at least the minimum amounts required by applicable law. For the three months ended August 31, 2019 , the Company contributed $0.3 to the UK Pension Plan. The Company expects, based on actuarial calculations, to contribute cash of approximately $1.1 to the UK Pension Plan for the fiscal year ending May 31, 2020 . In the second quarter of fiscal 2019, the Company announced a change in benefits for certain postretirement benefit plan participants. Beginning January 1, 2019, the plan established Health Reimbursement Accounts (HRAs) to provide these participants with additional flexibility to choose healthcare options based on individual needs. As a result of this change, the Company remeasured its Postretirement Benefits obligation as of November 30, 2018, and recognized a reduction of $2.7 to its benefit obligation and a reduction to its accumulated comprehensive loss of $2.7 in the second quarter of fiscal 2019. The related prior service credit will be amortized as a Component of net periodic benefit (cost) over the average future working lifetime for active plan participants of approximately 3.2 years

Leases

Leases	3 Months Ended
	Aug. 31, 2019
Leases [Abstract]
Leases	The Company's lease arrangements primarily relate to corporate offices and warehouse facilities, and to a lesser extent, certain equipment and other assets. The Company's leases generally have initial terms ranging from 3 to 10 years and certain leases include renewal or early-termination options, rent escalation clauses, and/or lease incentives. Lease renewal rent payment terms generally reflect adjustments for market rates prevailing at the time of renewal. The Company's leases require fixed minimum rent payments and also often require the payment of certain other costs that do not relate specifically to its right to use an underlying leased asset, but are associated with the asset such as real estate taxes, insurance, common area maintenance fees and/or certain other costs (referred to collectively herein as "non-lease components"), which may be fixed or variable in amount, depending on the terms of the respective lease agreement. The Company's leases do not contain significant residual value guarantees or restrictive covenants. The Company determines whether an arrangement contains a lease at the inception of the arrangement. If a lease is determined to exist, its related term is assessed based on the date in which the underlying asset is made available for the Company's use by the lessor. The Company's assessment of the lease term reflects the non-cancellable term of the lease, inclusive of any rent-free periods and/or periods covered by early-termination options for which the Company is reasonably certain of not exercising, as well as periods covered by renewal options for which the Company is reasonably certain of exercising. The Company also determines lease classification as either operating or finance at lease commencement, which governs the pattern of expense recognition and the presentation reflected in the Condensed Consolidated Statements of Operations over the lease term. For leases with a term exceeding 12 months, a lease liability is recorded on the Company's Condensed Consolidated Balance Sheet at lease commencement reflecting the present value of its fixed minimum payment obligations over the lease term. A corresponding ROU asset equal to the initial lease liability is also recorded, adjusted for any prepaid rent and/or initial direct costs incurred in connection with execution of the lease and reduced by any lease incentives received. The Company includes fixed payment obligations related to non-lease components in the measurement of ROU assets and lease liabilities, as it elects to account for lease and non-lease components together as a single lease component. ROU assets associated with finance leases are presented separate from operating leases ROU assets and are included within Property, plant and equipment, net on the Company's Condensed Consolidated Balance Sheet. For purposes of measuring the present value of its fixed payment obligations for a given lease, the Company uses its incremental borrowing rate, determined based on information available at lease commencement, as rates implicit in its leasing arrangements are typically not readily determinable. The Company's incremental borrowing rate reflects the rate it would pay to borrow on a secured basis, and incorporates the term and economic environment of the associated lease. For operating leases, fixed lease payments are recognized as lease expense on a straight-line basis over the lease term. For finance leases, the initial ROU asset is depreciated on a straight-line basis over the lease term, along with recognition of interest expense associated with accretion of the lease liability, which is ultimately reduced by the related fixed payments. For leases with a term of 12 months or less (referred to as a "short-term lease"), any fixed lease payments are recognized on a straight-line basis over the lease term, and are not recognized on the Condensed Consolidated balance sheet. Variable lease costs for both operating and finance leases, if any, are recognized as incurred. The following table summarizes right-of-use assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: August 31, 2019 Location within Condensed Consolidated Balance Sheet Operating leases $81.7 Operating lease right-of-use assets, net Finance leases 10.5 Property, plant and equipment, net Total lease assets $92.2 Operating leases : Current portion 24.1 Current portion of operating lease liabilities Non-current portion 61.1 Long-term operating lease liabilities Total operating lease liabilities $85.2 Finance leases : Current portion 1.8 Other accrued expenses Non-current portion 9.3 Other noncurrent liabilities Total finance lease liabilities $11.1 Total lease liabilities $96.3 The following table summarizes the activity as a result of the adoption of ASC 842 for the three months ended August 31, 2019: Three Months Ended August 31, 2019 Location within Condensed Consolidated Statement of Operations Operating lease expense $7.1 Selling, general and administrative expenses Finance lease costs : Depreciation of leased assets 0.4 Selling, general and administrative expenses Accretion of lease liabilities 0.1 Interest income (expense), net Total lease expense $7.6 The following table summarizes certain cash flows information related to the Company's leases for the three months ended August 31, 2019: Three Months Ended August 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 6.9 Operating cash flows from finance leases 0.1 Financing cash flows from finance leases 0.4 The following table provides a maturity analysis summary of the Company's lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Remainder of Fiscal 2020 $20.8 $1.7 Fiscal 2021 22.1 2.2 Fiscal 2022 18.1 2.1 Fiscal 2023 12.1 1.9 Fiscal 2024 7.0 1.8 Fiscal 2025 and thereafter 10.8 2.9 Total lease payments 90.9 12.6 Less: interest (5.7 ) (1.5 ) Total lease liabilities $85.2 $11.1 The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating leases recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Weighted-average remaining lease term (years) 4.3 6.3 Weighted-average discount rate 4.0% 3.9%
Leases	The Company's lease arrangements primarily relate to corporate offices and warehouse facilities, and to a lesser extent, certain equipment and other assets. The Company's leases generally have initial terms ranging from 3 to 10 years and certain leases include renewal or early-termination options, rent escalation clauses, and/or lease incentives. Lease renewal rent payment terms generally reflect adjustments for market rates prevailing at the time of renewal. The Company's leases require fixed minimum rent payments and also often require the payment of certain other costs that do not relate specifically to its right to use an underlying leased asset, but are associated with the asset such as real estate taxes, insurance, common area maintenance fees and/or certain other costs (referred to collectively herein as "non-lease components"), which may be fixed or variable in amount, depending on the terms of the respective lease agreement. The Company's leases do not contain significant residual value guarantees or restrictive covenants. The Company determines whether an arrangement contains a lease at the inception of the arrangement. If a lease is determined to exist, its related term is assessed based on the date in which the underlying asset is made available for the Company's use by the lessor. The Company's assessment of the lease term reflects the non-cancellable term of the lease, inclusive of any rent-free periods and/or periods covered by early-termination options for which the Company is reasonably certain of not exercising, as well as periods covered by renewal options for which the Company is reasonably certain of exercising. The Company also determines lease classification as either operating or finance at lease commencement, which governs the pattern of expense recognition and the presentation reflected in the Condensed Consolidated Statements of Operations over the lease term. For leases with a term exceeding 12 months, a lease liability is recorded on the Company's Condensed Consolidated Balance Sheet at lease commencement reflecting the present value of its fixed minimum payment obligations over the lease term. A corresponding ROU asset equal to the initial lease liability is also recorded, adjusted for any prepaid rent and/or initial direct costs incurred in connection with execution of the lease and reduced by any lease incentives received. The Company includes fixed payment obligations related to non-lease components in the measurement of ROU assets and lease liabilities, as it elects to account for lease and non-lease components together as a single lease component. ROU assets associated with finance leases are presented separate from operating leases ROU assets and are included within Property, plant and equipment, net on the Company's Condensed Consolidated Balance Sheet. For purposes of measuring the present value of its fixed payment obligations for a given lease, the Company uses its incremental borrowing rate, determined based on information available at lease commencement, as rates implicit in its leasing arrangements are typically not readily determinable. The Company's incremental borrowing rate reflects the rate it would pay to borrow on a secured basis, and incorporates the term and economic environment of the associated lease. For operating leases, fixed lease payments are recognized as lease expense on a straight-line basis over the lease term. For finance leases, the initial ROU asset is depreciated on a straight-line basis over the lease term, along with recognition of interest expense associated with accretion of the lease liability, which is ultimately reduced by the related fixed payments. For leases with a term of 12 months or less (referred to as a "short-term lease"), any fixed lease payments are recognized on a straight-line basis over the lease term, and are not recognized on the Condensed Consolidated balance sheet. Variable lease costs for both operating and finance leases, if any, are recognized as incurred. The following table summarizes right-of-use assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: August 31, 2019 Location within Condensed Consolidated Balance Sheet Operating leases $81.7 Operating lease right-of-use assets, net Finance leases 10.5 Property, plant and equipment, net Total lease assets $92.2 Operating leases : Current portion 24.1 Current portion of operating lease liabilities Non-current portion 61.1 Long-term operating lease liabilities Total operating lease liabilities $85.2 Finance leases : Current portion 1.8 Other accrued expenses Non-current portion 9.3 Other noncurrent liabilities Total finance lease liabilities $11.1 Total lease liabilities $96.3 The following table summarizes the activity as a result of the adoption of ASC 842 for the three months ended August 31, 2019: Three Months Ended August 31, 2019 Location within Condensed Consolidated Statement of Operations Operating lease expense $7.1 Selling, general and administrative expenses Finance lease costs : Depreciation of leased assets 0.4 Selling, general and administrative expenses Accretion of lease liabilities 0.1 Interest income (expense), net Total lease expense $7.6 The following table summarizes certain cash flows information related to the Company's leases for the three months ended August 31, 2019: Three Months Ended August 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 6.9 Operating cash flows from finance leases 0.1 Financing cash flows from finance leases 0.4 The following table provides a maturity analysis summary of the Company's lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Remainder of Fiscal 2020 $20.8 $1.7 Fiscal 2021 22.1 2.2 Fiscal 2022 18.1 2.1 Fiscal 2023 12.1 1.9 Fiscal 2024 7.0 1.8 Fiscal 2025 and thereafter 10.8 2.9 Total lease payments 90.9 12.6 Less: interest (5.7 ) (1.5 ) Total lease liabilities $85.2 $11.1 The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating leases recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Weighted-average remaining lease term (years) 4.3 6.3 Weighted-average discount rate 4.0% 3.9%

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Aug. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	STOCK-BASED COMPENSATION The following table summarizes stock-based compensation expense included in Selling, general and administrative expenses for the periods indicated: Three months ended August 31, 2019 2018 Stock option expense $0.6 $0.8 Restricted stock unit expense 0.8 0.6 Management stock purchase plan 0.0 0.0 Employee stock purchase plan 0.1 0.1 Total stock-based compensation expense $1.5 $1.5 The following table sets forth Common Stock issued pursuant to stock-based compensation plans for the periods indicated: Three months ended August 31, 2019 2018 Common Stock issued pursuant to stock-based compensation plans (in millions) 0.0 0.1

Treasury Stock

Treasury Stock	3 Months Ended
	Aug. 31, 2019
Stockholders' Equity Attributable to Parent [Abstract]
Treasury Stock	TREASURY STOCK The Board has authorized the Company to repurchase Common Stock, from time to time as conditions allow, on the open market or through negotiated private transactions. The table below represents the Board authorizations at the dates indicated: Authorizations Amount July 2015 $50.0 March 2018 50.0 Total current Board authorizations at June 1, 2019 $100.0 Less repurchases made under these authorizations $(59.8) Remaining Board authorization at August 31, 2019 $40.2 Repurchases of Common Stock were $12.6 during the three months ended August 31, 2019 . The Company’s repurchase program may be suspended at any time without prior notice.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the activity in Accumulated other comprehensive income (loss), net of tax, by component for the periods indicated: August 31, 2019 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2019 $(47.1) $(12.6) $(59.7) Other comprehensive income (loss) before reclassifications (2.0 ) — (2.0 ) Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of gains and losses (net of tax of $0.0) — 0.2 0.2 Amortization of prior service credit (net of tax of $0.0) — 0.0 0.0 Other comprehensive income (loss) (2.0 ) 0.2 (1.8 ) Ending balance at August 31, 2019 $(49.1) $(12.4) $(61.5) August 31, 2018 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2018 $(41.9) $(13.8) $(55.7) Other comprehensive income (loss) before reclassifications (3.1 ) — (3.1 ) Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of gains and losses (net of tax of $0.0) — 0.2 0.2 Other comprehensive income (loss) (3.1 ) 0.2 (2.9 ) Ending balance at August 31, 2018 $(45.0) $(13.6) $(58.6) Three months ended August 31, 2019 The following table presents the impact on earnings of reclassifications out of Accumulated other comprehensive income (loss) for the periods indicated: Three months ended August 31, Condensed Consolidated Statements of Operations line item 2019 2018 Employee benefit plans: Amortization of unrecognized (gain) loss $0.2 $0.2 Other components of net periodic benefit (cost) Amortization of prior service credit 0.0 — Other components of net periodic benefit (cost) Less: Tax effect 0.0 — Provision (benefit) for income taxes Total cost, net of tax $0.2 $0.2

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Aug. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS The Company determines the appropriate level in the fair value hierarchy for each fair value measurement of assets and liabilities carried at fair value on a recurring basis in the Company’s financial statements. The fair value hierarchy prioritizes the inputs, which refer to assumptions that market participants would use in pricing an asset or liability, based upon the highest and best use, into three levels as follows: • Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date. • Level 2 Observable inputs other than quoted prices included in Level 1, including quoted prices for similar assets or liabilities in active markets, quoted prices for identical assets or liabilities in inactive markets, inputs other than quoted prices that are observable for the asset or liability and inputs derived principally from or corroborated by observable market data. • Level 3 Unobservable inputs in which there is little or no market data available, which are significant to the fair value measurement and require the Company to develop its own assumptions. The Company’s financial assets and liabilities measured at fair value consisted of cash and cash equivalents, debt and foreign currency forward contracts. Cash and cash equivalents are comprised of bank deposits and short-term investments, such as money market funds, the fair value of which is based on quoted market prices, a Level 1 fair value measure. The Company employs Level 2 fair value measurements for the disclosure of the fair value of its various lines of credit. The fair value of the Company's debt approximates the carrying value for all periods presented. The fair values of foreign currency forward contracts, used by the Company to manage the impact of foreign exchange rate changes, are based on quotations from financial institutions, a Level 2 fair value measure. See Note 16, Derivatives and Hedging, for a more complete description of the fair value measurements employed. Non-financial assets for which the Company employs fair value measures on a non-recurring basis include: • Long-lived assets • Investments • Assets acquired in a business combination • Impairment assessment of Goodwill and intangible assets • Long-lived assets held for sale Level 2 and level 3 inputs are employed by the Company in the fair value measurement of these assets. For the fair value measurements employed by the Company for certain property, plant and equipment, production assets, investments and prepublication assets, the Company assessed future expected cash flows attributable to these assets.

Income Taxes and Other Taxes

Income Taxes and Other Taxes	3 Months Ended
	Aug. 31, 2019
Income Tax And Non Income Tax Disclosure [Abstract]
Income Taxes and Other Taxes	INCOME TAXES AND OTHER TAXES Income Taxes In calculating the provision for income taxes on an interim basis, the Company uses an estimate of the annual effective tax rate based upon currently known facts and circumstances and applies that rate to its year-to-date earnings or losses. The Company’s effective tax rate is based on expected income and statutory tax rates and takes into consideration permanent differences between financial statement and tax return income applicable to the Company in the various jurisdictions in which the Company operates. The effect of discrete items, such as changes in estimates, changes in enacted tax laws or rates or tax status, and unusual or infrequently occurring events, is recognized in the interim period in which the discrete item occurs. The accounting estimates used to compute the provision for income taxes may change as new events occur, additional information is obtained or as the result of new judicial interpretations or regulatory or tax law changes. The Company’s annual effective tax rate, exclusive of discrete items, is expected to be approximately 32.7% . The interim effective tax rate, inclusive of discrete items, was 32.8% for the three month period ended August 31, 2019. The Company, including its domestic subsidiaries, files a consolidated U.S. income tax return, and also files tax returns in various states and other local jurisdictions. Also, certain subsidiaries of the Company file income tax returns in foreign jurisdictions. The Company is routinely audited by various tax authorities. Non-income Taxes The Company is subject to tax examinations for sales-based taxes. A number of these examinations are ongoing and, in certain cases, have resulted in assessments from taxing authorities. The Company assesses sales tax contingencies for each jurisdiction in which it operates, considering all relevant facts including statutes, regulations, case law and experience. Where a sales tax liability with respect to a jurisdiction is probable and can be reliably estimated for such jurisdiction, the Company has made accruals for these matters which are reflected in the Company’s Condensed Consolidated Financial Statements. These amounts are included in the Financial Statements in Selling, general and administrative expenses. Future developments relating to the foregoing could result in adjustments being made to these accruals. On June 21, 2018, the U.S. Supreme Court issued its opinion in South Dakota v. Wayfair, Inc. et. al., reversing prior precedent, in particular Quill Corp. v. North Dakota (1992), which held that states could not constitutionally require retailers to collect and remit sales or use taxes in respect to mail order or internet sales made to residents of a state in the absence of the retailer having a physical presence in the taxing state. As a result, the Company now has an obligation, at least on a going forward basis, to collect and remit sales and use taxes, primarily in respect to sales made through its school book club channel, as well as certain sales made through its ecommerce internet sites, to residents in states that the Company has not previously remitted sales or use taxes based on its having no physical presence in such states. As of August 31, 2019 , the Company’s school book club channel was remitting sales taxes in 43

Derivatives and Hedging

Derivatives and Hedging	3 Months Ended
	Aug. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging	DERIVATIVES AND HEDGING The Company enters into foreign currency derivative contracts to economically hedge the exposure to foreign currency fluctuations associated with the forecasted purchase of inventory, the foreign exchange risk associated with certain receivables denominated in foreign currencies and certain future commitments for foreign expenditures. These derivative contracts are economic hedges and are not designated as cash flow hedges. The Company marks-to-market these instruments and records the changes in the fair value of these items in Selling, general and administrative expenses and it recognizes the unrealized gain or loss in other current assets or other current liabilities. The notional values of the contracts as of August 31, 2019 and August 31, 2018 were $28.0 and $30.0 , respectively. Net gains of $0.5 and $0.7 were recognized for the three months ended August 31, 2019 and August 31, 2018

Other Accrued Expenses

Other Accrued Expenses	3 Months Ended
	Aug. 31, 2019
Other Accrued Expenses Disclosure [Abstract]
Other Accrued Expenses	OTHER ACCRUED EXPENSES Other accrued expenses consist of the following as of the dates indicated: August 31, 2019 May 31, 2019 August 31, 2018 Accrued payroll, payroll taxes and benefits $43.6 $41.2 $43.9 Accrued bonus and commissions 9.3 13.7 13.3 Returns liability 35.5 34.5 45.4 Accrued other taxes 19.4 29.3 21.3 Accrued advertising and promotions 10.2 9.6 9.7 Other accrued expenses 37.6 36.5 52.3 Total accrued expenses $155.6 $164.8 $185.9

Subsequent Events

Subsequent Events	3 Months Ended
	Aug. 31, 2019
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS The Board declared a quarterly cash dividend of $0.15 per share on the Company’s Class A and Common Stock for the second quarter of fiscal 2020. The dividend is payable on December 16, 2019 to shareholders of record as of the close of business on October 31, 2019.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Aug. 31, 2019
Accounting Policies [Abstract]
Principles of consolidation	Principles of consolidation The accompanying condensed consolidated interim financial statements (referred to as the “Financial Statements” herein) include the accounts of Scholastic Corporation (the “Corporation”) and all wholly-owned and majority-owned subsidiaries (collectively, “Scholastic” or the “Company”). Intercompany transactions are eliminated in consolidation. The Company’s fiscal year is not a calendar year. Accordingly, references in this document to fiscal 2020 relate to the twelve-month period ending May 31, 2020. Certain reclassifications have been made to conform to the current year presentation.
Interim Financial Statements	Interim Financial Statements The accompanying Financial Statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and Article 10 of Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information, and should be read in conjunction with the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2019 . The Financial Statements presented in this Quarterly Report on Form 10-Q are unaudited; however, in the opinion of management, the Financial Statements reflect all adjustments, consisting solely of normal, recurring adjustments, necessary for the fair presentation of the Financial Statements for the periods presented.
Seasonality	Seasonality The Company’s Children’s Book Publishing and Distribution school-based book club and book fair channels and most of its Education businesses operate on a school-year basis; therefore, the Company’s business is highly seasonal. As a result, the Company’s revenues in the first and third quarters of the fiscal year generally are lower than its revenues in the other two fiscal quarters. Typically, school-based channels and magazine revenues are minimal in the first quarter of the fiscal year as schools are not in session. Trade sales can vary throughout the year due to varying release dates of published titles. The Company generally experiences a loss from operations in the first and third quarters of each fiscal year.
Use of estimates	Use of estimates The preparation of these Financial Statements involves the use of estimates and assumptions by management, which affects the amounts reported in the Financial Statements and accompanying notes. The Company bases its estimates on historical experience, current business factors, and various other assumptions believed to be reasonable under the circumstances, all of which are necessary, in order to form a basis for determining the carrying values of certain assets and liabilities. Actual results may differ from those estimates and assumptions. On an on-going basis, the Company evaluates the adequacy of its reserves and the estimates used in these calculations, including, but not limited to: • Accounts receivable allowance for doubtful accounts • Pension and postretirement benefit plans • Uncertain tax positions • The timing and amount of future income taxes and related deductions • Inventory reserves • Cost of goods sold from book fair operations during interim periods based on estimated gross profit rates • Sales tax contingencies • Royalty advance reserves and royalty expense accruals • Impairment testing for goodwill, intangible and other long-lived assets and investments • Assets and liabilities acquired in business combinations • Variable consideration related to anticipated returns • Allocation of transaction price to performance obligations
New Accounting Pronouncements	New Accounting Pronouncements Current Fiscal Quarter Adoption: ASU No. 2016-02, ASU No. 2018-10 and ASU No. 2018-11 In February 2016, the Financial Accounting Standards Board (the "FASB") issued ASU No. 2016-02, Leases (Topic 842), which supersedes existing guidance on accounting for leases in ASC Topic 840, Leases. The amendments in this ASU require lessees to account for leases as either finance leases or operating leases and generally require all leases to be recorded on the balance sheet, through the recognition of right-of-use (ROU) assets and corresponding lease liabilities. The lease liability should be measured at the present value of the lease payments over the lease term. The ROU asset should be measured at the lease liability amount, adjusted for lease prepayments, lease incentives received and lessee's initial direct costs (e.g., commissions). The guidance also requires specific qualitative and quantitative disclosures about leasing activities. In addition, in July 2018, the FASB issued ASU No. 2018-10, Codification Improvements to Topic 842, Leases and ASU No. 2018-11, Leases (Topic 842): Targeted Improvements, which provide an additional (and optional) transition method whereby the new lease standard is applied at the adoption date and recognized as an adjustment to retained earnings. The Company adopted ASU No. 2016-02 as of the beginning of the first quarter of fiscal 2020 using the modified retrospective approach with no restatement of prior year amounts. In connection with the adoption of this standard, the Company applied the package of practical expedients intended to ease transition for existing leases by not requiring the Company to reassess 1) its initial lease classification conclusions for existing or expired leases; 2) whether an existing or expired contract is a lease or contains an embedded lease; 3) the capitalization of initial direct costs for existing or expired leases. Upon adoption of ASU No. 2016-02, the Company recognized initial ROU assets and lease liabilities consistent with the range previously disclosed in the Company's Annual Report on Form 10-K for the year ended May 31, 2019 with no adjustment to retained earnings. Refer to Note 10, Leases, for further discussion of the Company's lease accounting policy and related disclosures. ASU No. 2018-15 In August 2018, the FASB issued ASU No. 2018-15, Intangibles— Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract, which reduces the complexity in accounting for costs of implementing a cloud computing service arrangement. This standard aligns the accounting for implementation costs of hosting arrangements, regardless of whether it conveys a license of the hosted software. ASU No. 2018-15 aligns the following requirements for capitalizing implementation costs: (1) those incurred in a hosting arrangement that is a service contract and (2) those incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The Company adopted ASU No. 2018-15 as of the beginning of the first quarter of fiscal 2020 using the prospective approach. In the first fiscal quarter, the Company capitalized approximately $2.7 of cloud computing costs in the first quarter of fiscal 2020 which have not yet been placed into service. In addition, this amount is included within Other assets and deferred charges within the Company's Condensed Consolidated Balance Sheets and within the operating section of the Company's Condensed Consolidated Statement of Cash Flows. ASU No. 2018-02 In February 2018, the FASB issued ASU No. 2018-02, Income Statement—Reporting Comprehensive Income (Topic 220)—Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. The amendments in this update allow a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. The amendments in this update affect any entity that is required to apply the provisions of Topic 220, Income Statement-Reporting Comprehensive Income, and has items of other comprehensive income for which the related tax effects are presented in other comprehensive income as required by U.S. GAAP. The Company adopted ASU No. 2018-02 as of the beginning of the first quarter of fiscal 2020 which resulted in no impact to the Company's financial statements.

Revenues (Tables)

Revenues (Tables) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Right to Recover Product, Current	$ 1.8	$ 1.6	$ 3.5
Schedule of Disaggregation of Revenue	The following table presents the Company’s revenues disaggregated by region and domestic channel: Three months ended August 31, 2019 2018 U.S. Book Clubs $8.0 $9.1 U.S. Book Fairs 27.5 25.2 U.S. Trade 67.7 61.4 U.S. Education 48.4 47.9 Non-U.S. Major Markets (1) 56.3 50.3 Non-U.S. Other Markets (2) 24.7 24.5 Total Revenues $232.6 $218.4 (1) - Includes Canada, UK, Australia and New Zealand. (2) - Primarily includes markets in Asia.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Aug. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Children’s Education Overhead (1) Total International Total Three months ended Revenues $109.6 $48.4 $0.0 $158.0 $74.6 $232.6 Bad debt expense 0.5 0.0 — 0.5 1.1 1.6 Depreciation and amortization (2) 6.7 3.1 11.0 20.8 1.7 22.5 Segment operating income (loss) (41.7 ) (13.4 ) (28.6 ) (83.7 ) (3.7 ) (87.4 ) Segment assets at August 31, 2019 651.9 198.7 808.4 1,659.0 285.6 1,944.6 Goodwill at August 31, 2019 46.8 68.2 — 115.0 10.0 125.0 Expenditures for other noncurrent assets (3) 14.0 4.6 6.9 25.5 7.6 33.1 Other noncurrent assets at (3) 219.2 120.0 520.0 859.2 93.0 952.2 Three months ended Revenues $95.7 $47.9 $0.0 $143.6 $74.8 $218.4 Bad debt expense 0.8 0.0 — 0.8 0.6 1.4 Depreciation and amortization (2) 5.7 2.0 9.9 17.6 1.6 19.2 Segment operating income (loss) (46.0 ) (14.9 ) (20.9 ) (81.8 ) (2.0 ) (83.8 ) Segment assets at 554.6 182.9 884.2 1,621.7 277.9 1,899.6 Goodwill at August 31, 2018 40.9 68.2 — 109.1 10.0 119.1 Expenditures for other noncurrent assets (3) 10.8 5.1 25.5 41.4 4.3 45.7 Other noncurrent assets at (3) 151.5 106.9 499.7 758.1 76.2 834.3 (1) Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets. Unallocated assets are principally comprised of deferred income taxes and property, plant and equipment related to the Company’s headquarters in the metropolitan New York area, its fulfillment and distribution facilities located in Missouri, its facility located in Connecticut and certain technology assets. (2) Includes depreciation of property, plant and equipment and amortization of intangible assets and prepublication and production costs. (3) Other noncurrent assets include property, plant and equipment, prepublication assets, production assets, royalty advances, goodwill, intangible assets and investments. Expenditures for other noncurrent assets for the International reportable segment include expenditures for long-lived assets of $5.7 and $2.8 for the three months ended August 31, 2019 and August 31, 2018 , respectively. Other noncurrent assets for the International reportable segment include long-lived assets of $64.5 and $37.0 as of August 31, 2019 and August 31, 2018 , respectively.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Aug. 31, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the carrying value of the Company's debt as of the dates indicated: August 31, 2019 May 31, 2019 August 31, 2018 Revolving Loan — — — Unsecured lines of credit (weighted average interest rates of 4.1%, 4.1% and 3.6%, respectively) 13.0 7.3 15.7 Total debt $13.0 $7.3 $15.7

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Aug. 31, 2019
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The following table summarizes the reconciliation of the numerators and denominators for the basic and diluted earnings (loss) per share computation for the periods indicated: Three months ended August 31, 2019 2018 Net income (loss) attributable to Class A and Common Shares $(58.5) $(61.3) Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) 34.9 35.0 Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) * * * Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) * * Earnings (loss) per share of Class A Stock and Common Stock: Basic $(1.68) $(1.75) Diluted $(1.68) $(1.75) * For the three month periods ended August 31, 2019 and August 31, 2018 , the Company experienced a loss from operations and therefore, there is no dilutive share impact.
Schedule of stock option activity	The following table sets forth options outstanding pursuant to stock-based compensation plans as of the dates indicated: August 31, 2019 August 31, 2018 Options outstanding pursuant to stock-based compensation plans (in millions) 3.0 2.7

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	3 Months Ended
	Aug. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Activity in Goodwill for the Periods Indicated	The following table summarizes the activity in Goodwill for the periods indicated: August 31, 2019 May 31, 2019 August 31, 2018 Gross beginning balance $164.8 $158.8 $158.8 Accumulated impairment (39.6 ) (39.6 ) (39.6 ) Beginning balance $125.2 $119.2 $119.2 Additions — 6.3 — Foreign currency translation (0.2 ) (0.3 ) (0.1 ) Ending balance $125.0 $125.2 $119.1
Summary of Activity in Total Other Intangibles for the Periods Indicated	The following table summarizes the activity in other intangibles included in Other assets and deferred charges on the Company’s Condensed Consolidated Balance Sheets for the periods indicated: August 31, 2019 May 31, 2019 August 31, 2018 Beginning balance other intangibles subject to amortization $12.2 $10.1 $10.1 Additions — 4.5 0.5 Amortization expense (0.8 ) (2.8 ) (0.7 ) Foreign currency translation (0.2 ) (0.2 ) 0.0 Other — 0.6 — Total other intangibles subject to amortization, net of accumulated amortization of $27.7, $26.9 and $24.8, respectively $11.2 $12.2 $9.9 Total other intangibles not subject to amortization $2.1 $2.1 $2.1 Total other intangibles $13.3 $14.3 $12.0

Investments (Tables)

Investments (Tables)	3 Months Ended
	Aug. 31, 2019
Equity Method And Cost Method Investments [Abstract]
Investments	The following table summarizes the Company’s investments as of the dates indicated: August 31, 2019 May 31, 2019 August 31, 2018 Segment Equity method investments $22.5 $23.4 $32.3 International Other equity investments 6.0 6.0 — Children's Book Publishing & Distribution Total Investments $28.5 $29.4 $32.3

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	3 Months Ended
	Aug. 31, 2019
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	The following table sets forth the components of net periodic benefit (cost) for the periods indicated under the Company’s defined benefit pension plan of Scholastic Ltd., an indirect subsidiary of Scholastic Corporation located in the United Kingdom (the “UK Pension Plan”) and the postretirement benefits plan, consisting of certain healthcare and life insurance benefits provided by the Company to its eligible retired United States-based employees (the “Postretirement Benefits”). UK Pension Plan Postretirement Benefits Three months ended August 31, Three months ended August 31, 2019 2018 2019 2018 Components of net periodic (benefit) cost: Service cost $0.0 $0.0 $0.0 $0.0 Interest cost 0.2 0.2 0.2 0.2 Expected return on assets (0.2 ) (0.2 ) — — Net amortization of prior service credit — — 0.0 — Amortization of (gains) losses 0.2 0.2 — — Net periodic (benefit) cost $0.2 $0.2 $0.2 $0.2

Leases (Tables)

Leases (Tables)	3 Months Ended
	Aug. 31, 2019
Leases [Abstract]
Assets And Liabilities	The following table summarizes right-of-use assets and lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: August 31, 2019 Location within Condensed Consolidated Balance Sheet Operating leases $81.7 Operating lease right-of-use assets, net Finance leases 10.5 Property, plant and equipment, net Total lease assets $92.2 Operating leases : Current portion 24.1 Current portion of operating lease liabilities Non-current portion 61.1 Long-term operating lease liabilities Total operating lease liabilities $85.2 Finance leases : Current portion 1.8 Other accrued expenses Non-current portion 9.3 Other noncurrent liabilities Total finance lease liabilities $11.1 Total lease liabilities $96.3
Lease Expense, Cash Flow and Weighted Average Information	The following table summarizes the activity as a result of the adoption of ASC 842 for the three months ended August 31, 2019: Three Months Ended August 31, 2019 Location within Condensed Consolidated Statement of Operations Operating lease expense $7.1 Selling, general and administrative expenses Finance lease costs : Depreciation of leased assets 0.4 Selling, general and administrative expenses Accretion of lease liabilities 0.1 Interest income (expense), net Total lease expense $7.6 The following table summarizes certain cash flows information related to the Company's leases for the three months ended August 31, 2019: Three Months Ended August 31, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases 6.9 Operating cash flows from finance leases 0.1 Financing cash flows from finance leases 0.4 The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating leases recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Weighted-average remaining lease term (years) 4.3 6.3 Weighted-average discount rate 4.0% 3.9%
Finance Lease, Maturity	The following table provides a maturity analysis summary of the Company's lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Remainder of Fiscal 2020 $20.8 $1.7 Fiscal 2021 22.1 2.2 Fiscal 2022 18.1 2.1 Fiscal 2023 12.1 1.9 Fiscal 2024 7.0 1.8 Fiscal 2025 and thereafter 10.8 2.9 Total lease payments 90.9 12.6 Less: interest (5.7 ) (1.5 ) Total lease liabilities $85.2 $11.1
Operating Lease, Maturity	The following table provides a maturity analysis summary of the Company's lease liabilities recorded on the Company's Condensed Consolidated Balance Sheet as of August 31, 2019: Operating Finance Leases Leases Remainder of Fiscal 2020 $20.8 $1.7 Fiscal 2021 22.1 2.2 Fiscal 2022 18.1 2.1 Fiscal 2023 12.1 1.9 Fiscal 2024 7.0 1.8 Fiscal 2025 and thereafter 10.8 2.9 Total lease payments 90.9 12.6 Less: interest (5.7 ) (1.5 ) Total lease liabilities $85.2 $11.1

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Aug. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	The following table summarizes stock-based compensation expense included in Selling, general and administrative expenses for the periods indicated: Three months ended August 31, 2019 2018 Stock option expense $0.6 $0.8 Restricted stock unit expense 0.8 0.6 Management stock purchase plan 0.0 0.0 Employee stock purchase plan 0.1 0.1 Total stock-based compensation expense $1.5 $1.5
Schedule of Shares Issued Pursuant to Share-based Compensation Activity	The following table sets forth Common Stock issued pursuant to stock-based compensation plans for the periods indicated: Three months ended August 31, 2019 2018 Common Stock issued pursuant to stock-based compensation plans (in millions) 0.0 0.1

Treasury Stock (Tables)

Treasury Stock (Tables)	3 Months Ended
	Aug. 31, 2019
Stockholders' Equity Attributable to Parent [Abstract]
Tabular Disclosure of an Entity's Treasury Stock	The table below represents the Board authorizations at the dates indicated: Authorizations Amount July 2015 $50.0 March 2018 50.0 Total current Board authorizations at June 1, 2019 $100.0 Less repurchases made under these authorizations $(59.8) Remaining Board authorization at August 31, 2019 $40.2

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Aug. 31, 2019
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following tables summarize the activity in Accumulated other comprehensive income (loss), net of tax, by component for the periods indicated: August 31, 2019 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2019 $(47.1) $(12.6) $(59.7) Other comprehensive income (loss) before reclassifications (2.0 ) — (2.0 ) Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of gains and losses (net of tax of $0.0) — 0.2 0.2 Amortization of prior service credit (net of tax of $0.0) — 0.0 0.0 Other comprehensive income (loss) (2.0 ) 0.2 (1.8 ) Ending balance at August 31, 2019 $(49.1) $(12.4) $(61.5) August 31, 2018 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2018 $(41.9) $(13.8) $(55.7) Other comprehensive income (loss) before reclassifications (3.1 ) — (3.1 ) Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of gains and losses (net of tax of $0.0) — 0.2 0.2 Other comprehensive income (loss) (3.1 ) 0.2 (2.9 ) Ending balance at August 31, 2018 $(45.0) $(13.6) $(58.6) Three months ended August 31, 2019
Reclassification out of Accumulated Other Comprehensive Income	The following table presents the impact on earnings of reclassifications out of Accumulated other comprehensive income (loss) for the periods indicated: Three months ended August 31, Condensed Consolidated Statements of Operations line item 2019 2018 Employee benefit plans: Amortization of unrecognized (gain) loss $0.2 $0.2 Other components of net periodic benefit (cost) Amortization of prior service credit 0.0 — Other components of net periodic benefit (cost) Less: Tax effect 0.0 — Provision (benefit) for income taxes Total cost, net of tax $0.2 $0.2

Other Accrued Expenses (Tables)

Other Accrued Expenses (Tables)	3 Months Ended
	Aug. 31, 2019
Other Accrued Expenses Disclosure [Abstract]
Schedule of Other Accrued Expenses	Other accrued expenses consist of the following as of the dates indicated: August 31, 2019 May 31, 2019 August 31, 2018 Accrued payroll, payroll taxes and benefits $43.6 $41.2 $43.9 Accrued bonus and commissions 9.3 13.7 13.3 Returns liability 35.5 34.5 45.4 Accrued other taxes 19.4 29.3 21.3 Accrued advertising and promotions 10.2 9.6 9.7 Other accrued expenses 37.6 36.5 52.3 Total accrued expenses $155.6 $164.8 $185.9

Basis of Presentation (Details)

Basis of Presentation (Details) $ in Millions	Aug. 31, 2019USD ($)
Accounting Standards Update 2018-15 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized costs	$ 2.7

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions		3 Months Ended
		Aug. 31, 2019	Aug. 31, 2018
Disaggregation of Revenue [Line Items]
Revenues		$ 232.6	$ 218.4
Children's Book Publishing and Distribution | U.S. Book Clubs
Disaggregation of Revenue [Line Items]
Revenues		8	9.1
Children's Book Publishing and Distribution | U.S. Book Fairs
Disaggregation of Revenue [Line Items]
Revenues		27.5	25.2
Children's Book Publishing and Distribution | U.S. Trade
Disaggregation of Revenue [Line Items]
Revenues		67.7	61.4
Education
Disaggregation of Revenue [Line Items]
Revenues		48.4	47.9
International | Major Markets
Disaggregation of Revenue [Line Items]
Revenues	[1]	56.3	50.3
International | Other Markets
Disaggregation of Revenue [Line Items]
Revenues	[2]	$ 24.7	$ 24.5
[1]	Includes Canada, UK, Australia and New Zealand.
[2]	Primarily includes markets in Asia.

Revenues - Additional Informati

Revenues - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018
Revenue from Contract with Customer [Abstract]
Returns liability	$ 35.5	$ 34.5	$ 45.4
Return asset	1.8	$ 1.6	$ 3.5
Amount of revenue recognized included within deferred revenue balance	$ 18.8

Segment Information - Schedule

Segment Information - Schedule of segment reporting information (Details) $ in Millions	3 Months Ended
	Aug. 31, 2019USD ($)segment	Aug. 31, 2018USD ($)	May 31, 2019USD ($)	May 31, 2017USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Revenues	$ 232.6	$ 218.4
Bad debt expense	1.6	1.4
Depreciation and amortization	22.5	19.2
Segment operating income (loss)	(87.4)	(83.8)
Segment assets	1,944.6	1,899.6
Goodwill	125	119.1	$ 125.2	$ 119.2
Expenditures for other non-current assets	33.1	45.7
Other non-current assets	$ 952.2	834.3
Children's Book Publishing and Distribution
Segment Reporting Information [Line Items]
Number of operating segments | segment	3
Revenues	$ 109.6	95.7
Bad debt expense	0.5	0.8
Segment assets	651.9	554.6
Goodwill	46.8	40.9
Expenditures for other non-current assets	14	10.8
Other non-current assets	$ 219.2	151.5
Education
Segment Reporting Information [Line Items]
Number of operating segments | segment	3
Revenues	$ 48.4	47.9
Bad debt expense	0	0
Segment assets	198.7	182.9
Goodwill	68.2	68.2
Expenditures for other non-current assets	4.6	5.1
Other non-current assets	120	106.9
Overhead
Segment Reporting Information [Line Items]
Revenues	0	0
Bad debt expense	0	0
Segment assets	808.4	884.2
Goodwill	0	0
Expenditures for other non-current assets	6.9	25.5
Other non-current assets	520	499.7
Total Domestic
Segment Reporting Information [Line Items]
Revenues	158	143.6
Bad debt expense	0.5	0.8
Segment assets	1,659	1,621.7
Goodwill	115	109.1
Expenditures for other non-current assets	25.5	41.4
Other non-current assets	$ 859.2	758.1
International
Segment Reporting Information [Line Items]
Number of operating segments | segment	3
Revenues	$ 74.6	74.8
Bad debt expense	1.1	0.6
Segment assets	285.6	277.9
Goodwill	10	10
Expenditures for other non-current assets	7.6	4.3
Other non-current assets	93	76.2
Operating Segments | Children's Book Publishing and Distribution
Segment Reporting Information [Line Items]
Depreciation and amortization	6.7	5.7
Segment operating income (loss)	(41.7)	(46)
Operating Segments | Education
Segment Reporting Information [Line Items]
Depreciation and amortization	3.1	2
Segment operating income (loss)	(13.4)	(14.9)
Operating Segments | Overhead
Segment Reporting Information [Line Items]
Depreciation and amortization	11	9.9
Segment operating income (loss)	(28.6)	(20.9)
Operating Segments | Total Domestic
Segment Reporting Information [Line Items]
Depreciation and amortization	20.8	17.6
Segment operating income (loss)	(83.7)	(81.8)
Operating Segments | International
Segment Reporting Information [Line Items]
Depreciation and amortization	1.7	1.6
Segment operating income (loss)	(3.7)	(2)
Expenditures to acquire long-lived assets	5.7	2.8
Long-lived assets	$ 64.5	$ 37

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018
Debt Instrument [Line Items]
Total Debt	$ 13	$ 7.3	$ 15.7
Line of Credit
Debt Instrument [Line Items]
Short-term debt		7.3	15.7
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt	$ 0	$ 0	$ 0

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	3 Months Ended
	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018	Jan. 05, 2017	Jun. 01, 2007
Debt (Details) [Line Items]
Standby letters of credit	$ 5,300,000
Debt	13,000,000	$ 7,300,000	$ 15,700,000
Lines of credit, short-term debt and current portion of long-term debt	$ 13,000,000	7,300,000	15,700,000
Loan Agreement
Debt (Details) [Line Items]
Borrowing capacity				$ 375,000,000	$ 425,000,000
Starter basket for permitted payments of dividends and other capital stock payments				$ 275,000,000	$ 75,000,000
Facility fee (percentage)	0.20%
Increase in borrwoing capacity available under accordion feature	$ 150,000,000
Standby letters of credit	$ 400,000
Loan Agreement | Minimum
Debt (Details) [Line Items]
Facility fee (percentage)	0.20%
Loan Agreement | Maximum
Debt (Details) [Line Items]
Facility fee (percentage)	0.40%
Loan Agreement | Federal Funds Rate
Debt (Details) [Line Items]
Variable rate (percentage)	0.50%
Loan Agreement | Eurodollar
Debt (Details) [Line Items]
Variable rate (percentage)	1.00%
Loan Agreement | Base Rate
Debt (Details) [Line Items]
Variable rate (percentage)	0.175%
Loan Agreement | Base Rate | Minimum
Debt (Details) [Line Items]
Variable rate (percentage)	0.175%
Loan Agreement | Base Rate | Maximum
Debt (Details) [Line Items]
Variable rate (percentage)	0.60%
Loan Agreement | London Interbank Offered Rate (LIBOR) | Minimum
Debt (Details) [Line Items]
Variable rate (percentage)	1.175%
Loan Agreement | London Interbank Offered Rate (LIBOR) | Maximum
Debt (Details) [Line Items]
Variable rate (percentage)	1.60%
Unsecured Debt | Domestic Line of Credit
Debt (Details) [Line Items]
Borrowing capacity	$ 25,000,000
Standby letters of credit	4,900,000
Short-term debt	0	$ 0	$ 0
Remaining borrowing capacity	$ 20,100,000
Expiration period (in days)	365 days
Secured Debt | Line of Credit
Debt (Details) [Line Items]
Borrowing capacity	$ 24,300,000
Expiration period (in days)	364 days
Debt	$ 13,000,000
Available credit	$ 11,300,000
Weighted average interest rate (percentage)	4.10%	4.10%	3.60%
Lines of credit, short-term debt and current portion of long-term debt		$ 7,300,000	$ 15,700,000
Revolving Credit Facility | 2007 Loan Agreement | Letter of Credit
Debt (Details) [Line Items]
Borrowing capacity	$ 50,000,000
Revolving Credit Facility | 2007 Loan Agreement | Swingline Facility
Debt (Details) [Line Items]
Borrowing capacity	$ 15,000,000

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	3 Months Ended
	Aug. 31, 2019USD ($)state	Aug. 31, 2018state
Loss Contingencies [Line Items]
Settlement | $	$ 1.5
Children's Book Publishing and Distribution
Loss Contingencies [Line Items]
Number of states in which sales tax remitted (in states) | state	43	11

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Earnings Per Share, Basic and Diluted [Abstract]
Net income (loss) attributable to Class A and Common Shares	$ (58.5)	$ (61.3)
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share	34.9	35
Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans	0	0
Earnings (loss) per share of Class A Stock and Common Stock:
Basic (in Dollars per share)	$ (1.68)	$ (1.75)
Diluted (in Dollars per share)	$ (1.68)	$ (1.75)

Earnings Per Share - Schedule_2

Earnings Per Share - Schedule of Options Outstanding (Details) - shares shares in Millions	Aug. 31, 2019	Aug. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding pursuant to stock-based compensation plans (in millions)	3	2.7

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2019USD ($)shares
Earnings Per Share [Abstract]
Antidilutive shares excluded from calculation of earnings per share | shares	1.8
Remaining authorized stock repurchase amount | $	$ 40.2

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Schedule of activity in goodwill (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	May 31, 2018	May 31, 2019	May 31, 2017
Goodwill [Roll Forward]
Gross goodwill				$ 164.8	$ 158.8
Accumulated impairment				$ (39.6)	$ (39.6)
Beginning balance	$ 125.2		$ 119.2
Additions	0	$ 0	6.3
Foreign currency translation	(0.2)	(0.1)	$ (0.3)
Ending balance	$ 125	$ 119.1

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	May 31, 2018	May 31, 2019	May 31, 2017
Goodwill and Other Intangibles (Details) [Line Items]
Additions	$ 0	$ 0	$ 6.3
Goodwill, Impaired, Accumulated Impairment Loss				$ 39.6	$ 39.6
Amortizable intangible assets acquired	0	0.5	4.5
Amortization expense	$ 0.8	0.7	$ 2.8
Useful life	5 years 4 months 24 days
U.K. Based Book Business [Member]
Goodwill and Other Intangibles (Details) [Line Items]
Amortizable intangible assets acquired		$ 0.6
Make Believe Ideas Limited (MBI)
Goodwill and Other Intangibles (Details) [Line Items]
Goodwill, Impaired, Accumulated Impairment Loss				$ 3.9

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Schedule of other intangible assets subject to amortization (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Aug. 31, 2019	Aug. 31, 2018	May 31, 2018	May 31, 2014	May 31, 2019
Finite-lived Intangible Assets [Roll Forward]
Beginning balance other intangibles subject to amortization	$ 12.2		$ 10.1
Additions	0	$ 0.5	4.5
Amortization expense	(0.8)	(0.7)	(2.8)
Foreign currency translation	(0.2)	0	$ (0.2)
Other	0	0		$ 0.6
Total other intangibles subject to amortization, net of accumulated amortization of $24.8, $24.1 and $22.5, respectively	11.2	9.9
Accumulated amortization of intangible assets	27.7	24.8			$ 26.9
Total other intangibles not subject to amortization	2.1	2.1			2.1
Total other intangibles	$ 13.3	$ 12			$ 14.3

Investments (Details)

Investments (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 30, 2019	Aug. 31, 2019	Aug. 31, 2018	May 31, 2019	Mar. 27, 2019	Mar. 26, 2019
Investments (Details) [Line Items]
Investments		$ 28.5	$ 32.3	$ 29.4
Income from equity method investments		1	2
Make Believe Ideas Limited (MBI)
Investments (Details) [Line Items]
Percentage of interests acquired					46.50%
Equity method ownership percentage					95.00%	48.50%
Financing and Production Company
Investments (Details) [Line Items]
Other equity percentage	4.60%
International
Investments (Details) [Line Items]
Equity method investment		22.5	32.3	23.4
Children's Book Publishing and Distribution | Other Investments
Investments (Details) [Line Items]
Investments		$ 6	$ 0	$ 6

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of net periodic costs (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Components of net periodic benefit (credit) cost:
Amortization of (gain) loss	$ 0.2	$ 0.2
Post-Retirement Benefits
Components of net periodic benefit (credit) cost:
Service cost	0	0
Interest cost	0.2	0.2
Expected return on assets	0	0
Net amortization of prior service credit	0	0
Amortization of (gain) loss	0	0
Net periodic benefit (credit) cost	0.2	0.2
United Kingdom | Pension Plans
Components of net periodic benefit (credit) cost:
Service cost	0	0
Interest cost	0.2	0.2
Expected return on assets	(0.2)	(0.2)
Net amortization of prior service credit	0	0
Amortization of (gain) loss	0.2	0.2
Net periodic benefit (credit) cost	$ 0.2	$ 0.2

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Nov. 30, 2018	Aug. 31, 2018
Pension Plans | United Kingdom
Employee Benefit Plans (Details) [Line Items]
Pension contributions	$ 0.3
Contributions expected in current fiscal year	$ 1.1
Post-Retirement Benefits
Employee Benefit Plans (Details) [Line Items]
Reduction in benefit obligation		$ 2.7
Reduction in AOCI			$ 2.7
Average remaining life expectancy	3 years 2 months 12 days

Leases (Narrative) (Details)

Leases (Narrative) (Details)	3 Months Ended
	Aug. 31, 2019
Minimum
Lessee, Lease, Description [Line Items]
Initial term	3 years
Maximum
Lessee, Lease, Description [Line Items]
Initial term	10 years

Leases (Assets and Liabilities)

Leases (Assets and Liabilities) (Details) $ in Millions	Aug. 31, 2019USD ($)
Leases [Abstract]
Operating lease right-of-use assets, net	$ 81.7
Finance Lease, Right-of-Use Asset	10.5
Total lease assets	92.2
Operating lease liabilities	24.1
Operating lease liabilities	61.1
Total operating lease liabilities	85.2
Finance Lease, Liability, Current	1.8
Finance Lease, Liability, Noncurrent	9.3
Total finance lease liabilities	11.1
Total lease liabilities	$ 96.3

Leases (Lease Expense) (Details

Leases (Lease Expense) (Details) $ in Millions	3 Months Ended
	Aug. 31, 2019USD ($)
Leases [Abstract]
Operating lease expense	$ 7.1
Finance Lease, Right-of-Use Asset, Amortization	0.4
Accretion of lease liabilities	0.1
Total lease expense	$ 7.6

Leases (Cash Flow Information)

Leases (Cash Flow Information) (Details) $ in Millions	3 Months Ended
	Aug. 31, 2019USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 6.9
Operating cash flows from finance leases	0.1
Financing cash flows from finance leases	$ 0.4

Leases (Lease Maturity) (Detail

Leases (Lease Maturity) (Details) $ in Millions	Aug. 31, 2019USD ($)
Operating Lease
Remainder of Fiscal 2020	$ 20.8
Fiscal 2021	22.1
Fiscal 2022	18.1
Fiscal 2023	12.1
Fiscal 2024	7
Fiscal 2025 and thereafter	10.8
Total lease payments	90.9
Less: interest	(5.7)
Total lease liabilities	85.2
Finance Lease
Remainder of Fiscal 2020	1.7
Fiscal 2021	2.2
Fiscal 2022	2.1
Fiscal 2023	1.9
Fiscal 2024	1.8
Fiscal 2025 and thereafter	2.9
Total lease payments	12.6
Less: interest	(1.5)
Total lease liabilities	$ 11.1

Leases (Weighted Average) (Deta

Leases (Weighted Average) (Details)	Aug. 31, 2019
Leases [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	4 years 3 months 18 days
Finance Lease, Weighted Average Remaining Lease Term	6 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent	4.00%
Finance Lease, Weighted Average Discount Rate, Percent	3.90%

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 1.5	$ 1.5
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	0	0.1
Stock option expense
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 0.6	$ 0.8
Restricted stock unit expense
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	0.8	0.6
Management stock purchase plan
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	0	0
Employee stock purchase plan
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 0.1	$ 0.1

Treasury Stock - Schedule of re

Treasury Stock - Schedule of repurchase of common stock (Details) - USD ($) $ in Millions	3 Months Ended	49 Months Ended
	Aug. 31, 2019	Aug. 31, 2019	Mar. 21, 2018	Jul. 22, 2015
Stockholders' Equity Attributable to Parent [Abstract]
Authorized amount of stock to be repurchased	$ 100	$ 100	$ 50	$ 50
Total current Board authorizations	(12.6)	(59.8)
Less repurchases made under these authorizations	$ 40.2	$ 40.2

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of AOCI Activity (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ (59.7)	$ (55.7)
Other comprehensive income (loss) before reclassifications	(2)	(3.1)
Amortization of gains and losses, net of tax	0.2	0.2
Amortization of prior service credit	0
Other comprehensive income (loss)	(1.8)	(2.9)
Ending balance	(61.5)	(58.6)
Amortization, Tax	0	0
Amortization of prior service credit, Tax	0
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(47.1)	(41.9)
Other comprehensive income (loss) before reclassifications	(2)	(3.1)
Other comprehensive income (loss)	(2)	(3.1)
Ending balance	(49.1)	(45)
Retirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(12.6)	(13.8)
Other comprehensive income (loss) before reclassifications	0	0
Amortization of gains and losses, net of tax	0.2	0.2
Amortization of prior service credit	0
Other comprehensive income (loss)	0.2	0.2
Ending balance	$ (12.4)	$ (13.6)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit	$ 0
Less: Tax effect	28.6	$ 22.1
Net income (loss) attributable to Scholastic Corporation	(58.5)	(61.3)
Retirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of prior service credit	0
Amount reclassified from Accumulated other comprehensive income (loss) | Retirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other Comprehensive (Income) Loss, Defined Benefit Plan, Prior Service Cost (Credit), Reclassification Adjustment from AOCI, before Tax	0	0
Amortization of unrecognized gain (loss)	0.2	0.2
Less: Tax effect	0	0
Net income (loss) attributable to Scholastic Corporation	$ (0.2)	$ (0.2)

Income Taxes and Other Taxes (D

Income Taxes and Other Taxes (Details) - state	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Income Tax And Non Income Tax Disclosure [Abstract]
Annualized effective income tax rate (percentage)	32.70%
Effective income tax rate (percentage)	32.80%
Children's Book Publishing and Distribution
Loss Contingencies [Line Items]
Number of states in which sales tax remitted (in states)	43	11

Derivatives and Hedging (Detail

Derivatives and Hedging (Details) - Not Designated as Hedging Instrument - Foreign Exchange Contract - USD ($) $ in Millions	3 Months Ended
	Aug. 31, 2019	Aug. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Derivative notional amount	$ 28	$ 30
Unrealized gain (loss)	$ (0.7)	$ (0.5)

Other Accrued Expenses - Schedu

Other Accrued Expenses - Schedule of accrued expenses (Details) - USD ($) $ in Millions	Aug. 31, 2019	May 31, 2019	Aug. 31, 2018
Schedule of accrued expenses [Abstract]
Accrued payroll, payroll taxes and benefits	$ 43.6	$ 41.2	$ 43.9
Accrued bonus and commissions	9.3	13.7	13.3
Returns liability	35.5	34.5	45.4
Accrued other taxes	19.4	29.3	21.3
Accrued advertising and promotions	10.2	9.6	9.7
Other accrued expenses	37.6	36.5	52.3
Total accrued expenses	$ 155.6	$ 164.8	$ 185.9

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Nov. 30, 2019$ / shares
Common Class A
Subsequent Event [Line Items]
Dividend declared per share (in Dollars per share)	$ 0.15
Common Stock
Subsequent Event [Line Items]
Dividend declared per share (in Dollars per share)	$ 0.15

Uncategorized Items - schl20190

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (46,500,000)
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(46,500,000)
Accounting Standards Update 2014-09 [Member] | Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (46,500,000)