Scholastic (SCHL) 10-Q 15 Dec 23 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	6 Months Ended
	Nov. 30, 2023 shares
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Nov. 30, 2023
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	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Class
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding	28,222,041
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		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Statement [Abstract]
Revenues	$ 562.6	$ 587.9	$ 791.1	$ 850.8
Operating costs and expenses:
Cost of goods sold	234.1	260.4	364.1	404.9
Selling, general and administrative expenses	213.1	213.6	397.3	376.4
Depreciation and amortization	14.1	13.8	27.5	27.5
Total operating costs and expenses	461.3	487.8	788.9	808.8
Operating income (loss)	101.3	100.1	2.2	42
Interest income (expense), net	0.4	0.7	1.8	0.9
Other components of net periodic benefit (cost)	(0.2)	0.1	(0.5)	0.1
Earnings (loss) before income taxes	101.5	100.9	3.5	43
Provision (benefit) for income taxes	24.6	25.5	0.8	13
Net income (loss)	76.9	75.4	2.7	30
Less: Net income (loss) attributable to noncontrolling interest	0	0.1	0	0.2
Net income (loss) attributable to Scholastic Corporation	$ 76.9	$ 75.3	$ 2.7	$ 29.8
Basic and diluted earnings (loss) per share of Class A and Common Stock
Basic (in Dollars per share)	$ 2.51	$ 2.17	$ 0.09	$ 0.86
Diluted (in Dollars per share)	$ 2.45	$ 2.12	$ 0.09	$ 0.84

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 76.9	$ 75.4	$ 2.7	$ 30
Other comprehensive income (loss), net:
Foreign currency translation adjustments	0.2	3	2	(6.6)
Pension and postretirement adjustments (net of tax)	0.1	(0.1)	0.3	(0.1)
Total other comprehensive income (loss), net	0.3	2.9	2.3	(6.7)
Comprehensive income (loss)	77.2	78.3	5	23.3
Less: Net income (loss) attributable to noncontrolling interest	0	0.1	0	0.2
Comprehensive income (loss) attributable to Scholastic Corporation	$ 77.2	$ 78.2	$ 5	$ 23.1

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Nov. 30, 2023	May 31, 2023	Nov. 30, 2022
Current Assets:
Cash and cash equivalents	$ 149.5	$ 224.5	$ 261.1
Accounts receivable, net	311.8	278	345.9
Inventories, net	302.3	334.5	380.4
Income tax receivable	11.6	8.9	17.4
Prepaid expenses and other current assets	65.4	47	77.5
Total current assets	840.6	892.9	1,082.3
Noncurrent Assets:
Property, plant and equipment, net	523.6	521.4	511.7
Prepublication costs, net	55.2	56.4	53.4
Operating lease right-of-use assets, net	97.3	85.7	75.1
Royalty advances, net	55.4	56.8	57.9
Goodwill	132.8	132.7	132
Noncurrent deferred income taxes	20.9	21	21.5
Other assets and deferred charges	107.7	99.8	100.1
Total noncurrent assets	992.9	973.8	951.7
Total assets	1,833.5	1,866.7	2,034
Current Liabilities:
Lines of credit and current portion of long-term debt	6.3	6	4.8
Accounts payable	159.5	170.9	212.4
Accrued royalties	57.5	52.8	69.4
Deferred revenue	225	169.1	232.7
Other accrued expenses	162.5	168.9	180.4
Accrued income taxes	2.5	13.4	2.1
Operating lease liabilities	23.4	21.2	22.9
Total current liabilities	636.7	602.3	724.7
Noncurrent Liabilities:
Total long-term debt	0	0	0
Operating lease liabilities	84.1	73.8	61.9
Other noncurrent liabilities	33.6	26.1	29.3
Total noncurrent liabilities	117.7	99.9	91.2
Commitments and Contingencies (see Note 5)	0	0	0
Stockholders’ Equity:
Preferred Stock, $1.00 par value: Authorized, 2.0 shares; Issued and Outstanding, none	0	0	0
Additional paid-in capital	630.8	632.2	629
Accumulated other comprehensive income (loss)	(53.5)	(55.8)	(52.1)
Retained earnings	1,026	1,035.6	992.4
Treasury stock, at cost: 14.7, 12.9 and 10.6 shares, respectively	(524.6)	(449.5)	(353.2)
Total stockholders’ equity of Scholastic Corporation	1,079.1	1,162.9	1,216.5
Noncontrolling interest	0	1.6	1.6
Total stockholders’ equity	1,079.1	1,164.5	1,218.1
Total liabilities and stockholders’ equity	1,833.5	1,866.7	2,034
Common Class A
Stockholders’ Equity:
Common Stock, value	0	0	0
Common Class
Stockholders’ Equity:
Common Stock, value	$ 0.4	$ 0.4	$ 0.4

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - $ / shares	Nov. 30, 2023	May 31, 2023	Nov. 30, 2022
Preferred stock at par value per share (in dollars per share)	$ 1	$ 1	$ 1
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000	2,000,000
Preferred stock, shares issued (in shares)	0	0	0
Preferred stock, shares outstanding (in shares)	0	0	0
Common Stock, par value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	70,000,000	70,000,000	70,000,000
Common stock, shares issued (in shares)	42,900,000	42,900,000	42,900,000
Common stock, shares outstanding (in shares)	28,200,000	30,000,000	32,400,000
Treasury stock (in shares)	14,700,000	12,900,000	10,600,000
Common Class A
Common Stock, par value per share (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	4,000,000	4,000,000	4,000,000
Common stock, shares issued (in shares)	1,700,000	1,700,000	1,700,000
Common stock, shares outstanding (in shares)	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 Class	Common Class Common Class A	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Treasury Stock At Cost	Total Stockholders' Equity of Scholastic Corporation	Noncontrolling Interest
Beginning balance at May. 31, 2022	$ 1,218.4	$ 0.4	$ 0	$ 627	$ (45.4)	$ 976.5	$ (341.5)	$ 1,217	$ 1.4
Balance (in shares) at Aug. 31, 2022		32.7	1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(45.4)					(45.5)		(45.5)	0.1
Foreign currency translation adjustments	(9.6)				(9.6)			(9.6)
Pension and post-retirement adjustments (net of tax of $0.0)	0				0			0
Stock-based compensation	1.7			1.7				1.7
Proceeds pursuant to stock-based compensation plans	11.6			11.6				11.6
Purchases of treasury stock at cost (in shares)		(0.1)
Purchases of treasury stock at cost	(5.1)						(5.1)	(5.1)
Treasury stock issued pursuant to equity-based plans (in shares)		0.3
Treasury stock issued pursuant to equity-based plans	1.6			(10.8)			12.4	1.6
Dividends	(6.9)					(6.9)		(6.9)
Ending Balance at Aug. 31, 2022	1,166.3	$ 0.4	$ 0	629.5	(55)	924.1	(334.2)	1,164.8	1.5
Balance (in shares) at May. 31, 2022		32.5	1.7
Beginning balance at May. 31, 2022	1,218.4	$ 0.4	$ 0	627	(45.4)	976.5	(341.5)	1,217	1.4
Balance (in shares) at Nov. 30, 2022		32.4	1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	30
Foreign currency translation adjustments	(6.6)
Ending Balance at Nov. 30, 2022	1,218.1	$ 0.4	$ 0	629	(52.1)	992.4	(353.2)	1,216.5	1.6
Balance (in shares) at May. 31, 2022		32.5	1.7
Beginning balance at Aug. 31, 2022	1,166.3	$ 0.4	$ 0	629.5	(55)	924.1	(334.2)	1,164.8	1.5
Balance (in shares) at Nov. 30, 2022		32.4	1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	75.4					75.3		75.3	0.1
Foreign currency translation adjustments	3				3			3
Pension and post-retirement adjustments (net of tax of $0.0)	0.1				0.1			0.1
Stock-based compensation	4.2			4.2				4.2
Proceeds pursuant to stock-based compensation plans	1.5			1.5				1.5
Purchases of treasury stock at cost (in shares)		(0.6)
Purchases of treasury stock at cost	(26)						(26)	(26)
Treasury stock issued pursuant to equity-based plans (in shares)		0.3
Treasury stock issued pursuant to equity-based plans	0.8			(6.2)			7	0.8
Dividends	(7)					(7)		(7)
Ending Balance at Nov. 30, 2022	1,218.1	$ 0.4	$ 0	629	(52.1)	992.4	(353.2)	1,216.5	1.6
Balance (in shares) at Aug. 31, 2022		32.7	1.7
Beginning balance at May. 31, 2023	1,164.5	$ 0.4	$ 0	632.2	(55.8)	1,035.6	(449.5)	1,162.9	1.6
Balance (in shares) at Aug. 31, 2023		29.3	1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(74.2)					(74.2)		(74.2)
Foreign currency translation adjustments	1.8				1.8			1.8
Pension and post-retirement adjustments (net of tax of $0.0)	0.2				0.2			0.2
Stock-based compensation	2.3			2.3				2.3
Proceeds pursuant to stock-based compensation plans	3			3				3
Purchases of treasury stock at cost (in shares)		(0.8)
Purchases of treasury stock at cost	(36.2)						(36.2)	(36.2)
Treasury stock issued pursuant to equity-based plans (in shares)		0.1
Treasury stock issued pursuant to equity-based plans	1.6			(4.3)			5.9	1.6
Dividends	(6.3)					(6.3)		(6.3)
Other (noncontrolling interest)	(2.1)			(0.5)				(0.5)	(1.6)
Ending Balance at Aug. 31, 2023	1,054.6	$ 0.4	$ 0	632.7	(53.8)	955.1	(479.8)	1,054.6	0
Balance (in shares) at May. 31, 2023		30	1.7
Beginning balance at May. 31, 2023	1,164.5	$ 0.4	$ 0	632.2	(55.8)	1,035.6	(449.5)	1,162.9	1.6
Balance (in shares) at Nov. 30, 2023		28.2	1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2.7
Foreign currency translation adjustments	2
Purchases of treasury stock at cost	(88.5)
Ending Balance at Nov. 30, 2023	1,079.1	$ 0.4	$ 0	630.8	(53.5)	1,026	(524.6)	1,079.1	0
Balance (in shares) at May. 31, 2023		30	1.7
Beginning balance at Aug. 31, 2023	1,054.6	$ 0.4	$ 0	632.7	(53.8)	955.1	(479.8)	1,054.6	0
Balance (in shares) at Nov. 30, 2023		28.2	1.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	76.9					76.9		76.9
Foreign currency translation adjustments	0.2				0.2			0.2
Pension and post-retirement adjustments (net of tax of $0.0)	(0.1)				(0.1)			(0.1)
Stock-based compensation	4.1			4.1				4.1
Proceeds pursuant to stock-based compensation plans	0.6			0.6				0.6
Purchases of treasury stock at cost (in shares)		(1.4)
Purchases of treasury stock at cost	(52.3)						(52.3)	(52.3)
Treasury stock issued pursuant to equity-based plans (in shares)		0.3
Treasury stock issued pursuant to equity-based plans	0.9			(6.6)			7.5	0.9
Dividends	(6)					(6)		(6)
Ending Balance at Nov. 30, 2023	$ 1,079.1	$ 0.4	$ 0	$ 630.8	$ (53.5)	$ 1,026	$ (524.6)	$ 1,079.1	$ 0
Balance (in shares) at Aug. 31, 2023		29.3	1.7

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022
Pension and postretirement adjustments, tax portion	$ 0	$ 0.1	$ 0	$ 0.1
Common Class A
Dividends declared per class A and common share (in Dollars per share)	$ 0.20			$ 0.20
Common Class
Dividends declared per class A and common share (in Dollars per share)		$ 0.20		$ 0.20

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Cash flows - operating activities:
Net income (loss) attributable to Scholastic Corporation	$ 2.7	$ 29.8
Adjustments to reconcile Net income (loss) to net cash provided by (used in) operating activities:
Provision for losses on accounts receivable	3.1	1.3
Provision for losses on inventory	11.8	9.6
Provision for losses on royalty advances	1.5	1.8
Amortization of prepublication costs	13.3	12.4
Depreciation and amortization	32.1	32.2
Amortization of pension and postretirement plans	0.2	(0.2)
Deferred income taxes	0.3	(0.4)
Stock-based compensation	6.4	5.9
Income from equity-method investments	0.3	1.3
Changes in assets and liabilities, net of amounts acquired:
Accounts receivable	(36.3)	(50.4)
Inventories	21.2	(112)
Prepaid expenses and other current assets	(18.3)	(8.9)
Income tax receivable	(2.7)	9.3
Royalty advances	0	(10.8)
Accounts payable	(11.3)	51
Accrued income taxes	(10.8)	(0.4)
Accrued royalties	4.6	8.9
Deferred revenue	55.8	60.6
Other accrued expenses	(9.3)	(13.3)
Other, net	7.6	(3.8)
Net cash provided by (used in) operating activities	71.6	21.3
Cash flows - investing activities:
Prepublication expenditures	(11.7)	(11)
Additions to property, plant and equipment	(29.1)	(24.1)
Other investment and acquisition-related payments	(8.3)	(10.7)
Net cash provided by (used in) investing activities	(49.1)	(45.8)
Cash flows - financing activities:
Borrowings under lines of credit, credit agreement and revolving loan	27.1	2
Repayments of lines of credit, credit agreement and revolving loan	(26.8)	(3.5)
Repayment of capital lease obligations	(1.2)	(1.1)
Reacquisition of common stock	(90.2)	(29.7)
Proceeds pursuant to stock-based compensation plans	6.1	15.3
Payment of dividends	(12.8)	(12)
Net cash provided by (used in) financing activities	(97.8)	(29)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	0.3	(2)
Net increase (decrease) in cash and cash equivalents	(75)	(55.5)
Cash and cash equivalents at beginning of period	224.5	316.6
Cash and cash equivalents at end of period	$ 149.5	$ 261.1

Basis of Presentation

Basis of Presentation	6 Months Ended
	Nov. 30, 2023
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 2024 relate to the twelve-month period ending May 31, 2024. Noncontrolling Interest On June 1, 2023, the Company acquired the remaining shares of Make Believe Ideas Limited ("MBI"), a UK-based children's book publishing company, which represented a 5.0% noncontrolling interest, increasing the Company's total ownership from 95.0% to 100%. Prior to June 1, 2023, the founder and chief executive officer of MBI retained a 5.0% noncontrolling ownership interest in MBI. The Company fully consolidated MBI as of the acquisition date and the 5.0% noncontrolling interest was classified within stockholder's equity. 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, 2023. 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 Solutions 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. Education channel revenues are generally higher in the fourth quarter. Trade sales can vary throughout the year due to varying release dates of published titles. 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 credit losses • 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 contractual performance obligations New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures.” This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This ASU will be effective for the Company's fiscal year 2025, and interim periods starting in fiscal year 2026. Early adoption is permitted. The amendments in this ASU are to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently assessing the impact of the disclosure requirements on its consolidated financial statements. Refer to the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2023 for more information on current applicable authoritative guidance and its impact on the Company's financial statements.

Revenues

Revenues	6 Months Ended
	Nov. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues	REVENUES Disaggregated Revenue Data The following table presents the Company’s segment revenues disaggregated by region and domestic channel: Three months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Book Clubs - U.S. $ 32.4 $ 57.6 $ 35.0 $ 63.9 Book Fairs - U.S. 242.1 240.8 269.4 269.1 Trade - U.S. 101.0 107.9 163.5 184.1 Trade - International (1) 17.3 12.0 27.7 25.9 Total Children's Book Publishing and Distribution $ 392.8 $ 418.3 $ 495.6 $ 543.0 Education Solutions - U.S. $ 81.0 $ 80.0 $ 147.0 $ 153.2 Total Education Solutions $ 81.0 $ 80.0 $ 147.0 $ 153.2 International - Major Markets (2) $ 75.4 $ 77.1 $ 123.2 $ 130.5 International - Other Markets (3) 11.1 12.5 20.5 24.1 Total International $ 86.5 $ 89.6 $ 143.7 $ 154.6 Total (4) $ 560.3 $ 587.9 $ 786.3 $ 850.8 (1) Primarily includes foreign rights and certain product sales in the UK. (2) Includes Canada, UK, Australia and New Zealand. (3) Primarily includes markets in Asia. (4) Total revenues of $562.6 and $791.1 for the three and six months ended November 30, 2023, respectively, included rental income of $2.3 and $4.8, respectively, related to leased space in the Company's headquarters which was not allocated to a segment. Rental income of $1.6 and $3.1 for the three and six months ended November 30, 2022, respectively, was recognized as a reduction to Selling, general and administrative expenses. Estimated Returns A liability for expected returns of $37.7, $34.9, and $43.9 is recorded within Other accrued expenses as of November 30, 2023, May 31, 2023, and November 30, 2022, respectively. In addition, a return asset of $5.4, $4.7, and $6.1 is recorded within Prepaid expenses and other current assets as of November 30, 2023, May 31, 2023, and November 30, 2022, respectively, for the recoverable cost of product estimated to be returned by customers. Contract Liabilities The following table presents further detail regarding the Company's contract liabilities as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 Book fairs incentive credits $ 114.1 $ 110.8 $ 107.6 Magazines+ subscriptions 53.3 5.0 55.5 U.S. digital subscriptions 24.6 22.8 22.3 U.S. education-related (1) 10.6 9.8 13.4 Media-related 0.2 0.0 10.6 Stored value programs 24.1 12.4 13.8 Other (2) 7.6 8.3 9.5 Total contract liabilities $ 234.5 $ 169.1 $ 232.7 (1) Primarily includes contract liabilities related to contracts with school districts and professional services. (2) Primarily includes contract liabilities related to various international products and services. The Company's contract liabilities consist of advance billings and payments received from customers in excess of revenue recognized and revenue allocated to outstanding book fairs incentive credits. As of November 30, 2023, contract liabilities of $225.0 are recorded within Deferred revenue on the Company's Condensed Consolidated Balance Sheet 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. The remaining $9.5 of contract liabilities as of November 30, 2023 are recorded within Other noncurrent liabilities on the Company's Condensed Consolidated Balance Sheet as the associated performance obligations are expected to be satisfied, and related revenue recognized, in excess of one year. Contract liabilities of $169.1 and $232.7 as of May 31, 2023 and November 30, 2022, respectively, are recorded within Deferred revenue on the Company's Condensed Consolidated Balance Sheets. The Company recognized revenue which was included in the opening Deferred revenue balance in the amount of $48.4 and $80.7 for the three and six months ended November 30, 2023, respectively, and $49.5 and $80.3 for the three and six months ended November 30, 2022, respectively. Allowance for Credit Losses The Company recognizes an allowance for credit losses on customer receivables that are expected to be incurred over the lifetime of the receivable. Reserves for estimated credit losses are established at the time of sale and are based on relevant information about past events, current conditions, and supportable forecasts impacting its ultimate collectability, including specific reserves on a customer-by-customer basis, creditworthiness of the Company’s customers and prior collection experience. The Company reviews new information as it becomes available and makes adjustments to the reserves accordingly. At the time the Company determines that a receivable balance, or any portion thereof, is deemed to be permanently uncollectible, the balance is then written off. The following table presents the change in the allowance for credit losses, which is included in Accounts Receivable, net on the Condensed Consolidated Balance Sheets: Allowance for Credit Losses Balance as of June 1, 2023 $ 16.7 Provision (benefit) 0.6 Write-offs and other (0.2) Balance as of August 31, 2023 $ 17.1 Provision (benefit) 2.5 Write-offs and other (3.4) Balance as of November 30, 2023 $ 16.2

Segment Information

Segment Information	6 Months Ended
	Nov. 30, 2023
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION The Company categorizes its businesses into three reportable segments: Children’s Book Publishing and Distribution, Education Solutions 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 primarily in the United States through its school reading events business, which includes the book clubs and book fairs channels, and through the trade channel. This segment is comprised of two operating segments. • Education Solutions 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 online reference and non-fiction products for grades pre-kindergarten to 12 in the United States. This segment is comprised of one operating segment. • International includes the publication and distribution of products and services outside the United States by the Company’s international operations and its export businesses. This segment is comprised of three operating segments. The following table sets forth the Company's revenue and operating income (loss) by segment for the periods indicated: Three months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Revenues Children's Book Publishing and Distribution $ 392.8 $ 418.3 $ 495.6 $ 543.0 Education Solutions 81.0 80.0 147.0 153.2 International 86.5 89.6 143.7 154.6 Total (1) $ 560.3 $ 587.9 $ 786.3 $ 850.8 Operating income (loss) Children's Book Publishing and Distribution $ 110.8 $ 113.2 $ 69.3 $ 83.1 Education Solutions 5.8 7.0 (12.9) 2.7 International 8.0 6.7 (0.2) 3.2 Overhead (2) (23.3) (26.8) (54.0) (47.0) Total $ 101.3 $ 100.1 $ 2.2 $ 42.0 (1) Total revenues of $562.6 and $791.1 for the three and six months ended November 30, 2023, respectively, included rental income of $2.3 and $4.8, respectively, related to leased space in the Company's headquarters which was not allocated to a segment. Rental income of $1.6 and $3.1 for the three and six months ended November 30, 2022, respectively, was recognized as a reduction to Selling, general and administrative expenses. (2) Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets.

Debt

Debt	6 Months Ended
	Nov. 30, 2023
Debt Disclosure [Abstract]
Debt	DEBT The following table summarizes the carrying value of the Company's debt as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 US Revolving Credit Agreement $ — $ — $ — Unsecured lines of credit 6.3 6.0 4.8 Total debt $ 6.3 $ 6.0 $ 4.8 Less lines of credit, short-term debt and current portion of long-term debt (6.3) (6.0) (4.8) Total long-term debt $ — $ — $ — The Company's debt obligations as of November 30, 2023 have maturities of one year or less. US Credit Agreement On October 27, 2021, Scholastic Corporation and its principal operating subsidiary, Scholastic Inc., entered into an amended and restated 5-year credit agreement with a syndicate of banks and Bank of America, N.A., as administrative agent (the “Credit Agreement”). The Credit Agreement provides for a $300.0 unsecured revolving credit facility and allows the Company to borrow, repay or prepay and reborrow at any time prior to the October 27, 2026 maturity date. The Credit Agreement also provides an unlimited basket for permitted payments of dividends and other distributions in respect of capital stock so long as the Corporation’s pro forma Consolidated Net Leverage Ratio, as defined, is not in excess of 2.75:1. On February 28, 2023, the Company entered into the First and Second Amendments to the Credit Agreement with the lenders from time to time party thereto, Truist Bank and Wells Fargo Bank, National Association, as co-syndication agents and Bank of America, N.A., as administrative agent (collectively the "Amendments"). The Amendments, among other things, (i) adjusted the credit spread adjustment for SOFR (the secured overnight financing rate as administered by the Federal Reserve Bank of New York) to 0.10% (10 basis points) and (ii) transitioned the reference rate under the Credit Agreement for borrowings from LIBOR (the London interbank offered rate) to SOFR, together with various other conforming changes to accommodate such replacement. Under the Credit 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 Credit 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 plus 1.00% plus, in each case, an applicable margin ranging from 0.35% to 0.75%, as determined by the Company’s prevailing Consolidated Leverage Ratio (as defined in the Credit Agreement); - or - • a Eurodollar Rate equal to SOFR (Daily Simple or Term), plus a SOFR adjustment of 0.10% per annum and an applicable margin ranging from 1.35% to 1.75%, as determined by the Company’s prevailing Consolidated Leverage Ratio. As of November 30, 2023, the applicable margin on Base Rate Advances was 0.35% and the applicable margin on Eurodollar Advances was 1.35%, both based on the Company’s prevailing Consolidated Leverage Ratio. The Credit Agreement provides for payment of a commitment fee in respect of the aggregate unused amount of revolving credit commitments ranging from 0.20% per annum to 0.30% per annum based upon the Corporation’s then prevailing Consolidated Leverage Ratio. As of November 30, 2023, the commitment 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 Credit 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 November 30, 2023, the Company had no outstanding borrowings under the Credit Agreement. The Credit Agreement contains certain financial covenants related to leverage and interest coverage ratios (as defined in the Credit Agreement), limitations on the amount of dividends and other distributions, and other limitations on fundamental changes to the Company or its business. The Company was in compliance with required covenants for all periods presented. At November 30, 2023, the Company had open standby letters of credit totaling $3.8 issued under certain credit lines, including $0.4 under the Credit Agreement and $3.4 under the domestic credit lines discussed below. Lines of Credit As of November 30, 2023, the Company’s domestic credit lines available under unsecured money market bid rate credit lines totaled $10.0. There were no outstanding borrowings under these credit lines as of November 30, 2023, May 31, 2023 and November 30, 2022. As of November 30, 2023, availability under these unsecured money market bid rate credit lines totaled $6.6, excluding commitments of $3.4. 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 November 30, 2023, the Company had various local currency international credit lines totaling $30.9 underwritten by banks primarily in the United States, Canada and the United Kingdom. Outstanding borrowings under these facilities were $6.3 at November 30, 2023 at a weighted average interest rate of 3.9%, compared to outstanding borrowings of

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Nov. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Matters 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 has occurred 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. The Company expects to receive additional recoveries from its insurance programs related to an intellectual property legal settlement accrued during fiscal 2021, however, it is premature to determine with any level of probability or accuracy the amount of those recoveries at this time.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Nov. 30, 2023
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 Six months ended November 30, November 30, 2023 2022 2023 2022 Net income (loss) attributable to Class A and Common Stockholders $ 76.9 $ 74.8 $ 2.7 $ 29.6 Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) 30.7 34.5 31.2 34.4 Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) 0.7 0.9 0.8 1.0 Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) 31.4 35.4 32.0 35.4 Earnings (loss) per share of Class A Stock and Common Stock: Basic $ 2.51 $ 2.17 $ 0.09 $ 0.86 Diluted $ 2.45 $ 2.12 $ 0.09 $ 0.84 Anti-dilutive shares pursuant to stock-based compensation plans 1.1 1.3 0.7 0.8 The following table sets forth options outstanding pursuant to stock-based compensation plans as of the dates indicated: November 30, 2023 November 30, 2022 Options outstanding pursuant to stock-based compensation plans (in millions) 3.1 3.4 As of November 30, 2023, $33.8 remained available for future purchases of common shares under the repurchase authorization of the Board of Directors (the "Board") in effect on that date. See Note 12, Treasury Stock, for a more complete description of the Company’s share buy-back program and Note 18, "Subsequent Events", for additional Board authorization for Common share repurchases.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	6 Months Ended
	Nov. 30, 2023
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: November 30, 2023 May 31, 2023 November 30, 2022 Gross beginning balance $ 172.3 $ 164.9 $ 164.9 Accumulated impairment (39.6) (39.6) (39.6) Beginning balance $ 132.7 $ 125.3 $ 125.3 Additions — 7.6 7.0 Foreign currency translation 0.1 (0.2) (0.3) Ending balance $ 132.8 $ 132.7 $ 132.0 In fiscal 2023, the Company acquired Learning Ovations, Inc, a U.S.-based education technology business, which resulted in the recognition of $7.6 of Goodwill included in the Education Solutions segment. Refer to Note 7, Acquisitions, for further details regarding the acquisition. 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 Financial Statements for the periods indicated: November 30, 2023 May 31, 2023 November 30, 2022 Beginning balance - Other intangibles subject to amortization $ 7.8 $ 6.0 $ 6.0 Additions 5.8 4.1 4.1 Amortization expense (1.2) (2.2) (1.1) Foreign currency translation 0.0 (0.1) (0.1) Total other intangibles subject to amortization, net of accumulated amortization of $37.7, $36.5 and $35.4, respectively $ 12.4 $ 7.8 $ 8.9 Total other intangibles not subject to amortization $ 2.1 $ 2.1 $ 2.1 Total other intangibles $ 14.5 $ 9.9 $ 11.0 During the second quarter of fiscal 2024, the Company acquired certain amortizable intangible assets related to educational programs for $5.8. These intangible assets are amortized over the estimated useful life of 8 years. In fiscal 2023, the Company acquired Learning Ovations, Inc., a U.S.-based education technology business, which resulted in the recognition of $4.1 of amortizable intangible assets. These intangible assets are amortized over the estimated useful life of 7 years. Intangible assets with indefinite lives consist principally of trademark and trade name rights. Intangible assets with definite lives consist principally of customer lists, intellectual property, trade names and other agreements. Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is approximately 6.1 years.

Acquisitions

Acquisitions	6 Months Ended
	Nov. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	7. ACQUISITIONS On June 1, 2023, the Company acquired the remaining shares of Make Believe Ideas Limited, a UK-based children's book publishing company for $2.1, increasing the Company's total ownership from 95.0% to 100%. The acquisition was accounted for as an equity transaction as there was no change in control. The carrying value of the noncontrolling interest at the acquisition date was $1.6. The difference between the fair value of consideration paid and the carrying value was recognized as an adjustment to Additional paid-in capital of $0.5. On September 1, 2022, the Company acquired 100% of the share capital of Learning Ovations, Inc., a U.S.-based education technology business and developer of a literacy assessment and instructional system, for $11.1, net of cash acquired. The Company accounted for the acquisition as a business combination under the acquisition method of accounting. Fair values were assigned to the assets and liabilities acquired, including cash, receivables, and technology/know-how. The receivables acquired had a fair value of $0.1 and have been collected as of November 30, 2023. The Company utilized internally-developed discounted cash flow forecasts to determine the fair value of the technology/know-how using a discount rate of 17.5% to account for the relative risks of the estimated future cash flows. The Company classified this as a Level 3 fair value measurement due to the use of these significant unobservable inputs. The fair values of the net assets were $3.6, which included $4.1 of amortizable intangible assets attributable to the technology/know-how and a $0.6 deferred tax liability. This acquisition resulted in $7.6 of goodwill that was assigned to the Company's Education Solutions segment and was not deductible for tax purposes. The results of operations of this business subsequent to the acquisition are included in the Education Solutions segment. The transaction was not determined to be material to the Company's results and therefore pro forma financial information has not been presented.

Investments

Investments	6 Months Ended
	Nov. 30, 2023
Equity Method And Cost Method Investments [Abstract]
Investment	INVESTMENTS Investments are included in Other assets and deferred charges on the Condensed Consolidated Balance Sheets. The following table summarizes the Company’s investments as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 Segment Equity method investments $ 32.4 $ 31.6 $ 31.0 International Other equity investments 6.0 6.0 6.0 Children's Book Publishing & Distribution Total Investments $ 38.4 $ 37.6 $ 37.0 The Company’s 26.2% equity interest in a children’s book publishing business located in the UK is accounted for using the equity method of accounting. Equity method income from this investment is reported in the International segment. The Company has a 4.6% ownership interest in a financing and production company that makes film, television, and digital programming designed for the youth market. This equity investment does not have a readily determinable fair value and the Company has elected to apply the measurement alternative and report this investment at cost, less impairment on the Company's Condensed Consolidated Balance Sheets. There have been no impairments or adjustments to the carrying value of this investment. Income from equity investments is reported in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and totaled $0.1 and $0.3 for the three and six months ended November 30, 2023, respectively, and $1.2 and $1.3 for the three and six months ended November 30, 2022, respectively.

Employee Benefit Plans

Employee Benefit Plans	6 Months Ended
	Nov. 30, 2023
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 “US Postretirement Benefits”), for the periods indicated: UK Pension Plan US Postretirement Benefits Three months ended Three months ended November 30, November 30, 2023 2022 2023 2022 Components of net periodic benefit cost: Interest cost $ 0.3 $ 0.2 $ 0.1 $ 0.1 Expected return on assets (0.3) (0.3) — — Amortization of prior service (credit) loss 0.0 0.0 (0.2) (0.2) Amortization of net actuarial (gain) loss 0.3 0.1 0.0 — Total $ 0.3 $ 0.0 $ (0.1) $ (0.1) UK Pension Plan US Postretirement Benefits Six months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Components of net periodic benefit cost: Interest cost $ 0.7 $ 0.5 $ 0.2 $ 0.2 Expected return on assets (0.6) (0.6) — — Amortization of prior service (credit) loss 0.0 0.0 (0.4) (0.4) Amortization of net actuarial (gain) loss 0.6 0.2 0.0 — Total $ 0.7 $ 0.1 $ (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 six months ended November 30, 2023, the Company contributed $0.6 to the UK Pension Plan. The Company expects, based on actuarial calculations, to contribute cash of approximately $1.2 to the UK Pension Plan for the fiscal year ending May 31, 2024.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Nov. 30, 2023
Share-Based Payment Arrangement [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 Six months ended November 30, November 30, 2023 2022 2023 2022 Stock option expense $ 2.4 $ 2.4 $ 3.0 $ 3.0 Restricted stock unit expense 1.4 1.3 2.9 2.3 Management stock purchase plan 0.3 0.4 0.3 0.4 Employee stock purchase plan 0.0 0.1 0.2 0.2 Total stock-based compensation expense $ 4.1 $ 4.2 $ 6.4 $ 5.9 The following table sets forth Common Stock issued pursuant to stock-based compensation plans for the periods indicated: Three months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Common Stock issued pursuant to stock-based compensation plans (in millions) 0.3 0.3 0.4 0.6

Treasury Stock

Treasury Stock	6 Months Ended
	Nov. 30, 2023
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 privately negotiated transactions. The table below represents the Board authorization at the dates indicated: Authorization Amount March 2023 $ 50.0 July 2023 100.0 Total current Board authorizations $ 150.0 Less repurchases made under these authorizations $ (116.2) Remaining Board authorization at November 30, 2023 $ 33.8 Remaining Board authorization at November 30, 2023 represents the amount remaining under the current $100.0 Board authorization for Common share repurchases announced on July 19, 2023, which is available for further repurchases, from time to time as conditions allow, on the open market or through privately negotiated transactions. See Note 18, "Subsequent Events", for additional Board authorization for Common share repurchases. Repurchases of the Company's Common Stock were $52.3 and $88.5, including excise tax on share repurchases of $0.4 and $0.7 , during the three and six months ende d November 30, 2023, respectively. The Company's repurchase program may be suspended at any time without prior notice.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Nov. 30, 2023
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: Three months ended November 30, 2023 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at September 1, 2023 $ (48.2) $ (5.6) $ (53.8) Other comprehensive income (loss) before reclassifications 0.2 — 0.2 Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial loss (net of tax of $0.0) — 0.3 0.3 Amortization of prior service (credit) cost (net of tax of $0.0) — (0.2) (0.2) Other comprehensive income (loss) 0.2 0.1 0.3 Ending balance at November 30, 2023 $ (48.0) $ (5.5) $ (53.5) Three months ended November 30, 2022 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at September 1, 2022 $ (54.2) $ (0.8) $ (55.0) Other comprehensive income (loss) before reclassifications 3.0 — 3.0 Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial loss (net of tax of $0.0) — 0.1 0.1 Amortization of prior service (credit) cost (net of tax of $0.0) — (0.2) (0.2) Other comprehensive income (loss) 3.0 (0.1) 2.9 Ending balance at November 30, 2022 $ (51.2) $ (0.9) $ (52.1) Six months ended November 30, 2023 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2023 $ (50.0) $ (5.8) $ (55.8) Other comprehensive income (loss) before reclassifications 2.0 — 2.0 Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial (gain) loss (net of tax of $0.0) — 0.6 0.6 Amortization of prior service (credit) cost (net of tax of $0.1) — (0.3) (0.3) Other comprehensive income (loss) 2.0 0.3 2.3 Ending balance at November 30, 2023 $ (48.0) $ (5.5) $ (53.5) Six months ended November 30, 2022 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2022 $ (44.6) $ (0.8) $ (45.4) Other comprehensive income (loss) before reclassifications (6.6) — (6.6) Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial (gain) loss (net of tax of $0.0) — 0.2 0.2 Amortization of prior service (credit) cost (net of tax of $0.1) — (0.3) (0.3) Other comprehensive income (loss) (6.6) (0.1) (6.7) Ending balance at November 30, 2022 $ (51.2) $ (0.9) $ (52.1) The following table presents the impact on earnings of reclassifications out of Accumulated other comprehensive income (loss) for the periods indicated: Three months ended Six months ended Condensed Consolidated Statements of Operations line item November 30, November 30, November 30, November 30, 2023 2022 2023 2022 Employee benefit plans: Amortization of net actuarial loss $ 0.3 $ 0.1 $ 0.6 $ 0.2 Other components of net periodic benefit (cost) Amortization of prior service (credit) loss (0.2) (0.2) (0.4) (0.4) Other components of net periodic benefit (cost) Less: Tax effect 0.0 0.0 0.1 0.1 Provision (benefit) for income taxes Total cost, net of tax $ 0.1 $ (0.1) $ 0.3 $ (0.1)

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Nov. 30, 2023
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 and long term debt. 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. Non-financial assets for which the Company employs fair value measures on a non-recurring basis include: • Long-lived assets, including held for sale • Operating lease right-of-use (ROU) assets • Investments • Assets acquired in a business combination • Impairment assessment of goodwill and intangible assets 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, investments and prepublication assets, the Company assessed future expected cash flows attributable to these assets. See Note 9, Investments, for a more complete description of the fair value measurements employed. For the fair value measurements employed by the Company for certain acquired intangible assets, the Company utilized internally-developed discounted cash flow forecasts. See Note 7, Acquisitions, for further details regarding the acquired assets and fair value measurements employed.

Income Taxes and Other Taxes

Income Taxes and Other Taxes	6 Months Ended
	Nov. 30, 2023
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 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 interim effective tax rate, inclusive of discrete items, for the three and six month periods ended November 30, 2023 was 24.2% and 22.9%, respectively, compared to 25.3% and 30.2%, respectively, for the prior fiscal year period. The interim effective tax rate for the six months ended November 30, 2023 varies from the statutory rate primarily due to the GILTI inclusion and state and local income taxes. 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. The Company was previously under audit for the fiscal 2015 through fiscal 2020 tax years and the examination was completed in fiscal 2023 with no impact to the financial results. The fiscal 2021 and fiscal 2022 tax years remain subject to audit. 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 Selling, general and administrative expenses. Future developments relating to the foregoing could result in adjustments being made to these accruals.

Derivatives and Hedging

Derivatives and Hedging	6 Months Ended
	Nov. 30, 2023
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.

Other Accrued Expenses

Other Accrued Expenses	6 Months Ended
	Nov. 30, 2023
Other Accrued Expenses Disclosure [Abstract]
Other Accrued Expenses	OTHER ACCRUED EXPENSES Other accrued expenses consisted of the following as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 Accrued payroll, payroll taxes and benefits $ 32.8 $ 29.2 $ 34.7 Accrued bonus and commissions 13.7 31.2 16.5 Returns liability 37.7 34.9 43.9 Accrued other taxes 28.4 24.8 33.7 Accrued advertising and promotions 9.7 7.3 10.8 Other accrued expenses 40.2 41.5 40.8 Total accrued expenses $ 162.5 $ 168.9 $ 180.4

Subsequent Events

Subsequent Events	6 Months Ended
	Nov. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On December 13, 2023, the Board declared a quarterly cash dividend of $0.20 per share on the Company’s Class A and Common Stock for the third quarter of fiscal 2024. The dividend is payable on March 15, 2024 to shareholders of record as of the close of business on January 31, 2024. On December 13, 2023, the Board also authorized an increase of $66.2 for Common share repurchases under the Company's share buy-back program, resulting in a current Board authorization of $100.0, which includes $33.8 remaining from the previous Board authorization.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Nov. 30, 2023
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.
Noncontrolling Interest	Noncontrolling Interest On June 1, 2023, the Company acquired the remaining shares of Make Believe Ideas Limited ("MBI"), a UK-based children's book publishing company, which represented a 5.0% noncontrolling interest, increasing the Company's total ownership from 95.0% to 100%. Prior to June 1, 2023, the founder and chief executive officer of MBI retained a 5.0% noncontrolling ownership interest in MBI. The Company fully consolidated MBI as of the acquisition date and the 5.0% noncontrolling interest was classified within stockholder's equity.
Interim Financial Statements	Interim Financial Statements
Seasonality	Seasonality The Company’s Children’s Book Publishing and Distribution school-based book club and book fair channels and most of its Education Solutions
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 credit losses • 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 contractual performance obligations
New Accounting Pronouncements	New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-07, “Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures.” This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This ASU will be effective for the Company's fiscal year 2025, and interim periods starting in fiscal year 2026. Early adoption is permitted. The amendments in this ASU are to be applied retrospectively to all prior periods presented in the financial statements. The Company is currently assessing the impact of the disclosure requirements on its consolidated financial statements. Refer to the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2023 for more information on current applicable authoritative guidance and its impact on the Company's financial statements.

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Nov. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table presents the Company’s segment revenues disaggregated by region and domestic channel: Three months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Book Clubs - U.S. $ 32.4 $ 57.6 $ 35.0 $ 63.9 Book Fairs - U.S. 242.1 240.8 269.4 269.1 Trade - U.S. 101.0 107.9 163.5 184.1 Trade - International (1) 17.3 12.0 27.7 25.9 Total Children's Book Publishing and Distribution $ 392.8 $ 418.3 $ 495.6 $ 543.0 Education Solutions - U.S. $ 81.0 $ 80.0 $ 147.0 $ 153.2 Total Education Solutions $ 81.0 $ 80.0 $ 147.0 $ 153.2 International - Major Markets (2) $ 75.4 $ 77.1 $ 123.2 $ 130.5 International - Other Markets (3) 11.1 12.5 20.5 24.1 Total International $ 86.5 $ 89.6 $ 143.7 $ 154.6 Total (4) $ 560.3 $ 587.9 $ 786.3 $ 850.8 (1) Primarily includes foreign rights and certain product sales in the UK. (2) Includes Canada, UK, Australia and New Zealand. (3) Primarily includes markets in Asia. (4) Total revenues of $562.6 and $791.1 for the three and six months ended November 30, 2023, respectively, included rental income of $2.3 and $4.8, respectively, related to leased space in the Company's headquarters which was not allocated to a segment. Rental income of $1.6 and $3.1 for the three and six months ended November 30, 2022, respectively, was recognized as a reduction to Selling, general and administrative expenses.
Deferred Revenue, by Arrangement, Disclosure	The following table presents further detail regarding the Company's contract liabilities as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 Book fairs incentive credits $ 114.1 $ 110.8 $ 107.6 Magazines+ subscriptions 53.3 5.0 55.5 U.S. digital subscriptions 24.6 22.8 22.3 U.S. education-related (1) 10.6 9.8 13.4 Media-related 0.2 0.0 10.6 Stored value programs 24.1 12.4 13.8 Other (2) 7.6 8.3 9.5 Total contract liabilities $ 234.5 $ 169.1 $ 232.7 (1) Primarily includes contract liabilities related to contracts with school districts and professional services. (2) Primarily includes contract liabilities related to various international products and services.
Accounts Receivable, Allowance for Credit Loss	The following table presents the change in the allowance for credit losses, which is included in Accounts Receivable, net on the Condensed Consolidated Balance Sheets: Allowance for Credit Losses Balance as of June 1, 2023 $ 16.7 Provision (benefit) 0.6 Write-offs and other (0.2) Balance as of August 31, 2023 $ 17.1 Provision (benefit) 2.5 Write-offs and other (3.4) Balance as of November 30, 2023 $ 16.2

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Nov. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following table sets forth the Company's revenue and operating income (loss) by segment for the periods indicated: Three months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Revenues Children's Book Publishing and Distribution $ 392.8 $ 418.3 $ 495.6 $ 543.0 Education Solutions 81.0 80.0 147.0 153.2 International 86.5 89.6 143.7 154.6 Total (1) $ 560.3 $ 587.9 $ 786.3 $ 850.8 Operating income (loss) Children's Book Publishing and Distribution $ 110.8 $ 113.2 $ 69.3 $ 83.1 Education Solutions 5.8 7.0 (12.9) 2.7 International 8.0 6.7 (0.2) 3.2 Overhead (2) (23.3) (26.8) (54.0) (47.0) Total $ 101.3 $ 100.1 $ 2.2 $ 42.0 (1) Total revenues of $562.6 and $791.1 for the three and six months ended November 30, 2023, respectively, included rental income of $2.3 and $4.8, respectively, related to leased space in the Company's headquarters which was not allocated to a segment. Rental income of $1.6 and $3.1 for the three and six months ended November 30, 2022, respectively, was recognized as a reduction to Selling, general and administrative expenses. (2) Overhead includes all domestic corporate amounts not allocated to segments, including expenses and costs related to the management of corporate assets.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Nov. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	The following table summarizes the carrying value of the Company's debt as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 US Revolving Credit Agreement $ — $ — $ — Unsecured lines of credit 6.3 6.0 4.8 Total debt $ 6.3 $ 6.0 $ 4.8 Less lines of credit, short-term debt and current portion of long-term debt (6.3) (6.0) (4.8) Total long-term debt $ — $ — $ —

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Nov. 30, 2023
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 Six months ended November 30, November 30, 2023 2022 2023 2022 Net income (loss) attributable to Class A and Common Stockholders $ 76.9 $ 74.8 $ 2.7 $ 29.6 Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share (in millions) 30.7 34.5 31.2 34.4 Dilutive effect of Class A Stock and Common Stock potentially issuable pursuant to stock-based compensation plans (in millions) 0.7 0.9 0.8 1.0 Adjusted weighted average Shares of Class A Stock and Common Stock outstanding for diluted earnings (loss) per share (in millions) 31.4 35.4 32.0 35.4 Earnings (loss) per share of Class A Stock and Common Stock: Basic $ 2.51 $ 2.17 $ 0.09 $ 0.86 Diluted $ 2.45 $ 2.12 $ 0.09 $ 0.84 Anti-dilutive shares pursuant to stock-based compensation plans 1.1 1.3 0.7 0.8
Schedule of stock option activity	The following table sets forth options outstanding pursuant to stock-based compensation plans as of the dates indicated: November 30, 2023 November 30, 2022 Options outstanding pursuant to stock-based compensation plans (in millions) 3.1 3.4

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	6 Months Ended
	Nov. 30, 2023
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: November 30, 2023 May 31, 2023 November 30, 2022 Gross beginning balance $ 172.3 $ 164.9 $ 164.9 Accumulated impairment (39.6) (39.6) (39.6) Beginning balance $ 132.7 $ 125.3 $ 125.3 Additions — 7.6 7.0 Foreign currency translation 0.1 (0.2) (0.3) Ending balance $ 132.8 $ 132.7 $ 132.0
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 Financial Statements for the periods indicated: November 30, 2023 May 31, 2023 November 30, 2022 Beginning balance - Other intangibles subject to amortization $ 7.8 $ 6.0 $ 6.0 Additions 5.8 4.1 4.1 Amortization expense (1.2) (2.2) (1.1) Foreign currency translation 0.0 (0.1) (0.1) Total other intangibles subject to amortization, net of accumulated amortization of $37.7, $36.5 and $35.4, respectively $ 12.4 $ 7.8 $ 8.9 Total other intangibles not subject to amortization $ 2.1 $ 2.1 $ 2.1 Total other intangibles $ 14.5 $ 9.9 $ 11.0

Investments (Tables)

Investments (Tables)	6 Months Ended
	Nov. 30, 2023
Equity Method And Cost Method Investments [Abstract]
Investments	The following table summarizes the Company’s investments as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 Segment Equity method investments $ 32.4 $ 31.6 $ 31.0 International Other equity investments 6.0 6.0 6.0 Children's Book Publishing & Distribution Total Investments $ 38.4 $ 37.6 $ 37.0

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	6 Months Ended
	Nov. 30, 2023
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 “US Postretirement Benefits”), for the periods indicated: UK Pension Plan US Postretirement Benefits Three months ended Three months ended November 30, November 30, 2023 2022 2023 2022 Components of net periodic benefit cost: Interest cost $ 0.3 $ 0.2 $ 0.1 $ 0.1 Expected return on assets (0.3) (0.3) — — Amortization of prior service (credit) loss 0.0 0.0 (0.2) (0.2) Amortization of net actuarial (gain) loss 0.3 0.1 0.0 — Total $ 0.3 $ 0.0 $ (0.1) $ (0.1) UK Pension Plan US Postretirement Benefits Six months ended Six months ended November 30, November 30, 2023 2022 2023 2022 Components of net periodic benefit cost: Interest cost $ 0.7 $ 0.5 $ 0.2 $ 0.2 Expected return on assets (0.6) (0.6) — — Amortization of prior service (credit) loss 0.0 0.0 (0.4) (0.4) Amortization of net actuarial (gain) loss 0.6 0.2 0.0 — Total $ 0.7 $ 0.1 $ (0.2) $ (0.2)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Nov. 30, 2023
Share-Based Payment Arrangement [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 Six months ended November 30, November 30, 2023 2022 2023 2022 Stock option expense $ 2.4 $ 2.4 $ 3.0 $ 3.0 Restricted stock unit expense 1.4 1.3 2.9 2.3 Management stock purchase plan 0.3 0.4 0.3 0.4 Employee stock purchase plan 0.0 0.1 0.2 0.2 Total stock-based compensation expense $ 4.1 $ 4.2 $ 6.4 $ 5.9
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 Six months ended November 30, November 30, 2023 2022 2023 2022 Common Stock issued pursuant to stock-based compensation plans (in millions) 0.3 0.3 0.4 0.6

Treasury Stock (Tables)

Treasury Stock (Tables)	6 Months Ended
	Nov. 30, 2023
Equity, Attributable to Parent [Abstract]
Tabular Disclosure of an Entity's Treasury Stock	The table below represents the Board authorization at the dates indicated: Authorization Amount March 2023 $ 50.0 July 2023 100.0 Total current Board authorizations $ 150.0 Less repurchases made under these authorizations $ (116.2) Remaining Board authorization at November 30, 2023 $ 33.8

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Nov. 30, 2023
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: Three months ended November 30, 2023 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at September 1, 2023 $ (48.2) $ (5.6) $ (53.8) Other comprehensive income (loss) before reclassifications 0.2 — 0.2 Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial loss (net of tax of $0.0) — 0.3 0.3 Amortization of prior service (credit) cost (net of tax of $0.0) — (0.2) (0.2) Other comprehensive income (loss) 0.2 0.1 0.3 Ending balance at November 30, 2023 $ (48.0) $ (5.5) $ (53.5) Three months ended November 30, 2022 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at September 1, 2022 $ (54.2) $ (0.8) $ (55.0) Other comprehensive income (loss) before reclassifications 3.0 — 3.0 Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial loss (net of tax of $0.0) — 0.1 0.1 Amortization of prior service (credit) cost (net of tax of $0.0) — (0.2) (0.2) Other comprehensive income (loss) 3.0 (0.1) 2.9 Ending balance at November 30, 2022 $ (51.2) $ (0.9) $ (52.1) Six months ended November 30, 2023 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2023 $ (50.0) $ (5.8) $ (55.8) Other comprehensive income (loss) before reclassifications 2.0 — 2.0 Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial (gain) loss (net of tax of $0.0) — 0.6 0.6 Amortization of prior service (credit) cost (net of tax of $0.1) — (0.3) (0.3) Other comprehensive income (loss) 2.0 0.3 2.3 Ending balance at November 30, 2023 $ (48.0) $ (5.5) $ (53.5) Six months ended November 30, 2022 Foreign currency translation adjustments Retirement benefit plans Total Beginning balance at June 1, 2022 $ (44.6) $ (0.8) $ (45.4) Other comprehensive income (loss) before reclassifications (6.6) — (6.6) Less amount reclassified from Accumulated other comprehensive income (loss): Amortization of net actuarial (gain) loss (net of tax of $0.0) — 0.2 0.2 Amortization of prior service (credit) cost (net of tax of $0.1) — (0.3) (0.3) Other comprehensive income (loss) (6.6) (0.1) (6.7) Ending balance at November 30, 2022 $ (51.2) $ (0.9) $ (52.1)
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 Six months ended Condensed Consolidated Statements of Operations line item November 30, November 30, November 30, November 30, 2023 2022 2023 2022 Employee benefit plans: Amortization of net actuarial loss $ 0.3 $ 0.1 $ 0.6 $ 0.2 Other components of net periodic benefit (cost) Amortization of prior service (credit) loss (0.2) (0.2) (0.4) (0.4) Other components of net periodic benefit (cost) Less: Tax effect 0.0 0.0 0.1 0.1 Provision (benefit) for income taxes Total cost, net of tax $ 0.1 $ (0.1) $ 0.3 $ (0.1)

Other Accrued Expenses (Tables)

Other Accrued Expenses (Tables)	6 Months Ended
	Nov. 30, 2023
Other Accrued Expenses Disclosure [Abstract]
Schedule of Other Accrued Expenses	Other accrued expenses consisted of the following as of the dates indicated: November 30, 2023 May 31, 2023 November 30, 2022 Accrued payroll, payroll taxes and benefits $ 32.8 $ 29.2 $ 34.7 Accrued bonus and commissions 13.7 31.2 16.5 Returns liability 37.7 34.9 43.9 Accrued other taxes 28.4 24.8 33.7 Accrued advertising and promotions 9.7 7.3 10.8 Other accrued expenses 40.2 41.5 40.8 Total accrued expenses $ 162.5 $ 168.9 $ 180.4

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - Make Believe Ideas Limited (MBI)	Jun. 01, 2023	May 31, 2023
Scholastic, Inc.
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage	100%	95%
Founder and CEO of MBI
Long Lived Assets Held-for-sale [Line Items]
Ownership percentage by founder and CEO of MBI		5%

Revenues - Disaggregation of Re

Revenues - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 562.6	$ 587.9	$ 791.1	$ 850.8
Total Revenues excluding rental income	560.3	587.9	786.3	850.8
Lease Income	2.3	1.6	4.8	3.1
Children's Book Publishing & Distribution
Disaggregation of Revenue [Line Items]
Revenues	392.8	418.3	495.6	543
Children's Book Publishing & Distribution | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	392.8	418.3	495.6	543
Children's Book Publishing & Distribution | Book Clubs - U.S.
Disaggregation of Revenue [Line Items]
Revenues	32.4	57.6	35	63.9
Children's Book Publishing & Distribution | Book Fairs - U.S.
Disaggregation of Revenue [Line Items]
Revenues	242.1	240.8	269.4	269.1
Children's Book Publishing & Distribution | Trade - U.S.
Disaggregation of Revenue [Line Items]
Revenues	101	107.9	163.5	184.1
Children's Book Publishing & Distribution | Trade - International
Disaggregation of Revenue [Line Items]
Revenues	17.3	12	27.7	25.9
Education
Disaggregation of Revenue [Line Items]
Revenues	81	80	147	153.2
Education | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	81	80	147	153.2
International
Disaggregation of Revenue [Line Items]
Revenues	86.5	89.6	143.7	154.6
International | Operating Segments
Disaggregation of Revenue [Line Items]
Revenues	86.5	89.6	143.7	154.6
International | Major Markets
Disaggregation of Revenue [Line Items]
Revenues	75.4	77.1	123.2	130.5
International | Other Markets
Disaggregation of Revenue [Line Items]
Revenues	$ 11.1	$ 12.5	$ 20.5	$ 24.1

Revenues - Narrative (Details)

Revenues - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Revenue from Contract with Customer [Abstract]
Deferred revenue	$ 225	$ 232.7	$ 225	$ 232.7	$ 169.1
Contract with customer, liability, noncurrent	9.5		9.5
Deferred revenue	234.5	232.7	234.5	232.7	169.1
Returns liability	37.7	43.9	37.7	43.9	34.9
Return asset	5.4	6.1	5.4	6.1	$ 4.7
Contract with Customer, Liability, Revenue Recognized	$ 48.4	$ 49.5	$ 80.7	$ 80.3

Revenues - Deferred Revenue (De

Revenues - Deferred Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 234,500	$ 232,700	$ 234,500	$ 232,700	$ 169,100
Contract with Customer, Liability, Revenue Recognized	48,400	49,500	80,700	80,300
Book fairs incentive credits
Deferred Revenue Arrangement [Line Items]
Deferred revenue	114,100	107,600	114,100	107,600	110,800
Magazines+ subscriptions
Deferred Revenue Arrangement [Line Items]
Deferred revenue	53,300	55,500	53,300	55,500	5,000
U.S. digital subscriptions
Deferred Revenue Arrangement [Line Items]
Deferred revenue	24,600	22,300	24,600	22,300	22,800
U.S. Education-related
Deferred Revenue Arrangement [Line Items]
Deferred revenue	10,600	13,400	10,600	13,400	9,800
Media-related
Deferred Revenue Arrangement [Line Items]
Deferred revenue	200	10,600	200	10,600	0
Stored value programs
Deferred Revenue Arrangement [Line Items]
Deferred revenue	24,100	13,800	24,100	13,800	12,400
Other
Deferred Revenue Arrangement [Line Items]
Deferred revenue	$ 7,600	$ 9,500	$ 7,600	$ 9,500	$ 8,300

Revenues - Allowance for Credit

Revenues - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2023	Nov. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance as of June 1, 2023	$ 17.1	$ 16.7	$ 16.7
Provision for losses on accounts receivable	2.5	0.6	3.1	$ 1.3
Write-offs and other	(3.4)	(0.2)
Balance as of August 31, 2023	$ 16.2	$ 17.1	$ 16.2

Segment Information - Schedule

Segment Information - Schedule of segment reporting information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023 USD ($)	Nov. 30, 2022 USD ($)	Nov. 30, 2023 USD ($) segment	Nov. 30, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			3
Revenues	$ 562.6	$ 587.9	$ 791.1	$ 850.8
Total Revenues excluding rental income	560.3	587.9	786.3	850.8
Segment operating income (loss)	101.3	100.1	$ 2.2	42
Children's Book Publishing & Distribution
Segment Reporting Information [Line Items]
Number of operating segments | segment			2
Revenues	392.8	418.3	$ 495.6	543
Education
Segment Reporting Information [Line Items]
Number of operating segments | segment			1
Revenues	81	80	$ 147	153.2
International
Segment Reporting Information [Line Items]
Number of operating segments | segment			3
Revenues	86.5	89.6	$ 143.7	154.6
Operating Segments | Children's Book Publishing & Distribution
Segment Reporting Information [Line Items]
Revenues	392.8	418.3	495.6	543
Segment operating income (loss)	110.8	113.2	69.3	83.1
Operating Segments | Education
Segment Reporting Information [Line Items]
Revenues	81	80	147	153.2
Segment operating income (loss)	5.8	7	(12.9)	2.7
Operating Segments | International
Segment Reporting Information [Line Items]
Revenues	86.5	89.6	143.7	154.6
Segment operating income (loss)	8	6.7	(0.2)	3.2
Operating Segments | Overhead
Segment Reporting Information [Line Items]
Segment operating income (loss)	$ (23.3)	$ (26.8)	$ (54)	$ (47)

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Nov. 30, 2023	May 31, 2023	Nov. 30, 2022
Debt Instrument [Line Items]
Total Debt	$ 6.3	$ 6	$ 4.8
Less lines of credit, short-term debt and current portion of long-term debt	(6.3)	(6)	(4.8)
Total long-term debt	0	0	0
Revolving Credit Facility
Debt Instrument [Line Items]
Total Debt	0	0	0
Line of Credit | Unsecured Debt
Debt Instrument [Line Items]
Total Debt	$ 6.3	$ 6	$ 4.8

Debt - Narrative (Details)

Debt - Narrative (Details)			6 Months Ended
	Feb. 28, 2023	Oct. 27, 2021 USD ($)	Nov. 30, 2023 USD ($)	May 31, 2023 USD ($)	Nov. 30, 2022 USD ($)
Debt (Details) [Line Items]
Debt			$ 6,300,000	$ 6,000,000	$ 4,800,000
Standby letters of credit			3,800,000
Domestic Line of Credit
Debt (Details) [Line Items]
Standby letters of credit			3,400,000
Revolving Credit Facility
Debt (Details) [Line Items]
Debt			0	0	0
Standby letters of credit			$ 400,000
Loan Agreement
Debt (Details) [Line Items]
Maximum borrowing capacity		$ 300,000,000
Commitment fee percentage			0.20%
Consolidated net leverage ratio, maximum		2.75
Increase in borrowing capacity available under accordion feature		$ 150,000,000
Debt Instrument, Term		5 years
Loan Agreement | Minimum
Debt (Details) [Line Items]
Commitment fee percentage		0.20%
Loan Agreement | Maximum
Debt (Details) [Line Items]
Commitment fee percentage		0.30%
Loan Agreement | Swingline Facility
Debt (Details) [Line Items]
Maximum borrowing capacity		$ 15,000,000
Loan Agreement | Revolving Credit Facility
Debt (Details) [Line Items]
Maximum borrowing capacity		$ 50,000,000
Loan Agreement | Eurodollar
Debt (Details) [Line Items]
Variable rate (percentage)		1%
Loan Agreement | Base Rate
Debt (Details) [Line Items]
Variable rate (percentage)			0.35%
Loan Agreement | Base Rate | Minimum
Debt (Details) [Line Items]
Variable rate (percentage)		0.35%
Loan Agreement | Base Rate | Maximum
Debt (Details) [Line Items]
Variable rate (percentage)		0.75%
Loan Agreement | Federal Funds Rate
Debt (Details) [Line Items]
Variable rate (percentage)		0.50%
Loan Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt (Details) [Line Items]
Variable rate (percentage)	0.10%		1.35%
Loan Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum
Debt (Details) [Line Items]
Variable rate (percentage)	1.35%
Loan Agreement | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum
Debt (Details) [Line Items]
Variable rate (percentage)	1.75%
Unsecured Debt | Domestic Line of Credit
Debt (Details) [Line Items]
Borrowing capacity			$ 10,000,000
Short-term debt			$ 0	0	0
Expiration period (in days)			365 days
Remaining borrowing capacity			$ 6,600,000
Unsecured Debt | Line of Credit
Debt (Details) [Line Items]
Borrowing capacity			30,900,000
Debt			$ 6,300,000	$ 6,000,000	$ 4,800,000
Expiration period (in days)			364 days
Weighted average interest rate (percentage)			3.90%	4.90%	5.80%
Remaining borrowing capacity			$ 24,600,000

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Earnings Per Share, Basic and Diluted [Abstract]
Net income (loss) attributable to Class A and Common Shares	$ 76.9	$ 74.8	$ 2.7	$ 29.6
Weighted average Shares of Class A Stock and Common Stock outstanding for basic earnings (loss) per share	30.7	34.5	31.2	34.4
Weighted Average Number Diluted Shares Outstanding Adjustment	0.7	0.9	0.8	1
Weighted Average Number of Shares Outstanding, Diluted	31.4	35.4	32	35.4
Earnings (loss) per share of Class A Stock and Common Stock:
Basic (in Dollars per share)	$ 2.51	$ 2.17	$ 0.09	$ 0.86
Diluted (in Dollars per share)	$ 2.45	$ 2.12	$ 0.09	$ 0.84
Antidilutive shares excluded from calculation of earnings per share	1.1	1.3	0.7	0.8

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Options Outstanding (Details) - shares shares in Millions	Nov. 30, 2023	Nov. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Options outstanding pursuant to stock-based compensation plans (in millions)	3.1	3.4

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Earnings Per Share [Abstract]
Antidilutive shares excluded from calculation of earnings per share	1.1	1.3	0.7	0.8
Remaining authorized stock repurchase amount	$ 33.8		$ 33.8

Goodwill and Other Intangible_2

Goodwill and Other Intangibles - Schedule of activity in goodwill (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023	May 31, 2022
Goodwill [Roll Forward]
Gross goodwill			$ 172.3	$ 164.9
Goodwill, Impaired, Accumulated Impairment Loss			(39.6)	(39.6)
Goodwill	$ 132.8	$ 132	132.7	$ 125.3
Additions	0	7	7.6
Foreign currency translation	$ 0.1	$ (0.3)	$ (0.2)

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Narrative (Details) - USD ($)		3 Months Ended	6 Months Ended		12 Months Ended
	Sep. 01, 2022	Nov. 30, 2023	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Goodwill [Line Items]
Additions			$ 0	$ 7,000,000	$ 7,600,000
Goodwill, Impairment Loss			0	0	0
Amortizable intangible assets acquired		$ 5,800,000	$ 5,800,000	4,100,000	4,100,000
Useful life		6 years 1 month 6 days	6 years 1 month 6 days
Impairment of intangible assets (excluding goodwill)			$ 0	$ 0	$ 0
Learning Ovations, Inc.
Goodwill [Line Items]
Amortizable intangible assets acquired	$ 4,100,000
Useful life		7 years	7 years
Educational Program
Goodwill [Line Items]
Useful life		8 years	8 years
Education
Goodwill [Line Items]
Additions	7,600,000
Education | Learning Ovations, Inc.
Goodwill [Line Items]
Additions	$ 7,600,000

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Schedule of other intangible assets subject to amortization (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended		12 Months Ended
	Nov. 30, 2023	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Finite-lived Intangible Assets [Roll Forward]
Beginning balance other intangibles subject to amortization		$ 7.8	$ 6	$ 6
Additions	$ 5.8	5.8	4.1	4.1
Amortization expense		(1.2)	(1.1)	(2.2)
Foreign currency translation		0	(0.1)	(0.1)
Total other intangibles subject to amortization, net of accumulated amortization of $24.8, $24.1 and $22.5, respectively	12.4	12.4	8.9	7.8
Accumulated amortization of intangible assets	37.7	37.7	35.4	36.5
Total other intangibles not subject to amortization	2.1	2.1	2.1	2.1
Total other intangibles	$ 14.5	$ 14.5	$ 11	$ 9.9

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions			3 Months Ended	6 Months Ended		12 Months Ended
	Jun. 01, 2023	Sep. 01, 2022	Nov. 30, 2023	Nov. 30, 2023	Nov. 30, 2022	May 31, 2023
Business Acquisition [Line Items]
Other investment and acquisition-related payments				$ (8.3)	$ (10.7)
Additional paid-in capital			$ 630.8	630.8	629	$ 632.2
Amortizable intangible assets acquired			$ 5.8	5.8	4.1	4.1
Additions				$ 0	$ 7	$ 7.6
Education
Business Acquisition [Line Items]
Additions		$ 7.6
Learning Ovations, Inc.
Business Acquisition [Line Items]
Other investment and acquisition-related payments		11.1
Amortizable intangible assets acquired		4.1
Receivables, Fair Value Disclosure		$ 0.1
Business combination, discount rate		0.175
Fair Value, Net Asset (Liability)		$ 3.6
Deferred Tax Liabilities, Tax Deferred Income		0.6
Learning Ovations, Inc. | Education
Business Acquisition [Line Items]
Additions		$ 7.6
Make Believe Ideas Limited (MBI)
Business Acquisition [Line Items]
Other investment and acquisition-related payments	$ 2.1
Noncontrolling interest, equity, carrying amount	1.6
Additional paid-in capital	$ 0.5
Scholastic, Inc. | Learning Ovations, Inc.
Business Acquisition [Line Items]
Ownership percentage		100%
Scholastic, Inc. | Make Believe Ideas Limited (MBI)
Business Acquisition [Line Items]
Ownership percentage	100%					95%

Investments - Summary of the Co

Investments - Summary of the Company's Investments (Details) - USD ($) $ in Millions	Nov. 30, 2023	May 31, 2023	Nov. 30, 2022
Debt and Equity Securities, FV-NI [Line Items]
Total Investments	$ 38.4	$ 37.6	$ 37
International
Debt and Equity Securities, FV-NI [Line Items]
Equity method investments	32.4	31.6	31
Children's Book Publishing & Distribution | Other equity investments
Debt and Equity Securities, FV-NI [Line Items]
Total Investments	$ 6	$ 6	$ 6

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Debt and Equity Securities, FV-NI [Line Items]
Equity method investment, impairment			$ 0
Income from equity-method investments	$ 100,000	$ 1,200,000	$ 300,000	$ 1,300,000
Children's Book Publishing & Distribution
Debt and Equity Securities, FV-NI [Line Items]
Equity method ownership percentage	26.20%		26.20%
Financing and Production Company | Financing and Production Company
Debt and Equity Securities, FV-NI [Line Items]
Other equity percentage			4.60%

Employee Benefit Plans - Schedu

Employee Benefit Plans - Schedule of net periodic costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Pension Plans | Foreign Plan
Components of net periodic benefit (credit) cost:
Interest cost	$ 300	$ 200	$ 700	$ 500
Expected return on assets	(300)	(300)	(600)	(600)
Net amortization of prior service credit	0	0	0	0
Amortization of (gain) loss	300	100	600	200
Net periodic benefit (credit) cost	300	0	700	100
Post-Retirement Benefits
Components of net periodic benefit (credit) cost:
Interest cost	100	100	200	200
Expected return on assets	0	0	0	0
Net amortization of prior service credit	(200)	(200)	(400)	(400)
Amortization of (gain) loss	0	0	0	0
Net periodic benefit (credit) cost	$ (100)	$ (100)	$ (200)	$ (200)

Employee Benefit Plans - Narrat

Employee Benefit Plans - Narrative (Details) - Pension Plans - Foreign Plan - USD ($) $ in Millions	6 Months Ended
	Nov. 30, 2023	May 31, 2024
Employee Benefit Plans (Details) [Line Items]
Pension contributions	$ 0.6
Forecast
Employee Benefit Plans (Details) [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year		$ 1.2

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 4.1	$ 4.2	$ 6.4	$ 5.9
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period	0.3	0.3	0.4	0.6
Stock option expense
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 2.4	$ 2.4	$ 3	$ 3
Restricted stock unit expense
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	1.4	1.3	2.9	2.3
Management stock purchase plan
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	0.3	0.4	0.3	0.4
Employee stock purchase plan
Stock-Based Compensation (Details) - Schedule of stock-based compensation [Line Items]
Stock-based compensation expense	$ 0	$ 0.1	$ 0.2	$ 0.2

Treasury Stock - Schedule of re

Treasury Stock - Schedule of repurchase of common stock (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended	8 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Nov. 30, 2023	Jul. 19, 2023	Mar. 22, 2023
Equity, Class of Treasury Stock [Line Items]
Authorized amount of stock to be repurchased	$ 150				$ 150	$ 150	$ 100
Less repurchases made under these authorizations	(52.3)	$ (36.2)	$ (26)	$ (5.1)	(88.5)
Remaining Board authorization at November 30, 2023	$ 33.8				$ 33.8	33.8
Board Authorized 2023 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized amount of stock to be repurchased								$ 50
Board Authorized 2024 Share Repurchase Program
Equity, Class of Treasury Stock [Line Items]
Authorized amount of stock to be repurchased							$ 100
Under all Board Authorizations
Equity, Class of Treasury Stock [Line Items]
Less repurchases made under these authorizations						$ (116.2)

Treasury Stock - Narrative (Det

Treasury Stock - Narrative (Details) - USD ($)	3 Months Ended				6 Months Ended
	Nov. 30, 2023	Aug. 31, 2023	Nov. 30, 2022	Aug. 31, 2022	Nov. 30, 2023	Jul. 19, 2023
Equity, Attributable to Parent [Abstract]
Authorized amount of stock to be repurchased	$ 150,000,000				$ 150,000,000	$ 100,000,000
Treasury stock, value acquired	52,300,000	$ 36,200,000	$ 26,000,000	$ 5,100,000	88,500,000
Excise tax on stock repurchased	$ 400,000				$ 700,000

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Schedule of AOCI Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance			$ (55.8)
Other comprehensive income (loss) before reclassifications	$ 0.2	$ 3	2	$ (6.6)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	(0.3)	(0.1)	(0.6)	(0.2)
Amortization of prior service (credit) cost (net of tax of $0.0)	(0.2)	(0.2)	(0.3)	(0.3)
Other comprehensive income (loss)	0.3	2.9	2.3	(6.7)
Ending balance	(53.5)	(52.1)	(53.5)	(52.1)
Amortization of prior service credit, tax	0	0	0.1	0.1
Reclassification adjustment from AOCI, tax	0	0	0	0
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(53.8)	(55)	(55.8)	(45.4)
Ending balance	(53.5)	(52.1)	(53.5)	(52.1)
Foreign currency translation adjustments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(48.2)	(54.2)	(50)	(44.6)
Other comprehensive income (loss) before reclassifications	0.2	3	2	(6.6)
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	0	0	0	0
Amortization of prior service (credit) cost (net of tax of $0.0)	0	0	0	0
Other comprehensive income (loss)	0.2	3	2	(6.6)
Ending balance	(48)	(51.2)	(48)	(51.2)
Retirement benefit plans
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(5.6)	(0.8)	(5.8)	(0.8)
Other comprehensive income (loss) before reclassifications	0	0	0	0
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, after Tax	(0.3)	(0.1)	(0.6)	(0.2)
Amortization of prior service (credit) cost (net of tax of $0.0)	(0.2)	(0.2)	(0.3)	(0.3)
Other comprehensive income (loss)	0.1	(0.1)	0.3	(0.1)
Ending balance	$ (5.5)	$ (0.9)	$ (5.5)	$ (0.9)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Less: Tax effect	$ (24.6)	$ (25.5)	$ (0.8)	$ (13)
Net income (loss) attributable to Scholastic Corporation	(76.9)	(75.3)	(2.7)	(29.8)
Amount reclassified from Accumulated other comprehensive income (loss) | Retirement benefit plans
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of unrecognized gain (loss)	0.3	0.1	0.6	0.2
Amortization of prior service (credit) loss	(0.2)	(0.2)	(0.4)	(0.4)
Less: Tax effect	0	0	0.1	0.1
Net income (loss) attributable to Scholastic Corporation	$ 0.1	$ (0.1)	$ 0.3	$ (0.1)

Income Taxes and Other Taxes (D

Income Taxes and Other Taxes (Details)	3 Months Ended		6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022	Nov. 30, 2023	Nov. 30, 2022
Income Tax And Non Income Tax Disclosure [Abstract]
Effective income tax rate (percentage)	24.20%	25.30%	22.90%	30.20%

Derivatives and Hedging (Detail

Derivatives and Hedging (Details) - Not Designated as Hedging Instrument - Foreign Exchange Contract - USD ($) $ in Millions	6 Months Ended
	Nov. 30, 2023	Nov. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized gain (loss)	$ (0.3)	$ (0.8)
Derivative, Notional Amount	22.8	22.8
Derivative, Notional Amount	$ 22.8	$ 22.8

Other Accrued Expenses - Schedu

Other Accrued Expenses - Schedule of accrued expenses (Details) - USD ($) $ in Millions	Nov. 30, 2023	May 31, 2023	Nov. 30, 2022
Schedule of accrued expenses [Abstract]
Accrued payroll, payroll taxes and benefits	$ 32.8	$ 29.2	$ 34.7
Accrued bonus and commissions	13.7	31.2	16.5
Returns liability	37.7	34.9	43.9
Accrued other taxes	28.4	24.8	33.7
Accrued advertising and promotions	9.7	7.3	10.8
Other accrued expenses	40.2	41.5	40.8
Total accrued expenses	$ 162.5	$ 168.9	$ 180.4

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 13, 2023	Nov. 30, 2023	Jul. 19, 2023
Subsequent Event [Line Items]
Authorized amount of stock to be repurchased		$ 150	$ 100
Remaining authorized stock repurchase amount		$ 33.8
Subsequent Event
Subsequent Event [Line Items]
Authorized amount of stock to be repurchased	$ 100
Increase in authorized amount	$ 66.2
Common Class | Subsequent Event
Subsequent Event [Line Items]
Dividend declared per share (in Dollars per share)	$ 0.20