Scholastic Corp Files 2024 10-K
Ticker: SCHL · Form: 10-K · Filed: Jul 19, 2024 · CIK: 866729
| Field | Detail |
|---|---|
| Company | Scholastic Corp (SCHL) |
| Form Type | 10-K |
| Filed Date | Jul 19, 2024 |
| Risk Level | medium |
| Pages | 14 |
| Reading Time | 17 min |
| Key Dollar Amounts | $0.01, $0, $1,589.7, $9.7, $7.1 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, publishing
TL;DR
Scholastic's 2024 10-K is in. Check financials for book giant.
AI Summary
Scholastic Corporation filed its 10-K for the fiscal year ending May 31, 2024, reporting on its financial performance and business operations. The company, headquartered at 555 Broadway, New York, NY, operates within the Books: Publishing or Publishing and Printing industry. This filing provides a comprehensive overview of its fiscal health and strategic direction for the period.
Why It Matters
This 10-K filing provides investors and stakeholders with a detailed look into Scholastic's financial standing and operational performance for the fiscal year 2024, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — The filing is a standard annual report and does not inherently indicate new or elevated risks.
Key Numbers
- 20240531 — Fiscal Year End (Reporting period for the 10-K)
- 20240719 — Filing Date (Date the 10-K was submitted to the SEC)
Key Players & Entities
- SCHOLASTIC CORP (company) — Filer
- 555 BROADWAY (location) — Business and Mail Address
- NEW YORK (location) — City
- NY (location) — State
- 2123436100 (phone_number) — Business Phone
FAQ
What is Scholastic Corporation's primary industry classification?
Scholastic Corporation is classified under STANDARD INDUSTRIAL CLASSIFICATION: BOOKS: PUBLISHING OR PUBLISHING AND PRINTING [2731].
What is the fiscal year end date for Scholastic Corporation?
The fiscal year end for Scholastic Corporation is May 31, as indicated by 'FISCAL YEAR END: 0531'.
When was this 10-K filing submitted to the SEC?
This 10-K filing was submitted on July 19, 2024, as indicated by 'FILED AS OF DATE: 20240719'.
What is Scholastic Corporation's state of incorporation?
Scholastic Corporation's state of incorporation is Delaware ('DE').
What is the SEC file number for Scholastic Corporation?
The SEC file number for Scholastic Corporation is 000-19860.
Filing Stats: 4,333 words · 17 min read · ~14 pages · Grade level 14.3 · Accepted 2024-07-19 16:04:32
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value SCHL The NASDAQ Stock Market
- $0 — et value of the Common Stock, par value $0.01, held by non-affiliates as of Novemb
- $1,589.7 — 704.0 $ 1,642.9 (1) Total revenues of $1,589.7 for fiscal year ended May 31, 2024, inc
- $9.7 — May 31, 2024, included rental income of $9.7 related to leased space in the Company'
- $7.1 — llocated to a segment. Rental income of $7.1 and $6.1 was recognized as a reduction
- $6.1 — to a segment. Rental income of $7.1 and $6.1 was recognized as a reduction to Sellin
Filing Documents
- schl-20240531.htm (10-K) — 2782KB
- exhibit41_5312024.htm (EX-4.1) — 7KB
- exhibit1012.htm (EX-10.12) — 46KB
- exhibit1031-sharerepurchas.htm (EX-10.31) — 56KB
- exhibit21_5312024.htm (EX-21) — 22KB
- exhibit23_5312024.htm (EX-23) — 7KB
- exhibit311_5312024.htm (EX-31.1) — 15KB
- exhibit312_5312024.htm (EX-31.2) — 15KB
- exhibit32_5312024.htm (EX-32) — 9KB
- exhibit97.htm (EX-97) — 31KB
- image_0.jpg (GRAPHIC) — 5KB
- schl-20240531_g1.jpg (GRAPHIC) — 47KB
- schl-20240531_g2.jpg (GRAPHIC) — 124KB
- 0000866729-24-000018.txt ( ) — 16700KB
- schl-20240531.xsd (EX-101.SCH) — 104KB
- schl-20240531_cal.xml (EX-101.CAL) — 132KB
- schl-20240531_def.xml (EX-101.DEF) — 591KB
- schl-20240531_lab.xml (EX-101.LAB) — 1208KB
- schl-20240531_pre.xml (EX-101.PRE) — 962KB
- schl-20240531_htm.xml (XML) — 2991KB
Business
Business 1 Item 1A.
Risk Factors
Risk Factors 10 Item 1B. Unresolved Staff Comments 15 I tem 1C. C ybersecurity 15 Item 2.
Properties
Properties 17 Item 3.
Legal Proceedings
Legal Proceedings 17 Item 4. Mine Safety Disclosures 18 Part II Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 19 Item 6. [Reserved] 20 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 7A.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 32 Item 8. Consolidated Financial Statements and Supplementary Data 33 Consolidated Statements of Operations 34 Consolidated Statements of Comprehensive Income (Loss) 35 Consolidated Balance Sheets 36 Consolidated Statement of Changes in Stockholders' Equity 37 Consolidated Statements of Cash Flows 38
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements 40 Reports of Independent Registered Public Accounting Firm 76 Supplementary Financial Information 79 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 80 Item 9A.
Controls and Procedures
Controls and Procedures 80 Item 9B. Other Information 80 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 80 Part III Item 10. Directors, Executive Officers and Corporate Governance 81 Item 11.
Executive Compensation
Executive Compensation 81 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 81 Item 13. Certain Relationships and Related Transactions, and Director Independence 81 Item 14. Principal Accounting Fees and Services 81 Part IV Item 15. Exhibits, Financial Statement Schedules 82 Item 16. Summary 85
Signatures
Signatures 86 Power of Attorney 87 Schedule II: Valuation and Qualifying Accounts and Reserves S-1 Part I
| Business
Item 1 | Business Overview Scholastic Corporation (the "Corporation" and together with its subsidiaries, "Scholastic" or the "Company") is the world's largest publisher and distributor of children's books, a leading provider of print and digital instructional materials for grades pre-kindergarten ("pre-K") to grade 12 and a producer of high-quality, engaging children's media. The Company creates quality print, digital and audio books, learning materials and programs, classroom magazines and other products that, in combination, offer children, families an educators engaging and comprehensive solutions to support children's learning and reading both at home and at school. Since its founding in 1920, Scholastic has emphasized quality products and a dedication to reading, learning and literacy. The Company is the leading operator of school-based book club and book fair proprietary channels. It distributes its products and services through these channels, retail stores and the internet, as well as directly to schools and libraries. The Company's website, scholastic.com, is a leading site for teachers, classrooms and parents and an award-winning destination for children. Scholastic has operations in the United States and throughout the world including Canada, the United Kingdom, Australia, New Zealand and Asia and, through its export business, sells products in approximately 120 international locations. Segments The Company categorizes its businesses into three reportable segments: Children's Book Publishing and Distribution ; Education Solutions ; and International . The following table sets forth revenues by reportable segment for the three fiscal years ended May 31: (Amounts in millions) 2024 2023 2022 Children's Book Publishing and Distribution $ 955.2 $ 1,038.0 $ 946.5 Education Solutions 351.2 386.6 393.6 International 273.6 279.4 302.8 Total (1) $ 1,580.0 $ 1,704.0 $ 1,642.9 (1) Total revenues of $1,589.7 for fiscal year ended May 31, 2024, incl