$WLY
JOHN WILEY & SONS, INC.

2020 Q1 Form 10-Q Financial Statement

#000010714020000011 Filed on March 06, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q1
Revenue $467.1M $449.4M
YoY Change 3.94% -1.38%
Cost Of Revenue $153.9M $143.9M
YoY Change 6.98% 5.51%
Gross Profit $313.2M $305.5M
YoY Change 2.52% -4.32%
Gross Profit Margin 67.05% 67.98%
Selling, General & Admin $245.7M $240.7M
YoY Change 2.06% 0.51%
% of Gross Profit 78.44% 78.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $43.68M $39.83M
YoY Change 9.66% 53.8%
% of Gross Profit 13.95% 13.04%
Operating Expenses $245.7M $240.7M
YoY Change 2.06% 0.49%
Operating Profit $48.50M $50.30M
YoY Change -3.58% -36.93%
Interest Expense $6.309M $5.346M
YoY Change 18.01% -175.3%
% of Operating Profit 13.01% 10.63%
Other Income/Expense, Net
YoY Change
Pretax Income $44.67M $45.22M
YoY Change -1.21% -22.44%
Income Tax $9.229M $10.28M
% Of Pretax Income 20.66% 22.72%
Net Earnings $35.40M $34.90M
YoY Change 1.43% -49.27%
Net Earnings / Revenue 7.58% 7.77%
Basic Earnings Per Share $0.63 $0.61
Diluted Earnings Per Share $0.63 $0.61
COMMON SHARES
Basic Shares Outstanding 56.07M 57.16M
Diluted Shares Outstanding 56.50M 57.63M

Balance Sheet

Concept 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $117.4M $132.8M
YoY Change -11.6% 3.59%
Cash & Equivalents $117.4M $132.8M
Short-Term Investments
Other Short-Term Assets $71.10M $68.70M
YoY Change 3.49% 7.34%
Inventory $43.14M $35.30M
Prepaid Expenses
Receivables $301.5M $194.8M
Other Receivables $0.00 $0.00
Total Short-Term Assets $533.1M $431.4M
YoY Change 23.57% -9.31%
LONG-TERM ASSETS
Property, Plant & Equipment $439.4M $286.2M
YoY Change 53.53% 4.61%
Goodwill $1.226B
YoY Change
Intangibles $925.9M
YoY Change
Long-Term Investments
YoY Change
Other Assets $102.1M $93.30M
YoY Change 9.43% 3.32%
Total Long-Term Assets $2.792B $2.480B
YoY Change 12.55% 4.07%
TOTAL ASSETS
Total Short-Term Assets $533.1M $431.4M
Total Long-Term Assets $2.792B $2.480B
Total Assets $3.325B $2.912B
YoY Change 14.18% 1.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $63.80M $85.10M
YoY Change -25.03% -58.41%
Accrued Expenses $320.3M $300.8M
YoY Change 6.48% 49.88%
Deferred Revenue $271.5M
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $7.800M
YoY Change
Total Short-Term Liabilities $814.5M $678.3M
YoY Change 20.08% -18.57%
LONG-TERM LIABILITIES
Long-Term Debt $789.6M $633.5M
YoY Change 24.64% 47.94%
Other Long-Term Liabilities $376.5M $246.6M
YoY Change 52.68% -14.64%
Total Long-Term Liabilities $789.6M $880.1M
YoY Change -10.28% 22.73%
TOTAL LIABILITIES
Total Short-Term Liabilities $814.5M $678.3M
Total Long-Term Liabilities $789.6M $880.1M
Total Liabilities $2.127B $1.716B
YoY Change 23.95% 1.52%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.197B $1.195B
YoY Change
Total Liabilities & Shareholders Equity $3.325B $2.912B
YoY Change 14.18% 1.85%

Cashflow Statement

Concept 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income $35.40M $34.90M
YoY Change 1.43% -49.27%
Depreciation, Depletion And Amortization $43.68M $39.83M
YoY Change 9.66% 53.8%
Cash From Operating Activities $188.4M $168.7M
YoY Change 11.68% -28.67%
INVESTING ACTIVITIES
Capital Expenditures $21.40M $15.40M
YoY Change 38.96% -39.61%
Acquisitions
YoY Change
Other Investing Activities -$130.1M -$198.5M
YoY Change -34.46% 526.18%
Cash From Investing Activities -$151.5M -$213.9M
YoY Change -29.17% 274.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -28.40M 60.50M
YoY Change -146.94% -146.11%
NET CHANGE
Cash From Operating Activities 188.4M 168.7M
Cash From Investing Activities -151.5M -213.9M
Cash From Financing Activities -28.40M 60.50M
Net Change In Cash 8.500M 15.30M
YoY Change -44.44% -68.26%
FREE CASH FLOW
Cash From Operating Activities $188.4M $168.7M
Capital Expenditures $21.40M $15.40M
Free Cash Flow $167.0M $153.3M
YoY Change 8.94% -27.35%

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JOHN WILEY & SONS, INC.
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<span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;">Certain prior year amounts have been reclassified to conform to the current year’s presentation. The Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> January 31, 2019</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;">, includes a reclassification of $4.5</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> million, between Operating Activities within the Net Change In Operating Assets and Liabilities and Investing Activities related to costs to fulfill a contract and Product Development Spending. In addition, for the nine months ended</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> January 31, 2019, amortization expense related to costs to fulfill a contract of $1.9</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> million was reclassified from Amortization of Product Development Assets to Other Non-Cash Charges within Operating Activities.</span>
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<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Note 1 </span>—<span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Basis of Presentation</span></div> <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><br/></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;">Throughout this report, when we refer to “Wiley,” the “Company,” “we,” “our,” or “us,” we are referring to John Wiley &amp; Sons, Inc. and all our subsidiaries, except where the context indicates otherwise.</span></div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Our Unaudited Condensed Consolidated Financial Statements include all the accounts of the Company and our subsidiaries. We have eliminated all intercompany transactions and balances in consolidation. In the opinion of management, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the Unaudited Condensed Consolidated Financial Condition, Results of Operations, Comprehensive Income and Cash Flows for the periods presented. Operating results for the interim period are not necessarily indicative of the results expected for the full year. All amounts are in thousands, except per share amounts, and approximate due to rounding. These financial statements should be read in conjunction with the most recent audited consolidated financial statements included in our Form 10-K for the fiscal year ended April 30, 2019 as filed with the SEC on July 1, 2019 (“2019 Form 10-K”).</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Our Unaudited Condensed Consolidated Financial Statements were prepared in accordance with the interim reporting requirements of the SEC. As permitted under those rules, annual footnotes or other financial information that are normally required by U.S. GAAP have been condensed or omitted. The preparation of our Unaudited Condensed Consolidated Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">During the third quarter of 2020, we identified an immaterial error within our Unaudited Condensed Consolidated Statement of Financial Position, including the results for the fiscal year ended April 30, 2019. Certain consideration received for services not yet performed, mainly for our annual subscription licensing revenue agreements, was presented as a reduction to Accounts Receivable, Net, rather than an increase to Contract Liabilities. The correction increases Accounts Receivable, Net and increases Contract Liabilities by approximately $11.8 million for the fiscal year ended April 30, 2019. There was no impact on Revenue, Net, Operating Income, Net Income, Earnings Per Share, or Net Cash Provided by Operating Activities or the Unaudited Condensed Consolidated Statements of Cash Flows. Management has evaluated all relevant quantitative and qualitative factors and has concluded that the error is not material to the Condensed Consolidated Statement of Financial Position for the previously reported periods. We have revised our accompanying Unaudited Condensed Consolidated Statement of Financial Position to correct this for fiscal year ended April 30, 2019 and any related disclosures. <span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">The current policy for our subscription licensing agreements is to record accounts receivable when performance occurs and recognize contract liabilities once the invoice is due, or cash payment is received from the customer.</span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><br/></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;">Certain prior year amounts have been reclassified to conform to the current year’s presentation. The Unaudited Condensed Consolidated Statements of Cash Flows for the nine months ended</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> January 31, 2019</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;">, includes a reclassification of $4.5</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> million, between Operating Activities within the Net Change In Operating Assets and Liabilities and Investing Activities related to costs to fulfill a contract and Product Development Spending. In addition, for the nine months ended</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> January 31, 2019, amortization expense related to costs to fulfill a contract of $1.9</span><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; color: #000000;"> million was reclassified from Amortization of Product Development Assets to Other Non-Cash Charges within Operating Activities.</span></div>
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1356866000
jwa Increase Decrease In Royalty Advances
IncreaseDecreaseInRoyaltyAdvances
100454000
jwa Restructuring Charges Net Of Credits
RestructuringChargesNetOfCredits
3562000
us-gaap Operating Income Loss
OperatingIncomeLoss
143961000
CY2020Q1 jwa Adjusted Contribution To Profit Loss
AdjustedContributionToProfitLoss
89073000
CY2019Q2 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
10722000
jwa Increase Decrease In Contract With Customer Liability Non Current
IncreaseDecreaseInContractWithCustomerLiabilityNonCurrent
5063000
CY2019Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
306631000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5110000
CY2019Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
519129000
CY2019Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
700000
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1900000
CY2020Q1 us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
1000000.0
us-gaap Capitalized Contract Cost Amortization
CapitalizedContractCostAmortization
3100000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
160781000
jwa Operating Lease Increase Decrease In Right Of Use Asset
OperatingLeaseIncreaseDecreaseInRightOfUseAsset
13300000
jwa Operating Lease Increase Decrease In Lease Liability
OperatingLeaseIncreaseDecreaseInLeaseLiability
14900000
CY2020Q1 us-gaap Lease Cost
LeaseCost
7110000
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"><span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">Note 2 </span>—<span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> Recent Accounting Standards</span></div> <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 12pt;"><br/></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; color: #000000;">Recently Adopted Accounting Standards</span></div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In February 2018, the FASB issued ASU 2018-02 “Income Statement—Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income,” which allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act. We adopted ASU 2018-02 on May 1, 2019. We did not elect to reclassify the income tax effects from comprehensive income to retained earnings for the stranded tax effects resulting from the Tax Cuts and Jobs Act. Our policy for releasing the income tax effects from accumulated other comprehensive income is when the corresponding pretax accumulated other comprehensive income items are reclassified to earnings.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Targeted Improvements to Accounting for Hedging Activities</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities,” to simplify and improve the application and financial reporting of hedge accounting. Subsequently, in November 2018, the FASB issued ASU 2018-1<span style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">6, “Derivatives and Hedging (Topic 815): Inclusion of the Secured Overnight Financing Rate (SOFR) Overnight Index Swap (OIS) Rate as a Benchmark Interest Rate for Hedge Accounting Purposes”. ASU 2017-12</span> eases the requirements for measuring and reporting hedge ineffectiveness and clarifies that changes in the fair value of hedging instruments for cash flow, net investment, and fair value hedges should be reflected in the same income statement line item as the earnings effect of the hedged item. The guidance also permits entities to designate specific components in cash flow and interest rate hedges as the hedged risk, instead of using total cash flows. ASU 2018-16 allows the use of the OIS rate based on the SOFR as a U.S. benchmark interest rate for hedge accounting purposes. We adopted ASU 2017-12, 2018-06 and 2019-04, for those portions related to ASU 2017-02, on May 1, 2019 and there was no impact to our consolidated financial statements at the date of adoption. The future impact will depend on any future hedging activities we may enter into.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Leases</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In February 2016, the FASB issued ASU 2016-02, "Leases (Topic 842)”. Subsequently, the FASB issued in March 2019, ASU 2019-01, “Leases (Topic 842): Codification Improvements”, in December 2018 ASU 2018-20, “Leases (Topic 842): Narrow Scope Improvements for Lessors”, and in July 2018 the FASB issued ASU 2018-11, “Leases (Topic 842): Targeted Improvements” and ASU 2018-10, “Codification Improvements to Topic 842, Leases”.  ASU 2016-02 requires an entity to recognize a right-of-use asset (“ROU”) and lease liability for all leases with terms of more than 12 months and provide enhanced disclosures. Recognition, measurement, and presentation of expenses depends on classification as a finance or operating lease. Similar modifications have been made to lessor accounting in-line with revenue recognition guidance.</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">The new standard provides a number of optional practical expedients in transition. We elected the practical expedients to forgo a reassessment of (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) initial direct costs.  We did not elect the practical expedient allowing the use-of-hindsight which would have required us to reassess the lease term of our leases based on all facts and circumstances through the effective date.  In addition, we did not elect the practical expedient pertaining to land easements.</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In addition, the new standard provides as a practical expedient, certain policy elections for ongoing lease accounting which we elected at the date of adoption and included the following, (i) to not separate nonlease components from the associated lease component if certain conditions are met, and (ii) to not recognize ROU assets and lease liabilities for leases that qualify as short-term.</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">A modified retrospective transition approach was required, applying the standard to all leases existing at the date of initial application. A company could choose to use either (1) its effective date or (2) the beginning of the earliest comparative period presented in the financial statements as of its date of initial application. We adopted the new standard on May 1, 2019 and used the effective date as the date of initial application. Accordingly, previously reported financial information was not updated, and the disclosures required under the new standard will not be provided for dates and periods before May 1, 2019. </div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">At adoption, we recognized operating lease liabilities of $178 million based on the present value of the remaining minimum rental payments for existing operating leases and ROU assets of $142 million on our Unaudited Condensed Consolidated Statement of Financial Position. The difference between the ROU assets and operating lease liabilities represents the existing deferred rent liabilities, prepaid rent balances, and applicable restructuring liabilities, which were reclassified upon adoption to reduce the measurement of the ROU assets. The adoption of the standard did not have an impact on our Unaudited Condensed Consolidated Statement of Shareholders’ Equity, Condensed Consolidated Statement of Income or Condensed Consolidated Statement of Cash Flow. See Note 5, “Operating Leases”, for further details on our operating leases.</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold;"><span style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-style: italic; font-weight: bold; color: #000000;">Recently Issued Accounting Standards</span></div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Simplifying the Accounting for Income Taxes</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes.”  This ASU is intended to simplify various aspects related to accounting for income taxes, eliminates certain exceptions within Topic 740, “Income Taxes” and clarifies certain aspects of the current guidance to promote consistent application.  The standard is effective for us on May 1, 2021, and early adoption is permitted in any interim period for which financial statements have not yet been issued.  We are currently assessing the impact the new guidance will have on our consolidated financial statements.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Intangibles-Goodwill and Other-Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In August 2018, the FASB issued ASU 2018-15, “Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract.” ASU 2018-15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The standard is effective for us on May 1, 2020, and interim periods within that fiscal year, with early adoption permitted. We are currently assessing the impact the new guidance will have on our consolidated financial statements.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Changes to the Disclosure Requirements for Defined Benefit Plans</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In August 2018, the FASB issued ASU 2018-14, “Compensation-Retirement Benefits-Defined Benefit Plans-General (Subtopic 715-20): Disclosure Framework-Changes to the Disclosure Requirements for Defined Benefit Plans.” ASU 2018-14 removes certain disclosures that are not considered cost beneficial, clarifies certain required disclosures and added additional disclosures. The standard is effective for us on May 1, 2021, with early adoption permitted. The amendments in ASU 2018-14 would need to be applied on a retrospective basis.  We are currently assessing the impact the new guidance will have on our disclosures.</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Changes to the Disclosure Requirements for Fair Value Measurement</div> <div style="text-align: left;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement.” ASU 2018-13 removes, modifies and added disclosures. The standard is effective for us on May 1, 2020, with early adoption permitted. Certain disclosures in ASU 2018-13 would need to be applied on a retrospective basis and others on a prospective basis. We are currently assessing the impact the new guidance will have on our disclosures.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Simplifying the Test for Goodwill Impairment</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In January 2017, the FASB issued ASU 2017-04, “Intangibles–Goodwill and Other (Topic 350): “Simplifying the Test for Goodwill Impairment”, which simplifies the measurement of a potential goodwill impairment charge by eliminating the requirement to calculate an implied fair value of the goodwill based on the fair value of a reporting unit’s other assets and liabilities. The new guidance eliminates the implied fair value method and instead measures a potential impairment charge based on the excess of a reporting unit’s carrying value compared to its fair value. The impairment charge cannot exceed the total amount of goodwill allocated to that reporting unit. The standard is effective for us on May 1, 2020, with early adoption permitted. Based on our most recent annual goodwill impairment test completed in the year ended April 30, 2019, we expect no impact upon adoption.</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">Measurement of Credit Losses on Financial Instruments</div> <div style="text-align: justify;"><span style="font-size: 12pt; font-family: 'Times New Roman', Times, serif;"><br/></span></div> <div style="text-align: justify; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">In June 2016, the FASB issued ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326), Measurement of Credit Losses on Financial Instruments.” Subsequently, in May 2019, the FASB issued ASU 2019-05 - "Financial Instruments—Credit Losses (Topic 326): Targeted Transition Relief”, in April 2019, the FASB issued ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” in November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” in November 2019, the FASB issued ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments-Credit Losses,” and in February 2020, the FASB issued ASU 2020-02, “Financial Instruments—Credit Losses (Topic 326) and Leases (Topic 842)—Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 119 and Update to SEC Section on Effective Date Related to Accounting Standards Update No. 2016-02, Leases (Topic 842)  (SEC Update)”. ASU 2016-13 requires entities to measure all expected credit losses for most financial assets held at the reporting date based on an expected loss model which includes historical experience, current conditions, and reasonable and supportable forecasts. Entities will now use forward-looking information to better form their credit loss estimates. ASU 2016-13 also requires enhanced disclosures to help financial statement users better understand significant estimates and judgments used in estimating credit losses, as well as the credit quality and underwriting standards of an entity’s portfolio. ASU 2016-13, ASU 2019-05, ASU 2019-04, ASU 2018-19, ASU 2019-11 and ASU 2020-02 are effective for us on May 1, 2020, including interim periods within those fiscal periods, with early adoption permitted. We are currently assessing the impact the new guidance will have on our consolidated financial statements.</div>
jwa Contract With Customer Liability Revenue Recognized Percentage
ContractWithCustomerLiabilityRevenueRecognizedPercentage
0.85
CY2020Q1 us-gaap Sublease Income
SubleaseIncome
180000
jwa Adjusted Contribution To Profit Loss
AdjustedContributionToProfitLoss
273196000
CY2020Q1 jwa Adjusted General And Administrative Expense
AdjustedGeneralAndAdministrativeExpense
37281000
us-gaap Sublease Income
SubleaseIncome
519000
CY2020Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
6286000
us-gaap Operating Lease Cost
OperatingLeaseCost
19346000
CY2020Q1 us-gaap Variable Lease Cost
VariableLeaseCost
1004000
us-gaap Variable Lease Cost
VariableLeaseCost
3122000
us-gaap Lease Cost
LeaseCost
21949000
CY2020Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P10Y
CY2020Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0591
us-gaap Operating Lease Payments
OperatingLeasePayments
22029000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
9372000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
22938000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
22061000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
135373000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
243556000
CY2020Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
63825000
CY2020Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
179731000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
18950000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
160781000
CY2020Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-1125000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5400000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6100000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15700000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
15000000.0
CY2020Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
5561000
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
6686000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
7358000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
-3040000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
10398000
CY2019Q1 us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
14550000
CY2019Q1 us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
252000
CY2019Q1 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
14298000
us-gaap Oci Before Reclassifications Net Of Tax Attributable To Parent
OciBeforeReclassificationsNetOfTaxAttributableToParent
-34593000
us-gaap Reclassification From Aoci Current Period Net Of Tax Attributable To Parent
ReclassificationFromAociCurrentPeriodNetOfTaxAttributableToParent
93000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-34686000
CY2019Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
449367000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1356866000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1308890000
CY2020Q1 jwa Contribution To Profit Loss
ContributionToProfitLoss
87488000
CY2019Q1 jwa Contribution To Profit Loss
ContributionToProfitLoss
90810000
jwa Contribution To Profit Loss
ContributionToProfitLoss
241770000
jwa Contribution To Profit Loss
ContributionToProfitLoss
270296000
CY2020Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
56083000
CY2019Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
57200000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
56328000
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
57383000
CY2020Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
10000
CY2019Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
42000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
16000
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
53000
CY2020Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56073000
CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57158000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56312000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
57330000
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
430000
CY2019Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
468000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
386000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
552000
CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56503000
CY2019Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57626000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
56698000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57882000
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2020Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2019Q1 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
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CY2020Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
48494000
CY2019Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
50346000
jwa Adjusted General And Administrative Expense
AdjustedGeneralAndAdministrativeExpense
125673000
CY2020Q1 jwa Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
51792000
CY2019Q1 jwa Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
49998000
jwa Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
134478000
jwa Adjusted Operating Income Loss
AdjustedOperatingIncomeLoss
147523000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
28426000
CY2020Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
25386000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
39833000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
128538000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
119656000
CY2020Q1 jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
95473000
CY2019Q1 jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
89831000
jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
263016000
jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
267179000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
35443000
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
34942000
us-gaap Net Income Loss
NetIncomeLoss
83757000
us-gaap Net Income Loss
NetIncomeLoss
105021000
CY2020Q1 us-gaap Interest Expense
InterestExpense
6309000
CY2019Q1 us-gaap Interest Expense
InterestExpense
5346000
us-gaap Interest Expense
InterestExpense
19173000
us-gaap Interest Expense
InterestExpense
11750000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
9229000
CY2019Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
10275000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
21355000
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
30599000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
43681000
CY2019Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
39833000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
128538000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
119656000
CY2020Q1 jwa Earnings Before Interest Taxes Depreciation And Amortization
EarningsBeforeInterestTaxesDepreciationAndAmortization
94662000
CY2019Q1 jwa Earnings Before Interest Taxes Depreciation And Amortization
EarningsBeforeInterestTaxesDepreciationAndAmortization
90396000
jwa Earnings Before Interest Taxes Depreciation And Amortization
EarningsBeforeInterestTaxesDepreciationAndAmortization
252823000
jwa Earnings Before Interest Taxes Depreciation And Amortization
EarningsBeforeInterestTaxesDepreciationAndAmortization
267026000
CY2020Q1 jwa Restructuring Charges Net Of Credits
RestructuringChargesNetOfCredits
3298000
CY2019Q1 jwa Restructuring Charges Net Of Credits
RestructuringChargesNetOfCredits
-348000
jwa Restructuring Charges Net Of Credits
RestructuringChargesNetOfCredits
18034000
CY2020Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1745000
CY2019Q1 us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-2525000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-1761000
us-gaap Foreign Currency Transaction Gain Loss Before Tax
ForeignCurrencyTransactionGainLossBeforeTax
-4308000
CY2020Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
4232000
CY2019Q1 us-gaap Interest And Other Income
InterestAndOtherIncome
2742000
us-gaap Interest And Other Income
InterestAndOtherIncome
9602000
us-gaap Interest And Other Income
InterestAndOtherIncome
7717000
CY2019Q1 jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
89831000
jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
263016000
jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
267179000
us-gaap Operating Income Loss
OperatingIncomeLoss
116444000
CY2019Q1 jwa Adjusted Contribution To Profit Loss
AdjustedContributionToProfitLoss
90829000
jwa Adjusted Contribution To Profit Loss
AdjustedContributionToProfitLoss
251920000
CY2019Q1 jwa Adjusted General And Administrative Expense
AdjustedGeneralAndAdministrativeExpense
40831000
jwa Adjusted General And Administrative Expense
AdjustedGeneralAndAdministrativeExpense
117442000
CY2020Q1 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
43681000
CY2020Q1 jwa Adjusted Earnings Before Interest Taxes Depreciation And Amortization
AdjustedEarningsBeforeInterestTaxesDepreciationAndAmortization
95473000
CY2020Q1 us-gaap Inventory Gross
InventoryGross
37381000
CY2019Q2 us-gaap Inventory Gross
InventoryGross
36203000
CY2020Q1 jwa Inventory Reserve For Estimated Sales Returns
InventoryReserveForEstimatedSalesReturns
-9929000
CY2019Q2 jwa Inventory Reserve For Estimated Sales Returns
InventoryReserveForEstimatedSalesReturns
-3739000
CY2020Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
4171000
CY2019Q2 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
4360000
CY2020Q1 us-gaap Inventory Net
InventoryNet
43139000
CY2019Q2 us-gaap Inventory Net
InventoryNet
35582000
CY2020Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
707711000
CY2020Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
35766000
CY2019Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
33736000
CY2020Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1291000
CY2019Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
2094000
CY2020Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
324000
CY2019Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
373000
CY2019Q2 us-gaap Goodwill
Goodwill
1095666000
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
127091000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
3500000
CY2020Q1 us-gaap Goodwill
Goodwill
1226257000
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.226
CY2020Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-2410000
CY2019Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
648440000
CY2020Q1 jwa Indefinite Lived Intangible Assets Excluding Goodwill Net Of Accumulated Impairment
IndefiniteLivedIntangibleAssetsExcludingGoodwillNetOfAccumulatedImpairment
218223000
CY2019Q2 jwa Indefinite Lived Intangible Assets Excluding Goodwill Net Of Accumulated Impairment
IndefiniteLivedIntangibleAssetsExcludingGoodwillNetOfAccumulatedImpairment
217132000
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
925934000
CY2019Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
865572000
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.207
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.227
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.203
CY2020Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
283000
CY2019Q1 us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
226000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
1600000
us-gaap Defined Benefit Plan Service Cost
DefinedBenefitPlanServiceCost
688000
CY2020Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
5919000
CY2019Q1 us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
6103000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
18103000
us-gaap Defined Benefit Plan Interest Cost
DefinedBenefitPlanInterestCost
18484000
CY2020Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
10217000
CY2019Q1 us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
9638000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
30162000
us-gaap Defined Benefit Plan Expected Return On Plan Assets
DefinedBenefitPlanExpectedReturnOnPlanAssets
29260000
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-18000
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-24000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-56000
us-gaap Defined Benefit Plan Amortization Of Prior Service Cost Credit
DefinedBenefitPlanAmortizationOfPriorServiceCostCredit
-72000
CY2020Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1623000
CY2019Q1 us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-1429000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-4804000
CY2019Q1 us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-1904000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-5711000
us-gaap Defined Benefit Plan Net Periodic Benefit Cost
DefinedBenefitPlanNetPeriodicBenefitCost
-5823000
CY2020Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
3800000
CY2019Q1 us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
15800000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
11800000
us-gaap Defined Benefit Plan Contributions By Employer
DefinedBenefitPlanContributionsByEmployer
22900000
CY2020Q1 us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
3200000
CY2019Q1 us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
2600000
us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
10600000
us-gaap Defined Contribution Plan Administrative Expenses
DefinedContributionPlanAdministrativeExpenses
9900000
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
797400000
CY2020Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
789600000
CY2020Q1 us-gaap Long Term Debt
LongTermDebt
797400000
CY2020Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
700000
CY2020Q1 us-gaap Longterm Debt Percentage Bearing Variable Interest Amount
LongtermDebtPercentageBearingVariableInterestAmount
798100000
us-gaap Defined Benefit Plan Amortization Of Gains Losses
DefinedBenefitPlanAmortizationOfGainsLosses
-4337000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
10000000.0
CY2019Q1 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
10000000.0

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