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Share Name | Share Symbol | Market | Type |
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Scholastic Corporation | NASDAQ:SCHL | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.08 | 0.22% | 36.23 | 36.26 | 36.29 | 36.37 | 36.08 | 36.22 | 27,190 | 18:54:41 |
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ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.
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Table of Contents
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Page
Number
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Financial Statements
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS
(Amounts in thousands)
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS
(Amounts in thousands)
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Year ended December 31, 2018
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Additions:
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Interest and dividend income
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$
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6,628
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Net decrease in fair value of investments
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(26,720
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)
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Transfer from qualified retirement plan
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3,066
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Total additions
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$
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(17,026
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)
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Contributions:
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Participants
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$
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22,115
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Employer match, net of forfeitures
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7,326
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Rollovers
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2,678
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Total contributions
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$
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32,119
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Net additions
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$
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15,093
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Deductions:
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Distributions to participants
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$
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(35,516
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)
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Fees
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(572
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)
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Total deductions
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$
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(36,088
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)
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Net decrease
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$
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(20,995
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)
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Net assets available for benefits:
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Beginning of year
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462,861
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End of year
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$
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441,866
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
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1.
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DESCRIPTION OF THE PLAN
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
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2.
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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
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3.
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INVESTMENTS
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4.
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FAIR VALUE MEASUREMENTS
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•
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Level 1
- Unadjusted quoted prices in active markets for identical assets or liabilities at the measurement date.
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•
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Level 2
- Observable inputs other than unadjusted quoted prices in active markets for identical assets or liabilities, such as:
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◦
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Quoted prices for similar assets or liabilities in active markets
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◦
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Quoted prices for identical or similar assets or liabilities in inactive markets
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◦
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Inputs other than quoted prices that are observable for the asset or liability
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◦
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Inputs that are derived principally from or corroborated by observable market data by correlation or other means
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•
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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.
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
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Assets at Fair Value as of December 31, 2018
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Level 1
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Level 2
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Level 3
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Total
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Collective investment trust funds
(1)
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$
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216,327
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—
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—
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$
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216,327
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Mutual funds
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178,452
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—
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—
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178,452
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Stable Value Fund
(1)
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30,262
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—
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—
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30,262
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Common Stock
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8,646
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—
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—
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8,646
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Total assets at fair value
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$
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433,687
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—
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—
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$
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433,687
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Assets at Fair Value as of December 31, 2017
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Level 1
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Level 2
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Level 3
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Total
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Collective investment trust funds
(1)
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$
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223,733
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—
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—
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$
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223,733
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Mutual funds
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194,693
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—
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—
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194,693
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Stable Value Fund
(1)
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27,976
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—
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—
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27,976
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Common Stock
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8,960
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—
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—
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8,960
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Total assets at fair value
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$
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455,362
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—
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—
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$
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455,362
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5.
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TAX STATUS
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6.
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PLAN TERMINATION
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7.
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RISK AND UNCERTAINTIES
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SCHOLASTIC CORPORATION
401(k) SAVINGS AND RETIREMENT PLAN
NOTES TO FINANCIAL STATEMENTS
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8.
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RECONCILIATION TO FORM 5500
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December 31,
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2018
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2017
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Net assets available for benefits per the financial statements
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$
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441,866
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462,861
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Accrued expenses
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53
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46
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Net assets available for benefits per Form 5500
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$
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441,919
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$
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462,907
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December 31, 2018
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Changes in net assets available for benefits per the financial statements
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$
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(20,995
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)
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Change in accrued expenses
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7
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Changes in net assets available for benefits per Form 5500
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$
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(20,988
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)
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9.
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PARTIES-IN-INTEREST TRANSACTIONS
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Identity of Issuer, Borrower, Lessor or Similar Party
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Description of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value
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Number of Shares
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Cost
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Current Value
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American Beacon
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American Beacon Small Capital Value Fund Institutional
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267.4
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**
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$
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5,364
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American Funds
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American Funds Washington Mutual Investors Fund R6
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528.9
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**
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21,733
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Vanguard
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Vanguard Target Retirement Income Trust II
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266.7
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**
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8,878
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Vanguard
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Vanguard Target Retirement Trust II 2015
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300.1
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**
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9,446
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Vanguard
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Vanguard Target Retirement Trust II 2020
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785.9
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**
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24,787
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Vanguard
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Vanguard Target Retirement Trust II 2025
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1,291.7
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**
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40,352
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Vanguard
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Vanguard Target Retirement Trust II 2030
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1,212.9
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**
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37,332
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Vanguard
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Vanguard Target Retirement Trust II 2035
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1,056.4
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**
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32,760
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Vanguard
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Vanguard Target Retirement Trust II 2040
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944.3
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**
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29,982
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Vanguard
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Vanguard Target Retirement Trust II 2045
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466.5
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**
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14,812
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Vanguard
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Vanguard Target Retirement Trust II 2050
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355.6
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**
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11,345
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Vanguard
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Vanguard Target Retirement Trust II 2055
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110.1
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**
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4,704
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Vanguard
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Vanguard Target Retirement Trust II 2060
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49.1
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**
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1,655
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Vanguard
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Vanguard Target Retirement Trust II 2065
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13.2
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**
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274
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Fidelity*
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Fidelity Management Income Portfolio Fund II
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30,261.5
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**
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30,262
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T. Rowe Price
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T. Rowe Price Institutional Large Capital Core Growth
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802.5
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**
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30,198
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Vanguard
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Vanguard Total Bond Market Index Fund Institutional
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1,465.3
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**
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15,313
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Vanguard
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Vanguard Institutional Index Fund
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259.5
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**
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59,041
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Vanguard
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Vanguard Small-Cap Growth Index Fund Institutional
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263.0
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**
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11,150
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Vanguard
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Vanguard Total International Stock Index Fund Institutional
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140.3
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**
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14,236
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Vanguard
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Vanguard Mid-Cap Value Index Admiral
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46.7
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**
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2,305
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Vanguard
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Vanguard Mid-Cap Growth Index Admiral
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370.1
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19,054
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Scholastic Corporation*
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Company Stock
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214.7
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**
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8,646
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Fidelity*
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Fidelity Cash Reserves
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57.5
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**
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58
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Total investments at fair value
|
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$
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433,687
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Participant loans*
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Prime + 0.5% Interest Rate; Repayment Terms: one to ten years
|
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n/a
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n/a
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8,232
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Total net assets available for benefits
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$
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441,919
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* Indicates party-in-interest to the Plan
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** Not required as the investment is Participant-directed
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SCHOLASTIC CORPORATION 401(k) SAVINGS
AND RETIREMENT PLAN
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Date:
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June 18, 2019
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/s/ Gil A. Dickoff
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Gil A. Dickoff
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Senior Vice President and Treasurer
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Exhibit No.
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Document
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23.1
|
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Consent of Independent Registered Public Accounting Firm
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1 Year Scholastic Chart |
1 Month Scholastic Chart |
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