{"url_path":"/sec/wly/10-k/2026/item-16","section_key":"item-16","section_title":"Item 16 Form 10-K Summary","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-24","source_url":"https://www.sec.gov/Archives/edgar/data/107140/0001628280-26-045111-index.html","accession_number":"0001628280-26-045111","cik":"0000107140","ticker":"WLY","issuer_name":"JOHN WILEY & SONS, INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/107140/0001628280-26-045111-index.html","primary_entity_key":"0000107140","primary_entity_name":"JOHN WILEY & SONS, INC."},"word_count":658,"has_tables":true,"body_markdown":"Item 16. Form 10-K Summary\n\nNot applicable.\n\n(2) Financial Statement Schedule\n\nSchedule II\n\nJOHN WILEY & SONS, INC. AND SUBSIDIARIES\n\nVALUATION AND QUALIFYING ACCOUNTS\n\nFOR THE YEARS ENDED APRIL 30, 2026, 2025, AND 2024\n\n(Dollars in thousands)\n\nDescriptionBalance at\nBeginning\nof PeriodCharged to\nExpenses\nDeductions\n\nFrom Reserves\n\nand Other(1)\nBalance at\nEnd of Period\n\nYear Ended April 30, 2026\n\nAllowance for sales returns(3)\n$8,984 $14,197 $16,102 $7,079 \n\nAllowance for doubtful accounts$13,172 $2,478 $1,880 $13,770 \n\nAllowance for inventory obsolescence$11,122 $5,663 $8,120 $8,665 \n\nValuation allowance on deferred tax assets(2)\n$77,309 $(70,027)$— $7,282 \n\nYear Ended April 30, 2025\n\nAllowance for sales returns(3)\n$14,448 $12,529 $17,993 $8,984 \n\nAllowance for doubtful accounts$17,297 $839 $4,964 $13,172 \n\nAllowance for inventory obsolescence$11,919 $4,705 $5,502 $11,122 \n\nValuation allowance on deferred tax assets(2)\n$53,498 $20,816 $(2,995)$77,309 \n\nYear Ended April 30, 2024\n\nAllowance for sales returns(3)\n$14,419 $21,158 $21,129 $14,448 \n\nAllowance for doubtful accounts$18,662 $3,844 $5,209 $17,297 \n\nAllowance for inventory obsolescence$12,990 $5,906 $6,977 $11,919 \n\nValuation allowance on deferred tax assets(2)\n$27,448 $24,620 $(1,430)$53,498 \n\n(1)\n\nDeductions From Reserves and Other for the years ended April 30, 2026, 2025, and 2024 include foreign exchange translation adjustments. Included in Allowance for doubtful accounts are accounts written off, less recoveries as well as amounts reclassified as held-for-sale or sold as of April 30, 2024. Included in Allowance for inventory obsolescence are items removed from inventory.\n\n(2)\n\nIn fiscal year 2024, due to losses in the US resulting from impairments, restructuring, and acceleration of amortization expense on capitalized software, we concluded it was more-likely-than-not that a portion of our deferred tax asset would not be realized. As a result, we established a valuation allowance of $53.5 million. During fiscal year 2025, we increased this valuation allowance to $77.3 million, because of an increase in the US deferred tax assets attributable primarily to interest expense disallowance and intangible and fixed assets. During fiscal year 2026, we released approximately $70.0 million of valuation allowance previously recorded against US deferred tax assets. The valuation allowance release was driven by management's conclusion that it is more likely than not that substantially all US federal and state deferred tax assets will be realized based on the weight of available positive and negative evidence.\n\n(3)\n\nAllowance for sales returns represents anticipated returns net of a recovery of inventory and royalty costs. The provision is reported as a reduction of gross sales to arrive at revenue and the reserve balance is reported as an increase in Contract liabilities with a corresponding increase in Inventories, net and a reduction in Accrued royalties for the years ended April 30, 2026, 2025, and 2024.\n\n116\n\n[Index](#i4999d179a1ee4db3afe68151d34a8db6_7)\n\nSIGNATURES\n\nPursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.\n\nJOHN WILEY & SONS, INC.\n\n(Company)\n\nDated: June 24, 2026\nBy:/s/ Matthew S. Kissner\n\nMatthew S. Kissner\n\nPresident and Chief Executive Officer\n\nPursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the Company and in the capacities and on the dates indicated.\n\nSignaturesTitlesDated\n\n/s/ Matthew S. Kissner\nPresident and Chief Executive Officer and Director\nJune 24, 2026\n\nMatthew S. Kissner\n\n/s/ Craig AlbrightExecutive Vice President and Chief Financial OfficerJune 24, 2026\n\nCraig Albright\n\n/s/ Christopher F. CaridiSenior Vice President, Chief Accounting Officer and Finance Transformation LeaderJune 24, 2026\n\nChristopher F. Caridi\n\n/s/ Jesse C. WileyChairman of the BoardJune 24, 2026\n\nJesse C. Wiley\n\n/s/ Katya D. AndresenDirectorJune 24, 2026\n\nKatya D. Andresen\n\n/s/ Mari J. BakerDirectorJune 24, 2026\n\nMari J. Baker\n\n/s/ David C. DobsonDirectorJune 24, 2026\n\nDavid C. Dobson\n\n/s/ Brian O. HemphillDirectorJune 24, 2026\n\nBrian O. Hemphill\n\n/s/ Karen N. Madden\nDirectorJune 24, 2026\n\nKaren N. Madden\n\n/s/ Raymond W. McDaniel, Jr.DirectorJune 24, 2026\n\nRaymond W. McDaniel, Jr.\n\n/s/ William J. PesceDirectorJune 24, 2026\n\nWilliam J. Pesce\n\n/s/ Inder SinghDirectorJune 24, 2026\n\nInder Singh\n\n117"}