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Goodwill, Service Contracts and Other Assets, Net | 9 Months Ended
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Feb. 28, 2023
Goodwill, Service Contracts And Other Assets [Abstract] |
Goodwill, Service Contracts and Other Assets, Net | Goodwill, Service Contracts and Other Assets, Net Changes in the carrying amount of goodwill and service contracts for the nine months ended February 28, 2023, by reportable operating segment and All Other, are as follows:
Goodwill (in thousands) | Uniform Rental and Facility Services |  | First Aid and Safety Services |  | All Other |  | Total
Balance as of June 1, 2022 | $ | 2,635,099 |  |  | $ | 285,769 |  |  | $ | 122,108 |  |  | $ | 3,042,976 |
Goodwill acquired | 13,370 |  |  | 6,642 |  |  | 756 |  |  | 20,768 |
Foreign currency translation | (18,466) |  |  | (1,636) |  |  | (64) |  |  | (20,166) |
Balance as of February 28, 2023 | $ | 2,630,003 |  |  | $ | 290,775 |  |  | $ | 122,800 |  |  | $ | 3,043,578 |
Service Contracts (in thousands) | Uniform Rental and Facility Services |  | First Aid and Safety Services |  | All Other |  | Total
Balance as of June 1, 2022 | $ | 349,634 |  |  | $ | 24,144 |  |  | $ | 17,860 |  |  | $ | 391,638 |
Service contracts acquired | 5,679 |  |  | 1,823 |  |  | 1,154 |  |  | 8,656 |
Service contracts amortization | (32,454) |  |  | (3,845) |  |  | (3,267) |  |  | (39,566) |
Foreign currency translation | (3,432) |  |  | (150) |  |  | — |  |  | (3,582) |
Balance as of February 28, 2023 | $ | 319,427 |  |  | $ | 21,972 |  |  | $ | 15,747 |  |  | $ | 357,146 |
Information regarding Cintas’ service contracts and other assets, net is as follows:
| As of February 28, 2023 |  |  | As of May 31, 2022
(In thousands) | Carrying Amount |  | Accumulated Amortization |  | Net |  |  | Carrying Amount |  | Accumulated Amortization |  | Net
Service contracts | $ | 1,001,864 |  |  | $ | 644,718 |  |  | $ | 357,146 |  |  |  | $ | 1,001,311 |  |  | $ | 609,673 |  |  | $ | 391,638 |
Capitalized contract costs (1) | $ | 637,891 |  |  | $ | 389,140 |  |  | $ | 248,751 |  |  |  | $ | 551,582 |  |  | $ | 319,358 |  |  | $ | 232,224 |
Noncompete and consulting agreements | 51,563 |  |  | 45,131 |  |  | 6,432 |  |  |  | 50,637 |  |  | 43,775 |  |  | 6,862 |
Other | 142,813 |  |  | 21,376 |  |  | 121,437 |  |  |  | 125,941 |  |  | 20,917 |  |  | 105,024 |
Total other assets, net | $ | 832,267 |  |  | $ | 455,647 |  |  | $ | 376,620 |  |  |  | $ | 728,160 |  |  | $ | 384,050 |  |  | $ | 344,110 |
(1) The current portion of capitalized contract costs, included in prepaid expenses and other current assets on the consolidated condensed balance sheets as of February 28, 2023 and May 31, 2022, is $90.4 million and $83.7 million, respectively. Amortization expense for service contracts and other assets, was $37.8 million and $38.0 million for the three months ended February 28, 2023 and 2022, respectively. For the nine months ended February 28, 2023 and 2022, amortization expense for service contracts and other assets was $111.5 million and $111.4 million, respectively. These expenses are recorded in selling and administrative expenses on the consolidated condensed statements of income. As of February 28, 2023, the estimated future amortization expense for service contracts and other assets, excluding any future acquisitions and commissions to be earned, is as follows:
Fiscal Year (In thousands) |  |
2023 (remaining three months) |  | $ | 37,864 |
2024 |  | 142,394 |
2025 |  | 127,831 |
2026 |  | 107,040 |
2027 |  | 87,552 |
Thereafter |  | 203,474 |
Total future amortization expense |  | $ | 706,155 |

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- Definition This element encapsulates entire disclosures pertaining to goodwill, service contracts and other assets. + References No definition available. + Details
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Namespace Prefix: | ctas_
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