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Goodwill | 3 Months Ended
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Aug. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill | NOTE 16 — GOODWILL We account for goodwill and other intangible assets in accordance with the provisions of ASC 350 and account for business combinations using the acquisition method of accounting and, accordingly, the assets and liabilities of the entities acquired are recorded at their estimated fair values at the acquisition date. Goodwill represents the excess of the purchase price paid over the fair value of net assets acquired, including the amount assigned to identifiable intangible assets. We assess goodwill for impairment annually during the fourth quarter, or more frequently, if events and circumstances indicate impairment may have occurred. We test goodwill for impairment at the reporting unit level. Goodwill is assigned to reporting units that are expected to benefit from the synergies of the business combination as of the acquisition date. Once goodwill has been allocated to the reporting units, it no longer retains its identification with a particular acquisition and becomes identified with the reporting unit in its entirety. Accordingly, the fair value of the reporting unit as a whole is available to support the recoverability of its goodwill. We evaluate our reporting units when changes in our operating structure occur, and if necessary, reassign goodwill using a relative fair value allocation approach. The following table summarizes the changes in the carrying amount of goodwill, by reportable segment, for the periods presented:
|  | CPG |  |  | PCG |  |  | Consumer |  |  | SPG |  |  |  |  |
(In thousands) |  | Segment |  |  | Segment |  |  | Segment |  |  | Segment |  |  | Total |
Balance as of May 31, 2020 |  | $ | 405,354 |  |  | $ | 185,404 |  |  | $ | 496,218 |  |  | $ | 163,090 |  |  | $ | 1,250,066 |
Translation adjustments & other |  |  | 21,396 |  |  |  | 265 |  |  |  | 4,075 |  |  |  | 2,732 |  |  |  | 28,468 |
Balance as of August 31, 2020 |  |  | 426,750 |  |  |  | 185,669 |  |  |  | 500,293 |  |  |  | 165,822 |  |  |  | 1,278,534 |

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- Definition The entire disclosure for goodwill. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2144439 + Details
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