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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2019
May 31, 2018
Current Assets    
Cash and cash equivalents $ 41,688 $ 83,074
Marketable securities 225,836 127,736
Accounts receivable, less allowance of $1,700 and $1,550 at May 31, 2019 and 2018, respectively 82,582 79,086
Inventories 85,992 76,005
Prepaid expenses and other current assets 13,431 9,888
Total Current Assets 449,529 375,789
Property and Equipment    
Land and improvements 5,324 4,730
Building and improvements 46,205 44,008
Machinery and equipment 82,752 74,911
Furniture and fixtures 3,895 3,568
Construction in progress 2,294 2,654
Property, Plant and Equipment, Gross 140,470 129,871
Less accumulated depreciation 65,623 56,802
Net Property and Equipment 74,847 73,069
Other Assets    
Goodwill 103,619 99,558
Other non-amortizable intangible assets 15,649 14,938
Amortizable intangible assets, net of accumulated amortization of $40,835 and $37,049 at May 31, 2019 and 2018, respectively 52,096 54,655
Total Other Assets 171,364 169,151
Total Assets 695,740 618,009
Current Liabilities    
Accounts payable 19,063 20,750
Accrued compensation 7,085 6,065
Income taxes 601 165
Other accruals 11,502 11,708
Total Current Liabilities 38,251 38,688
Deferred Income Taxes 15,618 14,103
Other Non-Current Liabilities 3,972 5,043
Total Liabilities 57,841 57,834
Commitments and Contingencies (note 7)
Equity    
Preferred stock, $1.00 par value — shares authorized 100,000; none issued and outstanding 0 0
Common stock, $0.16 par value — shares authorized 120,000,000; 52,216,589 and 51,735,732 shares issued and outstanding at May 31, 2019 and 2018, respectively 8,355 8,278
Additional paid-in capital 221,937 202,572
Accumulated other comprehensive loss (11,640) (9,746)
Retained earnings 419,247 359,071
Total Neogen Corporation and Subsidiaries Stockholders' Equity 637,899 560,175
Total Liabilities and Stockholders' Equity $ 695,740 $ 618,009