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Consolidated Balance Sheets - USD ($)
May 31, 2020
May 31, 2019
Current Assets    
Cash and cash equivalents $ 66,269,000 $ 41,688,000
Marketable securities 277,404,000 225,836,000
Accounts receivable, net of allowance of $1,350 and $1,700 at May 31, 2020 and 2019, respectively 84,681,000 82,582,000
Inventories 95,053,000 85,992,000
Prepaid expenses and other current assets 13,999,000 13,431,000
Total Current Assets 537,406,000 449,529,000
Property and Equipment    
Land and improvements 5,456,000 5,324,000
Building and improvements 48,881,000 46,205,000
Machinery and equipment 90,351,000 82,752,000
Furniture and fixtures 4,324,000 3,895,000
Construction in progress 4,968,000 2,294,000
Property, Plant and Equipment, Gross 153,980,000 140,470,000
Less accumulated depreciation 75,309,000 65,623,000
Net Property and Equipment 78,671,000 74,847,000
Other Assets    
Right of use assets 1,952,000  
Goodwill 110,340,000 103,619,000
Other non-amortizable intangible assets 15,217,000 15,510,000
Amortizable intangible assets, net of accumulated amortization of $44,690 and $40,835 at May 31, 2020 and 2019, respectively 51,364,000 52,096,000
Other non-current assets 2,232,000 139,000
Total Other Assets 181,105,000 171,364,000
Total Assets 797,182,000 695,740,000
Current Liabilities    
Accounts payable 25,650,000 19,063,000
Accrued compensation 7,735,000 7,085,000
Income taxes 1,456,000 601,000
Other accruals 13,648,000 11,502,000
Total Current Liabilities 48,489,000 38,251,000
Deferred Income Taxes 18,125,000 15,618,000
Other Non-Current Liabilities 5,391,000 3,972,000
Total Liabilities 72,005,000 57,841,000
Commitments and Contingencies (note 7)
Stockholders' 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; 52,945,841 and 52,216,589 shares issued and outstanding at May 31, 2020 and 2019, respectively 8,471,000 8,355,000
Additional paid-in capital 257,693,000 221,937,000
Accumulated other comprehensive loss (19,709,000) (11,640,000)
Retained earnings 478,722,000 419,247,000
Total Neogen Corporation and Subsidiaries Stockholders' Equity 725,177,000 637,899,000
Total Liabilities and Stockholders' Equity $ 797,182,000 $ 695,740,000