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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

May 31, 2020

Goodwill by Business Segment

The following table summarizes goodwill by reportable segment:

(in thousands)		Food Safety				Animal Safety				Total
Balance, May 31, 2018		$	40,001			$	59,557			$	99,558
Goodwill acquired			3,796				1,196				4,992
Goodwill and/or currency adjustments (1)			(1,244	)			313				(931	)
Balance, May 31, 2019		$	42,553			$	61,066			$	103,619
Goodwill acquired			6,254				2,095				8,349
Goodwill and/or currency adjustments (1)			(1,592	)			(36	)			(1,628	)
Balance, May 31, 2020		$	47,215			$	63,125			$	110,340

(1) Includes final purchase price allocation adjustments and currency adjustments for goodwill recorded at international locations.

Amortizable of Intangible Assets

Amortizable intangible assets consisted of the following and are included in customer-based intangibles and other non-current assets within the consolidated balance sheets:

(in thousands)		Gross Carrying Amount				Less Accumulated Amortization				Net Carrying Amount
Licenses		$	10,346			$	3,330			$	7,016
Covenants not to compete			706				407				299
Patents			8,509				4,118				4,391
Customer-based intangibles			59,847				29,898				29,949
Other products and service-related intangibles			16,646				6,937				9,709
Balance, May 31, 2020		$	96,054			$	44,690			$	51,364
Licenses		$	9,813			$	3,182			$	6,631
Covenants not to compete			862				542				320
Patents			8,158				3,570				4,588
Customer-based intangibles			57,634				28,017				29,617
Other products and service-related intangibles			16,464				5,524				10,940
Balance, May 31, 2019		$	92,931			$	40,835			$	52,096

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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X

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

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