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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2021
May 31, 2020
Current Assets    
Cash and cash equivalents $ 75,602 $ 66,269
Marketable securities 305,485 277,404
Accounts receivable, net of allowance of $1,400 and $1,350 at May 31, 2021 and 2020, respectively 91,823 84,681
Inventories 100,701 95,053
Prepaid expenses and other current assets 17,840 13,999
Total Current Assets 591,451 537,406
Property and Equipment    
Land and improvements 7,783 5,456
Building and improvements 72,754 48,881
Machinery and equipment 108,194 90,351
Furniture and fixtures 6,270 4,324
Construction in progress 3,261 4,968
Property, Plant and Equipment, Gross 198,262 153,980
Less accumulated depreciation (97,809) (75,309)
Net Property and Equipment 100,453 78,671
Other Assets    
Right of use assets 2,477 1,952
Goodwill 131,476 110,340
Other non-amortizable intangible assets 15,545 15,217
Amortizable intangible assets, net of accumulated amortization of $53,462 and $44,690 at May 31, 2021 and 2020, respectively 76,771 51,364
Other non-current assets 2,019 2,232
Total Other Assets 228,288 181,105
Total Assets 920,192 797,182
Current Liabilities    
Accounts payable 23,900 25,650
Accrued compensation 11,251 7,735
Income taxes 1,848 1,456
Other accruals 16,600 13,648
Total Current Liabilities 53,599 48,489
Deferred Income Taxes 21,917 18,125
Other Non-Current Liabilities 4,299 5,391
Total Liabilities 79,815 72,005
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; 107,468,304 and 105,891,682 shares issued and outstanding at May 31, 2021 and 2020, respectively 17,195 16,943
Additional paid-in capital 294,953 249,221
Accumulated other comprehensive loss (11,375) (19,709)
Retained earnings 539,604 478,722
Total Neogen Corporation and Subsidiaries Stockholders' Equity 840,377 725,177
Total Liabilities and Stockholders' Equity $ 920,192 $ 797,182