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Consolidated Balance Sheets - USD ($)
$ in Thousands
May 31, 2022
May 31, 2021
Current Assets    
Cash and cash equivalents $ 44,473 $ 75,602
Marketable securities 336,578 305,485
Accounts receivable, net of allowance of $1,650 and $1,400 at May 31, 2022 and 2021, respectively 99,674 91,823
Inventories 122,313 100,701
Prepaid expenses and other current assets 23,760 17,840
Total Current Assets 626,798 591,451
Property and Equipment    
Land and improvements 9,485 7,783
Building and improvements 79,513 72,754
Machinery and equipment 114,180 108,194
Furniture and fixtures 6,307 6,270
Construction in progress 5,974 3,261
Property, Plant and Equipment, Gross 215,459 198,262
Less accumulated depreciation (104,875) (97,809)
Net Property and Equipment 110,584 100,453
Other Assets    
Right of use assets 3,184 2,477
Goodwill 142,704 131,476
Other non-amortizable intangible assets 15,397 15,545
Amortizable intangible assets, net of accumulated amortization of $55,416 and $53,462 at May 31, 2022 and 2021, respectively 92,106 76,771
Other non-current assets 2,156 2,019
Total Other Assets 255,547 228,288
Total Assets 992,929 920,192
Current Liabilities    
Accounts payable 34,614 23,900
Accrued compensation 11,123 11,251
Income tax payable 2,126 1,848
Deferred revenue 5,460 3,404
Other accruals 24,521 13,196
Total Current Liabilities 77,844 53,599
Deferred Income Tax Liability 17,011 21,917
Other Non-Current Liabilities 10,700 4,299
Total Liabilities 105,555 79,815
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; 107,801,094 and 107,468,304 shares issued and outstanding at May 31, 2022 and 2021, respectively 17,248 17,195
Additional paid-in capital 309,984 294,953
Accumulated other comprehensive loss (27,769) (11,375)
Retained earnings 587,911 539,604
Total Neogen Corporation and Subsidiaries Stockholders' Equity 887,374 840,377
Total Liabilities and Stockholders' Equity $ 992,929 $ 920,192