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Segment Information and Geographic Data | 9 Months Ended
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Feb. 28, 2022
Segment Information and Geographic Data | 6. SEGMENT INFORMATION AND GEOGRAPHIC DATA We have two reportable segments: Food Safety and Animal Safety. The Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits, culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is primarily engaged in the development, production and marketing of products dedicated to animal safety, including a complete line of consumable products marketed to veterinarians and animal health product distributors; this segment also provides genomic identification and related interpretive bioinformatic services. Additionally, the Animal Safety segment produces and markets rodenticides, disinfectants and insecticides to assist in the control of rodents, insects and disease in and around agricultural, food production and other facilities. Our international operations in the United Kingdom, Mexico, Brazil, China and India originally focused on the Company’s food safety products, and each of these units reports through the Food Safety segment. In recent years, these operations have expanded to offer our complete line of products and services, including those usually associated with the Animal Safety segment such as cleaners, disinfectants, rodenticides, insecticides, veterinary instruments and genomics services. These additional products and services are managed and directed by existing management and are reported through the Food Safety segment. Neogen’s operation in Australia originally focused on providing genomics services and sales of animal safety products and reports through the Animal Safety segment. With the acquisition of Cell BioSciences in February 2020, this operation has expanded to offer our complete line of products and services, including those usually associated with the Food Safety segment. These additional products are managed and directed by existing management at Neogen Australasia and report through the Animal Safety segment. The accounting policies of each of the segments are the same as those described in Note 1. Segment information follows:
|  |  |  |  |  |  |  | Corporate and |  |  |  |
|  | Food |  |  | Animal |  |  | Eliminations |  |  |  |
(in thousands) |  | Safety |  |  | Safety |  |  | (1) |  |  | Total |
As of and for the three months ended February 28, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 55,372 |  |  | $ | 46,194 |  |  | $ | — |  |  | $ | 101,566 |
Service revenues to external customers |  |  | 7,384 |  |  |  | 19,294 |  |  |  | — |  |  |  | 26,678 |
Total revenues to external customers |  |  | 62,756 |  |  |  | 65,488 |  |  |  | — |  |  |  | 128,244 |
Operating income (loss) |  |  | 8,191 |  |  |  | 10,783 |  |  |  | (12,597 | ) |  |  | 6,377 |
Total assets |  |  | 302,605 |  |  |  | 298,854 |  |  |  | 379,746 |  |  |  | 981,205 |
As of and for the three months ended February 28, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 51,965 |  |  | $ | 40,851 |  |  | $ | — |  |  | $ | 92,816 |
Service revenues to external customers |  |  | 6,459 |  |  |  | 17,434 |  |  |  | — |  |  |  | 23,893 |
Total revenues to external customers |  |  | 58,424 |  |  |  | 58,285 |  |  |  | — |  |  |  | 116,709 |
Operating income (loss) |  |  | 7,911 |  |  |  | 11,657 |  |  |  | (3,794 | ) |  |  | 15,774 |
Total assets |  |  | 287,690 |  |  |  | 239,179 |  |  |  | 353,347 |  |  |  | 880,216 |
| (1) | Includes corporate assets, consisting principally of cash and cash equivalents, marketable securities, current and deferred tax accounts and overhead expenses not allocated to specific business segments. Also includes the elimination of intersegment transactions .
|  |  |  |  |  |  |  | Corporate and |  |  |  |
|  | Food |  |  | Animal |  |  | Eliminations |  |  |  |
(in thousands) |  | Safety |  |  | Safety |  |  | (1) |  |  | Total |
As of and for the nine months ended February 28, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 171,439 |  |  | $ | 140,261 |  |  | $ | — |  |  | $ | 311,700 |
Service revenues to external customers |  |  | 21,171 |  |  |  | 54,195 |  |  |  | — |  |  |  | 75,366 |
Total revenues to external customers |  |  | 192,610 |  |  |  | 194,456 |  |  |  | — |  |  |  | 387,066 |
Operating income (loss) |  |  | 29,216 |  |  |  | 36,246 |  |  |  | (24,871 | ) |  |  | 40,591 |
As of and for the nine months ended February 28, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Product revenues to external customers |  | $ | 151,951 |  |  | $ | 121,337 |  |  | $ | — |  |  | $ | 273,288 |
Service revenues to external customers |  |  | 18,192 |  |  |  | 49,554 |  |  |  | — |  |  |  | 67,746 |
Total revenues to external customers |  |  | 170,143 |  |  |  | 170,891 |  |  |  | — |  |  |  | 341,034 |
Operating income (loss) |  |  | 24,834 |  |  |  | 36,068 |  |  |  | (6,988 | ) |  |  | 53,914 |
(1) Includes elimination of intersegment transactions. The following table presents the Company’s revenue disaggregated by geographic location:
|  | Three months ended |  |  | Nine months ended |
|  | February 28, |  |  | February 28, |
(in thousands) |  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Domestic |  | $ | 77,297 |  |  | $ | 70,387 |  |  | $ | 231,454 |  |  | $ | 207,544 |
International |  |  | 50,947 |  |  |  | 46,322 |  |  |  | 155,612 |  |  |  | 133,490 |
Total revenue |  |  | 128,244 |  |  |  | 116,709 |  |  |  | 387,066 |  |  |  | 341,034 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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