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Segment Information and Geographic Data
 9 Months Ended
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