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Business Combinations (Tables)

12 Months Ended

May 31, 2023

Corvium Inc [Member]

Summary of Preliminary Fair Values of Assets Acquired And Liabilities Assumed As of The Date of Acquisition

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition:

Prepaids and other current assets		$	66
Property, plant and equipment			13
Intangible assets			10,180
Deferred revenue			(1,827	)
Adjustment of annual license prepaid			(419	)
Other non-current liabilities			(930	)
Total identifiable assets and liabilities acquired			7,083
Goodwill			16,984
Total purchase consideration		$	24,067

3M Food Safety Transaction

Summary of Preliminary Fair Values of Assets Acquired And Liabilities Assumed As of The Date of Acquisition

The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition:

Cash and cash equivalents		$	319
Inventories			18,403
Other current assets			14,855
Property, plant and equipment			25,832
Intangible assets			1,560,000
Right of use asset			882
Lease liability			(885	)
Deferred tax liabilities			(352,481	)
Other liabilities			(2,832	)
Total identifiable assets and liabilities acquired			1,264,093
Goodwill			1,974,520
Total purchase consideration		$	3,238,613

Summary of Finite-Lived Intangible Assets Acquired as Part of Business Combination

The following table summarizes the intangible assets acquired and the useful life of these assets.

		Fair Value				Useful Life in Years
Trade Names and Trademarks		$	110,000				25
Developed Technology			280,000				15
Customer Relationships			1,170,000				20
Total intangible assets acquired		$	1,560,000

Summary of Business Acquisition, Unaudited Pro Forma Information

The following table presents unaudited pro forma information as if the merger with the 3M FSD business had occurred on June 1, 2021 and had been combined with the results reported in our consolidated statements of income (loss) for all periods presented:

		Year Ended May 31
		2023				2022
Net sales		$	919,959			$	910,978
Operating income		$	44,373			$	42,258

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

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+ References

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