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Goodwill and Other Intangible Assets (Tables)
 3 Months Ended
Aug. 31, 2023
Summary of Goodwill by Business Segment

The following table summarizes goodwill by reportable segment:

 

 

 

Food Safety

 

 

Animal Safety

 

 

Total

 

May 31, 2023

 

$

2,056,161

 

 

$

81,335

 

 

$

2,137,496

 

Acquisitions(1)

 

 

250

 

 

 

—

 

 

 

250

 

Foreign currency translation and other

 

 

6

 

 

 

(150

)

 

 

(144

)

August 31, 2023

 

$

2,056,417

 

 

$

81,185

 

 

$

2,137,602

 

 

(1)
Represents measurement period adjustments relating to our 3M FSD and Corvium acquisition.
Summary of Amortizable of Intangible Assets

Amortizable intangible assets consisted of the following and are included in customer-based intangibles and other non-current assets within the condensed consolidated balance sheets:

 

 

 

Gross
Carrying
Amount

 

 

Less
Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Licenses

 

$

20,480

 

 

$

6,991

 

 

$

13,489

 

Covenants not to compete

 

 

490

 

 

 

401

 

 

 

89

 

Patents

 

 

8,080

 

 

 

3,925

 

 

 

4,155

 

Customer relationships

 

 

1,246,688

 

 

 

93,793

 

 

 

1,152,895

 

Trade names and trademarks

 

 

122,992

 

 

 

5,569

 

 

 

117,423

 

Developed technology

 

 

307,539

 

 

 

25,534

 

 

 

282,005

 

Other product and service-related intangibles

 

 

23,874

 

 

 

5,864

 

 

 

18,010

 

August 31, 2023

 

$

1,730,143

 

 

$

142,077

 

 

$

1,588,066

 

 

 

 

 

 

 

 

 

 

 

Licenses

 

$

16,010

 

 

$

6,763

 

 

$

9,247

 

Covenants not to compete

 

 

488

 

 

 

384

 

 

 

104

 

Patents

 

 

8,499

 

 

 

4,865

 

 

 

3,634

 

Customer relationships

 

 

1,244,635

 

 

 

81,577

 

 

 

1,163,058

 

Trade names and trademarks

 

 

111,172

 

 

 

3,583

 

 

 

107,589

 

Developed technology

 

 

309,609

 

 

 

20,175

 

 

 

289,434

 

Other product and service-related intangibles

 

 

23,628

 

 

 

5,907

 

 

 

17,721

 

May 31, 2023

 

$

1,714,041

 

 

$

123,254

 

 

$

1,590,787