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Goodwill and Other Intangible Assets | 9 Months Ended
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Feb. 29, 2024
Goodwill and Other Intangible Assets | 9. GOODWILL AND INTANGIBLE ASSETS 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 |  |  | (1,309 | ) |  |  | (99 | ) |  |  | (1,408 | )
February 29, 2024 |  | $ | 2,055,102 |  |  | $ | 81,236 |  |  | $ | 2,136,338 |
(1) Represents measurement period adjustments relating to our 3M FSD and Corvium acquisitions. As of May 31, 2023, non-amortizable intangible assets included li censes of $569, trademarks of $12,522 and other intangibles of $1,224. 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 |  | $ | 20,624 |  |  | $ | 8,147 |  |  | $ | 12,477 |
Covenants not to compete |  |  | 486 |  |  |  | 429 |  |  |  | 57 |
Patents |  |  | 7,988 |  |  |  | 4,244 |  |  |  | 3,744 |
Customer relationships |  |  | 1,245,545 |  |  |  | 125,123 |  |  |  | 1,120,422 |
Trade names and trademarks |  |  | 122,974 |  |  |  | 9,060 |  |  |  | 113,914 |
Developed technology |  |  | 307,511 |  |  |  | 35,994 |  |  |  | 271,517 |
Other product and service-related intangibles |  |  | 23,907 |  |  |  | 6,294 |  |  |  | 17,613 |
February 29, 2024 |  | $ | 1,729,035 |  |  | $ | 189,291 |  |  | $ | 1,539,744 |
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 |
Amortization expense relating to definite-lived intangible assets was $23,704 and $71,101 during the three and nine months ended February 29, 2024, respectively. Amortization expense relating to definite-lived intangible assets was $22,926 and $47,995 during the three and nine months ended February 28, 2023, respectively. Estimated amortization expense for fiscal years 2024 through 2028 is expected to be in the range of approximately $95,000 to $97,000 per year. The amortizable intangible assets' useful lives are 2 to 20 years for licenses, 3 to 10 years for covenants not to compete, 5 to 25 years for patents, 9 to 20 years for customer relationships, 5 to 25 years for trade names and trademarks, 10 to 20 years for developed technology and 5 to 15 years for other product and service-related intangibles. All definite-lived intangibles are amortized on a straight-line basis with the exception of definite-lived customer-based intangibles and product and service-related intangibles, which are amortized on either a straight-line or an accelerated basis.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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