Goodwill and Other Intangibles

6 Months Ended

Nov. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLES

The Company assesses goodwill and other intangible assets with indefinite lives for impairment annually or more frequently if indicators arise. The Company monitors impairment indicators in light of changes in market conditions, near and long-term demand for the Company’s products and other relevant factors.

The following table summarizes the activity in Goodwill for the periods indicated:


	November 30, 2021		May 31, 2021		November 30, 2020
Gross beginning balance	$	165.9	$	164.5	$	164.5
Accumulated impairment		(39.6)		(39.6)		(39.6)
Beginning balance	$	126.3	$	124.9	$	124.9


Foreign currency translation		(0.6)		1.4		0.7



Ending balance	$	125.7	$	126.3	$	125.6

There were no impairment charges related to Goodwill in any of the periods presented.

The following table summarizes the activity in other intangibles included in Other assets and deferred charges on the Company’s Financial Statements for the periods indicated:


	November 30, 2021		May 31, 2021		November 30, 2020





Beginning balance - Other intangibles subject to amortization	$	8.4	$	10.5	$	10.5

Adjustments		—		(0.5)		—
Amortization expense		(1.0)		(2.2)		(1.2)
Foreign currency translation		(0.3)		0.6		0.4

Total other intangibles subject to amortization, net of accumulated amortization of $33.3, $32.3 and $31.3, respectively	$	7.1	$	8.4	$	9.7


Total other intangibles not subject to amortization	$	2.1	$	2.1	$	2.1
Total other intangibles	$	9.2	$	10.5	$	11.8

There were no additions to intangible assets within the six months ended November 30, 2021 and November 30, 2020.

Intangible assets with indefinite lives consist principally of trademark and tradename rights. Intangible assets with definite lives consist principally of customer lists, intellectual property, tradenames and other agreements.

Intangible assets with definite lives are amortized over their estimated useful lives. The weighted-average remaining useful lives of all amortizable intangible assets is approximately 4.7 years.There were no impairment charges related to Intangible assets in any of the periods presented.