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Assets Held For Sale | 12 Months Ended
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May 31, 2023
Discontinued Operations and Disposal Groups [Abstract] |
ASSETS HELD FOR SALE | ASSETS HELD FOR SALE During the fourth quarter of fiscal year 2023, the Company was in discussions with Merit to sell the dialysis product portfolio and BioSentry tract sealant system biopsy businesses. This qualified for held for sale accounting and the Company determined that the fair value of the net assets being sold exceeded the carrying value as of May 31, 2023. The transaction was finalized on June 8, 2023. The following table summarizes the major classes of assets held for sale:
(in thousands) | As of May 31, 2023
Current assets: |
Inventories | $ | 4,154 |
Prepaid expenses and other | 2,000 |
Total current assets held for sale | $ | 6,154 |
Non-current assets: |
Property, plant and equipment, net | $ | 44 |
Intangible assets, net | 17,629 |
Goodwill | 25,980 |
Total non-current assets held for sale | $ | 43,653 |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=2122178 + Details
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