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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Aug. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill for Each Reporting Unit | Goodwill for each reporting unit is allocated as follows:
| Three months ended Aug 31, 2023
(in thousands) | Med Tech |  | Med Device |  | Total
Balance, June 1, 2023 | $ | 159,238 |  |  | $ | — |  |  | $ | 159,238 |
Foreign currency translation adjustments | (221) |  |  | — |  |  | (221) |
Balance, August 31, 2023 | $ | 159,017 |  |  | $ | — |  |  | $ | 159,017 |
Schedule of Intangible Assets | Intangible assets consisted of the following:
| Aug 31, 2023
(in thousands) | Gross carrying value |  | Accumulated amortization |  | Net carrying value |  |
Product technologies | $ | 210,589 |  |  | $ | (120,652) |  |  | $ | 89,937 |  |  |
Customer relationships | 57,528 |  |  | (41,714) |  |  | 15,814 |  |  |
Trademarks | 7,450 |  |  | (6,689) |  |  | 761 |  |  |
Licenses | 4,837 |  |  | (4,678) |  |  | 159 |  |  |
| $ | 280,404 |  |  | $ | (173,733) |  |  | $ | 106,671 |  |  |
| May 31, 2023
(in thousands) | Gross carrying value |  | Accumulated amortization |  | Net carrying value |  |
Product technologies | $ | 211,751 |  |  | $ | (118,314) |  |  | $ | 93,437 |  |  |
Customer relationships | 57,509 |  |  | (40,755) |  |  | 16,754 |  |  |
Trademarks | 7,450 |  |  | (6,660) |  |  | 790 |  |  |
Licenses | 4,837 |  |  | (4,674) |  |  | 163 |  |  |
| $ | 281,547 |  |  | $ | (170,403) |  |  | $ | 111,144 |  |  |
Schedule of Future Amortization Expense | Expected future amortization expense related to the intangible assets for each of the following fiscal years is as follows:
(in thousands) |
Remainder of 2024 | $ | 10,727 |
2025 | 14,303 |
2026 | 14,122 |
2027 | 13,980 |
2028 | 10,749 |
2029 and thereafter | 42,790 |
| $ | 106,671 |

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