Acquisitions (Tables)

12 Months Ended

May 31, 2017

Worthington Specialty Processing

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of WSP, we identified and valued the following identifiable intangible assets:

(in thousands)	Amount		Useful Life (Years)
Category
Customer relationships	$	3,300		6
Trade name		1,900		Indefinite
Total acquired identifiable intangible assets	$	5,200

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Cash	$	6,902
Accounts receivable		10,233
Inventories		3,349
Prepaid expense and other		809
Intangible assets		5,200
Other assets		2,608
Property, plant and equipment		38,657
Total identifiable assets		67,758
Accounts payable		(6,963	)
Accrued liabilities		(1,728	)
Net identifiable assets		59,067
Goodwill		1,312
Net assets		60,379
Noncontrolling interest		(28,004	)
Total basis allocated	$	32,375

CryoScience

Schedule of Acquisition of Intangible Assets

In connection with the acquisition, we identified and valued the following identifiable intangible assets:

(in thousands)	Amount		Useful  Life (Years)
Category
Technology	$	2,800		20
Customer relationships		2,200		15
Other		260		1
Total acquired identifiable intangible assets	$	5,260

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Accounts receivable	$	2,367
Inventories		5,762
Prepaid expenses		208
Intangible assets		5,260
Property, plant and equipment		13,400
Total identifiable assets		26,997
Accounts payable		(2,808	)
Other accrued items		(318	)
Net assets		23,871
Goodwill		6,713
Purchase price		30,584
Plus: estimated working capital deficit		772
Cash paid at closing	$	31,356