Goodwill and Intangible Assets (Tables)

9 Months Ended

Feb. 28, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following:

	Feb 28, 2023
(in thousands)	Gross carrying value		Accumulated amortization		Net carrying value
Product technologies	$	233,752	$	(122,017)	$	111,735
Customer relationships	60,096		(40,995)		19,101
Trademarks	9,950		(7,396)		2,554
Licenses	5,377		(4,756)		621
	$	309,175	$	(175,164)	$	134,011

	May 31, 2022
(in thousands)	Gross carrying value		Accumulated amortization		Net carrying value
Product technologies	$	239,467	$	(112,141)	$	127,326
Customer relationships	60,115		(38,003)		22,112
Trademarks	9,950		(7,185)		2,765
Licenses	4,837		(4,660)		177
	$	314,369	$	(161,989)	$	152,380

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 2023	$	5,918
2024	16,406
2025	16,388
2026	16,207
2027	16,036
2028 and thereafter	63,056
	$	134,011

Goodwill for Each Reporting Unit

Goodwill for each reporting unit is allocated as follows:

	Nine months ended Feb 28, 2023
(in thousands)	Med Tech		Med Device		Total
Balance, June 1, 2022	$	160,529	$	40,529	$	201,058
Foreign currency translation adjustments	(20)		—		(20)
Balance, August 31, 2022	$	160,509	$	40,529	$	201,038
Foreign currency translation adjustments	(283)		—		(283)
Balance, November 30, 2022	$	160,226	$	40,529	$	200,755
Foreign currency translation adjustments	$	(779)	$	—	$	(779)
Balance, February 28, 2023	$	159,447	$	40,529	$	199,976