Accounting Policies (Tables)

3 Months Ended

Aug. 31, 2019

Supplemental balance sheet information related to operating leases

Supplemental balance sheet information related to operating leases was as follows:

	August 31,
	2019
	(in thousands)
Right of use - assets	$	1,726
Lease liabilities - current		755
Lease liabilities - non-current		982

Weighted average remaining lease term and weighted average discount rate

The weighted average remaining lease term and weighted average discount rate were as follows:

	August 31,
	2019
Weighted average remaining lease term		2.1 years
Weighted average discount rate		3.5	%

Components of lease expense

The components of lease expense were as follows:

	Three Months Ended
	August 31,
	2019
	(in thousands)
Operating leases	$	240
Short term leases		48
Total lease expense	$	288

Discounted and undiscounted lease payments

In accordance with the new leases standard, discounted and undiscounted lease payments as of August 31, 2019 were as follows (in thousands):

Years ending May 31,
2020 (1)	$	757
2021		730
2022		230
2023		61
2024		3
2025 and thereafter		—
Total lease payments		1,781
Less: imputed interest		44
Total lease liabilities	$	1,737

(1) Excluding the three months ended August 31, 2019

Future minimum lease payments

Prior to our adoption of the new leases standard, future minimum lease payments as of May 31, 2019, which were undiscounted, were

as follows (in thousands):

Years ending May 31,
2020	$	1,169
2021		818
2022		260
2023		73
2024		—
2025 and thereafter		—
Total lease payments	$	2,320

Disaggregated Revenue

The following table presents the Company’s revenue disaggregated by geographic location:

	Three months ended August 31,
	2019		2018
	(in thousands)
Revenues by Geographic Location
Domestic	$	63,340	$	59,846
International		38,084		39,780
Total revenue		101,424		99,626

Operating Segments

Disaggregated Revenue

The following table presents disaggregated revenue by major product and service categories for the three month periods ended August 31, 2019 and 2018:

	Three Months ended August 31,
	2019		2018
	(in thousands)
Food Safety
Natural Toxins, Allergens & Drug Residues	$	20,115	$	18,838
Bacterial & General Sanitation		10,316		10,467
Dehydrated Culture Media & Other		11,279		12,217
Rodenticides, Insecticides & Disinfectants		5,449		6,625
Genomics Services		3,862		4,036
	$	51,021	$	52,183
Animal Safety
Life Sciences	$	1,723	$	2,080
Veterinary Instruments & Disposables		11,336		10,404
Animal Care & Other		6,405		6,398
Rodenticides, Insecticides & Disinfectants		16,718		17,146
Genomics Services		14,221		11,415
	$	50,403	$	47,443
Total Revenues	$	101,424	$	99,626