Note 7 - Goodwill

12 Months Ended

May 31, 2012

7. GOODWILL

Changes in the carrying amount of goodwill for the years ended May 31, 2012 and 2011 were as follows:

	Successor			Predecessor
	May 31, 2012			August 19, 2011		May 31, 2011
	(in thousands)
Balance at beginning of period	$	-		$	93,767	$	94,336
Additions:
Acquisition of Immucor, Inc.		972,295			-		-
Deletions:
Contingent consideration adjustment on the acquisiton of BioArray		-			-		(2,935	)
Foreign currency translation adjustment		(5,957	)		298		2,366
Balance at end of year	$	966,338		$	94,065	$	93,767

In fiscal 2011, the Company accrued the release of $7.2 million of escrowed funds related to the acquisition of BioArray. In accordance with the contingent consideration guidance in ASC 805 “Business Combinations,” $2.9 million of the $7.2 million returned to the Company was recorded to Goodwill within the U.S. reporting segment as it relates to items that were predefined as contingent items in the BioArray Acquisition Agreement and are considered measurement period adjustments. The remaining $4.3 million was recorded to Other Income as it is not considered a measurement period adjustment.

Goodwill is tested for impairment during the fourth quarter of each fiscal year or earlier if a triggering event occurs. Testing for impairment of goodwill confirmed that the carrying value of goodwill was not impaired, and consequently no impairment charges were recorded in the years ended May 31, 2012, 2011 and 2010.