Goodwill and Other Long-Lived Assets (Tables)
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12 Months Ended |
May 31, 2024 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Summary of Changes in Carrying Amount of Goodwill |
The following table summarizes the changes in the carrying amount of goodwill during fiscal 2025 and fiscal 2024 by reportable operating segment:
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Total |
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Consumer |
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Building |
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Reportable |
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Products |
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Products |
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Segments |
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Other |
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Total |
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Balance at May 31, 2023 |
$ |
257,320 |
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$ |
65,213 |
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$ |
322,533 |
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$ |
13,645 |
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$ |
336,178 |
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Acquisitions |
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8,327 |
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- |
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8,327 |
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- |
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8,327 |
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Impairment losses |
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- |
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- |
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- |
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(14,210 |
) |
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(14,210 |
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Translation adjustments |
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- |
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|
735 |
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|
735 |
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|
565 |
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|
1,300 |
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Balance at May 31, 2024 |
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265,647 |
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65,948 |
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331,595 |
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- |
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331,595 |
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Acquisitions and purchase accounting adjustments(1) |
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(237 |
) |
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41,639 |
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41,402 |
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- |
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41,402 |
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Translation adjustments |
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- |
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3,483 |
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3,483 |
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- |
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3,483 |
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Balance at May 31, 2025 |
$ |
265,410 |
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$ |
111,070 |
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$ |
376,480 |
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$ |
- |
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$ |
376,480 |
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(1)For additional information regarding our acquisitions, refer to “Note P – Acquisitions.”
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| Summary of Other Intangible Assets by Class |
The following table summarizes other intangible assets by class as of the end of the prior two fiscal years:
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2025 |
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2024 |
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Accumulated |
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Accumulated |
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Cost |
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Amortization |
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Cost |
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Amortization |
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Indefinite-lived intangible assets: |
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Trademarks |
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$ |
83,981 |
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$ |
- |
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$ |
111,681 |
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$ |
- |
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Total indefinite-lived intangible assets |
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83,981 |
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- |
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111,681 |
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- |
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Definite-lived intangible assets: |
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Trademarks |
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$ |
8,004 |
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$ |
923 |
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$ |
- |
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$ |
- |
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Customer relationships |
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149,188 |
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76,027 |
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169,680 |
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73,257 |
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Non-compete agreements |
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2,708 |
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2,708 |
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2,708 |
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2,615 |
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Technology know-how |
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35,404 |
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9,229 |
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20,244 |
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7,370 |
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Total definite-lived intangible assets |
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195,304 |
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88,887 |
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192,632 |
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|
83,242 |
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Total intangible assets |
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$ |
279,285 |
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$ |
88,887 |
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$ |
304,313 |
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$ |
83,242 |
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| Estimated Amortization Expense |
Amortization expense for each of the next five fiscal years is estimated to be:
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2026 |
$ |
11,764 |
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2027 |
$ |
11,238 |
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2028 |
$ |
10,909 |
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2029 |
$ |
10,909 |
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2030 |
$ |
10,909 |
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