Goodwill and Other Long-Lived Assets (Tables)

12 Months Ended

May. 31, 2015

Summary of Changes in Carrying Amount of Goodwill

The following table summarizes the changes in the carrying amount of goodwill during fiscal 2015 and fiscal 2014 by reportable business segment:

	Steel Processing		Pressure Cylinders			Engineered Cabs			Other			Total
(in thousands)
Balance at May 31, 2013
Goodwill	$	-	$	163,274		$	44,933		$	127,245		$	335,452
Accumulated impairment losses		-		-			-			(121,594	)		(121,594	)
		-		163,274			44,933			5,651			213,858
Acquisitions and purchase accounting adjustments		-		36,033			-			-			36,033
Translation adjustments		-		1,202			-			-			1,202
Balance at May 31, 2014
Goodwill		-		200,509			44,933			127,245			372,687
Accumulated impairment losses		-		-			-			(121,594	)		(121,594	)
		-		200,509			44,933			5,651			251,093
Acquisitions and purchase accounting adjustments		6,587		41,421			-			-			48,008
Divestitures		-		(1,891	)		-			-			(1,891	)
Translation adjustments		-		(13,278	)		-			-			(13,278	)
Impairment losses		-		-			(44,933	)		-			(44,933	)
		6,587		26,252			(44,933	)		-			(12,094	)
Balance at May 31, 2015
Goodwill		6,587		226,761			44,933			127,245			405,526
Accumulated impairment losses		-		-			(44,933	)		(121,594	)		(166,527	)
	$	6,587	$	226,761		$	-		$	5,651		$	238,999

Summary of Other Intangible Assets by Class

The following table summarizes other intangible assets by class as of May 31, 2015 and 2014:

	2015				2014
(in thousands)	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Indefinite-lived intangible assets:
Trademarks	$	12,601	$	-	$	12,601	$	-
Total indefinite-lived intangible assets		12,601		-		12,601		-
Definite-lived intangible assets:
Customer relationships	$	119,871	$	34,421	$	143,585	$	28,257
Non-compete agreements		14,221		6,897		10,733		4,263
Technology / know-how		15,633		2,350		12,068		1,273
Other		4,338		3,879		2,512		1,713
Total definite-lived intangible assets		154,063		47,547		168,898		35,506
Total intangible assets	$	166,664	$	47,547	$	181,499	$	35,506

Estimated Amortization Expense

Amortization expense for each of the next five fiscal years is estimated to be:

(in thousands)
2016	$	17,163
2017	$	16,275
2018	$	15,850
2019	$	12,731
2020	$	10,345