Acquisitions (Tables)

12 Months Ended

May 31, 2016

CryoScience

Schedule of Acquisition of Intangible Assets

In connection with the acquisition, we identified and valued the following identifiable intangible assets:

(in thousands)	Amount		Useful  Life (Years)
Category
Technology	$	2,800		20
Customer relationships		2,200		15
Other		260		1
Total acquired identifiable intangible assets	$	5,260

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Accounts receivable	$	2,367
Inventories		5,762
Prepaid expenses		208
Intangible assets		5,260
Property, plant and equipment		13,400
Total identifiable assets		26,997
Accounts payable		(2,808	)
Other accrued items		(318	)
Net assets		23,871
Goodwill		6,713
Purchase price	$	30,584
Plus: estimated working capital deficit		772
Cash paid at closing	$	31,356

Worthington Specialty Processing

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of WSP, we identified and valued the following identifiable intangible assets:

(in thousands)	Amount		Useful  Life (Years)
Category
Customer relationships	$	3,300		6
Trade name		1,900		Indefinite
Total acquired identifiable intangible assets	$	5,200

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Cash	$	6,902
Accounts receivable		10,233
Inventories		3,349
Prepaid expense and other		809
Intangible assets		5,200
Other assets		2,608
Property, plant and equipment		39,511
Total identifiable assets		68,612
Accounts payable		(6,963	)
Accrued liabilities		(1,728	)
Net identifiable assets		59,921
Goodwill		458
Net assets		60,379
Noncontrolling interest		(28,004	)
Total basis allocated	$	32,375

Rome Strip Steel

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of the assets of Rome Strip Steel, we identified and valued the following identifiable intangible assets:

(in thousands)			Useful  Life (Years)
Category	Amount
Customer relationships	$	4,300		10
Non-compete agreements		1,200		5
Total acquired identifiable intangible assets	$	5,500

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for the assets of Rome Strip Steel and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Cash	$	10
Accounts receivable		6,333
Inventories		17,063
Prepaid expenses		41
Intangible assets		5,500
Property, plant and equipment		22,775
Total identifiable assets		51,722
Accounts payable		(3,091	)
Other accrued items		(410	)
Other liabilities		(313	)
Net assets		47,908
Goodwill		6,587
Purchase price	$	54,495
Plus: estimated working capital deficit		817
Cash paid at closing	$	55,312

DHybrid Systems LLC

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of the assets of dHybrid, we identified and valued the following identifiable intangible assets:

(in thousands)			Useful  Life (Years)
Category	Amount
Technological know-how	$	3,100		10
Customer relationships		600		7
Backlog		88		Less than 1
Total acquired identifiable intangible assets	$	3,788

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for our 79.59% interest in dHybrid and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Consideration Transferred:
Cash consideration	$	11,939
Fair value of contingent consideration		3,979
Total consideration	$	15,918
Estimated Fair Value of Assets Acquired and Liabilities Assumed:
Cash and cash equivalents	$	1,132
Accounts receivable		1,482
Inventories		2,732
Prepaid expenses and other current assets		38
Intangible assets		3,788
Property, plant and equipment		406
Total identifiable assets		9,578
Accounts payable		(1,867	)
Accrued liabilities		(533	)
Long-term debt		(5,000	)
Net identifiable assets		2,178
Goodwill		17,822
Net assets		20,000
Noncontrolling interest		(4,082	)
Total consideration	$	15,918

MEF

Schedule of Acquisition of Intangible Assets

In connection with the acquisition of the assets of MEF, we identified and valued the following identifiable intangible assets:

(in thousands)			Useful  Life (Years)
Category	Amount
Technological know-how	$	5,100		10
Customer relationships		4,300		7
Non-compete agreements		2,400		4
Backlog		1,800		Less than 1
Total acquired identifiable intangible assets	$	13,600

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for the assets of MEF and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Accounts receivable	$	3,329
Inventories		3,550
Intangible assets		13,600
Property, plant and equipment		166
Total identifiable assets		20,645
Accounts payable		(555	)
Other accrued items		(92	)
Deferred revenue		(4,808	)
Net identifiable assets		15,190
Goodwill		23,251
Cash consideration	$	38,441

JRE

Schedule of Consideration Transferred and Fair Value Assigned to Assets Acquired And Liabilities Assumed

The following table summarizes the consideration transferred for the assets of JRE and the fair value assigned to the assets acquired and liabilities assumed at the acquisition date:

(in thousands)
Cash	$	253
Accounts receivable		509
Inventories		2,793
Prepaid expense and other current assets		40
Property, plant and equipment		250
Total identifiable assets		3,845
Accounts payable		(514	)
Other accrued items		(2,160	)
Net identifiable assets		1,171
Goodwill		400
Total cash consideration	$	1,571