Goodwill and Other Long-Lived Assets (Tables)

12 Months Ended

May 31, 2017

Summary of Changes in Carrying Amount of Goodwill

The following table summarizes the changes in the carrying amount of goodwill during fiscal 2017 and fiscal 2016 by reportable business segment:

	Steel Processing		Pressure Cylinders			Engineered Cabs			Other			Total
(in thousands)
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
Acquisitions and purchase accounting adjustments		458		6,713			-			-			7,171
Translation adjustments		-		(103	)		-			-			(103	)
		458		6,610			-			-			7,068
Balance at May 31, 2016
Goodwill		7,045		233,371			44,933			127,245			412,594
Accumulated impairment losses		-		-			(44,933	)		(121,594	)		(166,527	)
		7,045		233,371			-			5,651			246,067
Acquisitions and purchase accounting adjustments		854		-			-			-			854
Translation adjustments		-		752			-			-			752
		854		752			-			-			1,606
Balance at May 31, 2017
Goodwill		7,899		234,123			44,933			127,245			414,200
Accumulated impairment losses		-		-			(44,933	)		(121,594	)		(166,527	)
	$	7,899	$	234,123		$	-		$	5,651		$	247,673

Summary of Other Intangible Assets by Class

The following table summarizes other intangible assets by class as of May 31, 2017 and 2016:

	2017				2016
(in thousands)	Cost		Accumulated Amortization		Cost		Accumulated Amortization
Indefinite-lived intangible assets:
Trademarks	$	14,501	$	-	$	14,501	$	-
Total indefinite-lived intangibles		14,501		-		14,501		-
Definite-lived intangible assets:
Customer relationships	$	96,262	$	45,822	$	96,072	$	35,561
Non-compete agreements		9,443		7,751		9,422		6,237
Technology / know-how		21,755		5,607		21,689		3,865
Other		3,954		3,954		4,012		3,869
Total definite-lived intangibles		131,414		63,134		131,195		49,532
Total intangible assets	$	145,915	$	63,134	$	145,696	$	49,532

Estimated Amortization Expense

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

(in thousands)
2018	$	13,181
2019	$	10,759
2020	$	8,373
2021	$	7,802
2022	$	5,468