Neogen (NEOG) 10-K 30 Jul 15 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	May. 31, 2015	Jun. 30, 2015	Nov. 30, 2014
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	May 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Trading Symbol	NEOG
Entity Registrant Name	NEOGEN CORP
Entity Central Index Key	711,377
Current Fiscal Year End Date	--05-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		37,134,369
Entity Public Float			$ 1,638,000,000

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Current Assets
Cash and cash equivalents	$ 66,061	$ 40,675
Marketable securities	48,103	35,821
Accounts receivable, less allowance of $1,300 and $1,200 at May 31, 2015 and 2014	59,208	51,901
Inventories	51,601	51,178
Deferred income taxes	1,991	1,710
Prepaid expenses and other current assets	4,231	7,461
Total Current Assets	231,195	188,746
Property and Equipment
Land and improvements	2,296	1,875
Buildings and improvements	26,925	26,456
Machinery and equipment	46,794	40,333
Furniture and fixtures	2,691	2,282
Construction in progress	783	1,659
Property, Plant and Equipment, Gross, Total	79,489	72,605
Less accumulated depreciation	35,016	30,656
Net Property and Equipment	44,473	41,949
Other Assets
Goodwill	70,119	68,190
Other non-amortizable intangible assets	9,020	9,682
Amortizable customer based intangible assets, net of accumulated amortization of $14,446 and $11,915 at May 31, 2015 and 2014	24,170	25,230
Other non-current assets, net of accumulated amortization of $7,191 and $5,494 at May 31, 2015 and 2014	13,204	11,504
Total Other Assets	116,513	114,606
Total Assets	392,181	345,301
Current Liabilities
Accounts payable	13,691	13,396
Accruals
Compensation and benefits	4,142	4,357
Federal income taxes	1,275	0
Other	6,348	7,214
Total Current Liabilities	25,456	24,967
Deferred Income Taxes	13,711	12,155
Other Long-Term Liabilities	2,051	1,879
Total Liabilities	$ 41,218	$ 39,001
Commitments and Contingencies (note 7)
Equity
Preferred stock, $1.00 par value - shares authorized 100,000; none issued and outstanding	$ 0	$ 0
Common stock, $0.16 par value - shares authorized 60,000,000; 37,128,269 and 36,732,313 shares issued and outstanding at May 31, 2015 and 2014	5,941	5,877
Additional paid-in capital	131,906	118,070
Accumulated other comprehensive income (loss)	(2,442)	371
Retained earnings	215,569	182,043
Total Neogen Corporation and Subsidiaries Stockholders' Equity	350,974	306,361
Noncontrolling interest	(11)	(61)
Total Equity	350,963	306,300
TOTAL LIABILITIES AND EQUITY	$ 392,181	$ 345,301

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Accounts receivable, allowance	$ 1,300	$ 1,200
Customer based intangible assets, accumulated amortization	14,446	11,915
Other non-current assets, accumulated amortization	$ 7,191	$ 5,494
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	100,000	100,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.16	$ 0.16
Common stock, shares authorized	60,000,000	60,000,000
Common stock, shares issued	37,128,269	36,732,313
Common stock, shares outstanding	37,128,269	36,732,313

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Revenues
Product revenues	$ 247,940	$ 219,734	$ 184,134
Service revenues	35,134	27,671	23,394
Total Revenues	283,074	247,405	207,528
Cost of Revenues
Cost of product revenues	121,455	107,167	84,045
Cost of service revenues	21,934	17,640	13,989
Total Cost of Revenues	143,389	124,807	98,034
Gross Margin	139,685	122,598	109,494
Operating Expenses
Sales and marketing	51,757	46,432	40,791
General and administrative	25,233	24,449	20,216
Research and development	9,577	8,326	7,781
Operating Expenses, Total	86,567	79,207	68,788
Operating Income	53,118	43,391	40,706
Other Income (Expense)
Interest income	228	115	144
Royalty income	150	231	364
Change in purchase consideration	(297)	38	(14)
Other, net	(1,123)	(744)	(59)
Nonoperating Income (Expense), Total	(1,042)	(360)	435
Income Before Income Taxes	52,076	43,031	41,141
Provision for Income Taxes	18,500	15,000	14,100
Net Income	33,576	28,031	27,041
Net (Income) Loss Attributable to Noncontrolling Interest	(50)	127	149
Net Income Attributable to Neogen	$ 33,526	$ 28,158	$ 27,190
Net Income Attributable to Neogen Per Share
Basic	$ 0.91	$ 0.77	$ 0.76
Diluted	$ 0.90	$ 0.76	$ 0.75

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Net Income	$ 33,576	$ 28,031	$ 27,041
Other Comprehensive Income (Loss), Net of Tax:
Currency Translation Adjustments	(2,813)	1,743	(145)
Other comprehensive income (loss)	(2,813)	1,743	(145)
Comprehensive Income	30,763	29,774	26,896
Comprehensive (Income) Loss Attributable to Noncontrolling Interest	(50)	127	149
Comprehensive Income Attributable to Neogen Corporation	$ 30,713	$ 29,901	$ 27,045

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Noncontrolling Interest
Beginning Balance (in shares) at May. 31, 2012		35,429,641
Beginning Balance at May. 31, 2012	$ 219,054	$ 5,668	$ 87,703	$ (1,227)	$ 126,695	$ 215
Exercise of options and warrants, including share based compensation and income tax benefit (in shares)		631,992
Exercise of options and warrants, including share based compensation and income tax benefit	$ 11,801	$ 101	11,700
Issuance of shares under Employee Stock Purchase Plan (in shares)	22,388	22,388
Issuance of shares under Employee Stock Purchase Plan	$ 536	$ 4	532
Net income (loss)	27,041				27,190	(149)
Other comprehensive income (loss)	(145)			(145)
Ending Balance (in shares) at May. 31, 2013		36,084,021
Ending Balance at May. 31, 2013	258,287	$ 5,773	99,935	(1,372)	153,885	66
Exercise of options and warrants, including share based compensation and income tax benefit (in shares)		629,826
Exercise of options and warrants, including share based compensation and income tax benefit	$ 17,623	$ 101	17,522
Issuance of shares under Employee Stock Purchase Plan (in shares)	18,466	18,466
Issuance of shares under Employee Stock Purchase Plan	$ 616	$ 3	613
Net income (loss)	28,031				28,158	(127)
Other comprehensive income (loss)	$ 1,743			1,743
Ending Balance (in shares) at May. 31, 2014	36,732,313	36,732,313
Ending Balance at May. 31, 2014	$ 306,300	$ 5,877	118,070	371	182,043	(61)
Exercise of options and warrants, including share based compensation and income tax benefit (in shares)		376,364
Exercise of options and warrants, including share based compensation and income tax benefit	$ 13,176	$ 61	13,115
Issuance of shares under Employee Stock Purchase Plan (in shares)	19,592	19,592
Issuance of shares under Employee Stock Purchase Plan	$ 724	$ 3	721
Net income (loss)	33,576				33,526	50
Other comprehensive income (loss)	$ (2,813)			(2,813)
Ending Balance (in shares) at May. 31, 2015	37,128,269	37,128,269
Ending Balance at May. 31, 2015	$ 350,963	$ 5,941	$ 131,906	$ (2,442)	$ 215,569	$ (11)

Consolidated Statements of Equ7

Consolidated Statements of Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Exercise of options and warrants including share based compensation, income tax benefit	$ 2,475	$ 4,757	$ 3,113

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Cash Flows From Operating Activities
Net Income	$ 33,576	$ 28,031	$ 27,041
Adjustments to reconcile net income to net cash provided from operating activities:
Depreciation and amortization	10,649	9,180	7,411
Deferred income taxes	496	(542)	287
Share based compensation	4,450	3,686	3,064
Excess income tax benefit from the exercise of stock options	(2,475)	(4,757)	(3,113)
Changes in operating assets and liabilities, net of business acquisitions:
Accounts receivable	(7,252)	(10,602)	(2,674)
Inventories	319	(3,529)	(2,082)
Prepaid expenses and other current assets	3,264	(2,654)	(1,505)
Accounts payable	412	1,970	(1,417)
Accruals and other changes	353	885	(451)
Net Cash From Operating Activities	43,792	21,668	26,561
Cash Flows For Investing Activities
Purchases of property, equipment and other noncurrent assets	(9,619)	(11,543)	(8,897)
Proceeds from the sale of marketable securities	93,662	91,207	67,039
Purchases of marketable securities	(105,944)	(91,691)	(82,776)
Business acquisitions, net of cash acquired	(6,554)	(39,265)	(13,318)
Net Cash For Investing Activities	(28,455)	(51,292)	(37,952)
Cash Flows From Financing Activities
Exercise of stock options	8,558	14,851	9,533
Excess income tax benefit from the exercise of stock options	2,475	4,757	3,113
Decrease in other long-term liabilities	0	0	(155)
Net Cash From Financing Activities	11,033	19,608	12,491
Effect of Exchange Rate on Cash	(984)	659	(113)
Net Increase (Decrease) In Cash and Cash Equivalents	25,386	(9,357)	987
Cash And Cash Equivalents At Beginning of Year	40,675	50,032	49,045
Cash And Cash Equivalents At End of Year	66,061	40,675	50,032
Supplementary Cash Flow Information
Income taxes paid, net of refunds	$ 10,454	$ 9,956	$ 8,986

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	May. 31, 2015
Summary of Significant Accounting Policies	1. Summary of Significant Accounting Policies Nature of Operations Neogen Corporation develops, manufactures, and markets a diverse line of products and services dedicated to food and animal safety. Basis of Consolidation The consolidated financial statements include the accounts of Neogen Corporation and its subsidiaries (collectively, the Company), all of which are wholly owned, with the exception of Neogen Latinoamerica S.A.P.I. DE C.V. and Neogen do Brasil, which are each 90% owned as of May 31, 2015 and 2014. The Company made an additional capital contribution on December 31, 2013 which increased its ownership interest in Neogen Latinoamerica from 60% to 90%. Noncontrolling interest represents the noncontrolling owner’s proportionate share in the equity of the Company’s majority owned subsidiaries. The noncontrolling owner’s proportionate share in the income or losses of the Company’s majority owned subsidiaries is subtracted from, or added to, net income to calculate the net income attributable to Neogen Corporation. All intercompany accounts and transactions have been eliminated in consolidation. Share and per share amounts reflect the October 30, 2013 3-for-2 stock split as if it took place at the beginning of the period presented. Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Comprehensive Income Comprehensive income represents net income and any revenues, expenses, gains and losses that, under U.S. generally accepted accounting principles, are excluded from net income and recognized directly as a component of equity. Accumulated other comprehensive income (loss) consists solely of foreign currency translation adjustments. Accounts Receivable and Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. Management attempts to minimize credit risk by reviewing customers’ credit history before extending credit and by monitoring credit exposure on a regular basis. An allowance for doubtful accounts on accounts receivable is established based upon factors surrounding the credit risk of specific customers, historical trends and other information. Collateral or other security is generally not required for accounts receivable. Once a receivable balance has been determined to be uncollectible, that amount is written off to the allowance for doubtful accounts. No customer accounted for more than 10% of accounts receivable at May 31, 2015. The activity in the allowance for doubtful accounts was as follows: Year ended May 31 (In Thousands) 2015 2014 2013 Beginning Balance $ 1,200 $ 900 $ 800 Provision 337 367 193 Recoveries 92 8 24 Write-offs (329 ) (75 ) (117 ) Ending Balance $ 1,300 $ 1,200 $ 900 Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments other than cash equivalents and marketable securities, which include accounts receivable and accounts payable, approximate fair value based on either their short maturity or current terms for similar instruments. Fair Value Measurements Fair value measurements are determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants exclusive of any transaction costs. The Company utilizes a fair value hierarchy based upon the observability of inputs used in valuation techniques as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions. Cash and Cash Equivalents Cash and cash equivalents consist of bank demand accounts, savings deposits, certificates of deposit and commercial paper with original maturities of 90 days or less. Cash and cash equivalents were $66,061,000 and $40,675,000 at May 31, 2015 and 2014, respectively. The carrying value of these assets approximates fair value due to the short maturity of these instruments and meet the Level 1 criteria. Cash held at foreign subsidiaries was $13,277,000 and $10,234,000 at May 31, 2015 and 2014, respectively. Marketable Securities The Company has marketable securities held by banks or broker-dealers consisting of short-term domestic certificates of deposit of $26,109,000 and commercial paper rated at least A-2/P-2 with maturities between 91 days and one year of $21,994,000. Outstanding marketable securities at May 31, 2015 were $48,103,000; there were $35,821,000 marketable securities outstanding at May 31, 2014. These securities are classified as available for sale. The primary objective of the Company’s short-term investment activity is to preserve capital for the purpose of funding operations, capital expenditures and business acquisitions; short-term investments are not entered into for trading or speculative purposes. These securities are recorded at fair value (that approximates cost) based on recent trades or pricing models and therefore meet the Level 2 criteria. Interest income on these investments is recorded within Other Income on the income statement. Inventories Inventories are stated at the lower of cost, determined on the first-in, first-out method, or market. The components of inventories were as follows: May 31 (in thousands) 2015 2014 Raw materials $ 21,605 $ 21,515 Work-in-process 3,972 3,681 Finished and purchased finished goods 26,024 25,982 $ 51,601 $ 51,178 The Company’s inventories are analyzed for slow moving, expired and obsolete items no less frequently than quarterly and the valuation allowance is adjusted as required. The valuation allowance for inventory was $1,550,000 and $1,425,000 at May 31, 2015 and 2014, respectively. Property and Equipment Property and equipment is stated at cost. Expenditures for major improvements are capitalized while repairs and maintenance are charged to expense. Depreciation is provided on the straight-line method over the estimated useful lives of the respective assets, which are generally seven to 39 years for buildings and improvements and three to ten years for furniture, fixtures, machinery and equipment. Depreciation expense was $6,318,000, $5,383,000 and $4,417,000 in fiscal years 2015, 2014 and 2013, respectively. Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over fair value of tangible net assets of acquired businesses after amounts are allocated to other identifiable intangible assets. Other intangible assets include customer relationships, trademarks, licenses, trade names, covenants not-to-compete and patents. Amortizable intangible assets are amortized on either an accelerated or a straight-line basis over 5 to 25 years. The Company reviews the carrying amounts of goodwill and other non-amortizable intangible assets annually, or when indications of impairment exist, to determine if such assets may be impaired. If the Company’s qualitative assessment concludes that it is more likely than not that an impairment exists, or the Company skips the qualitative assessment, then the Company performs a quantitative assessment. If the carrying amounts of these assets are deemed to be less than fair value based upon a discounted cash flow analysis and comparison to comparable earnings multiples of peer companies, such assets are reduced to their estimated fair value and a charge is made to operations. The remaining weighted-average amortization period for customer-based intangibles and other intangibles are both 12 years, respectively, at May 31, 2015 and May 31, 2014. Long-lived Assets Management reviews the carrying values of its long-lived assets to be held and used, including definite-lived intangible assets, for possible impairment whenever events or changes in business conditions warrant such a review. The carrying value of a long-lived asset is considered impaired when the anticipated separately identifiable undiscounted cash flows over the remaining useful life of the asset are less than the carrying value of the asset. In such an event, fair value is determined using discounted cash flows and if lower than the carrying value, impairment is recognized through a charge to operations. Reclassifications Certain amounts in the fiscal 2014 and 2013 financial statements have been reclassified to conform to the fiscal 2015 presentation. Stock Options At May 31, 2015, the Company had stock option plans which are described more fully in Note 5. The weighted-average fair value per share of stock options granted during fiscal years 2015, 2014 and 2013, estimated on the date of grant using the Black-Scholes option pricing model, was $11.91, $9.87 and $9.21, respectively. The fair value of stock options granted was estimated using the following weighted-average assumptions: Year ended May 31 2015 2014 2013 Risk-free interest rate 1.2% 0.8% 1.2% Expected dividend yield 0% 0% 0% Expected stock price volatility 36.2% 33.1% 39.2% Expected option life 4.0 years 4.0 years 4.0 years The risk-free interest rate for periods within the expected life of options granted is based on the United States Treasury yield curve in effect at the time of grant. Expected stock price volatility is based on historical volatility of the Company’s stock. The expected option life, representing the period of time that options granted are expected to be outstanding, is based on historical option exercise and employee termination data. The Company recognizes the fair value of stock options using the accelerated method over their requisite service periods which the Company has determined to be the vesting periods. Revenue Recognition Revenue from products and services is recognized when the product has been shipped or the service performed, the sales price is fixed and determinable, and collection of any receivable is probable. To the extent that customer payment has been received before all recognition criteria are met, these revenues are initially deferred and later recognized in the period that all recognition criteria have been met. Customer credits for sales returns, pricing and other disputes, and other related matters (including volume rebates offered to certain distributors as marketing support) represent approximately 3% of reported net revenue for each period presented. Shipping and Handling Costs Shipping and handling costs that are charged to and reimbursed by the customer are recognized as revenues, while the related expenses incurred by the Company are recorded in sales and marketing expense; these expenses totaled $8,648,000, $7,497,000 and $6,856,000 in fiscal years 2015, 2014 and 2013, respectively. Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and for tax credit carry forwards and are measured using the enacted tax rates in effect for the years in which the differences are expected to reverse. Deferred income tax expense represents the change in net deferred income tax assets and liabilities during the year. The Company’s foreign subsidiaries are comprised of Neogen Europe (wholly-owned subsidiary), Neogen Latinoamerica (90% owned subsidiary), Neogen do Brasil (90% owned subsidiary) and Neogen China (wholly-owned subsidiary). Based on historical experience, as well as the Company’s future plans, earnings from these subsidiaries are expected to be re-invested indefinitely for future expansion and working capital needs. Furthermore, the Company’s domestic operations have historically produced sufficient operating cash flow to mitigate the need to remit foreign earnings. On an annual basis, the Company evaluates the current business environment and whether any new events or other external changes might require a re-evaluation of the decision to indefinitely re-invest foreign earnings. At May 31, 2015, unremitted earnings of the foreign subsidiaries were $24,423,000. Research and Development Costs Research and development costs, which consist primarily of compensation costs, administrative expenses and new product development, among other items, are expensed as incurred. Advertising Costs Advertising costs are expensed as incurred and totaled $1,371,000, $1,344,000 and $1,055,000 in fiscal years 2015, 2014 and 2013, respectively. Net Income Attributable to Neogen per Share Basic net income per share is based on the weighted average number of common shares outstanding during each year. Diluted earnings per share is based on the weighted average number of common shares and dilutive potential common shares outstanding. The Company’s dilutive potential common shares outstanding during the years result entirely from dilutive stock options. The following table presents the net income per share calculations: Year ended May 31 (in thousands, except per share) 2015 2014 2013 Numerator for basic and diluted net income per share - Net income attributable to Neogen $ 33,526 $ 28,158 $ 27,190 Denominator - Denominator for basic net income per share weighted average shares 36,953 36,511 35,768 Effect of dilutive stock options 491 756 723 Denominator for diluted net income per share 37,444 37,267 36,491 Net income attributable to Neogen per share Basic $ 0.91 $ 0.77 $ 0.76 Diluted $ 0.90 $ 0.76 $ 0.75 At May 31, 2014 and 2013, 48,716 and 88,912 shares, respectively, were excluded from the computations of diluted net income per share, as the option exercise prices exceeded the average market price of the common shares. At May 31, 2015, the market price of the common stock exceeded the option exercise price for all outstanding options; therefore, no shares were excluded from the computation. On October 30, 2013, the Company paid a 3-for-2 stock split effected in the form of a dividend of its common stock. All share and per share amounts, with the exception of par value per share, have been adjusted to reflect the stock split as if it had taken place at the beginning of the period presented. The common stock and additional paid-in capital accounts at May 31, 2013 reflect the retroactive capitalization of the 3-for-2 stock split. New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued a new standard on revenue recognition. The new standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is not permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	May. 31, 2015
Goodwill and Other Intangible Assets	2. Goodwill and Other Intangible Assets Management has completed the annual impairment analysis of goodwill and intangible assets with indefinite lives using a quantitative assessment as of the first day of the fourth quarter of fiscal years 2015, 2014 and 2013, respectively, and determined that recorded amounts were not impaired and that no write-down was necessary. The following table summarizes goodwill by reportable segment: (in thousands) Food Safety Animal Safety Total Balance, May 31, 2013 $ 16,696 $ 42,795 $ 59,491 Goodwill acquired and/or adjusted 0 8,699 8,699 Balance, May 31, 2014 16,696 51,494 68,190 Goodwill acquired and/or adjusted 2,110 (181 ) 1,929 Balance, May 31, 2015 $ 18,806 $ 51,313 $ 70,119 At May 31, 2015, non-amortizable intangible assets included licenses of $569,000, trademarks of $7,227,000 and other intangibles of $1,224,000. At May 31, 2014, non-amortizable intangible assets included licenses of $569,000, trademarks of $7,889,000 and other intangibles of $1,224,000. The decrease in trademark values and goodwill in the Animal Safety segment from fiscal 2014 to fiscal 2015 was due to final valuation adjustments from the Chem-Tech acquisition. Amortizable intangible assets consisted of the following and are included in customer based intangible and other noncurrent assets within the consolidated balance sheets: (in thousands) Gross Less Net Licenses $ 4,919 $ 1,630 $ 3,289 Covenants not to compete 428 124 304 Patents 7,701 3,087 4,614 Customer relationship intangibles 38,616 14,446 24,170 Other product and service related intangibles 6,233 1,236 4,997 Balance, May 31, 2015 $ 57,897 $ 20,523 $ 37,374 Licenses $ 6,701 $ 1,873 $ 4,828 Covenants not to compete 474 256 218 Patents 5,990 2,746 3,244 Customer relationship intangibles 37,145 11,915 25,230 Other product and service-related intangibles 3,833 619 3,214 Balance, May 31, 2014 $ 54,143 $ 17,409 $ 36,734 Amortization expense for intangibles totaled $4,331,000, $3,797,000 and $2,994,000 in fiscal years 2015, 2014, and 2013, respectively. The estimated amortization expense for each of the five succeeding fiscal years is as follows: $4,323,000 in 2016, $4,186,000 in 2017, $3,949,000 in 2018, $3,329,000 in 2019 and $3,061,000 in 2020. The amortizable intangible assets useful lives are 5 to 20 years for licenses, 5 years for covenants not to compete, 5 to 25 years for patents, 10 to 20 years for customer relationship intangibles and 5 to 20 years for other product and service related intangibles, which primarily consist of product formulations. All definite lived intangibles are amortized on a straight line basis with the exception of definite lived customer relationship intangibles and product and service-related intangibles which are amortized on an accelerated basis.

Business Combinations

Business Combinations	12 Months Ended
	May. 31, 2015
Business Combinations	3. Business Combinations The Consolidated Statements of Income reflect the results of operations for business acquisitions since the respective dates of purchase. All are accounted for using the acquisition method. Goodwill recognized in the acquisitions described below relates primarily to enhancing the Company’s strategic platform for the expansion of available product offerings. On October 1, 2012, the Company acquired all of the stock of Macleod Pharmaceuticals Inc., of Fort Collins, Colorado. Macleod is the manufacturer of Uniprim, a leading veterinary antibiotic. The product is widely distributed throughout the U.S., and is also available in Canada through an exclusive distribution agreement. Consideration for the purchase was $9,918,000 in net cash and $100,000 accrued for contingent consideration. The final purchase price allocation, based upon the fair value of these assets determined using the income approach, included accounts receivable of $353,000, inventory of $1,238,000, property and equipment of $300,000, current liabilities of $82,000, deferred tax liabilities of $2,054,000, contingent consideration payment liabilities of $100,000, intangible assets of $5,542,000 and the remainder to goodwill (non-deductible for tax purposes). These values are Level 3 fair value measurements. This business was relocated to Lexington, Kentucky in December 2014 and integrated with the Company’s operations there, reporting within the Animal Safety segment. In October 2013, the Company paid $62,000 for contingent consideration; the remaining $38,000 of the accrual was reversed to Other Income. On January 2, 2013, the Company acquired the assets of Scidera Genomics LLC, an animal genomics business formerly based in Davis, California. The company, formerly operated as MetaMorphix, Inc., or MMI Genomics, performed parentage testing and trait analysis primarily for the cattle and canine industries. Consideration for the purchase was $3,400,000 in cash. The final purchase price allocation included current assets of $35,000, property and equipment of $246,000, intangible assets of $1,570,000 and the remainder to goodwill (deductible for tax purposes). These values are Level 3 fair value measurements. This business was relocated to the Company’s GeneSeek operation in Lincoln, Nebraska in 2013, and reports within the Animal Safety segment. On July 1, 2013, the Company acquired the assets of SyrVet Inc., a veterinary business based in Waukee, Iowa. SyrVet offered a product line similar to Neogen’s Ideal Instruments line of veterinary instruments with a strong presence in Mexico and Latin America. Consideration for the purchase was $10,012,000 in cash and up to $1,500,000 of a contingent consideration liability, due at the end of the first year, based on an excess net sales formula. The Company estimated the contingent consideration liability to be $930,000, based on forecasted sales. The final purchase price allocation, based upon the fair value of these assets determined using the income approach, included accounts receivable of $747,000, net inventory of $2,195,000, property and equipment of $556,000, current liabilities of $226,000, contingent consideration liabilities of $930,000, non-amortizable trademarks of $790,000, intangible assets of $4,810,000 (with an estimated life of 15 years) and the remainder to goodwill (deductible for tax purposes). These values are Level 3 fair value measurements. This business has been relocated to Lexington, Kentucky and integrated with the Company’s current operations there, reporting within the Animal Safety segment. In August 2014, the Company paid $689,000 to the former owner for contingent consideration based upon the level of achievement of sales targets; the remaining $241,000 of the accrual was reversed to Other Income. On November 1, 2013, the Company acquired the assets of Prima Tech Incorporated, a veterinary instrument company based in Kenansville, North Carolina. Prima Tech manufactures devices used by farmers, ranchers, and veterinarians to inject animals, provide topical applications, and to use for oral administration. Prima Tech is also a supplier of products used in artificial insemination in the swine industry. Consideration for the purchase was $12,068,000 in cash and up to $600,000 of contingent consideration, due at the end of the first year, based on an excess net sales formula. The Company estimated the contingent consideration liability to be $146,000 based on forecasted sales. The final purchase price allocation, based upon the fair value of these assets determined using the income approach, included accounts receivable of $963,000, net inventory of $2,796,000, property and equipment of $1,653,000, prepaid assets of $8,000, current liabilities of $1,840,000, contingent consideration liabilities of $146,000, non-amortizable trademarks of $1,500,000, intangible assets of $4,400,000 (with an estimated life of 5-15 years) and the remainder to goodwill (deductible for tax purposes). These values are Level 3 fair value measurements. This business will continue to operate in its current location and reports within the Animal Safety segment. In October 2014, the Company paid the former owners $600,000 and recorded an additional $454,000 for contingent consideration, based on achievement of defined sales targets, which was charged to Other Expense. On January 2, 2014, the Company acquired all of the stock of Chem-Tech Ltd., a pest control manufacturing and distribution business located in Pleasantville, Iowa. Consideration for the purchase was $17,185,000 in cash and up to $1,000,000 of a contingent consideration liability, due at the end of the first year, based on an excess net sales formula. The Company estimated the contingent consideration liability to be $390,000, based on forecasted sales. The final purchase price allocation included accounts receivable of $380,000, net inventory of $4,184,000, prepaid assets of $100,000, property and equipment of $807,000, current liabilities of $184,000, contingent consideration liabilities of $390,000, intangible assets of $8,327,000 (with an estimated life of 5-25 years) and the remainder to goodwill (deductible for tax purposes). These values are Level 3 fair value measurements. This business will continue to operate in its current location and reports within the Animal Safety segment. In February 2015, the Company paid the former owners $474,000 and recorded an additional $84,000 for contingent consideration, based upon achievement of sales targets, which was charged to Other Expense. On October 1, 2014, the Company acquired all of the stock of BioLumix, Inc., a manufacturer and marketer of automated systems for the detection of microbial contaminants located in Ann Arbor, Michigan. Consideration for the purchase was $4,514,000 in cash. The preliminary purchase price allocation included accounts receivable of $499,000, other receivable of $178,000, net inventory of $421,000, prepaid assets of $48,000, property and equipment of $159,000, current liabilities of $130,000, long-term liabilities of $813,000, intangible assets of $2,109,000 (with an estimated life of 5-15 years) and the remainder to goodwill (non-deductible for tax purposes). These values are Level 3 fair value measurements. This business has been relocated to Lansing, Michigan and integrated with the Company’s operations there, reporting within the Food Safety segment. On December 8, 2014, the Company acquired the food safety and veterinary genomic assets of its Chinese distributor Beijing Anapure BioScientific Co., Ltd. Consideration for the purchase was $2,040,000 in cash. The preliminary purchase allocation included inventory of $525,000, property and equipment of $64,000, intangible assets of $20,000 (with an estimated life of five years) and the remainder to goodwill. These are Level 3 fair value measurements. This business has been integrated into the Company’s subsidiary in China and reports within the Food Safety segment. On June 1, 2015, subsequent to the end of the fiscal year, Neogen acquired the assets of Sterling Test House, a commercial food testing laboratory based in India. Consideration for the purchase was $1,100,000 in cash. Due to the timing of the transaction, the preliminary allocation was not complete at the time of filing.

Long-Term Debt

Long-Term Debt	12 Months Ended
	May. 31, 2015
Long-Term Debt	4. Long-Term Debt The Company has a financing agreement with a bank providing for an unsecured revolving line of credit of up to $12,000,000, which expires on September 1, 2017. There were no advances against this line of credit during fiscal years 2015, 2014 and 2013, and no balance outstanding at May 31, 2015, 2014 and 2013. Interest is at LIBOR plus 100 basis points (rate under the terms of the agreement was 1.19% at May 31, 2015). Financial covenants include maintaining specified levels of tangible net worth, debt service coverage, and funded debt to EBITDA, each of which the Company was in compliance with at May 31, 2015 and May 31, 2014.

Equity Compensation Plans

Equity Compensation Plans	12 Months Ended
	May. 31, 2015
Equity Compensation Plans	5. Equity Compensation Plans Qualified and non-qualified options to purchase shares of common stock may be granted to directors, officers and employees of the Company under the terms of the Company’s stock option plans. These options are granted at an exercise price of not less than the fair market value of the stock on the date of grant. Remaining shares available for grant under stock option plans were 306,000, 805,000 and 1,227,000 at May 31, 2015, 2014 and 2013, respectively. Options vest ratably over three and five year periods and the contractual terms are generally five or ten years. (Shares in thousands) Shares Weighted-Average Weighted-Average Outstanding at May 31, 2012 (863 exercisable) 2,314 $ 14.89 $ 4.63 Granted 459 28.67 9.21 Exercised (657 ) 10.61 3.43 Forfeited (24 ) 19.67 6.07 Outstanding at May 31, 2013 (749 exercisable) 2,092 19.21 6.00 Granted 512 36.44 9.87 Exercised (643 ) 13.69 4.28 Forfeited (92 ) 22.08 6.65 Outstanding at May 31, 2014 (577 exercisable) 1,869 25.69 7.62 Granted 536 39.79 11.91 Exercised (380 ) 16.69 5.17 Forfeited (37 ) 33.55 9.45 Outstanding at May 31, 2015 (639 exercisable) 1,988 31.04 9.20 The following is a summary of stock options outstanding at May 31, 2015: (Options in thousands) Options Outstanding Options Exercisable Range of Exercise price Number Average Remaining (in years) Weighted-Average Number Weighted Average $ 5.45 - $ 22.91 261 2.4 $ 17.10 198 $ 16.58 22.92 - 28.26 321 1.8 23.17 184 23.22 28.27 - 32.37 411 3.0 28.67 164 28.67 32.38 - 38.03 432 3.6 36.07 81 36.07 38.04 - 43.67 563 5.1 39.90 12 41.60 1,988 3.5 31.04 639 24.50 The weighted average exercise price of shares that were exercisable at May 31, 2015 and 2014 was $24.50 and $18.91, respectively. The aggregate intrinsic value of options outstanding and options exercisable was $31,204,000 and $14,201,000, respectively, at May 31, 2015, $22,751,000 and $10,984,000 respectively, at May 31, 2014 and $35,778,000 and $16,557,000 respectively, at May 31, 2013. The aggregate intrinsic value of options exercised during the year was $10,690,000 in fiscal 2015, $17,669,000 in fiscal 2014 and $12,519,000 in fiscal 2013. Remaining compensation cost to be expensed in future periods for non-vested options was $13,567,000 at May 31, 2015, with a weighted average expense recognition period of 2.9 years. Common stock totaling 45,717 of the 337,500 originally authorized shares are reserved for issuance under the terms of the 2002 Employee Stock Purchase Plan. An additional 375,000 shares are also reserved for issuance under the terms of the 2011 Employee Stock Purchase Plan. The plans give eligible employees the option to purchase common stock at a 5% discount to the lower of the market value of the stock at the beginning or end of each participation period. Total individual purchases in any year are limited to 10% of compensation. Shares purchased by employees were 19,592, 18,466 and 22,388 in fiscal years 2015, 2014 and 2013, respectively.

Income Taxes

Income Taxes	12 Months Ended
	May. 31, 2015
Income Taxes	6. Income Taxes Income before income taxes by source consists of the following amounts: Year ended May 31 (in thousands) 2015 2014 2013 U.S. $ 45,156 $ 37,568 $ 37,407 Foreign 6,920 5,463 3,734 $ 52,076 $ 43,031 $ 41,141 The provision for income taxes consisted of the following: Year ended May 31 (in thousands) 2015 2014 2013 Current: U.S. Taxes $ 15,269 $ 14,442 $ 12,959 Foreign 1,364 1,100 854 Deferred 1,867 (542 ) 287 $ 18,500 $ 15,000 $ 14,100 The reconciliation of income taxes computed at the U.S. federal statutory tax rate to income tax expense is as follows: Year ended May 31 (in thousands) 2015 2014 2013 Tax at U.S. statutory rates $ 18,227 $ 15,061 $ 14,400 Tax credits and other (581 ) (574 ) (980 ) Provisions for state income taxes, net of federal benefit 854 513 680 $ 18,500 $ 15,000 $ 14,100 Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred income tax liabilities and assets are as follows: May 31 (in thousands) 2015 2014 Deferred income tax liabilities Indefinite and long-lived assets $ (15,906 ) $ (13,759 ) Prepaid expenses (431 ) (358 ) (16,337 ) (14,117 ) Deferred income tax assets Inventories and accounts receivable 1,809 1,471 Accrued expenses and other 2,808 2,201 4,617 3,672 Net deferred income tax liabilities $ (11,720 ) $ (10,445 ) The Company has no significant accrual for unrecognized tax benefits at May 31, 2015. Should the accrual of any interest or penalties relative to unrecognized tax benefits be necessary, such accruals will be reflected within income tax accounts. For the majority of tax jurisdictions, the Company is no longer subject to U.S. Federal, State and local or non U.S. income tax examinations by tax authorities for fiscal years before 2011.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	May. 31, 2015
Commitments and Contingencies	7. Commitments and Contingencies The Company is involved in environmental remediation and monitoring activities at its Randolph, Wisconsin manufacturing facility and accrues for related costs when such costs are determined to be probable and estimable. The Company expenses annual costs of remediation, which have ranged from $47,000 to $56,000 per year over the past five years. The Company’s estimated liability for these costs is $916,000 at May 31, 2015 and 2014, measured on an undiscounted basis over an estimated period of 15 years; $50,000 of the liability is recorded within current liabilities and the remainder is recorded within other long term liabilities in the consolidated balance sheet. The Company has agreements with unrelated third parties that provide for the payment of license fees and royalties on the sale of certain products. Royalty expense under the terms of these agreements was $2,189,000, $2,278,000 and $1,837,000 for fiscal years 2015, 2014 and 2013, respectively. Some of these agreements provide for guaranteed minimum royalty payments to be paid each fiscal year by the Company for certain technologies. Future minimum royalty payments are as follows: 2016—$643,000, 2017—$634,000, 2018—$659,000, and 2019—$659,000. The Company leases office and manufacturing facilities under non-cancelable operating leases. Rent expense for fiscal years 2015, 2014 and 2013 was $736,000, $856,000 and $657,000, respectively. Future fiscal year minimum rental payments for these leases over their remaining terms are as follows: 2016—$424,000, 2017—$161,000, 2018—$161,000, 2019—$85,200, and 2020 and later—$62,400. The Company is subject to certain legal and other proceedings in the normal course of business that, in the opinion of management, should not have a material effect on its future results of operations or financial position.

Defined Contribution Benefit Pl

Defined Contribution Benefit Plan	12 Months Ended
	May. 31, 2015
Defined Contribution Benefit Plan	8. Defined Contribution Benefit Plan The Company maintains a defined contribution 401(k) benefit plan covering substantially all employees. Employees are permitted to defer compensation up to IRS limits, with the Company matching 100% of the first 3% of deferred compensation and 50% of the next 2% deferred. The Company’s expense under this plan was $1,051,000, $954,000 and $863,000 in fiscal years 2015, 2014 and 2013, respectively.

Segment Information

Segment Information	12 Months Ended
	May. 31, 2015
Segment Information	9. Segment Information The Company has two reportable segments: Food Safety and Animal Safety. The Food Safety segment is primarily engaged in the development, production and marketing of diagnostic test kits and related products used by food producers and processors to detect harmful natural toxins, foodborne bacteria, allergens and levels of general sanitation. The Animal Safety segment is primarily engaged in the development, production and marketing of products dedicated to animal safety, including a complete line of consumable products marketed to veterinarians and animal health product distributors; this segment also provides genomic identification and related interpretive bioinformatic services. Additionally, the Animal Safety segment produces and markets rodenticides, disinfectants, and insecticides to assist in control of rodents, insects and disease in and around agricultural, food production and other facilities. These segments are managed separately because they represent strategic business units that offer different products and require different marketing strategies. The Company evaluates performance based on total sales and operating income of the respective segments. The accounting policies of each of the segments are the same as those described in Note 1. Segment information is as follows: (in thousands) Food Safety Animal Safety Corporate and Total Fiscal 2015 Product revenues to external customers $ 124,021 $ 123,919 $ 0 $ 247,940 Service revenues to external customers 7,458 27,676 0 35,134 Total revenues to external customers 131,479 151,595 0 283,074 Operating income (loss) 30,265 26,034 (3,181 ) 53,118 Depreciation and amortization 4,620 6,029 0 10,649 Total assets 145,576 144,161 102,444 392,181 Expenditures for long-lived assets 4,216 5,403 0 9,619 Fiscal 2014 Product revenues to external customers $ 111,545 $ 108,189 $ 0 $ 219,734 Service revenues to external customers 4,745 22,926 0 27,671 Total revenues to external customers 116,290 131,115 0 247,405 Operating income (loss) 28,009 18,571 (3,189 ) 43,391 Depreciation and amortization 4,181 4,999 0 9,180 Total assets 105,607 173,643 66,051 345,301 Expenditures for long-lived assets 5,999 5,544 0 11,543 Fiscal 2013 Product revenues to external customers $ 102,971 $ 81,163 $ 0 $ 184,134 Service revenues to external customers 3,187 20,207 0 23,394 Total revenues to external customers 106,158 101,370 0 207,528 Operating income (loss) 27,366 15,858 (2,518 ) 40,706 Depreciation and amortization 3,874 3,537 0 7,411 Total assets 93,079 121,908 75,571 290,558 Expenditures for long-lived assets 6,046 2,851 0 8,897 (1) Includes corporate assets, including cash and cash equivalents, marketable securities, current and deferred tax accounts, and overhead expenses not allocated to specific business segments. Also includes the elimination of intersegment transactions and noncontrolling interests. Revenues to customers located outside the United States amounted to $103,867,000 or 36.7% of consolidated revenues in fiscal 2015, $96,111,000 or 38.8 % in fiscal 2014 and $83,171,000 or 40.1% in fiscal 2013 and were derived primarily in various countries throughout Europe, Canada, and the geographic areas of South and Central America and Asia. No customer represented revenues in excess of 10% of consolidated net sales in any of the three years. The United States based operations represent 95% of the Company’s long-lived assets as of May 31, 2015 and 95% as of May 31, 2014.

Stock Repurchase

Stock Repurchase	12 Months Ended
	May. 31, 2015
Stock Repurchase	10. Stock Repurchase In December 2008, the Company’s Board of Directors authorized a program to purchase, subject to market conditions, up to 1,125,000 shares of the Company’s common stock. As of May 31, 2015, 112,026 cumulative shares have been purchased in negotiated and open market transactions for a total price, including commissions, of approximately $923,000. There were no purchases in fiscal years 2015 or 2014. Shares purchased under the program were retired.

Summary of Quarterly Data (Unau

Summary of Quarterly Data (Unaudited)	12 Months Ended
	May. 31, 2015
Summary of Quarterly Data (Unaudited)	11. Summary of Quarterly Data (Unaudited) Quarter Ended (in thousands, except per share) August November February May Total revenues $ 67,599 $ 68,455 $ 68,409 $ 78,611 Gross margin 34,076 34,208 33,703 37,698 Net income attributable to Neogen 8,883 7,806 7,454 9,384 Basic net income per share 0.24 0.21 0.20 0.26 Diluted net income per share 0.24 0.21 0.20 0.25 Quarter Ended (in thousands, except per share) August November February May Total revenues $ 58,548 $ 59,599 $ 61,996 $ 67,262 Gross margin 30,364 29,491 30,705 32,038 Net income attributable to Neogen 7,839 6,207 6,575 7,537 Basic net income per share 0.22 0.17 0.18 0.20 Diluted net income per share 0.21 0.17 0.18 0.20 Quarterly net income per share is based on weighted-average shares outstanding and potentially dilutive stock options for the specific period, and as a result, will not necessarily aggregate to total net income per share as computed for the year as disclosed in the consolidated statements of income.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	May. 31, 2015
Nature of Operations	Nature of Operations Neogen Corporation develops, manufactures, and markets a diverse line of products and services dedicated to food and animal safety.
Basis of Consolidation	Basis of Consolidation The consolidated financial statements include the accounts of Neogen Corporation and its subsidiaries (collectively, the Company), all of which are wholly owned, with the exception of Neogen Latinoamerica S.A.P.I. DE C.V. and Neogen do Brasil, which are each 90% owned as of May 31, 2015 and 2014. The Company made an additional capital contribution on December 31, 2013 which increased its ownership interest in Neogen Latinoamerica from 60% to 90%. Noncontrolling interest represents the noncontrolling owner’s proportionate share in the equity of the Company’s majority owned subsidiaries. The noncontrolling owner’s proportionate share in the income or losses of the Company’s majority owned subsidiaries is subtracted from, or added to, net income to calculate the net income attributable to Neogen Corporation. All intercompany accounts and transactions have been eliminated in consolidation. Share and per share amounts reflect the October 30, 2013 3-for-2 stock split as if it took place at the beginning of the period presented.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
Comprehensive Income	Comprehensive Income Comprehensive income represents net income and any revenues, expenses, gains and losses that, under U.S. generally accepted accounting principles, are excluded from net income and recognized directly as a component of equity. Accumulated other comprehensive income (loss) consists solely of foreign currency translation adjustments.
Accounts Receivable and Concentrations of Credit Risk	Accounts Receivable and Concentrations of Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of accounts receivable. Management attempts to minimize credit risk by reviewing customers’ credit history before extending credit and by monitoring credit exposure on a regular basis. An allowance for doubtful accounts on accounts receivable is established based upon factors surrounding the credit risk of specific customers, historical trends and other information. Collateral or other security is generally not required for accounts receivable. Once a receivable balance has been determined to be uncollectible, that amount is written off to the allowance for doubtful accounts. No customer accounted for more than 10% of accounts receivable at May 31, 2015. The activity in the allowance for doubtful accounts was as follows: Year ended May 31 (In Thousands) 2015 2014 2013 Beginning Balance $ 1,200 $ 900 $ 800 Provision 337 367 193 Recoveries 92 8 24 Write-offs (329 ) (75 ) (117 ) Ending Balance $ 1,300 $ 1,200 $ 900
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of the Company’s financial instruments other than cash equivalents and marketable securities, which include accounts receivable and accounts payable, approximate fair value based on either their short maturity or current terms for similar instruments.
Fair Value Measurements	Fair Value Measurements Fair value measurements are determined based upon the exit price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants exclusive of any transaction costs. The Company utilizes a fair value hierarchy based upon the observability of inputs used in valuation techniques as follows: Level 1: Observable inputs such as quoted prices in active markets; Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3: Unobservable inputs in which there is little or no market data, which require the reporting entity to develop its own assumptions.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of bank demand accounts, savings deposits, certificates of deposit and commercial paper with original maturities of 90 days or less. Cash and cash equivalents were $66,061,000 and $40,675,000 at May 31, 2015 and 2014, respectively. The carrying value of these assets approximates fair value due to the short maturity of these instruments and meet the Level 1 criteria. Cash held at foreign subsidiaries was $13,277,000 and $10,234,000 at May 31, 2015 and 2014, respectively.
Marketable Securities	Marketable Securities The Company has marketable securities held by banks or broker-dealers consisting of short-term domestic certificates of deposit of $26,109,000 and commercial paper rated at least A-2/P-2 with maturities between 91 days and one year of $21,994,000. Outstanding marketable securities at May 31, 2015 were $48,103,000; there were $35,821,000 marketable securities outstanding at May 31, 2014. These securities are classified as available for sale. The primary objective of the Company’s short-term investment activity is to preserve capital for the purpose of funding operations, capital expenditures and business acquisitions; short-term investments are not entered into for trading or speculative purposes. These securities are recorded at fair value (that approximates cost) based on recent trades or pricing models and therefore meet the Level 2 criteria. Interest income on these investments is recorded within Other Income on the income statement.
Inventories	Inventories Inventories are stated at the lower of cost, determined on the first-in, first-out method, or market. The components of inventories were as follows: May 31 (in thousands) 2015 2014 Raw materials $ 21,605 $ 21,515 Work-in-process 3,972 3,681 Finished and purchased finished goods 26,024 25,982 $ 51,601 $ 51,178 The Company’s inventories are analyzed for slow moving, expired and obsolete items no less frequently than quarterly and the valuation allowance is adjusted as required. The valuation allowance for inventory was $1,550,000 and $1,425,000 at May 31, 2015 and 2014, respectively.
Property and Equipment	Property and Equipment Property and equipment is stated at cost. Expenditures for major improvements are capitalized while repairs and maintenance are charged to expense. Depreciation is provided on the straight-line method over the estimated useful lives of the respective assets, which are generally seven to 39 years for buildings and improvements and three to ten years for furniture, fixtures, machinery and equipment. Depreciation expense was $6,318,000, $5,383,000 and $4,417,000 in fiscal years 2015, 2014 and 2013, respectively.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill represents the excess of purchase price over fair value of tangible net assets of acquired businesses after amounts are allocated to other identifiable intangible assets. Other intangible assets include customer relationships, trademarks, licenses, trade names, covenants not-to-compete and patents. Amortizable intangible assets are amortized on either an accelerated or a straight-line basis over 5 to 25 years. The Company reviews the carrying amounts of goodwill and other non-amortizable intangible assets annually, or when indications of impairment exist, to determine if such assets may be impaired. If the Company’s qualitative assessment concludes that it is more likely than not that an impairment exists, or the Company skips the qualitative assessment, then the Company performs a quantitative assessment. If the carrying amounts of these assets are deemed to be less than fair value based upon a discounted cash flow analysis and comparison to comparable earnings multiples of peer companies, such assets are reduced to their estimated fair value and a charge is made to operations. The remaining weighted-average amortization period for customer-based intangibles and other intangibles are both 12 years, respectively, at May 31, 2015 and May 31, 2014.
Long-lived Assets	Long-lived Assets Management reviews the carrying values of its long-lived assets to be held and used, including definite-lived intangible assets, for possible impairment whenever events or changes in business conditions warrant such a review. The carrying value of a long-lived asset is considered impaired when the anticipated separately identifiable undiscounted cash flows over the remaining useful life of the asset are less than the carrying value of the asset. In such an event, fair value is determined using discounted cash flows and if lower than the carrying value, impairment is recognized through a charge to operations.
Reclassifications	Reclassifications Certain amounts in the fiscal 2014 and 2013 financial statements have been reclassified to conform to the fiscal 2015 presentation.
Stock Options	Stock Options At May 31, 2015, the Company had stock option plans which are described more fully in Note 5. The weighted-average fair value per share of stock options granted during fiscal years 2015, 2014 and 2013, estimated on the date of grant using the Black-Scholes option pricing model, was $11.91, $9.87 and $9.21, respectively. The fair value of stock options granted was estimated using the following weighted-average assumptions: Year ended May 31 2015 2014 2013 Risk-free interest rate 1.2% 0.8% 1.2% Expected dividend yield 0% 0% 0% Expected stock price volatility 36.2% 33.1% 39.2% Expected option life 4.0 years 4.0 years 4.0 years The risk-free interest rate for periods within the expected life of options granted is based on the United States Treasury yield curve in effect at the time of grant. Expected stock price volatility is based on historical volatility of the Company’s stock. The expected option life, representing the period of time that options granted are expected to be outstanding, is based on historical option exercise and employee termination data. The Company recognizes the fair value of stock options using the accelerated method over their requisite service periods which the Company has determined to be the vesting periods.
Revenue Recognition	Revenue Recognition Revenue from products and services is recognized when the product has been shipped or the service performed, the sales price is fixed and determinable, and collection of any receivable is probable. To the extent that customer payment has been received before all recognition criteria are met, these revenues are initially deferred and later recognized in the period that all recognition criteria have been met. Customer credits for sales returns, pricing and other disputes, and other related matters (including volume rebates offered to certain distributors as marketing support) represent approximately 3% of reported net revenue for each period presented.
Shipping and Handling Costs	Shipping and Handling Costs Shipping and handling costs that are charged to and reimbursed by the customer are recognized as revenues, while the related expenses incurred by the Company are recorded in sales and marketing expense; these expenses totaled $8,648,000, $7,497,000 and $6,856,000 in fiscal years 2015, 2014 and 2013, respectively.
Income Taxes	Income Taxes The Company accounts for income taxes using the asset and liability method. Under this method, deferred income tax assets and liabilities are determined based on differences between the financial reporting and tax bases of assets and liabilities and for tax credit carry forwards and are measured using the enacted tax rates in effect for the years in which the differences are expected to reverse. Deferred income tax expense represents the change in net deferred income tax assets and liabilities during the year. The Company’s foreign subsidiaries are comprised of Neogen Europe (wholly-owned subsidiary), Neogen Latinoamerica (90% owned subsidiary), Neogen do Brasil (90% owned subsidiary) and Neogen China (wholly-owned subsidiary). Based on historical experience, as well as the Company’s future plans, earnings from these subsidiaries are expected to be re-invested indefinitely for future expansion and working capital needs. Furthermore, the Company’s domestic operations have historically produced sufficient operating cash flow to mitigate the need to remit foreign earnings. On an annual basis, the Company evaluates the current business environment and whether any new events or other external changes might require a re-evaluation of the decision to indefinitely re-invest foreign earnings. At May 31, 2015, unremitted earnings of the foreign subsidiaries were $24,423,000.
Research and Development Costs	Research and Development Costs Research and development costs, which consist primarily of compensation costs, administrative expenses and new product development, among other items, are expensed as incurred.
Advertising Costs	Advertising Costs Advertising costs are expensed as incurred and totaled $1,371,000, $1,344,000 and $1,055,000 in fiscal years 2015, 2014 and 2013, respectively.
Net Income Attributable to Neogen per Share	Net Income Attributable to Neogen per Share Basic net income per share is based on the weighted average number of common shares outstanding during each year. Diluted earnings per share is based on the weighted average number of common shares and dilutive potential common shares outstanding. The Company’s dilutive potential common shares outstanding during the years result entirely from dilutive stock options. The following table presents the net income per share calculations: Year ended May 31 (in thousands, except per share) 2015 2014 2013 Numerator for basic and diluted net income per share - Net income attributable to Neogen $ 33,526 $ 28,158 $ 27,190 Denominator - Denominator for basic net income per share weighted average shares 36,953 36,511 35,768 Effect of dilutive stock options 491 756 723 Denominator for diluted net income per share 37,444 37,267 36,491 Net income attributable to Neogen per share Basic $ 0.91 $ 0.77 $ 0.76 Diluted $ 0.90 $ 0.76 $ 0.75 At May 31, 2014 and 2013, 48,716 and 88,912 shares, respectively, were excluded from the computations of diluted net income per share, as the option exercise prices exceeded the average market price of the common shares. At May 31, 2015, the market price of the common stock exceeded the option exercise price for all outstanding options; therefore, no shares were excluded from the computation. On October 30, 2013, the Company paid a 3-for-2 stock split effected in the form of a dividend of its common stock. All share and per share amounts, with the exception of par value per share, have been adjusted to reflect the stock split as if it had taken place at the beginning of the period presented. The common stock and additional paid-in capital accounts at May 31, 2013 reflect the retroactive capitalization of the 3-for-2 stock split.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board issued a new standard on revenue recognition. The new standard outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and jurisdictions and also requires enhanced disclosures. The guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. Early adoption is not permitted. We are currently evaluating the impact of the adoption of this standard on our consolidated financial statements.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	May. 31, 2015
Allowance for Doubtful Accounts	The activity in the allowance for doubtful accounts was as follows: Year ended May 31 (In Thousands) 2015 2014 2013 Beginning Balance $ 1,200 $ 900 $ 800 Provision 337 367 193 Recoveries 92 8 24 Write-offs (329 ) (75 ) (117 ) Ending Balance $ 1,300 $ 1,200 $ 900
Inventories	The components of inventories were as follows: May 31 (in thousands) 2015 2014 Raw materials $ 21,605 $ 21,515 Work-in-process 3,972 3,681 Finished and purchased finished goods 26,024 25,982 $ 51,601 $ 51,178
Fair Value of Stock Options Granted, Estimated using Weighted-Average Assumptions	The fair value of stock options granted was estimated using the following weighted-average assumptions: Year ended May 31 2015 2014 2013 Risk-free interest rate 1.2% 0.8% 1.2% Expected dividend yield 0% 0% 0% Expected stock price volatility 36.2% 33.1% 39.2% Expected option life 4.0 years 4.0 years 4.0 years
Calculation of Net Income Per Share	The following table presents the net income per share calculations: Year ended May 31 (in thousands, except per share) 2015 2014 2013 Numerator for basic and diluted net income per share - Net income attributable to Neogen $ 33,526 $ 28,158 $ 27,190 Denominator - Denominator for basic net income per share weighted average shares 36,953 36,511 35,768 Effect of dilutive stock options 491 756 723 Denominator for diluted net income per share 37,444 37,267 36,491 Net income attributable to Neogen per share Basic $ 0.91 $ 0.77 $ 0.76 Diluted $ 0.90 $ 0.76 $ 0.75

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	May. 31, 2015
Goodwill by Business Segment	The following table summarizes goodwill by reportable segment: (in thousands) Food Safety Animal Safety Total Balance, May 31, 2013 $ 16,696 $ 42,795 $ 59,491 Goodwill acquired and/or adjusted 0 8,699 8,699 Balance, May 31, 2014 16,696 51,494 68,190 Goodwill acquired and/or adjusted 2,110 (181 ) 1,929 Balance, May 31, 2015 $ 18,806 $ 51,313 $ 70,119
Amortizable of Intangible Assets	Amortizable intangible assets consisted of the following and are included in customer based intangible and other noncurrent assets within the consolidated balance sheets: (in thousands) Gross Less Net Licenses $ 4,919 $ 1,630 $ 3,289 Covenants not to compete 428 124 304 Patents 7,701 3,087 4,614 Customer relationship intangibles 38,616 14,446 24,170 Other product and service related intangibles 6,233 1,236 4,997 Balance, May 31, 2015 $ 57,897 $ 20,523 $ 37,374 Licenses $ 6,701 $ 1,873 $ 4,828 Covenants not to compete 474 256 218 Patents 5,990 2,746 3,244 Customer relationship intangibles 37,145 11,915 25,230 Other product and service-related intangibles 3,833 619 3,214 Balance, May 31, 2014 $ 54,143 $ 17,409 $ 36,734

Equity Compensation Plans (Tabl

Equity Compensation Plans (Tables)	12 Months Ended
	May. 31, 2015
Stock Option Activity	Qualified and non-qualified options to purchase shares of common stock may be granted to directors, officers and employees of the Company under the terms of the Company’s stock option plans. These options are granted at an exercise price of not less than the fair market value of the stock on the date of grant. Remaining shares available for grant under stock option plans were 306,000, 805,000 and 1,227,000 at May 31, 2015, 2014 and 2013, respectively. Options vest ratably over three and five year periods and the contractual terms are generally five or ten years. (Shares in thousands) Shares Weighted-Average Weighted-Average Outstanding at May 31, 2012 (863 exercisable) 2,314 $ 14.89 $ 4.63 Granted 459 28.67 9.21 Exercised (657 ) 10.61 3.43 Forfeited (24 ) 19.67 6.07 Outstanding at May 31, 2013 (749 exercisable) 2,092 19.21 6.00 Granted 512 36.44 9.87 Exercised (643 ) 13.69 4.28 Forfeited (92 ) 22.08 6.65 Outstanding at May 31, 2014 (577 exercisable) 1,869 25.69 7.62 Granted 536 39.79 11.91 Exercised (380 ) 16.69 5.17 Forfeited (37 ) 33.55 9.45 Outstanding at May 31, 2015 (639 exercisable) 1,988 31.04 9.20
Summary of Stock Options Outstanding	The following is a summary of stock options outstanding at May 31, 2015: (Options in thousands) Options Outstanding Options Exercisable Range of Exercise price Number Average Remaining (in years) Weighted-Average Number Weighted Average $ 5.45 - $ 22.91 261 2.4 $ 17.10 198 $ 16.58 22.92 - 28.26 321 1.8 23.17 184 23.22 28.27 - 32.37 411 3.0 28.67 164 28.67 32.38 - 38.03 432 3.6 36.07 81 36.07 38.04 - 43.67 563 5.1 39.90 12 41.60 1,988 3.5 31.04 639 24.50

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	May. 31, 2015
Income Before Income Taxes	Income before income taxes by source consists of the following amounts: Year ended May 31 (in thousands) 2015 2014 2013 U.S. $ 45,156 $ 37,568 $ 37,407 Foreign 6,920 5,463 3,734 $ 52,076 $ 43,031 $ 41,141
Provision for Income Taxes	The provision for income taxes consisted of the following: Year ended May 31 (in thousands) 2015 2014 2013 Current: U.S. Taxes $ 15,269 $ 14,442 $ 12,959 Foreign 1,364 1,100 854 Deferred 1,867 (542 ) 287 $ 18,500 $ 15,000 $ 14,100
Reconciliation of Income Taxes Computed at U.S. Federal Statutory Tax Rate to Income Tax Expense	The reconciliation of income taxes computed at the U.S. federal statutory tax rate to income tax expense is as follows: Year ended May 31 (in thousands) 2015 2014 2013 Tax at U.S. statutory rates $ 18,227 $ 15,061 $ 14,400 Tax credits and other (581 ) (574 ) (980 ) Provisions for state income taxes, net of federal benefit 854 513 680 $ 18,500 $ 15,000 $ 14,100
Significant Components of Deferred Income Tax Liabilities and Assets	Significant components of the Company’s deferred income tax liabilities and assets are as follows: May 31 (in thousands) 2015 2014 Deferred income tax liabilities Indefinite and long-lived assets $ (15,906 ) $ (13,759 ) Prepaid expenses (431 ) (358 ) (16,337 ) (14,117 ) Deferred income tax assets Inventories and accounts receivable 1,809 1,471 Accrued expenses and other 2,808 2,201 4,617 3,672 Net deferred income tax liabilities $ (11,720 ) $ (10,445 )

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	May. 31, 2015
Segment Information	Segment information is as follows: (in thousands) Food Safety Animal Safety Corporate and Total Fiscal 2015 Product revenues to external customers $ 124,021 $ 123,919 $ 0 $ 247,940 Service revenues to external customers 7,458 27,676 0 35,134 Total revenues to external customers 131,479 151,595 0 283,074 Operating income (loss) 30,265 26,034 (3,181 ) 53,118 Depreciation and amortization 4,620 6,029 0 10,649 Total assets 145,576 144,161 102,444 392,181 Expenditures for long-lived assets 4,216 5,403 0 9,619 Fiscal 2014 Product revenues to external customers $ 111,545 $ 108,189 $ 0 $ 219,734 Service revenues to external customers 4,745 22,926 0 27,671 Total revenues to external customers 116,290 131,115 0 247,405 Operating income (loss) 28,009 18,571 (3,189 ) 43,391 Depreciation and amortization 4,181 4,999 0 9,180 Total assets 105,607 173,643 66,051 345,301 Expenditures for long-lived assets 5,999 5,544 0 11,543 Fiscal 2013 Product revenues to external customers $ 102,971 $ 81,163 $ 0 $ 184,134 Service revenues to external customers 3,187 20,207 0 23,394 Total revenues to external customers 106,158 101,370 0 207,528 Operating income (loss) 27,366 15,858 (2,518 ) 40,706 Depreciation and amortization 3,874 3,537 0 7,411 Total assets 93,079 121,908 75,571 290,558 Expenditures for long-lived assets 6,046 2,851 0 8,897 (1) Includes corporate assets, including cash and cash equivalents, marketable securities, current and deferred tax accounts, and overhead expenses not allocated to specific business segments. Also includes the elimination of intersegment transactions and noncontrolling interests.

Summary of Quarterly Data (Un26

Summary of Quarterly Data (Unaudited) (Tables)	12 Months Ended
	May. 31, 2015
Summary of Quarterly Data	Quarter Ended (in thousands, except per share) August November February May Total revenues $ 67,599 $ 68,455 $ 68,409 $ 78,611 Gross margin 34,076 34,208 33,703 37,698 Net income attributable to Neogen 8,883 7,806 7,454 9,384 Basic net income per share 0.24 0.21 0.20 0.26 Diluted net income per share 0.24 0.21 0.20 0.25 Quarter Ended (in thousands, except per share) August November February May Total revenues $ 58,548 $ 59,599 $ 61,996 $ 67,262 Gross margin 30,364 29,491 30,705 32,038 Net income attributable to Neogen 7,839 6,207 6,575 7,537 Basic net income per share 0.22 0.17 0.18 0.20 Diluted net income per share 0.21 0.17 0.18 0.20

Summary of Significant Accoun27

Summary of Significant Accounting Policies - Additional Information (Detail)	Dec. 31, 2013	Oct. 30, 2013	May. 31, 2015USD ($)$ / sharesshares	May. 31, 2014USD ($)$ / sharesshares	May. 31, 2013USD ($)$ / sharesshares	May. 31, 2012USD ($)
Significant Accounting Policies [Line Items]
Stock Split ratio		1.5
Cash and cash equivalents			$ 66,061,000	$ 40,675,000	$ 50,032,000	$ 49,045,000
Cash held at foreign subsidiaries			13,277,000	10,234,000
Short-term domestic certificates of deposit			26,109,000
Commercial Paper			21,994,000
Marketable securities			48,103,000	35,821,000
Valuation allowance for inventory			1,550,000	1,425,000
Depreciation expense			$ 6,318,000	$ 5,383,000	$ 4,417,000
Weighted-average fair value per share of stock options granted | $ / shares			$ 11.91	$ 9.87	$ 9.21
Percentage of customer credits for sales returns, pricing and other disputes, and other related matters against net revenue			3.00%
Shipping and handling costs			$ 8,648,000	$ 7,497,000	$ 6,856,000
Unremitted earnings of foreign subsidiaries			24,423,000
Advertising costs			$ 1,371,000	$ 1,344,000	$ 1,055,000
Shares excluded from computations of diluted net income per share | shares			0	48,716	88,912
Minimum
Significant Accounting Policies [Line Items]
Marketable securities, maturity period			91 days
Finite lived intangible assets, useful life			5 years
Maximum
Significant Accounting Policies [Line Items]
Marketable securities, maturity period			1 year
Finite lived intangible assets, useful life			25 years
Buildings And Improvements | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful life			7 years	7 years	7 years
Buildings And Improvements | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful life			39 years	39 years	39 years
Furniture, Machinery and Equipment | Minimum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful life			3 years	3 years	3 years
Furniture, Machinery and Equipment | Maximum
Significant Accounting Policies [Line Items]
Property, plant and equipment estimated useful life			10 years	10 years	10 years
Customer Relationships
Significant Accounting Policies [Line Items]
Finite lived intangible assets, useful life			12 years	12 years
Customer Relationships | Minimum
Significant Accounting Policies [Line Items]
Finite lived intangible assets, useful life			10 years
Customer Relationships | Maximum
Significant Accounting Policies [Line Items]
Finite lived intangible assets, useful life			20 years
Other Intangible Assets
Significant Accounting Policies [Line Items]
Finite lived intangible assets, useful life			12 years	12 years
Neogen Latin America
Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiaries			90.00%	90.00%
Percentage of ownership in subsidiaries before capital contribution	60.00%
Percentage of ownership in subsidiaries after capital contribution	90.00%
Neogen Do Brazil
Significant Accounting Policies [Line Items]
Percentage of ownership in subsidiaries			90.00%	90.00%
Customer one
Significant Accounting Policies [Line Items]
Account receivable percentage from major customer			10.00%

Activity in Allowance for Doubt

Activity in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Financing Receivable, Allowance for Credit Losses [Line Items]
Beginning Balance	$ 1,200	$ 900	$ 800
Provision	337	367	193
Recoveries	92	8	24
Write-offs	(329)	(75)	(117)
Ending Balance	$ 1,300	$ 1,200	$ 900

Inventories (Detail)

Inventories (Detail) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Inventory [Line Items]
Raw materials	$ 21,605	$ 21,515
Work-in-process	3,972	3,681
Finished and purchased finished goods	26,024	25,982
Inventories	$ 51,601	$ 51,178

Fair Value of Stock Options Gra

Fair Value of Stock Options Granted, Estimated using Weighted-Average Assumptions (Detail)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Schedule of Weighted Average Assumptions for Fair Values of Stock Options [Line Items]
Risk-free interest rate	1.20%	0.80%	1.20%
Expected dividend yield	0.00%	0.00%	0.00%
Expected stock price volatility	36.20%	33.10%	39.20%
Expected option life (in years)	4 years	4 years	4 years

Calculation of Net Income Per S

Calculation of Net Income Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Earnings Per Share [Line Items]
Numerator for basic and diluted net income per share - Net income attributable to Neogen	$ 9,384	$ 7,454	$ 7,806	$ 8,883	$ 7,537	$ 6,575	$ 6,207	$ 7,839	$ 33,526	$ 28,158	$ 27,190
Denominator - Denominator for basic net income per share weighted average shares									36,953	36,511	35,768
Effect of dilutive stock options									491	756	723
Denominator for diluted net income per share									37,444	37,267	36,491
Net Income Attributable to Neogen Per Share
Basic	$ 0.26	$ 0.20	$ 0.21	$ 0.24	$ 0.20	$ 0.18	$ 0.17	$ 0.22	$ 0.91	$ 0.77	$ 0.76
Diluted	$ 0.25	$ 0.20	$ 0.21	$ 0.24	$ 0.20	$ 0.18	$ 0.17	$ 0.21	$ 0.90	$ 0.76	$ 0.75

Goodwill By Business Segment (D

Goodwill By Business Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014
Goodwill [Line Items]
Beginning Balance	$ 68,190	$ 59,491
Goodwill acquired and/or adjusted	1,929	8,699
Ending Balance	70,119	68,190
Food Safety
Goodwill [Line Items]
Beginning Balance	16,696	16,696
Goodwill acquired and/or adjusted	2,110	0
Ending Balance	18,806	16,696
Animal Safety
Goodwill [Line Items]
Beginning Balance	51,494	42,795
Goodwill acquired and/or adjusted	(181)	8,699
Ending Balance	$ 51,313	$ 51,494

Goodwill and Other Intangible33

Goodwill and Other Intangible Asset Table - Additional Information (Detail) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Goodwill And Other Intangible Asset [Line Items]
Non-amortizable intangible assets	$ 9,020,000	$ 9,682,000
Amortization expense for intangible assets	4,331,000	3,797,000	$ 2,994,000
Estimated amortization expense for period, 2016	4,323,000
Estimated amortization expense for period, 2017	4,186,000
Estimated amortization expense for period, 2018	3,949,000
Estimated amortization expense for period, 2019	3,329,000
Estimated amortization expense for period, 2020	$ 3,061,000
Minimum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	5 years
Maximum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	25 years
Licenses
Goodwill And Other Intangible Asset [Line Items]
Non-amortizable intangible assets	$ 569,000	569,000
Licenses | Minimum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	5 years
Licenses | Maximum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	20 years
Trademarks
Goodwill And Other Intangible Asset [Line Items]
Non-amortizable intangible assets	$ 7,227,000	7,889,000
Other Intangible Assets
Goodwill And Other Intangible Asset [Line Items]
Non-amortizable intangible assets	$ 1,224,000	$ 1,224,000
Finite lived intangible assets, useful life	12 years	12 years
Noncompete Agreements
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	5 years
Patents | Minimum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	5 years
Patents | Maximum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	25 years
Customer Relationships
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	12 years	12 years
Customer Relationships | Minimum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	10 years
Customer Relationships | Maximum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	20 years
Other product and service-related intangibles | Minimum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	5 years
Other product and service-related intangibles | Maximum
Goodwill And Other Intangible Asset [Line Items]
Finite lived intangible assets, useful life	20 years

Amortizable of Intangible Asset

Amortizable of Intangible Assets (Detail) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 57,897	$ 54,143
Less Accumulated Amortization	20,523	17,409
Net Carrying Amount	37,374	36,734
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	4,919	6,701
Less Accumulated Amortization	1,630	1,873
Net Carrying Amount	3,289	4,828
Noncompete Agreements
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	428	474
Less Accumulated Amortization	124	256
Net Carrying Amount	304	218
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	7,701	5,990
Less Accumulated Amortization	3,087	2,746
Net Carrying Amount	4,614	3,244
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	38,616	37,145
Less Accumulated Amortization	14,446	11,915
Net Carrying Amount	24,170	25,230
Other product and service-related intangibles
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	6,233	3,833
Less Accumulated Amortization	1,236	619
Net Carrying Amount	$ 4,997	$ 3,214

Business Combinations - Additio

Business Combinations - Additional Information (Detail) - USD ($)

Jun. 01, 2015

Dec. 08, 2014

Oct. 01, 2014

Jan. 02, 2014

Nov. 01, 2013

Jul. 01, 2013

Jan. 02, 2013

Oct. 01, 2012

Feb. 28, 2015

Oct. 31, 2014

Aug. 31, 2014

Oct. 31, 2013

May. 31, 2015

May. 31, 2014

May. 31, 2013

Business Acquisition [Line Items]

Reversed the remaining contingent consideration accrual to other income

$ (297,000)

$ 38,000

$ (14,000)

Minimum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

5 years

Maximum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

25 years

SyrVet, Inc.

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 10,012,000

Contingent consideration potential payment

1,500,000

Purchase price allocation for accounts receivable

747,000

Purchase price allocation for inventory

2,195,000

Purchase price allocation for property and equipment

556,000

Purchase price allocation for current liabilities

226,000

Allocation of purchase price for contingent consideration potential payment

930,000

Purchase price allocation for intangible assets

$ 4,810,000

Cash paid for contingent consideration

$ 689,000

Finite lived intangible assets, useful life

15 years

Reversed the remaining contingent consideration accrual to other income

$ 241,000

SyrVet, Inc. | Trademarks

Business Acquisition [Line Items]

Purchase price allocation for non-amortizable trademarks

$ 790,000

Macleod Pharmaceuticals

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 9,918,000

Contingent consideration potential payment

100,000

Purchase price allocation for accounts receivable

353,000

Purchase price allocation for inventory

1,238,000

Purchase price allocation for property and equipment

300,000

Purchase price allocation for current liabilities

82,000

Purchase price allocation for deferred tax liabilities, current

2,054,000

Allocation of purchase price for contingent consideration potential payment

100,000

Purchase price allocation for intangible assets

$ 5,542,000

Cash paid for contingent consideration

$ 62,000

Reversed the remaining contingent consideration accrual to other income

$ 38,000

Scidera Genomics, LLC

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 3,400,000

Purchase price allocation for property and equipment

246,000

Purchase price allocation for intangible assets

1,570,000

Purchase price allocation for current assets

$ 35,000

Prima Tech Incorporated

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 12,068,000

Contingent consideration potential payment

600,000

Purchase price allocation for accounts receivable

963,000

Purchase price allocation for inventory

2,796,000

Purchase price allocation for property and equipment

1,653,000

Purchase price allocation for current liabilities

1,840,000

Allocation of purchase price for contingent consideration potential payment

146,000

Purchase price allocation for intangible assets

4,400,000

Cash paid for contingent consideration

$ 600,000

Purchase price allocation for prepaid assets

$ 8,000

Cash accrued for contingent consideration

$ 454,000

Prima Tech Incorporated | Minimum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

5 years

Prima Tech Incorporated | Maximum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

15 years

Prima Tech Incorporated | Trademarks

Business Acquisition [Line Items]

Purchase price allocation for non-amortizable trademarks

$ 1,500,000

Chem Tech Ltd

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 17,185,000

Contingent consideration potential payment

1,000,000

Purchase price allocation for accounts receivable

380,000

Purchase price allocation for inventory

4,184,000

Purchase price allocation for property and equipment

807,000

Purchase price allocation for current liabilities

184,000

Allocation of purchase price for contingent consideration potential payment

390,000

Purchase price allocation for intangible assets

8,327,000

Cash paid for contingent consideration

$ 474,000

Purchase price allocation for prepaid assets

$ 100,000

Cash accrued for contingent consideration

$ 84,000

Chem Tech Ltd | Minimum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

5 years

Chem Tech Ltd | Maximum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

25 years

BioLumix, Inc.

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 4,514,000

Purchase price allocation for accounts receivable

499,000

Purchase price allocation for inventory

421,000

Purchase price allocation for property and equipment

159,000

Purchase price allocation for current liabilities

130,000

Purchase price allocation for intangible assets

2,109,000

Purchase price allocation for prepaid assets

48,000

Purchase price allocation for other receivable

178,000

Purchase price allocation for long-term liabilities

$ 813,000

BioLumix, Inc. | Minimum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

5 years

BioLumix, Inc. | Maximum

Business Acquisition [Line Items]

Finite lived intangible assets, useful life

15 years

Sterling Test House | Subsequent Event

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 1,100,000

Beijing Anapure BioScientific Co., Ltd.

Business Acquisition [Line Items]

Cash consideration for purchase of business

$ 2,040,000

Purchase price allocation for inventory

525,000

Purchase price allocation for property and equipment

64,000

Purchase price allocation for intangible assets

$ 20,000

Finite lived intangible assets, useful life

5 years

Long Term Debt - Additional Inf

Long Term Debt - Additional Information (Detail) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Debt Instrument [Line Items]
Unsecured revolving line of credit, total amount available	$ 12,000,000
Unsecured revolving line of credit, interest terms	LIBOR plus 100 basis points
Unsecured revolving line of credit, interest rate	1.19%
Unsecured revolving line of credit, balance outstanding	$ 0	$ 0	$ 0
Unsecured revolving line of credit, advances	$ 0	$ 0	$ 0
After Amendment [Member]
Debt Instrument [Line Items]
Unsecured revolving line of credit, maturity date	Sep. 1, 2017
Libor Plus [Member]
Debt Instrument [Line Items]
Unsecured revolving line of credit, spread	1.00%

Equity Compensation Plans - Add

Equity Compensation Plans - Additional Information (Detail) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	306,000	805,000	1,227,000
Options Exercisable, Weighted Average Exercise Price	$ 24.50	$ 18.91
Aggregate intrinsic value of options outstanding	$ 31,204,000	$ 22,751,000	$ 35,778,000
Aggregate intrinsic value of options exercisable	14,201,000	10,984,000	16,557,000
Aggregate intrinsic value of options exercised	10,690,000	$ 17,669,000	$ 12,519,000
Remaining compensation cost to be expensed in future periods for non-vested options	$ 13,567,000
Weighted average expense recognition period	2 years 10 months 24 days
Number of shares purchased by employees	19,592	18,466	22,388
Employee Stock Purchase Plan | 2011 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of additional shares authorized	375,000
Annual maximum limit percentage of compensation to purchase shares	5.00%
Employee stock purchase plan stock price percentage	10.00%
Employee Stock Purchase Plan | 2002 Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant	45,717
Number of shares authorized for grant	337,500
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	3 years
Stock option contractual terms	5 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option vesting period	5 years
Stock option contractual terms	10 years

Stock Option Activity (Detail)

Stock Option Activity (Detail) - $ / shares shares in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Shares Outstanding, Beginning Balance	1,869	2,092	2,314
Shares, Granted	536	512	459
Shares, Exercised	(380)	(643)	(657)
Shares, Forfeited	(37)	(92)	(24)
Shares Outstanding, Ending Balance	1,988	1,869	2,092
Weighted-Average Exercise Price, Beginning Balance	$ 25.69	$ 19.21	$ 14.89
Weighted-Average Exercise Price, Granted	39.79	36.44	28.67
Weighted-Average Exercise Price, Exercised	16.69	13.69	10.61
Weighted-Average Exercise Price, Forfeited	33.55	22.08	19.67
Weighted-Average Exercise Price, Ending Balance	31.04	25.69	19.21
Weighted-Average Grant Date Fair Value, Beginning Balance	7.62	6	4.63
Weighted-Average Grant Date Fair Value, Granted	11.91	9.87	9.21
Weighted-Average Grant Date Fair Value, Exercised	5.17	4.28	3.43
Weighted-Average Grant Date Fair Value, Forfeited	9.45	6.65	6.07
Weighted-Average Grant Date Fair Value, Ending Balance	$ 9.20	$ 7.62	$ 6

Stock Option Activity (Parenthe

Stock Option Activity (Parenthetical) (Detail) - shares shares in Thousands	May. 31, 2015	May. 31, 2014	May. 31, 2013	May. 31, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Shares Outstanding, Exercisable Beginning Balance	639	577	749	863

Summary of Stock Options Outsta

Summary of Stock Options Outstanding (Detail) - $ / shares shares in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013	May. 31, 2012
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Options Outstanding, Number	1,988	1,869	2,092	2,314
Options Outstanding, Average Remaining Contractual Life	3 years 6 months
Options Outstanding, Weighted-Average Exercise Price	$ 31.04	$ 25.69	$ 19.21	$ 14.89
Options Exercisable, Number	639	577	749	863
Options Exercisable, Weighted Average Exercise Price	$ 24.50	$ 18.91
$ 5.45 - $ 22.91
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise price, minimum	5.45
Range of Exercise price, maximum	$ 22.91
Options Outstanding, Number	261
Options Outstanding, Average Remaining Contractual Life	2 years 4 months 24 days
Options Outstanding, Weighted-Average Exercise Price	$ 17.10
Options Exercisable, Number	198
Options Exercisable, Weighted Average Exercise Price	$ 16.58
$ 22.92 - $ 28.26
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise price, minimum	22.92
Range of Exercise price, maximum	$ 28.26
Options Outstanding, Number	321
Options Outstanding, Average Remaining Contractual Life	1 year 9 months 18 days
Options Outstanding, Weighted-Average Exercise Price	$ 23.17
Options Exercisable, Number	184
Options Exercisable, Weighted Average Exercise Price	$ 23.22
$ 28.27 - $ 32.37
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise price, minimum	28.27
Range of Exercise price, maximum	$ 32.37
Options Outstanding, Number	411
Options Outstanding, Average Remaining Contractual Life	3 years
Options Outstanding, Weighted-Average Exercise Price	$ 28.67
Options Exercisable, Number	164
Options Exercisable, Weighted Average Exercise Price	$ 28.67
$ 32.38 - $ 38.03
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise price, minimum	32.38
Range of Exercise price, maximum	$ 38.03
Options Outstanding, Number	432
Options Outstanding, Average Remaining Contractual Life	3 years 7 months 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 36.07
Options Exercisable, Number	81
Options Exercisable, Weighted Average Exercise Price	$ 36.07
$ 38.04 - $ 43.67
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]
Range of Exercise price, minimum	38.04
Range of Exercise price, maximum	$ 43.67
Options Outstanding, Number	563
Options Outstanding, Average Remaining Contractual Life	5 years 1 month 6 days
Options Outstanding, Weighted-Average Exercise Price	$ 39.90
Options Exercisable, Number	12
Options Exercisable, Weighted Average Exercise Price	$ 41.60

Income Before Income Taxes (Det

Income Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Income Before Income Taxes [Line Items]
Income Before Income Taxes	$ 52,076	$ 43,031	$ 41,141
U.S.
Income Before Income Taxes [Line Items]
Income Before Income Taxes	45,156	37,568	37,407
Foreign
Income Before Income Taxes [Line Items]
Income Before Income Taxes	$ 6,920	$ 5,463	$ 3,734

Provision for Income Taxes (Det

Provision for Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Current:
U.S. Taxes	$ 15,269	$ 14,442	$ 12,959
Foreign	1,364	1,100	854
Deferred	1,867	(542)	287
Provision for Income Taxes	$ 18,500	$ 15,000	$ 14,100

Reconciliation of Income Taxes

Reconciliation of Income Taxes Computed at the U.S. Federal Statutory Tax Rate to Income Tax Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Components Of Deferred Income Tax Assets And Liabilities [Line Items]
Tax at U.S. statutory rates	$ 18,227	$ 15,061	$ 14,400
Tax credits and other	(581)	(574)	(980)
Provisions for state income taxes, net of federal benefit	854	513	680
Provision for Income Taxes	$ 18,500	$ 15,000	$ 14,100

Significant Components of Defer

Significant Components of Deferred Income Tax Liabilities and Assets (Detail) - USD ($) $ in Thousands	May. 31, 2015	May. 31, 2014
Deferred income tax liabilities
Indefinite and long-lived assets	$ (15,906)	$ (13,759)
Prepaid expenses	(431)	(358)
Deferred Tax Liabilities, Gross	(16,337)	(14,117)
Deferred income tax assets
Inventories and accounts receivable	1,809	1,471
Accrued expenses and other	2,808	2,201
Deferred Tax Assets, Net of Valuation Allowance, Total	4,617	3,672
Net deferred income tax liabilities	$ (11,720)	$ (10,445)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Commitments and Contingencies Disclosure [Line Items]
Environmental remediation expense, period of remediation, years	5 years
Estimated liability costs of remediation	$ 916,000	$ 916,000
Estimated liability costs of remediation, current	$ 50,000	50,000
Estimated liability, measurement period, years	15 years
Royalty Expense	$ 2,189,000	2,278,000	$ 1,837,000
Future minimum royalty payment for period, 2016	643,000
Future minimum royalty payment for period, 2017	634,000
Future minimum royalty payment for period, 2018	659,000
Future minimum royalty payment for period, 2019	659,000
Office and Manufacturing facilities operating lease expense	736,000	$ 856,000	$ 657,000
Future minimum rental payments for 2016	424,000
Future minimum rental payments for 2017	161,000
Future minimum rental payments for 2018	161,000
Future minimum rental payments for 2019	85,200
Future minimum rental payments for 2020 and later	62,400
Minimum
Commitments and Contingencies Disclosure [Line Items]
Environmental remediation expense	47,000
Maximum
Commitments and Contingencies Disclosure [Line Items]
Environmental remediation expense	$ 56,000

Defined Contribution Benefit 46

Defined Contribution Benefit Plan - Additional Information (Detail) - USD ($)	12 Months Ended
	May. 31, 2015	May. 31, 2014	May. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Defined contribution 401(K) benefit expense	$ 1,051,000	$ 954,000	$ 863,000
First 3% employees deferred amount
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employer matching contribution	100.00%
Next 2% employees deferred amount
Defined Benefit Plan Disclosure [Line Items]
Defined contribution plan employer matching contribution	50.00%

Segment Information - Additiona

Segment Information - Additional Information (Detail)	3 Months Ended								12 Months Ended
	May. 31, 2015USD ($)	Feb. 28, 2015USD ($)	Nov. 30, 2014USD ($)	Aug. 31, 2014USD ($)	May. 31, 2014USD ($)	Feb. 28, 2014USD ($)	Nov. 30, 2013USD ($)	Aug. 31, 2013USD ($)	May. 31, 2015USD ($)Segment	May. 31, 2014USD ($)	May. 31, 2013USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | Segment									2
Net Sales	$ 78,611,000	$ 68,409,000	$ 68,455,000	$ 67,599,000	$ 67,262,000	$ 61,996,000	$ 59,599,000	$ 58,548,000	$ 283,074,000	$ 247,405,000	$ 207,528,000
Foreign Operations
Segment Reporting Information [Line Items]
Net Sales									$ 103,867,000	$ 96,111,000	$ 83,171,000
Net Sales, percentage									36.70%	38.80%	40.10%
United States
Segment Reporting Information [Line Items]
Long lived assets percentage	95.00%				95.00%				95.00%	95.00%

Segment Information (Detail)

Segment Information (Detail) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Segment Reporting Information [Line Items]
Product revenues to external customers										$ 247,940	$ 219,734	$ 184,134
Service revenues to external customers										35,134	27,671	23,394
Total revenues to external customers		$ 78,611	$ 68,409	$ 68,455	$ 67,599	$ 67,262	$ 61,996	$ 59,599	$ 58,548	283,074	247,405	207,528
Operating income (loss)										53,118	43,391	40,706
Depreciation and amortization										10,649	9,180	7,411
Total assets		392,181				345,301				392,181	345,301	290,558
Expenditures for long-lived assets										9,619	11,543	8,897
Operating Segments | Food Safety
Segment Reporting Information [Line Items]
Product revenues to external customers										124,021	111,545	102,971
Service revenues to external customers										7,458	4,745	3,187
Total revenues to external customers										131,479	116,290	106,158
Operating income (loss)										30,265	28,009	27,366
Depreciation and amortization										4,620	4,181	3,874
Total assets		145,576				105,607				145,576	105,607	93,079
Expenditures for long-lived assets										4,216	5,999	6,046
Operating Segments | Animal Safety
Segment Reporting Information [Line Items]
Product revenues to external customers										123,919	108,189	81,163
Service revenues to external customers										27,676	22,926	20,207
Total revenues to external customers										151,595	131,115	101,370
Operating income (loss)										26,034	18,571	15,858
Depreciation and amortization										6,029	4,999	3,537
Total assets		144,161				173,643				144,161	173,643	121,908
Expenditures for long-lived assets										5,403	5,544	2,851
Corporate and Eliminations
Segment Reporting Information [Line Items]
Product revenues to external customers	[1]									0	0	0
Service revenues to external customers	[1]									0	0	0
Total revenues to external customers	[1]									0	0	0
Operating income (loss)	[1]									(3,181)	(3,189)	(2,518)
Depreciation and amortization	[1]									0	0	0
Total assets	[1]	$ 102,444				$ 66,051				102,444	66,051	75,571
Expenditures for long-lived assets	[1]									$ 0	$ 0	$ 0
[1]	Includes corporate assets, including cash and cash equivalents, marketable securities, current and deferred tax accounts, and overhead expenses not allocated to specific business segments. Also includes the elimination of intersegment transactions and noncontrolling interests.

Stock Repurchase - Additional I

Stock Repurchase - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	May. 31, 2015	Dec. 31, 2008
Stock Repurchase Program [Line Items]
Shares authorized to purchase		1,125,000
Cumulative number of shares repurchased	112,026
Cost of repurchased shares, including commissions	$ 923

Summary of Quarterly Data (Deta

Summary of Quarterly Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	May. 31, 2015	Feb. 28, 2015	Nov. 30, 2014	Aug. 31, 2014	May. 31, 2014	Feb. 28, 2014	Nov. 30, 2013	Aug. 31, 2013	May. 31, 2015	May. 31, 2014	May. 31, 2013
Quarterly Financial Information [Line Items]
Total revenues	$ 78,611	$ 68,409	$ 68,455	$ 67,599	$ 67,262	$ 61,996	$ 59,599	$ 58,548	$ 283,074	$ 247,405	$ 207,528
Gross margin	37,698	33,703	34,208	34,076	32,038	30,705	29,491	30,364	139,685	122,598	109,494
Net income attributable to Neogen	$ 9,384	$ 7,454	$ 7,806	$ 8,883	$ 7,537	$ 6,575	$ 6,207	$ 7,839	$ 33,526	$ 28,158	$ 27,190
Basic net income per share	$ 0.26	$ 0.20	$ 0.21	$ 0.24	$ 0.20	$ 0.18	$ 0.17	$ 0.22	$ 0.91	$ 0.77	$ 0.76
Diluted net income per share	$ 0.25	$ 0.20	$ 0.21	$ 0.24	$ 0.20	$ 0.18	$ 0.17	$ 0.21	$ 0.90	$ 0.76	$ 0.75