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Document and Entity Information
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6 Months Ended | |
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Nov. 30, 2013
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Jan. 02, 2014
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| Document And Entity Information [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Period End Date | Nov. 30, 2013 | |
| Document Fiscal Year Focus | 2014 | |
| Document Fiscal Period Focus | Q2 | |
| Trading Symbol | ANGO | |
| Entity Registrant Name | ANGIODYNAMICS INC | |
| Entity Central Index Key | 0001275187 | |
| Current Fiscal Year End Date | --05-31 | |
| Entity Filer Category | Accelerated Filer | |
| Entity Common Stock, Shares Outstanding | 35,310,966 |
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- Details
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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Consolidated Statements of Income (USD $)
In Thousands, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Nov. 30, 2013
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Nov. 30, 2012
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Nov. 30, 2013
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Nov. 30, 2012
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| Income Statement [Abstract] | ||||
| Net sales | $ 88,616 | $ 87,007 | $ 172,195 | $ 170,423 |
| Cost of sales | 43,686 | 42,919 | 84,783 | 86,877 |
| Gross profit | 44,930 | 44,088 | 87,412 | 83,546 |
| Operating expenses | ||||
| Research and development | 7,003 | 7,014 | 13,712 | 14,088 |
| Sales and marketing | 21,073 | 18,671 | 41,036 | 37,214 |
| General and administrative | 6,323 | 6,910 | 12,851 | 13,808 |
| Amortization of intangibles | 4,339 | 4,107 | 8,623 | 7,844 |
| Change in fair value of contingent consideration | 940 | 197 | 1,673 | 197 |
| Acquisition, restructuring and other items, net | 2,679 | 2,067 | 4,681 | 4,589 |
| Medical device excise tax | 999 | 1,975 | ||
| Total operating expenses | 43,356 | 38,966 | 84,551 | 77,740 |
| Operating income | 1,574 | 5,122 | 2,861 | 5,806 |
| Other income (expenses) | ||||
| Interest expense | (959) | (1,383) | (2,205) | (2,715) |
| Interest income | 21 | 103 | ||
| Other expense | (701) | (628) | (1,389) | (1,216) |
| Total other income (expenses) | (1,660) | (1,990) | (3,594) | (3,828) |
| (Loss) income before income tax (expense) benefit | (86) | 3,132 | (733) | 1,978 |
| Income tax expense (benefit) | 13 | 1,163 | (208) | 730 |
| Net (loss) income | $ (99) | $ 1,969 | $ (525) | $ 1,248 |
| (Loss) income per share | ||||
| Basic | $ 0.00 | $ 0.06 | $ (0.01) | $ 0.04 |
| Diluted | $ 0.00 | $ 0.06 | $ (0.01) | $ 0.04 |
| Basic weighted average shares outstanding | 35,132 | 34,827 | 35,041 | 34,765 |
| Diluted weighted average shares outstanding | 35,132 | 35,311 | 35,041 | 35,279 |
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- Definition
Acquisition Restructuring And Other Items Net. No definition available.
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- Definition
Change In Fair Value Of Contingent Consideration One No definition available.
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- Definition
The amount of excise tax imposed on the sale of certain medical devices. No definition available.
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- Definition
The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs related to goods produced and sold during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of operating profit and nonoperating income or expense before Income or Loss from equity method investments, income taxes, extraordinary items, and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
The aggregate amount of other expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating expense recognized during the period. Such amounts may include: (a) unusual costs, (b) loss on foreign exchange transactions, (c) losses on securities (net of profits), and (d) miscellaneous other expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Comprehensive Income (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
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Nov. 30, 2013
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Nov. 30, 2012
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Nov. 30, 2013
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Nov. 30, 2012
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| Statement Of Income And Comprehensive Income [Abstract] | ||||
| Net (loss) income | $ (99) | $ 1,969 | $ (525) | $ 1,248 |
| Other comprehensive income (loss), before tax: | ||||
| Unrealized (loss) gain on interest rate swap | (522) | 151 | (203) | 184 |
| Unrealized gain (loss) on marketable securities | 29 | (1,059) | ||
| Foreign currency translation gain | 70 | 82 | 140 | 123 |
| Other comprehensive (loss) income, before tax | (452) | 262 | (63) | (752) |
| Income tax benefit (expense) related to items of other comprehensive income | 193 | (67) | 75 | 324 |
| Other comprehensive (loss) income, net of tax | (259) | 195 | 12 | (428) |
| Total comprehensive (loss) income, net of tax | $ (358) | $ 2,164 | $ (513) | $ 820 |
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount before tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of tax expense (benefit) allocated to other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before tax of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount before tax and reclassification adjustments of unrealized holding gain (loss) on available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Business Acquisition Contingent Consideration At Fair Value Current One No definition available.
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- Definition
Business Acquisition Contingent Consideration At Fair Value Noncurrent One No definition available.
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- Definition
Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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| X | ||||||||||
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- Definition
Amount of investments in debt securities classified as available-for-sale, expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash includes currency on hand as well as demand deposits with banks or financial institutions. It also includes other kinds of accounts that have the general characteristics of demand deposits in that the customer may deposit additional funds at any time and effectively may withdraw funds at any time without prior notice or penalty. Cash equivalents, excluding items classified as marketable securities, include short-term, highly liquid Investments that are both readily convertible to known amounts of cash, and so near their maturity that they present minimal risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify under that definition. Original maturity means original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three years ago does not become a cash equivalent when its remaining maturity is three months. Short-term investments, exclusive of cash equivalents, generally consist of marketable securities intended to be sold within one year (or the normal operating cycle if longer) and may include trading securities, available-for-sale securities, or held-to-maturity securities (if maturing within one year), as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of deferred tax liability attributable to taxable temporary differences, after deferred tax asset, and other liabilities expected to be paid after one year or operating cycle, if longer. No definition available.
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards expected to be realized or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after allocation of valuation allowances of noncurrent deferred tax asset attributable to deductible temporary differences and carryforwards. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying value as of the balance sheet date of the noncurrent portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of loans payable (with maturities initially due after one year or beyond the operating cycle if longer), excluding current portion. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent assets not separately disclosed in the balance sheet. Noncurrent assets are expected to be realized or consumed after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate carrying amount, as of the balance sheet date, of noncurrent obligations not separately disclosed in the balance sheet. Noncurrent liabilities are expected to be paid after one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for royalties that provide economic benefits within a future period of one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The amount allocated to treasury stock. Treasury stock is common and preferred shares of an entity that were issued, repurchased by the entity, and are held in its treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Balance Sheets (Parenthetical) (USD $)
In Thousands, except Share data, unless otherwise specified |
Nov. 30, 2013
|
May 31, 2013
|
|---|---|---|
| Statement Of Financial Position [Abstract] | ||
| Accounts receivable, allowances | $ 1,584 | $ 1,272 |
| Preferred stock, par value | $ 0.01 | $ 0.01 |
| Preferred stock, shares authorized | 5,000,000 | 5,000,000 |
| Preferred stock, shares issued | ||
| Preferred stock, shares outstanding | ||
| Common stock, par value | $ 0.01 | $ 0.01 |
| Common stock, shares authorized | 45,000,000 | 45,000,000 |
| Common stock, shares issued | 35,305,229 | 35,060,351 |
| Common stock, shares outstanding | 35,305,229 | 35,060,351 |
| Treasury stock, shares | 142,305 | 142,305 |
| X | ||||||||||
|
- Definition
A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Face amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of common and preferred shares that were previously issued and that were repurchased by the issuing entity and held in treasury on the financial statement date. This stock has no voting rights and receives no dividends. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings for the amortization of acquired inventory basis step-up. No definition available.
|
| X | ||||||||||
|
- Definition
Change In Fair Value Of Contingent Consideration One No definition available.
|
| X | ||||||||||
|
- Definition
Noncash or part noncash acquisition intangible assets and business acquired. No definition available.
|
| X | ||||||||||
|
- Definition
Payment Of Contingent Consideration No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net book value of a nonmonetary asset transferred or exchanged in connection with the acquisition of a business or asset in a noncash transaction. Noncash is defined as transactions during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Nonmonetary assets and liabilities are assets and liabilities that will not result in cash receipts or cash payments in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Other income (expense) included in net income that results in no cash inflows or outflows in the period. Includes noncash adjustments to reconcile net income (loss) to cash provided by (used in) operating activities that are not separately disclosed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The net cash outflow or inflow from purchases, sales and disposals of property, plant and equipment and other productive assets, including intangibles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with a second acquisition of a business, net of the cash acquired from the purchase. No definition available.
|
| X | ||||||||||
|
- Definition
Cash outflow for purchase of trading, available-for-sale securities and held-to-maturity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total cash inflow associated with the amount received from holders to acquire the entity's shares under incentive and share awards, including stock option exercises. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with maturities due beyond one year or the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash inflow associated with the aggregate amount received by the entity through sale or maturity of marketable securities (held-to-maturity or available-for-sale) during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow for debt initially having maturity due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Statement of Stockholders' Equity (USD $)
In Thousands, except Share data |
Total
|
Common Stock [Member]
|
Additional Paid-in Capital [Member]
|
Retained Earnings [Member]
|
Accumulated Other Comprehensive Income (Loss) [Member]
|
Treasury Stock [Member]
|
|---|---|---|---|---|---|---|
| Beginning Balance at May. 31, 2013 | $ 526,830 | $ 351 | $ 500,554 | $ 29,563 | $ (1,534) | $ (2,104) |
| Beginning Balance, Shares at May. 31, 2013 | 35,060,351 | (142,305) | ||||
| Net loss | (525) | (525) | ||||
| Exercise of stock options | 466 | 466 | ||||
| Exercise of stock options, Shares | 54,922 | |||||
| Tax impact of stock option activity | (146) | (146) | ||||
| Purchase of common stock under ESPP | 668 | 1 | 667 | |||
| Purchase of common stock under ESPP, Shares | 71,989 | |||||
| Issuance of performance shares | 1 | 1 | ||||
| Issuance of performance shares, Shares | 117,967 | |||||
| Stock based compensation | 2,423 | 2,423 | ||||
| Other comprehensive income, net of tax | 12 | 12 | ||||
| Ending Balance at Nov. 30, 2013 | $ 529,729 | $ 353 | $ 503,964 | $ 29,038 | $ (1,522) | $ (2,104) |
| Ending Balance, Shares at Nov. 30, 2013 | 35,305,229 | (142,305) |
| X | ||||||||||
|
- Definition
This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in additional paid in capital (APIC) resulting from a tax benefit associated with share-based compensation plan other than an employee stock ownership plan (ESOP). Includes, but is not limited to, excess tax benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares of stock issued as of the balance sheet date, including shares that had been issued and were previously outstanding but which are now held in the treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares issued during the period as a result of an employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of shares (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of any shares forfeited. Shares issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of share options (or share units) exercised during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Aggregate change in value for stock issued during the period as a result of employee stock purchase plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock (or other type of equity) issued during the period as a result of any equity-based compensation plan other than an employee stock ownership plan (ESOP), net of stock value of such awards forfeited. Stock issued could result from the issuance of restricted stock, the exercise of stock options, stock issued under employee stock purchase plans, and/or other employee benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Consolidated Financial Statements
|
6 Months Ended |
|---|---|
|
Nov. 30, 2013
|
|
| Accounting Policies [Abstract] | |
| Consolidated Financial Statements | NOTE A – CONSOLIDATED FINANCIAL STATEMENTS The consolidated balance sheet as of November 30, 2013, the consolidated statement of stockholders’ equity for the six months ended November 30, 2013, the consolidated statements of income, the consolidated statements of comprehensive income and the consolidated statement of cash flows for the three and six months ended November 30, 2013 and November 30, 2012 have been prepared by us without audit. The consolidated balance sheet as of May 31, 2013 was derived from audited consolidated financial statements but does not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to state fairly the financial position, changes in stockholders’ equity and comprehensive income, results of operations and cash flows as of and for the period ended November 30, 2013 (and for all periods presented) have been made. Certain information and footnote disclosures, normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America, have been condensed or omitted. It is suggested that these unaudited interim consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K for the fiscal year ended May 31, 2013, filed by us on August 14, 2013. Our most significant accounting policies are disclosed in Note A to the consolidated financial statements included in the aforementioned Form 10-K for the fiscal year ended May 31, 2013. The results of operations in the fiscal periods ended November 30, 2013 and November 30, 2012 are not necessarily indicative of the operating results for the respective full fiscal years. The unaudited interim consolidated financial statements for the three and six months ended November 30, 2013 and November 30, 2012 include the accounts of AngioDynamics, Inc. and its wholly owned subsidiaries, RITA Medical Systems, LLC, AngioDynamics UK Limited, AngioDynamics Netherlands B.V., NM Holding Company, Inc. (Navilyst), Vortex Medical, Inc. since October 15, 2012 and Clinical Devices B.V. since August 15, 2013, (collectively, the “Company”). All intercompany balances and transactions have been eliminated. Recent Developments Operational Excellence Program On December 5, 2013, we announced a company-wide operational excellence program designed to save between $15 and $18 million during the course of the next three years. The initiative is expected to create greater efficiencies and drive business performance improvements by focusing on several key elements, including product rationalization, lean manufacturing initiatives, supply chain optimization and enterprise resource planning (ERP) implementation. The plan also incorporates the consolidation of our New York plants to establish a single manufacturing center in Glens Falls and a distribution center in Queensbury. During the course of the three-year program, it is expected that we will reduce our New York employee base by approximately 80-100 positions as a result of this plant consolidation and reorganization. New Credit Agreement On September 19, 2013, we entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Keybank National Association as co-syndication agents, and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keybank National Association as joint bookrunners and joint lead arrangers. The Credit Agreement provides for a $100 million senior secured term loan facility (“Term Facility”) and a $100 million senior secured revolving credit facility, which includes up to a $20 million sublimit for letters of credit and a $5 million sublimit for swingline loans (the “Revolving Facility”, and together with the Term Facility, the “Facilities”). The proceeds of the Term Loan and a portion of the proceeds of the Revolving Facility were used to repay our Credit Agreement (the “Existing Credit Agreement”) dated as of May 22, 2012 with the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Keybank National Association as co-syndication agents, and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keybank National Association as joint bookrunners and joint lead arrangers.
The proceeds of the Revolving Facility may be used for general corporate purposes of AngioDynamics and its subsidiaries. The Facilities have a five year maturity. The Term Loan has a quarterly repayment schedule equal to 5%, 5%, 10%, 15% and 65% of its principal amount in years one through five. Interest on both the Term Loan and Revolver will be based on a base rate or Eurodollar rate plus an applicable margin which increases as our total leverage ratio increases, and with the base rate and Eurodollar rate having ranges of 0.50% to 1.25% and 1.50% to 2.25% respectively. After default, the interest rate may be increased by 2.0%. The Revolver will also carry a commitment fee of 0.20% to 0.35% per annum on the unused portion. Our obligations under the Facilities are unconditionally guaranteed, jointly and severally, by our material direct and indirect domestic subsidiaries (the “Guarantors”). All obligations of AngioDynamics and the Guarantors under the Facilities are secured by first priority security interests in substantially all of the assets of AngioDynamics and the Guarantors. On September 19, 2013, we borrowed $100 million under the Term Facility and approximately $41.4 million under the Revolving Facility to repay the Existing Credit Agreement. As of November 30, 2013, $98.8 and $41.4 million were outstanding under the Term Facility and Revolving Facility, respectively. The Credit Agreement includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including, among other things, two financial covenants. The first financial covenant requires us to maintain, as of the end of each of our fiscal quarters, a ratio of (i) consolidated EBITDA minus consolidated capital expenditures to (ii) consolidated interest expense paid or payable in cash plus scheduled principal payments in respect of indebtedness under the Credit Agreement of not less than 1.35 to 1.00. The second financial covenant requires us to maintain, as of the end of each of our fiscal quarters, a ratio of consolidated total indebtedness to consolidated EBITDA of not greater than 3.75 to 1.00. We were in compliance with both covenants as of November 30, 2013. On September 19, 2013, we repaid all amounts owed under the Existing Credit Agreement, and as a result, the Existing Credit Agreement was terminated. Pursuant to the terms of the Existing Credit Agreement, we had the option to repay this facility at any time prior to the maturity date without penalty. Acquisition of Clinical Devices, B.V. On August 15, 2013 we acquired all the outstanding shares of stock of Clinical Devices, B.V., our exclusive distributor of our fluid management products in the Netherlands. The acquisition includes certain in-process research and development for a next-generation tip location technology. See Note B for further information on the acquisition. Regulatory Matters On May 27, 2011, we received a Warning Letter from FDA in connection with its inspection of our Queensbury, NY manufacturing facility. In the Warning Letter, FDA cited deficiencies in the response letter we provided FDA pertaining to the inspection that occurred from January 4 to January 13, 2011. The deficiencies related to our internal procedures for medical device reporting, corrections and removals and complaint handling. We responded to the Warning Letter and completed corrective and preventive actions to address the observations noted. In December 2011, we initiated a comprehensive Quality Call to Action Program to review and augment our Quality Management Systems at our Queensbury facility. To accelerate implementation of the program, we engaged a team of external regulatory and quality experts and reallocated a significant number of engineering and product development resources to support this corporate initiative. From inception of the Quality Call to Action Program through fiscal 2013, we incurred $3.2 million in direct costs associated with the program. On February 10, 2012, we received from FDA a Form 483, List of Investigational Observations, in connection with its inspection of our Queensbury facility from November 14, 2011 to February 10, 2012. The Form 483 contained 12 observations related to, among other things, our CAPA (Corrective and Preventive Action) system, MDR (Medical Device Reporting), complaint investigation, corrections and removals, acceptance criteria and training. Some of the observations contained in the Form 483 were repeat observations from the May 27, 2011 Warning Letter.
On February 13, 2012, we received from FDA a Form 483 in connection with its inspection of our Fremont facility from January 12, 2012 to February 13, 2012. The Form 483 contained six observations related to, among other things, our CAPA system, design controls, risk management and training. We provided responses to FDA within 15 business days of our receipt of the Form 483s. On September 24, 2012, we received from FDA a Form 483 in connection with its subsequent inspection of our Queensbury, NY facility from September 6 to September 14, and September 19 to September 24. This re-inspection followed our response to the original Form 483 issued by FDA on February 13, 2012. The Form 483 contained 5 observations related to 510(k) decisions, complaint investigations, acceptance criteria, corrective and preventive actions and training. All but one of the observations in the Form 483 related to events that occurred before the date that we had indicated to FDA in our previous responses that our corrective and remediation activities related to our Quality Call to Action would be completed. We provided responses to FDA within 15 business days of our receipt of the Form 483. On November 28, 2012, FDA completed an inspection of our Manchester, GA facility and no Form 483 observations were issued. We will continue to work closely with FDA to resolve any outstanding issues. Unless the items raised in the previously disclosed Warning Letters and Form 483s are corrected to FDA’s satisfaction or we come to some other arrangement with FDA finally resolving such matters, we may be subject to additional regulatory or legal action, including the issuance of warning letters, injunction, seizure or recall of products, imposition of fines or penalties or operating restrictions on our facilities. Such actions could significantly disrupt our ongoing business and operations and have a material adverse impact on our financial position and operating results. Acquisition, restructuring and other items, net Navilyst Acquisition Costs The three month and six month periods ended November 30, 2013 included approximately $1.6 million and $2.8 million, respectively, in transaction and severance costs related to the Navilyst acquisition. The three month and six month periods ended November 30, 2012 included approximately $1.7 million and $3.9 million, respectively, in transaction and severance costs related to the Navilyst acquisition of May 22, 2012. These costs are included in “Acquisition, restructuring and other items, net” in the statements of income. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisitions
|
6 Months Ended |
|---|---|
|
Nov. 30, 2013
|
|
| Business Combinations [Abstract] | |
| Acquisitions | NOTE B – ACQUISITIONS Acquisition of Clinical Devices On August 15, 2013 we acquired all the outstanding shares of capital stock of Clinical Devices, B.V., exclusive distributor of our fluid management products in the Netherlands. The stock purchase agreement provided for the payment of $3.7 million in cash at closing, which was subject to a working capital adjustment and $400,000 holdback, plus future earn out consideration payable in cash. Earn out consideration is based on our net sales of the fluid management products during the five quarters following the closing as well as milestone payments for achieving regulatory approvals of certain in process research and development for a next-generation tip location technology. The total estimated purchase consideration of $8.7 million includes the upfront payment and the estimated fair value of contingent consideration of $5.0 million. See Note J for additional information related to the contingent Earn out liability. Goodwill recorded as a result of the acquisition was approximately $4.3 million. Goodwill is not deductible for tax purposes. Intangible assets acquired, other than goodwill, totaled approximately $5.1 million, of which $3.6 million has been identified for in-process research and development (10-year estimated weighted average useful life), $1.4 million as customer relationships (15-year estimated weighted average useful life) and $100,000 as trademarks (5-year estimated weighted average useful life). A deferred tax liability of $1.2 million was also recorded. The acquisition has been accounted for as a purchase and, accordingly, we have included the results of operations in the financial statements effective August 15, 2013. The pro-forma effects of the acquisition on our income statement and balance sheet were not material.
Acquisition of Microsulis Medical Ltd. On March 22, 2012, we established a strategic relationship with Microsulis Medical Ltd. (“Microsulis”), a U.K.-based company specializing in minimally-invasive, microwave ablation technology for the coagulation of soft tissue. On February 1, 2013, we completed the acquisition of certain assets of Microsulis, which we have accounted for as a business combination, for cash payments at closing totaling $10.0 million, which is subject to a working capital adjustment, a $5.0 million payment due on December 31, 2013 and potential additional cash consideration payable upon performance over the next nine years. We also assumed $1.6 million of liabilities. The total estimated purchase consideration of $33.6 million includes the initial investment of $5.0 million, closing payments totaling $10.5 million, a $5.0 million payment due on December 31, 2013 and the estimated fair value of contingent consideration (Earn out) of $13.2 million. The $5.0 million payment was made on December 31, 2013. The estimated fair value of contingent consideration is based on projected net sales over the nine year period following the closing. The amount of the Earn out consideration that could be paid on net sales is not limited. See Note J for additional information related to the contingent Earn out liability. The estimated purchase consideration exceeds the fair value of the acquired net assets by $19.3 million and was recorded as goodwill. Goodwill is deductible for tax purposes. Intangible assets are being amortized over their estimated useful lives of which range from 10 to 15 years. During the three and six month periods ended November 30, 2013, we incurred acquisition related costs of $0 and $60 thousand, respectively, which were expensed to “Acquisition, restructuring and other items, net” in the statement of income. Acquisition of Vortex Medical, Inc. On October 15, 2012, we acquired all the outstanding capital stock of Vortex Medical, Inc., a privately-held company focused on the development and commercialization of medical devices for venous drainage and the removal of thrombus, or blood clots, from occluded blood vessels. Vortex’s principal product is the AngioVac ® system, which includes the AngioVac Cannula and Circuit. The AngioVac Cannula has a proprietary balloon-actuated, expandable, funnel-shaped distal tip that enhances flow, prevents clogging of the cannula and facilitates en bloc, or whole removal of undesirable intravascular material. Both the AngioVac Cannula and Circuit are FDA-cleared for use during extracorporeal bypass for up to 6 hours. CE Mark approval was received in December 2013. The total estimated purchase consideration of $75.3 million included the upfront payment of $15.1 million and the estimated fair value of contingent consideration of $60.3 million, $40 million of which is guaranteed. The estimated fair value of contingent consideration is based on projected AngioVac net sales in the ten year period following the closing. The amount of the Earn out consideration that could be paid on AngioVac net sales is not limited. See Note J for additional information related to the contingent Earn out liability. The purchase consideration exceeded the fair value of the acquired net assets by $29.5 million and was recorded as goodwill. Goodwill is not deductible for tax purposes. Core technologies are being amortized over their estimated useful lives of approximately 15 years as revenues are earned from the sales of the related products. |
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- Definition
The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventories
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Nov. 30, 2013
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| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Inventories | NOTE C – INVENTORIES Inventories are stated at lower of cost (at standard cost which approximates the first-in, first-out method) or market. Inventories consist of the following:
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The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Intangible Assets
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Nov. 30, 2013
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| Goodwill And Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets | NOTE D – GOODWILL AND INTANGIBLE ASSETS Intangible assets other than goodwill and indefinite lived intangible assets are amortized over their estimated useful lives, which range between three and fifteen years, on either a straight-line basis over the expected period of benefit or as revenues are earned from the sales of the related products. We periodically review the estimated useful lives of our intangible assets and review such assets for impairment whenever events or changes in circumstances indicate that the carrying value of the assets may not be recoverable. Our determination of impairment is based on estimates of future cash flows. If an intangible asset is considered to be impaired, the amount of the impairment will equal the excess of the carrying value over the fair value of the asset. Goodwill and intangible assets that have indefinite useful lives are not amortized, but rather, are tested for impairment annually or more frequently if impairment indicators arise. Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in each business combination. Goodwill and intangible assets have been recorded at either incurred or allocated costs. Allocated costs were based on respective fair market values at the date of acquisition. For goodwill, the impairment test requires a comparison of the estimated fair value of the reporting unit to which the goodwill is assigned to the sum of the carrying value of the assets and liabilities of that unit. If the sum of the carrying value of the assets and liabilities of a reporting unit exceeds the fair value of the reporting unit, the carrying value of the reporting unit’s goodwill is reduced to its implied fair value through an adjustment to the goodwill balance, resulting in an impairment charge. Our determination of impairment is based on estimates of future cash flows. We consider our business to be a single operating segment entity – the development, manufacture and sale on a global basis of medical devices for vascular access, surgery, peripheral vascular disease and oncology. To determine fair value, we considered two market-based approaches and an income approach. Under the market-based approaches, we utilized information regarding our own as well as publicly available industry information to determine earnings multiples and sales multiples. Under the income approach, we determined fair value based on estimated future cash flows of the reporting unit, discounted by an estimated weighted-average cost of capital, which reflects the overall level of inherent risk of a reporting unit and the rate of return an outside investor would expect to earn. We determined the discounted cash flow as the best indicator to determine fair value. Determining the fair value of a reporting unit is judgmental in nature and requires the use of significant estimates and assumptions, including revenue growth rates, operating margins, discount rates and future market conditions, among others. These assumptions are highly sensitive and changes in these estimates could result in impairment. Solely for purposes of establishing inputs for the fair value calculations, we assumed that the current economic conditions would continue through fiscal year 2014, followed by a recovery thereafter. In addition, we applied gross margin assumptions consistent with our historical trends at various revenue levels and used an EBITDA exit multiple of 6.0 to calculate the terminal value of the reporting unit. In addition, we used a discount rate of 13.5% to calculate the fair value of our reporting unit. We completed our annual goodwill impairment test as of December 31, 2012. At December 31, 2012, our reporting unit is the same as our reportable segment. Our assessment of goodwill impairment indicated that the fair value of our reporting unit exceeded its carrying value and therefore goodwill was not impaired. The fair value of our reporting unit exceeded its carrying value by 5%. The fair value of the reporting unit was reconciled to our current stock market capitalization plus an estimated control premium of approximately 60% as of December 31, 2012.
Since early November 2008, our stock market capitalization has at times been lower than our shareholders’ equity or book value. However, our reporting unit has continued to generate significant cash flows from operations, and we expect to continue to do so in fiscal 2014 and beyond. Furthermore, we believe that a reasonable potential buyer would offer a control premium for our business that would adequately cover the difference between our stock market capitalization and our book value. We also completed our annual indefinite lived asset (NAMIC trademark) test as of December 31, 2012 using the income approach to determine fair value. Our assessment of the NAMIC trademark indicated that the fair value exceeded the carrying value and therefore the asset was not impaired. Even though we determined that there was no goodwill impairment as of December 31, 2012, the future occurrence of a potential indicator of impairment, such as a significant adverse change in legal factors or business climate, an adverse action or assessment by a regulator, unanticipated competition, a material negative change in relationships with significant customers, strategic decisions made in response to economic or competitive conditions, loss of key personnel or a more-likely-than-not expectation that the reporting unit or a significant portion of the reporting unit will be sold or disposed of, would require an interim assessment for the reporting unit prior to the next required annual assessment as of December 31, 2013. It is not possible at this time to determine if any such future impairment charge would result or, if it does, whether such charge would be material. Events that could, in the future, result in impairment include, but are not limited to, declining sales for a significant product or in a significant geographic region. Adjustments to goodwill for the six months ended November 30, 2013 are as follows (in thousands):
The above change in the carrying value of goodwill is the result of the acquisition of Clinical Devices, B.V. as discussed in Note B.
The balances of intangible assets are as follows:
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- Definition
The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities
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Nov. 30, 2013
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| Accrued Liabilities | NOTE E – ACCRUED LIABILITIES Accrued liabilities consist of the following:
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The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long Term Debt
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6 Months Ended |
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Nov. 30, 2013
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| Debt Disclosure [Abstract] | |
| Long Term Debt | NOTE F – LONG TERM DEBT New Credit Agreement On September 19, 2013, we entered into a Credit Agreement (the “Credit Agreement”) with the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Keybank National Association as co-syndication agents, and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keybank National Association as joint bookrunners and joint lead arrangers. The Credit Agreement provides for a $100 million senior secured term loan facility (“Term Loan”) and a $100 million senior secured revolving credit facility, which includes up to a $20 million sublimit for letters of credit and a $5 million sublimit for swingline loans (the “Revolving Facility”, and together with the TermLoan, the “Facilities”). The proceeds of the Term Loan and a portion of the proceeds of the Revolving Facility were used to repay our Credit Agreement (the “Existing Credit Agreement”) dated as of May 22, 2012 with the lenders party thereto, JPMorgan Chase Bank, N.A., as administrative agent, Bank of America, N.A. and Keybank National Association as co-syndication agents, and J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keybank National Association as joint bookrunners and joint lead arrangers. The proceeds of the Revolving Facility may be used for general corporate purposes of AngioDynamics and its subsidiaries. The Facilities have a five year maturity. The Term Loan has a quarterly repayment schedule equal to 5%, 5%, 10%, 15% and 65% of its principal amount in years one through five. Interest on both the Term Loan and Revolving Facility will be based on a base rate or Eurodollar rate plus an applicable margin which increases as our total leverage ratio increases, and with the base rate and Eurodollar rate having ranges of 0.50% to 1.25% and 1.50% to 2.25% respectively. After default, the interest rate may be increased by 2.0%. The Revolving Facility will also carry a commitment fee of 0.20% to 0.35% per annum on the unused portion. Our obligations under the Facilities are unconditionally guaranteed, jointly and severally, by our material direct and indirect domestic subsidiaries (the “Guarantors”). All obligations of AngioDynamics and the Guarantors under the Facilities are secured by first priority security interests in substantially all of the assets of AngioDynamics and the Guarantors. In June 2012, we entered in an interest rate swap agreement, (the “Swap Agreement”), with an initial notional amount of $100 million, to limit the effect of rising of interest rates. The Swap Agreement, which qualified for hedge accounting under authoritative guidance, was a contract to exchange floating interest rate payments for fixed interest rate payments on the outstanding balance of the loan over the life of the agreement without the exchange of the underlying notional amounts. The Swap Agreement provides for a fixed rate of 0.74% above the applicable rate provided for in the Credit Agreement.
On September 19, 2013, we borrowed $100 million under the Term Facility and approximately $41.4 million under the Revolving Facility to repay the Existing Credit Agreement. As of November 30, 2013, $98.8 million and $41.4 million were outstanding under the Term Facility and Revolving Facility, respectively. The Credit Agreement includes customary representations, warranties and covenants, and acceleration, indemnity and events of default provisions, including, among other things, two financial covenants. The first financial covenant requires us to maintain, as of the end of each of our fiscal quarters, a ratio of (i) consolidated EBITDA minus consolidated capital expenditures to (ii) consolidated interest expense paid or payable in cash plus scheduled principal payments in respect of indebtedness under the Credit Agreement of not less than 1.35 to 1.00. The second financial covenant requires us to maintain, as of the end of each of our fiscal quarters, a ratio of consolidated total indebtedness to consolidated EBITDA of not greater than 3.75 to 1.00. We were in compliance with both covenants as of November 30, 2013. On September 19, 2013, we repaid all amounts owed under the Existing Credit Agreement, and as a result, the Existing Credit Agreement was terminated. Pursuant to the terms of the Existing Credit Agreement, we had the option to repay this facility at any time prior to the maturity date without penalty. |
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The entire disclosure for long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes
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6 Months Ended |
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Nov. 30, 2013
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| Income Tax Disclosure [Abstract] | |
| Income Taxes | NOTE G – INCOME TAXES Our effective tax rate was 15% for the second fiscal quarter of 2014 compared with 37% for the prior year period. The current quarter reflects a seven month benefit from the R&D tax credit that expired on December 31, 2013 and a benefit from lower tax rates in foreign jurisdictions in which we operate, offset by non-deductible interest expense related to contingent payments. Additionally during the second fiscal quarter of 2014, our APIC pool, which has been historically reduced when share-based compensation cost previously recognized by us was greater than the deduction allowed for income tax purposes based on the price of our common stock on the date of exercise or vesting, was fully depleted. This depletion resulted in a discrete tax expense which caused our tax benefit related to the loss for the quarter to be reported as a net tax expense. The prior year quarter was affected by a reduction in the Domestic Production Activities Deduction caused by reduced taxable income, the tax impact of non-deductible costs related to the acquisition of Vortex and a tax benefit related to the use of fully reserved capital loss carryforwards made possible by the gain on sale of our PDT laser product line. Our effective tax rate was a 28% benefit for the first six months of fiscal 2014 compared with 37% expense for the prior year period. The current period reflects a seven month benefit from the R&D tax credit that expired on December 31, 2013 and a benefit from lower tax rates in foreign jurisdictions in which we operate, offset by non-deductible interest expense related to contingent payments. Additionally during the 2014 period, our APIC pool, which has been historically reduced when share-based compensation cost previously recognized by us was greater than the deduction allowed for income tax purposes based on the price of our common stock on the date of exercise or vesting, was fully depleted. The prior period is affected by a reduction in the Domestic Production Activities Deduction caused by reduced taxable income, the tax impact of non-deductible costs related to the acquisition of Vortex and a tax benefit related to the use of fully reserved capital loss carryforwards made possible by the gain on sale of our PDT laser product line. The prior year period reflects a benefit from the R&D tax credit which expired December 31, 2011 and was retroactively reinstated during fiscal year 2013. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Common Share
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Nov. 30, 2013
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| Earnings Per Common Share | NOTE H – EARNINGS PER COMMON SHARE Basic earnings per share are based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share further includes the dilutive effect of potential common stock consisting of stock options and restricted stock units, provided that the inclusion of such securities is not antidilutive. Due to a reported net loss for both the second fiscal quarter of 2014 and fiscal year to date 2014 , our basic and diluted earnings per share calculations are identical for those periods. The following table sets forth the reconciliation of the weighted-average number of common shares (in thousands):
Excluded from the calculation of diluted earnings per common share were options and restricted stock awards issued to employees and non-employees to purchase 2.3 million and 2.7 million shares of common stock for the three months and six months ended November 30, 2013, as their inclusion would be antidilutive. For the three and six month period ended November 30, 2012, options and restricted stock awards issued to employees and non-employees to purchase 3.2 million and 3.0 million shares of common stock were also excluded as their inclusion would have been antidilutive. |
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment and Geographic Information
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Nov. 30, 2013
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment and Geographic Information | NOTE I – SEGMENT AND GEOGRAPHIC INFORMATION We consider our business to be a single operating segment entity – the development, manufacture and sale on a global basis of medical devices for vascular access, surgery, peripheral vascular disease and oncology. Our chief operating decision maker (CEO) evaluates the various global product portfolios on a net sales basis. Executives reporting to the CEO include those responsible for operations and supply chain management, research and development, sales, franchise marketing and certain corporate functions. The CEO evaluates profitability, investment and cash flow metrics on a consolidated worldwide basis due to shared infrastructure and resources. Net sales by product category are summarized below (in thousands):
Net sales for geographic areas, based on external customer location, are summarized below (in thousands):
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- Definition
The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value
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Nov. 30, 2013
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value | NOTE J – FAIR VALUE Our financial instruments include cash and cash equivalents, accounts receivable, marketable securities, accounts payable, interest rate swap agreement and contingent earn outs related to the acquisitions of Vortex, Microsulis and Clinical Devices. The carrying amount of cash and cash equivalents, accounts receivable, marketable securities and accounts payable approximates fair value due to the immediate or short-term maturities. The interest rate swap agreement has been recorded at its fair value based on a valuation received from an independent third party. Marketable securities, with the exception of auction rate securities, are carried at their fair value as determined by quoted market prices. The contingent earn out has been recorded at fair value using the income approach.
Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. This policy establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The policy describes three levels of inputs that may be used to measure fair value which are provided in the table below.
The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis (in thousands):
There were no significant transfers in and out of Level 1, 2 and 3 measurements for the three months ended November 30, 2013. The components of Level 3 fair value instruments as of November 30, 2013 are shown below (in thousands):
Contingent Liability for Acquisition Earn Outs Certain of our business combinations involve the potential for the payment of future contingent consideration upon the achievement of certain product development milestones and/or various other favorable operating conditions. Payment of the additional consideration is generally contingent on the acquired company reaching certain performance milestones, including attaining specified revenue levels or achieving product development targets. Contingent consideration is recorded at the estimated fair value of the contingent milestone payments on the acquisition date. The fair value of the contingent milestone consideration is remeasured at the estimated fair value at each reporting period with the change in fair value recognized as income or expense within acquisition-related items in the condensed consolidated statements of earnings. We measure the initial liability and remeasure the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements. Contingent consideration liabilities will be remeasured to fair value each reporting period using projected net sales, discount rates, probabilities of payment and projected payment dates. Projected contingent payment amounts are discounted back to the current period using a discounted cash flow model. Projected net sales are based on our internal projections and extensive analysis of the target market and the sales potential. Increases in projected net sales and probabilities of payment may result in higher fair value measurements in the future. Increases in discount rates and the projected time to payment may result in lower fair value measurements in the future. Increases or decreases in any valuation inputs in isolation may result in a significantly lower or higher fair value measurement in the future.
The recurring Level 3 fair value measurements of the contingent consideration liability related to the Vortex, Microsulis and Clinical Devices acquisitions include the following significant unobservable inputs ($ in millions):
At November 30, 2013, the estimated potential amount of undiscounted future contingent consideration that we expect to pay as a result of all completed acquisitions is approximately $91.7 million. The milestones associated with the contingent consideration must be reached in future periods ranging from fiscal years 2014 to 2022 in order for the consideration to be paid. The fair value of contingent milestone payments associated with the acquisitions was remeasured as of November 30, 2013 and $60.2 million was reflected in “Contingent consideration, net of current portion” and $12.2 million was reflected in “Current portion of contingent consideration” on the condensed consolidated balance sheet. The following table provides a reconciliation of the beginning and ending balances of contingent milestone payments associated with the Vortex, Microsulis and Clinical Devices acquisitions measured at fair value that used significant unobservable inputs (Level 3) (in thousands):
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The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Marketable Securities
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| Investments Debt And Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Marketable Securities | NOTE K – MARKETABLE SECURITIES Marketable securities, which are principally government agency bonds, auction rate investments and corporate commercial paper, are classified as “available-for-sale securities” in accordance with authoritative guidance issued by FASB and are reported at fair value, with unrealized gains and losses excluded from operations and reported as accumulated other comprehensive income (loss), net of the related tax effects, in stockholders’ equity. Cost is determined using the specific identification method. We hold investments in auction rate securities in order to generate higher than typical money market rate investment returns. Auction rate securities typically are high credit quality, generally achieved with municipal bond insurance. Credit risks are eased by the historical track record of bond insurers, which back a majority of this market. Sell orders for any security traded through an auction process could exceed bids and, in such cases, the auction fails and we may be unable to liquidate our position in the securities in the near term. As of November 30, 2013 and May 31, 2013, we had $1.85 million in investments in two auction rate securities issued by New York state and local government authorities that failed auctions. The authorities are current in their interest payments on the securities.
Marketable securities as of November 30, 2013 consisted of the following:
Marketable securities as of May 31, 2013 consisted of the following:
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The entire disclosure for investments in certain debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| Commitments And Contingencies Disclosure [Abstract] | |
| Litigation | NOTE L – LITIGATION AngioDynamics v. biolitec On January 2, 2008, we commenced an action in the United States District Court for the Northern District of New York entitled AngioDynamics, Inc. v. biolitec, Inc. In this action, we sought judgment against biolitec for defense and indemnification in two lawsuits which we previously settled. Our claims arise out of a Supply and Distribution Agreement (“SDA”) entered into with biolitec on April 1, 2002. On September 27, 2011, the U.S. District Court granted key portions of our motion for summary judgment in our legal case against biolitec. The Court also dismissed biolitec’s counterclaims against us. The court denied one portion of our summary judgment motion, which sought to recover additional costs from biolitec, leaving this for adjudication at trial. On November 8, 2012, the Court granted partial judgment to us in the amount of $23.2 million. Biolitec appealed this judgment. On August 23, 2013, the U.S. Court of Appeals for the Second Circuit dismissed biolitec’s appeal. In October 2009, we commenced an action in the United States District Court for the District of Massachusetts entitled AngioDynamics, Inc. v. biolitec AG and Wolfgang Neuberger. The Complaint in this action was amended in March 2010. This action seeks to recover against biolitec, Inc.’s parent entities and CEO for tortiously interfering with biolitec, Inc.’s contractual obligation to defend and indemnify us, and also seeks to pierce the corporate veil of biolitec, Inc. and to invalidate certain alleged fraudulent transfers in order to hold biolitec, Inc.’s parent entities jointly and severally liable for the alleged breach of the SDA. On September 13, 2012, the Massachusetts Court granted our request for a preliminary injunction prohibiting the downstream merger of biolitec AG with its Austrian subsidiary. On April 1, 2013, the U.S. Court of Appeals for the First Circuit affirmed the preliminary injunction. As of November 29, 2013, cross-motions for summary judgment were pending before the District Court. In August 29, 2013, we became co-plaintiffs in an adversary proceeding in the United States Bankruptcy Court for the District of New Jersey entitled Cyganowski, Trustee, et al. v. Biolitec U.S., Inc., et al. In this action, we assert claims of conversion, unjust enrichment, tortious interference, and unfair competition against various biolitec entities for alleged violation of Bankruptcy Court settlement and sale orders under which we acquired certain assets of Biolitec, Inc. On September 3, 2013, we, along with our co-plaintiff, obtained a temporary restraining order against the defendants in this action. C.R. Bard, Inc. v. AngioDynamics, Inc. On January 11, 2012, C.R. Bard, Inc. filed a suit in the United States District Court of Utah claiming certain of our implantable port products infringe on patents held by Bard. Bard is seeking unspecified damages and other relief. The Court denied Bard’s motion for pre-trial consolidation with separate actions it filed on the same day against Medical Components, Inc. and Smiths Medical ASD, Inc., but has asked for supplemental briefing on the issue of whether to conduct a common Markman hearing. We filed petitions for reexamination in the US Patent and Trademark Office which seek to invalidate all three patents asserted in the litigation. Our petitions have been granted and 40 of 41 patent claims have been and remain rejected. The Patent Office has issued a Final Rejection of all the claims subject to reexamination and Bard has filed notices of appeal. The case has been stayed pending final resolution of the PTO process. We believe these claims are without merit and intend to defend them vigorously. We have not recorded an expense related to the outcome of this litigation because it is not yet possible to determine if a potential loss is probable nor reasonably estimable. Cardinal Health v. Navilyst Medical, Inc. On December 21, 2011, Cardinal Health Canada 204, Inc. (“Cardinal Health”) filed a demand for arbitration pursuant to the terms of the International Distributorship Agreement entered into as of November 1, 2008 between Navilyst and Cardinal Health. Cardinal Health claims that it is entitled to damages based on Navilyst’s decision to terminate the International Distributorship Agreement. On September 27, 2013, the parties agreed to a Stipulation of Dismissal With Prejudice, and the case is now terminated.
Joseph Pierre v. AngioDynamics, Inc. In July 2011, a former employee dual-filed a complaint with the New York State Division of Human Rights and the Equal Employment Opportunity Commission, entitled Joseph Pierre v. AngioDynamics, Inc. In this action, the former employee is alleging discrimination due to his status as an African-American, in light of him being reassigned to another project. At the conclusion of its investigation, the Division issued a finding of “no probable cause” on January 6, 2012 and dismissed the complaint. The complainant did not appeal the decision to preserve his New York Human Rights Law claims. On February 22, 2012, the Equal Employment Opportunity Commission issued its determination adopting the decision of the Division and dismissing the charge. The complainant filed a federal claim following the EEOC’s decision in the United States District Court for the Northern District of New York on May 21, 2012. This complaint makes the same allegations of discrimination, and alleges causes of action under Title VII of the Civil Rights Act and 42 U.S.C. 1981. We believe these claims are without merit but have reached a settlement agreement and filed a stipulation of discontinuance with the court. The settlement will have no impact on our financial condition or results of operations. We are party to other legal actions that arise in the ordinary course of business. We believe that any liability resulting from any currently pending litigation will not, individually or in the aggregate, have a material adverse effect on our business, financial condition, results of operations, or cash flows. |
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The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. No definition available.
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Recently Issued Accounting Pronouncements
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6 Months Ended |
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Nov. 30, 2013
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| Accounting Changes And Error Corrections [Abstract] | |
| Recently Issued Accounting Pronouncements | NOTE M – RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS In July 2012, the FASB updated the accounting guidance related to testing indefinite-lived intangible assets for impairment. This update permits an entity to first make a qualitative assessment of whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. An entity is not required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative impairment test unless the entity determines that it is more likely than not that the asset is impaired. The more-likely-than—not threshold is defined as having a likelihood of more than 50%. This update is effective for annual and interim impairment tests performed in fiscal years beginning after September 15, 2012 (our fiscal year 2014) however early adoption is permitted, provided that the entity has not yet performed its annual impairment test or issued its financial statements. The adoption did not have a material impact on our financial statements. In December 2011 and January 2013, the FASB issued new accounting guidance related to disclosures on offsetting assets and liabilities on the balance sheet. The newly issued accounting standard requires an entity to disclose both gross and net information about instruments and transactions executed under a master netting, or similar, arrangement and was issued to enable users of financial statements to understand the effects or potential effects of those arrangements on its financial position. This guidance is required to be applied retrospectively and is effective for fiscal years beginning on or after January 1, 2013 (our fiscal year 2014). Since the guidance only impacts disclosure requirements, its adoption did not have a material impact on our consolidated financial statements. In February 2013, the FASB expanded the disclosure requirements related to changes in accumulated other comprehensive income (AOCI). The new guidance requires disclosure of the amount of income (or loss) reclassified out of AOCI to each respective line item on the statement of income where net income is presented. The guidance allows disclosure of the reclassification either in the notes to the financial statements or parenthetically on the face of the financial statements. This requirement is effective for reporting periods beginning after December 15, 2012 (fourth quarter of our fiscal year 2013). Since the guidance only impacts disclosure requirements, its adoption did not have a material impact on our consolidated financial statements. In July 2013, the FASB issued guidance related to the presentation of certain tax information. This new pronouncement provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, or similar tax loss, or a tax credit carryforward exists. This pronouncement is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2013 (our fiscal year 2015). Since the guidance only impacts presentation requirements, its adoption will not have a material impact on our consolidated financial statements. |
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The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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6 Months Ended |
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Nov. 30, 2013
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| Subsequent Events [Abstract] | |
| Subsequent Events | NOTE N – SUBSEQUENT EVENTS Operational Excellence Program On December 5, 2013, we announced a company-wide operational excellence program designed to save between $15 and $18 million during the course of the next three years. The initiative is expected to create greater efficiencies and drive business performance improvements by focusing on several key elements, including product rationalization, lean manufacturing initiatives, supply chain optimization and enterprise resource planning (ERP) implementation. The plan also incorporates the consolidation of our New York plants to establish a single manufacturing center in Glens Falls and a distribution center in Queensbury. During the course of the three-year program, it is expected that we will reduce our New York employee base by approximately 80-100 positions as a result of this plant consolidation and reorganization. |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Recently Issued Accounting Pronouncements (Policies)
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6 Months Ended |
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Nov. 30, 2013
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| Accounting Changes And Error Corrections [Abstract] | |
| Indefinite-Lived Intangible Assets Impairment | In July 2012, the FASB updated the accounting guidance related to testing indefinite-lived intangible assets for impairment. This update permits an entity to first make a qualitative assessment of whether it is more likely than not that an indefinite-lived intangible asset is impaired as a basis for determining whether it is necessary to perform the quantitative impairment test. An entity is not required to calculate the fair value of an indefinite-lived intangible asset and perform the quantitative impairment test unless the entity determines that it is more likely than not that the asset is impaired. The more-likely-than—not threshold is defined as having a likelihood of more than 50%. This update is effective for annual and interim impairment tests performed in fiscal years beginning after September 15, 2012 (our fiscal year 2014) however early adoption is permitted, provided that the entity has not yet performed its annual impairment test or issued its financial statements. The adoption did not have a material impact on our financial statements. |
| Offsetting Assets and Liabilities | In December 2011 and January 2013, the FASB issued new accounting guidance related to disclosures on offsetting assets and liabilities on the balance sheet. The newly issued accounting standard requires an entity to disclose both gross and net information about instruments and transactions executed under a master netting, or similar, arrangement and was issued to enable users of financial statements to understand the effects or potential effects of those arrangements on its financial position. This guidance is required to be applied retrospectively and is effective for fiscal years beginning on or after January 1, 2013 (our fiscal year 2014). Since the guidance only impacts disclosure requirements, its adoption did not have a material impact on our consolidated financial statements. |
| Changes in Accumulated Other Comprehensive Income | In February 2013, the FASB expanded the disclosure requirements related to changes in accumulated other comprehensive income (AOCI). The new guidance requires disclosure of the amount of income (or loss) reclassified out of AOCI to each respective line item on the statement of income where net income is presented. The guidance allows disclosure of the reclassification either in the notes to the financial statements or parenthetically on the face of the financial statements. This requirement is effective for reporting periods beginning after December 15, 2012 (fourth quarter of our fiscal year 2013). Since the guidance only impacts disclosure requirements, its adoption did not have a material impact on our consolidated financial statements. |
| Income Taxes | In July 2013, the FASB issued guidance related to the presentation of certain tax information. This new pronouncement provides explicit guidance on the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, or similar tax loss, or a tax credit carryforward exists. This pronouncement is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2013 (our fiscal year 2015). Since the guidance only impacts presentation requirements, its adoption will not have a material impact on our consolidated financial statements. |
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Adopted Accumulated Comprehensive Income Loss [Policy Text Block] No definition available.
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Income Taxes Policy Text Block No definition available.
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Disclosure of accounting policy for offsetting or not offsetting fair value amounts recognized for derivative instruments against such amounts recognized for the right to reclaim cash collateral (a receivable) or the obligation to return cash collateral (a payable) arising from derivative instruments recognized at fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for indefinite-lived intangible assets (that is, those intangible assets not subject to amortization). This accounting policy also may address how the entity assesses whether events and circumstances continue to support an indefinite useful life and how the entity assesses and measures impairment of such assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventories (Tables)
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Nov. 30, 2013
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| Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Inventories | Inventories are stated at lower of cost (at standard cost which approximates the first-in, first-out method) or market. Inventories consist of the following:
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Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Intangible Assets (Tables)
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Nov. 30, 2013
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| Goodwill And Intangible Assets Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill by Segment | Adjustments to goodwill for the six months ended November 30, 2013 are as follows (in thousands):
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| Intangible Assets | The balances of intangible assets are as follows:
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Schedule of intangible assets. No definition available.
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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities (Tables)
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Nov. 30, 2013
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| Payables And Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Liabilities | Accrued liabilities consist of the following:
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Tabular disclosure of the components of accrued liabilities. No definition available.
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Earnings Per Common Share (Tables)
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Nov. 30, 2013
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of Weighted-Average Number of Common Shares | The following table sets forth the reconciliation of the weighted-average number of common shares (in thousands):
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Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Segment and Geographic Information (Tables)
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Nov. 30, 2013
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| Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Net Sales by Product Category | Net sales by product category are summarized below (in thousands):
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| Summary of Net Sales for Geographic Areas | Net sales for geographic areas, based on external customer location, are summarized below (in thousands):
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Schedule of net revenue by product group. No definition available.
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Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Fair Value (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Nov. 30, 2013
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| Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Assets and Liabilities Measured on a Recurring Basis | The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis (in thousands):
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| Fair Value Measurements Using Significant Unobservable Inputs | The components of Level 3 fair value instruments as of November 30, 2013 are shown below (in thousands):
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| Summary Showing the Recurring Fair Value Measurements of the Contingent Consideration Liability | The recurring Level 3 fair value measurements of the contingent consideration liability related to the Vortex, Microsulis and Clinical Devices acquisitions include the following significant unobservable inputs ($ in millions):
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| Summary Showing Reconciliation of the Contingent Payments | The following table provides a reconciliation of the beginning and ending balances of contingent milestone payments associated with the Vortex, Microsulis and Clinical Devices acquisitions measured at fair value that used significant unobservable inputs (Level 3) (in thousands):
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| X | ||||||||||
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- Definition
Schedule of fair value liabilities measured on recurring basis unobservable input reconciliation. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Marketable Securities (Tables)
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Nov. 30, 2013
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| Investments Debt And Equity Securities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Marketable Securities | Marketable securities as of November 30, 2013 consisted of the following:
Marketable securities as of May 31, 2013 consisted of the following:
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. No definition available.
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Consolidated Financial Statements - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 6 Months Ended | 3 Months Ended | 6 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||
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Nov. 28, 2012
Observations
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Sep. 24, 2012
Observations
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Feb. 13, 2012
Observations
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Feb. 10, 2012
Observations
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Nov. 30, 2013
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Nov. 30, 2013
Clinical Devices B.V [Member]
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Nov. 30, 2013
Navilyst [Member]
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Nov. 30, 2012
Navilyst [Member]
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Nov. 30, 2013
Navilyst [Member]
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Nov. 30, 2012
Navilyst [Member]
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Dec. 05, 2013
Subsequent Event [Member]
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Dec. 05, 2013
Subsequent Event [Member]
Minimum [Member]
Employees
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Dec. 05, 2013
Subsequent Event [Member]
Maximum [Member]
Employees
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Sep. 19, 2013
New Credit Agreement [Member]
Agreement
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Sep. 19, 2013
New Credit Agreement [Member]
Minimum [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Maximum [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Term Loan Facility [Member]
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Nov. 30, 2013
New Credit Agreement [Member]
Term Loan Facility [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Senior Secured Revolving Credit Facility [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Senior Secured Revolving Credit Facility [Member]
Minimum [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Senior Secured Revolving Credit Facility [Member]
Maximum [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Letters of Credit [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Swingline Loans [Member]
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Nov. 30, 2013
New Credit Agreement [Member]
Revolving Credit Facility [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Revolving Credit Facility [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Base Rate [Member]
JP Morgan Chase [Member]
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Sep. 19, 2013
New Credit Agreement [Member]
Eurodollar [Member]
JP Morgan Chase [Member]
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| Recent Developments [Line Items] | |||||||||||||||||||||||||||
| Expected savings due to operational excellence program over three years | $ 15 | $ 18 | |||||||||||||||||||||||||
| Operational excellence program period | 3 years | ||||||||||||||||||||||||||
| Number of employees to be reduced | 80 | 100 | |||||||||||||||||||||||||
| Senior secured term loan facility | 100.0 | 100.0 | 20.0 | 5.0 | |||||||||||||||||||||||
| Percentage of quarterly repayment of term facility year one | 5.00% | ||||||||||||||||||||||||||
| Percentage of quarterly repayment of term facility year two | 5.00% | ||||||||||||||||||||||||||
| Percentage of quarterly repayment of term facility year three | 10.00% | ||||||||||||||||||||||||||
| Percentage of quarterly repayment of term facility year four | 15.00% | ||||||||||||||||||||||||||
| Percentage of quarterly repayment of term facility year five | 65.00% | ||||||||||||||||||||||||||
| Bank credit agreement maturity period | In years one through five | ||||||||||||||||||||||||||
| Percentage of increases leverage ratio base rate, minimum | 0.50% | 1.50% | |||||||||||||||||||||||||
| Percentage of increases leverage ratio base rate, maximum | 1.25% | 2.25% | |||||||||||||||||||||||||
| Percentage of increase in interest | 2.00% | ||||||||||||||||||||||||||
| Commitment fee percentage | 0.20% | 0.35% | |||||||||||||||||||||||||
| Initial amount borrowed under revolving facility | 41.4 | ||||||||||||||||||||||||||
| Number of financial covenants | 2 | ||||||||||||||||||||||||||
| Credit facility, amount outstanding | 98.8 | 41.4 | |||||||||||||||||||||||||
| Covenant ratio range | Not less than 1.35 to 1.00 | Not greater than 3.75 to 1.00 | |||||||||||||||||||||||||
| Date of business acquisition | Aug. 15, 2013 | ||||||||||||||||||||||||||
| Costs for Quality Call to Action Program | 3.2 | ||||||||||||||||||||||||||
| Number of observations | 0 | 5 | 6 | 12 | |||||||||||||||||||||||
| Number of business days to provide response to FDA | 15 days | ||||||||||||||||||||||||||
| Transaction and severance costs related to acquisition | $ 1.6 | $ 1.7 | $ 2.8 | $ 3.9 | |||||||||||||||||||||||
| X | ||||||||||
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- Definition
Business Development Program Period No definition available.
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| X | ||||||||||
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- Definition
Costs for quality call to action program. No definition available.
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| X | ||||||||||
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- Definition
Debt Instrument Financial Covenant Ratio Range No definition available.
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| X | ||||||||||
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- Definition
Debt instrument increase in interest rate in case of default. No definition available.
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| X | ||||||||||
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- Definition
Number of business days to provide response. No definition available.
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| X | ||||||||||
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- Definition
Number Of Financial Covenants No definition available.
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| X | ||||||||||
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- Definition
Number of observations. No definition available.
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| X | ||||||||||
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- Definition
Operational Excellence Program Expected Savings No definition available.
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| X | ||||||||||
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- Definition
Percentage of quarterly repayment of term facility year five. No definition available.
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| X | ||||||||||
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- Definition
Percentage of quarterly repayment of term facility year four. No definition available.
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| X | ||||||||||
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- Definition
Percentage of quarterly repayment of term facility year one. No definition available.
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| X | ||||||||||
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- Definition
Percentage of quarterly repayment of term facility year three. No definition available.
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| X | ||||||||||
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- Definition
Percentage of quarterly repayment of term facility year two. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Reduction in New York workforce headcount related to OPEX program. No definition available.
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| X | ||||||||||
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- Definition
Initial amount borrowed under Revolving facility. No definition available.
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| X | ||||||||||
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- Definition
Total initial borrowing capacity under secured long term debt facilities. No definition available.
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| X | ||||||||||
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- Definition
Transaction and Severance costs related to Acquisition. No definition available.
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| X | ||||||||||
|
- Definition
Date when the acquirer obtains control of the acquiree, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. No definition available.
|
| X | ||||||||||
|
- Definition
Disclosure of timing of required repayments, sinking fund requirements, and other redeemable securities at fixed or determinable prices and dates in the five years immediately following the date of the latest balance sheet presented in the financial statements, and the amount thereafter to fully repay the principal of long-term debt. These disclosures may be made either on an individual debt or security basis, by type of debt or security basis, or on a combined basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions - Additional Information (Detail) (USD $)
|
6 Months Ended | 3 Months Ended | 6 Months Ended | 6 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 12 Months Ended | 1 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Nov. 30, 2013
|
May 31, 2013
|
Nov. 30, 2013
Minimum [Member]
|
Nov. 30, 2013
Maximum [Member]
|
Aug. 15, 2013
Clinical Devices B.V [Member]
|
Nov. 30, 2013
Microsulis Medical Ltd. [Member]
|
Nov. 30, 2013
Microsulis Medical Ltd. [Member]
|
Feb. 01, 2013
Microsulis Medical Ltd. [Member]
|
Nov. 30, 2013
Microsulis Medical Ltd. [Member]
Minimum [Member]
|
Nov. 30, 2013
Microsulis Medical Ltd. [Member]
Maximum [Member]
|
Dec. 31, 2013
Microsulis Medical Ltd. [Member]
Subsequent Event [Member]
|
Nov. 30, 2013
Vortex Medical, Inc. [Member]
|
Aug. 15, 2013
In-Process Research and Development [Member]
Clinical Devices B.V [Member]
|
Nov. 30, 2013
Customer Relationships [Member]
|
May 31, 2013
Customer Relationships [Member]
|
Aug. 15, 2013
Customer Relationships [Member]
Clinical Devices B.V [Member]
|
Nov. 30, 2013
Trademarks [Member]
|
May 31, 2013
Trademarks [Member]
|
Aug. 15, 2013
Trademarks [Member]
Clinical Devices B.V [Member]
|
|
| Business Acquisition [Line Items] | |||||||||||||||||||
| Cash payments at closing total | $ 3,700,000 | $ 10,500,000 | $ 10,500,000 | $ 10,000,000 | $ 15,100,000 | ||||||||||||||
| Business acquisition purchase price holdback amount | 400,000 | ||||||||||||||||||
| Total purchase | 8,700,000 | 33,600,000 | 33,600,000 | 5,000,000 | 75,300,000 | ||||||||||||||
| Present value of contingent consideration liability | 5,000,000 | 13,200,000 | 13,200,000 | 60,300,000 | |||||||||||||||
| Goodwill acquired | 359,736,000 | 355,458,000 | 4,300,000 | 19,300,000 | 19,300,000 | 29,500,000 | |||||||||||||
| Intangible assets other than goodwill | 5,100,000 | ||||||||||||||||||
| Acquired finite lived intangible assets | 3,600,000 | 1,400,000 | 100,000 | ||||||||||||||||
| Weighted average useful life | 10 years | 15 years | 10 years | 15 years | 5 years | ||||||||||||||
| Deferred tax liabilities | 1,200,000 | ||||||||||||||||||
| Business acquisition cost of acquired entity purchase price payable | 5,000,000 | 5,000,000 | 5,000,000 | ||||||||||||||||
| Liabilities assumed | 1,600,000 | ||||||||||||||||||
| Additional cash consideration payable period | 9 years | ||||||||||||||||||
| Investment in company | 5,000,000 | 5,000,000 | |||||||||||||||||
| Acquisition related costs | 0 | 60,000 | |||||||||||||||||
| Fair value of guaranteed contingent consideration | $ 40,000,000 | ||||||||||||||||||
| Weighted average useful life | 3 years | 15 years | 15 years | 11 years 10 months 24 days | 14 years 9 months 18 days | 8 years | 9 years 10 months 24 days | ||||||||||||
| X | ||||||||||
|
- Definition
Business acquisition contingent consideration period. No definition available.
|
| X | ||||||||||
|
- Definition
Business acquisition cost of acquired entity purchase price payable. No definition available.
|
| X | ||||||||||
|
- Definition
Business acquisition guaranteed contingent consideration at fair value. No definition available.
|
| X | ||||||||||
|
- Definition
The remaining cash due at period end related to a business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
Business Combination Recognized Identifiable Assets Acquired And Liabilities Entity Cash Paid No definition available.
|
| X | ||||||||||
|
- Definition
Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents acquisition-related costs incurred to effect a business combination which costs have been expensed during the period. Such costs include finder's fees; advisory, legal, accounting, valuation, and other professional or consulting fees; general administrative costs, including the costs of maintaining an internal acquisitions department; and may include costs of registering and issuing debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The amount of liability arising from an inherited contingency (as defined) which has been recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of deferred tax liability attributable to taxable temporary differences due after one year or the normal operating cycle, if longer, assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of intangible assets, excluding goodwill, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of liabilities assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
This item represents the carrying amount on the entity's balance sheet of its investment in common stock of an equity method investee. This is not an indicator of the fair value of the investment, rather it is the initial cost adjusted for the entity's share of earnings and losses of the investee, adjusted for any distributions (dividends) and other than temporary impairment (OTTI) losses recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in assets, excluding financial assets, lacking physical substance with a definite life, resulting from a business combination. No definition available.
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Inventories - Schedule of Inventories (Detail) (USD $)
In Thousands, unless otherwise specified |
Nov. 30, 2013
|
May 31, 2013
|
|---|---|---|
| Inventory Disclosure [Abstract] | ||
| Raw materials | $ 24,287 | $ 18,362 |
| Work in process | 11,557 | 11,006 |
| Finished goods | 24,208 | 25,694 |
| Inventories | $ 60,052 | $ 55,062 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before valuation and LIFO reserves of raw materials expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before valuation and LIFO reserves of merchandise or goods in the production process expected to be completed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Goodwill and Intangible Assets - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 6 Months Ended |
|---|---|---|
|
Dec. 31, 2012
|
Nov. 30, 2013
Segment
Reporting_Unit
|
|
| Finite-Lived Intangible Assets [Line Items] | ||
| Number of reportable unit | 1 | |
| Number of operating segment | 1 | |
| Terminal value of the reporting unit | 6.0 | |
| Discount rate used in fair value calculation | 13.50% | |
| Percentage of fair value, carrying value | 5.00% | |
| Estimated control premium used in fair value calculation | 60.00% | |
| Goodwill impairment | $ 0 | |
|
Maximum [Member]
|
||
| Finite-Lived Intangible Assets [Line Items] | ||
| Estimated useful life of intangible assets other than goodwill | 15 years | |
|
Minimum [Member]
|
||
| Finite-Lived Intangible Assets [Line Items] | ||
| Estimated useful life of intangible assets other than goodwill | 3 years |
| X | ||||||||||
|
- Definition
EBITDA exit multiple. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of estimated control premium. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of fair value exceeding its carrying value. No definition available.
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements. No definition available.
|
|
Goodwill and Intangible Assets - Goodwill by Segment (Detail) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |||
|---|---|---|---|---|
|
Nov. 30, 2013
|
May 31, 2013
|
Nov. 30, 2013
Clinical Devices B.V [Member]
|
Aug. 15, 2013
Clinical Devices B.V [Member]
|
|
| Goodwill [Line Items] | ||||
| Goodwill, Beginning Balance | $ 359,736 | $ 355,458 | $ 4,300 | |
| Acquisition | 4,278 | |||
| Goodwill, Ending Balance | $ 359,736 | $ 355,458 | $ 4,300 |
| X | ||||||||||
|
- Definition
Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Indefinite Lived Intangible Assets Accumulated Amortization No definition available.
|
| X | ||||||||||
|
- Definition
Indefinite lived intangible assets excluding goodwill net. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount after amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount before accumulated amortization of intangible assets, excluding goodwill. No definition available.
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Accrued Liabilities - Summary of Accrued Liabilities (Detail) (USD $)
In Thousands, unless otherwise specified |
Nov. 30, 2013
|
May 31, 2013
|
|---|---|---|
| Other Liabilities Disclosure [Abstract] | ||
| Payroll and related expenses | $ 6,217 | $ 6,491 |
| Royalties | 2,084 | 2,034 |
| Income taxes payable | 741 | |
| Deferred revenue | 1,616 | 1,573 |
| Accrued severance | 1,200 | 1,602 |
| Sales and franchise taxes | 1,329 | 1,047 |
| Interest rate swap liability | 725 | 523 |
| Other | 3,618 | 3,156 |
| Total | $ 17,530 | $ 16,426 |
| X | ||||||||||
|
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable for royalties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred through that date and payable arising from transactions not otherwise specified in the taxonomy. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of known and estimated obligations associated with exit from or disposal of business activities or restructurings pursuant to a duly authorized plan, which are expected to be paid in the next twelve months or in the normal operating cycle if longer. Costs of such activities include those for one-time termination benefits, termination of an operating lease or other contract, consolidating or closing facilities, relocating employees, and costs associated with an ongoing benefit arrangement, but excludes costs associated with the retirement of a long-lived asset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of liabilities incurred through that date and payable for statutory sales and use taxes, including value added tax. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Debt Instrument Financial Covenant Ratio Range No definition available.
|
| X | ||||||||||
|
- Definition
Debt instrument increase in interest rate in case of default. No definition available.
|
| X | ||||||||||
|
- Definition
Number Of Financial Covenants No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of quarterly repayment of term facility year five. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of quarterly repayment of term facility year four. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of quarterly repayment of term facility year one. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of quarterly repayment of term facility year three. No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of quarterly repayment of term facility year two. No definition available.
|
| X | ||||||||||
|
- Definition
Initial amount borrowed under Revolving facility. No definition available.
|
| X | ||||||||||
|
- Definition
Total initial borrowing capacity under secured long term debt facilities. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Minimum contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fixed interest rate related to the interest rate derivative. No definition available.
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for the line of credit facility regardless of whether the facility has been used. No definition available.
|
| X | ||||||||||
|
- Definition
Disclosure of timing of required repayments, sinking fund requirements, and other redeemable securities at fixed or determinable prices and dates in the five years immediately following the date of the latest balance sheet presented in the financial statements, and the amount thereafter to fully repay the principal of long-term debt. These disclosures may be made either on an individual debt or security basis, by type of debt or security basis, or on a combined basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Income Taxes - Additional Information (Detail)
|
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Nov. 30, 2013
|
Nov. 30, 2012
|
Nov. 30, 2013
|
Nov. 30, 2012
|
|
| Income Tax Disclosure [Abstract] | ||||
| Effective income tax rate | 15.00% | 37.00% | (28.00%) | 37.00% |
| R&D tax credit expired date | Dec. 31, 2013 | |||
| X | ||||||||||
|
- Definition
Tax Credit Expiration Date No definition available.
|
| X | ||||||||||
|
- Definition
Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Earnings Per Common Share - Reconciliation of Weighted-Average Number of Common Shares (Detail)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Nov. 30, 2013
|
Nov. 30, 2012
|
Nov. 30, 2013
|
Nov. 30, 2012
|
|
| Earnings Per Share [Abstract] | ||||
| Basic | 35,132 | 34,827 | 35,041 | 34,765 |
| Effect of dilutive securities | 0 | 484 | 0 | 514 |
| Diluted | 35,132 | 35,311 | 35,041 | 35,279 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Earnings Per Common Share - Additional Information (Detail)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Nov. 30, 2013
|
Nov. 30, 2012
|
Nov. 30, 2013
|
Nov. 30, 2012
|
|
| Earnings Per Share [Abstract] | ||||
| Antidilutive securities excluded from computation of diluted earnings per share | 2.3 | 3.2 | 2.7 | 3.0 |
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Segment and Geographic Information - Additional Information (Detail)
|
6 Months Ended |
|---|---|
|
Nov. 30, 2013
Segment
|
|
| Segment Reporting [Abstract] | |
| Number of segment | 1 |
| X | ||||||||||
|
- Definition
Number of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Segment and Geographic Information - Summary of Net Sales by Product Category (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Nov. 30, 2013
|
Nov. 30, 2012
|
Nov. 30, 2013
|
Nov. 30, 2012
|
|
| Segment Reporting Information [Line Items] | ||||
| Net sales | $ 88,616 | $ 87,007 | $ 172,195 | $ 170,423 |
|
Operating Segments [Member] | Peripheral Vascular [Member]
|
||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 48,860 | 45,766 | 94,340 | 89,060 |
|
Operating Segments [Member] | Vascular Access [Member]
|
||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 25,571 | 26,712 | 50,854 | 53,342 |
|
Operating Segments [Member] | Oncology/Surgery [Member]
|
||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | 12,557 | 12,006 | 23,724 | 23,239 |
|
Operating Segments [Member] | Supply Agreement [Member]
|
||||
| Segment Reporting Information [Line Items] | ||||
| Net sales | $ 1,628 | $ 2,523 | $ 3,277 | $ 4,782 |
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Segment and Geographic Information - Summary of Net Sales for Geographic Areas (Detail) (USD $)
In Thousands, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
|
Nov. 30, 2013
|
Nov. 30, 2012
|
Nov. 30, 2013
|
Nov. 30, 2012
|
|
| Net Sales | ||||
| Net sales | $ 88,616 | $ 87,007 | $ 172,195 | $ 170,423 |
|
Reportable Geographical Components [Member] | United States [Member]
|
||||
| Net Sales | ||||
| Net sales | 69,530 | 67,129 | 136,632 | 132,898 |
|
Reportable Geographical Components [Member] | International [Member]
|
||||
| Net Sales | ||||
| Net sales | 17,458 | 17,355 | 32,286 | 32,743 |
|
Reportable Geographical Components [Member] | Supply Agreement [Member]
|
||||
| Net Sales | ||||
| Net sales | $ 1,628 | $ 2,523 | $ 3,277 | $ 4,782 |
| X | ||||||||||
|
- Definition
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Fair Value - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Detail) (Recurring [Member], USD $)
In Thousands, unless otherwise specified |
Nov. 30, 2013
|
May 31, 2013
|
|---|---|---|
| Financial Assets | ||
| Cash equivalents | $ 420 | $ 114 |
| Marketable securities | 1,850 | 2,153 |
| Total Financial Assets | 2,270 | 2,267 |
| Financial Liabilities | ||
| Total Financial Liabilities | 73,117 | 75,571 |
|
Money Market Funds [Member]
|
||
| Financial Assets | ||
| Cash equivalents | 420 | 114 |
|
Corporate Bond Securities [Member]
|
||
| Financial Assets | ||
| Marketable securities | 303 | |
|
U.S. Government Agency Obligations [Member]
|
||
| Financial Assets | ||
| Marketable securities | 1,850 | 1,850 |
|
Interest Rate Swap Agreements [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | 725 | 522 |
|
Contingent Consideration Earn Out Liability [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | 72,392 | 75,049 |
|
Level 1 [Member]
|
||
| Financial Assets | ||
| Cash equivalents | 420 | 114 |
| Marketable securities | ||
| Total Financial Assets | 420 | 114 |
| Financial Liabilities | ||
| Total Financial Liabilities | ||
|
Level 1 [Member] | Money Market Funds [Member]
|
||
| Financial Assets | ||
| Cash equivalents | 420 | 114 |
|
Level 1 [Member] | Corporate Bond Securities [Member]
|
||
| Financial Assets | ||
| Marketable securities | ||
|
Level 1 [Member] | U.S. Government Agency Obligations [Member]
|
||
| Financial Assets | ||
| Marketable securities | ||
|
Level 1 [Member] | Interest Rate Swap Agreements [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | ||
|
Level 1 [Member] | Contingent Consideration Earn Out Liability [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | ||
|
Level 2 [Member]
|
||
| Financial Assets | ||
| Cash equivalents | ||
| Marketable securities | 303 | |
| Total Financial Assets | 303 | |
| Financial Liabilities | ||
| Total Financial Liabilities | 725 | 522 |
|
Level 2 [Member] | Money Market Funds [Member]
|
||
| Financial Assets | ||
| Cash equivalents | ||
|
Level 2 [Member] | Corporate Bond Securities [Member]
|
||
| Financial Assets | ||
| Marketable securities | 303 | |
|
Level 2 [Member] | U.S. Government Agency Obligations [Member]
|
||
| Financial Assets | ||
| Marketable securities | ||
|
Level 2 [Member] | Interest Rate Swap Agreements [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | 725 | 522 |
|
Level 2 [Member] | Contingent Consideration Earn Out Liability [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | ||
|
Level 3 [Member]
|
||
| Financial Assets | ||
| Cash equivalents | ||
| Marketable securities | 1,850 | 1,850 |
| Total Financial Assets | 1,850 | 1,850 |
| Financial Liabilities | ||
| Total Financial Liabilities | 72,392 | 75,049 |
|
Level 3 [Member] | Money Market Funds [Member]
|
||
| Financial Assets | ||
| Cash equivalents | ||
|
Level 3 [Member] | Corporate Bond Securities [Member]
|
||
| Financial Assets | ||
| Marketable securities | ||
|
Level 3 [Member] | U.S. Government Agency Obligations [Member]
|
||
| Financial Assets | ||
| Marketable securities | 1,850 | 1,850 |
|
Level 3 [Member] | Interest Rate Swap Agreements [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | ||
|
Level 3 [Member] | Contingent Consideration Earn Out Liability [Member]
|
||
| Financial Liabilities | ||
| Total Financial Liabilities | $ 72,392 | $ 75,049 |
| X | ||||||||||
|
- Definition
Fair value portion of probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value portion of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value of financial and nonfinancial obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair value liabilities measured on recurring basis gain loss included in earnings. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value liabilities measured on recurring basis gain loss included in other comprehensive income No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Contingent Consideration Earn Out Asset No definition available.
|
| X | ||||||||||
|
- Definition
Fair value measurement with unobservable inputs reconciliation recurring basis liability contingent consideration earn out liability. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in the income statement for financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) recognized in other comprehensive income (loss) for financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfer of financial instrument classified as an asset into (out of) level 3 of the fair value hierarchy. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of financial instrument classified as an asset measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of purchases, (sales), issuances and (settlements) of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of transfers of financial instrument classified as a liability into (out of) level 3 of the fair value hierarchy. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value - Summary Showing the Recurring Fair Value Measurements of the Contingent Consideration Liability (Detail) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 6 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|---|
|
Nov. 30, 2013
|
May 31, 2013
|
Nov. 30, 2013
Level 3 [Member]
Contingent Consideration Earn Out Liability [Member]
|
Nov. 30, 2013
Level 3 [Member]
Revenue Based Payments [Member]
Recurring [Member]
Contingent Consideration Earn Out Liability [Member]
|
Nov. 30, 2013
Level 3 [Member]
Revenue Based Payments [Member]
Minimum [Member]
Recurring [Member]
Contingent Consideration Earn Out Liability [Member]
|
Nov. 30, 2013
Level 3 [Member]
Revenue Based Payments [Member]
Maximum [Member]
Recurring [Member]
Contingent Consideration Earn Out Liability [Member]
|
Nov. 30, 2013
Level 3 [Member]
Milestone Based Payments [Member]
Recurring [Member]
Contingent Consideration Earn Out Liability [Member]
|
Nov. 30, 2013
Level 3 [Member]
Milestone Based Payments [Member]
Minimum [Member]
Recurring [Member]
Contingent Consideration Earn Out Liability [Member]
|
Nov. 30, 2013
Level 3 [Member]
Milestone Based Payments [Member]
Maximum [Member]
Recurring [Member]
Contingent Consideration Earn Out Liability [Member]
|
|
| Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | |||||||||
| Revenue based payments | $ 72,392 | $ 75,049 | $ 72,400 | $ 68,100 | $ 4,300 | ||||
| Discount rate | 4.00% | 10.00% | 16.00% | 20.00% | |||||
| Probability of payment | 75.00% | 100.00% | 75.00% | 100.00% | |||||
| Projected fiscal year of payment | 2014 | 2022 | 2014 | 2015 | |||||
| X | ||||||||||
|
- Definition
Fair value inputs probability of payment. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value inputs projected fiscal year of payment. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of contingent consideration liabilities with unobservable inputs to estimate fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of financial instrument classified as a liability measured using unobservable inputs that reflect the entity's own assumption about the assumptions market participants would use in pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Fair Value - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
Nov. 30, 2013
|
|---|---|
| Fair Value Disclosures [Abstract] | |
| Potential amount of undiscounted future contingent consideration | $ 91.7 |
| Fair value of contingent milestone payments, long term portion | 60.2 |
| Fair value of contingent milestone payments, current portion | $ 12.2 |
| X | ||||||||||
|
- Definition
Current portion contingent milestone payments fair value disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
Noncurrent portion contingent milestone payments fair value disclosure. No definition available.
|
| X | ||||||||||
|
- Definition
Undiscounted Contingent Consideration Disclosure No definition available.
|
| X | ||||||||||
|
- Details
|
|
Fair Value - Summary Showing Reconciliation of the Contingent Payments (Detail) (Contingent Consideration Earn Out Liability [Member], Vortex, Microsulis and Clinical Devices [Member], USD $)
|
6 Months Ended |
|---|---|
|
Nov. 30, 2013
|
|
|
Contingent Consideration Earn Out Liability [Member] | Vortex, Microsulis and Clinical Devices [Member]
|
|
| Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |
| Beginning balance - May 31, 2013 | $ 75,000 |
| Purchase price contingent consideration | 5,000 |
| Contingent payments | (9,300) |
| Change in fair value of contingent consideration | 1,700 |
| Ending balance - November 30, 2013 | $ 72,400 |
| X | ||||||||||
|
- Definition
Fair value measurement with unobservable inputs reconciliations recurring basis change in fair value of contingent consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value measurement with unobservable inputs reconciliations recurring basis contingent consideration. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value measurement with unobservable inputs reconciliations recurring basis contingent payment. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value measurement with unobservable inputs reconciliations recurring basis value. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Marketable Securities - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
Nov. 30, 2013
Investment
|
May 31, 2013
Investment
|
|---|---|---|
| Amortized Cost And Fair Value Debt Securities [Abstract] | ||
| Investments in auction rate securities that failed auctions | $ 1.85 | $ 1.85 |
| Number of investments | 2 | 2 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Number of investments failed at auction. No definition available.
|
| X | ||||||||||
|
- Definition
The value of securities held, for which the interest rate resets through an auction process, that are categorized neither as trading nor held-to-maturity, that failed to be liquidated through auction. No definition available.
|
|
Marketable Securities - Marketable Securities (Detail) (USD $)
In Thousands, unless otherwise specified |
Nov. 30, 2013
|
May 31, 2013
|
|---|---|---|
| Schedule of Available-for-sale Securities [Line Items] | ||
| Amortized cost | $ 1,850 | $ 2,153 |
| Gross Unrealized Gains | ||
| Gross Unrealized Losses | ||
| Fair Value | 1,850 | 2,153 |
|
U.S. Government Agency Obligations [Member]
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Amortized cost | 1,850 | 1,850 |
| Gross Unrealized Gains | ||
| Gross Unrealized Losses | ||
| Fair Value | 1,850 | 1,850 |
|
Corporate Bond Securities [Member]
|
||
| Schedule of Available-for-sale Securities [Line Items] | ||
| Amortized cost | 303 | |
| Gross Unrealized Gains | ||
| Gross Unrealized Losses | ||
| Fair Value | $ 303 |
| X | ||||||||||
|
- Definition
Amount of accumulated pre-tax unrealized gain before deducting pre-tax unrealized losses on investments in available-for-sale securities impacting investments. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of accumulated pre-tax unrealized loss before deducting pre-tax unrealized gain on investments in available-for-sale securities impacting investments. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of investments in debt securities classified as available-for-sale, expected to be converted to cash, sold or exchanged within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Litigation - Additional Information (Detail) (USD $)
In Millions, unless otherwise specified |
1 Months Ended | 6 Months Ended | |
|---|---|---|---|
|
Nov. 08, 2012
Biolitec [Member]
|
Nov. 30, 2013
Biolitec [Member]
Lawsuits
|
Nov. 30, 2013
C.R. Bard, Inc. [Member]
Petition
|
|
| Loss Contingencies [Line Items] | |||
| Number of lawsuits against biolitec previously settled for which seeking defense and indemnification | 2 | ||
| Partial judgment granted | $ 23.2 | ||
| Number of petitions filed for reexamination of patents | 3 | ||
| Number of patent claims rejected | 40 of 41 patent |
| X | ||||||||||
|
- Definition
Number of lawsuits. No definition available.
|
| X | ||||||||||
|
- Definition
Number of patent claims rejected. No definition available.
|
| X | ||||||||||
|
- Definition
Number of patents asserted for reexamination. No definition available.
|
| X | ||||||||||
|
- Definition
Partial judgment granted in litigation matter. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Recently Issued Accounting Pronouncements - Additional Information (Detail)
|
6 Months Ended |
|---|---|
|
Nov. 30, 2013
|
|
| Accounting Policies [Abstract] | |
| Indefinite-lived intangible asset impairment threshold | More than 50% |
| X | ||||||||||
|
- Definition
The more-likely than not indefinite-lived intangible asset impairment threshold. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Subsequent Events - Additional Information (Detail) (Subsequent Event [Member], USD $)
In Millions, unless otherwise specified |
0 Months Ended |
|---|---|
|
Dec. 05, 2013
|
|
| Subsequent Event [Line Items] | |
| Operational excellence program period | 3 years |
|
Minimum [Member]
|
|
| Subsequent Event [Line Items] | |
| Expected savings due to operational excellence program over three years | $ 15 |
| Number of employees to be reduced | 80 |
|
Maximum [Member]
|
|
| Subsequent Event [Line Items] | |
| Expected savings due to operational excellence program over three years | $ 18 |
| Number of employees to be reduced | 100 |
| X | ||||||||||
|
- Definition
Business Development Program Period No definition available.
|
| X | ||||||||||
|
- Definition
Operational Excellence Program Expected Savings No definition available.
|
| X | ||||||||||
|
- Definition
Reduction in New York workforce headcount related to OPEX program. No definition available.
|
| X | ||||||||||
|
- Details
|