Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Nov. 30, 2018	Jan. 03, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Nov. 30, 2018
Document Fiscal Year Focus	2019
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 Emerging Growth Company	false
Entity Small Business	false
Entity Common Stock, Shares Outstanding		37,137,203

Consolidated Statements of Income (unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Income Statement [Abstract]
Net sales	$ 91,503	$ 86,706	$ 176,843	$ 172,117
Cost of sales (exclusive of intangible amortization)	42,394	43,975	83,267	88,157
Gross profit	49,109	42,731	93,576	83,960
Operating expenses:
Research and development	7,363	6,107	15,025	12,548
Sales and marketing	20,269	18,967	39,702	38,369
General and administrative	9,336	7,540	17,832	15,596
Amortization of intangibles	5,188	4,146	9,304	8,242
Change in fair value of contingent consideration	244	82	256	187
Acquisition, restructuring and other items, net	2,728	4,766	7,150	7,755
Total operating expenses	45,128	41,608	89,269	82,697
Operating income	3,981	1,123	4,307	1,263
Other (expenses) income:
Interest expense, net	(1,330)	(760)	(2,247)	(1,483)
Other income (loss), net	80	(280)	194	287
Total other expenses, net	(1,250)	(1,040)	(2,053)	(1,196)
Income before income tax expense	2,731	83	2,254	67
Income tax expense (benefit)	591	(166)	583	(147)
Net income	$ 2,140	$ 249	$ 1,671	$ 214
Earnings per share
Basic (in usd per share)	$ 0.06	$ 0.01	$ 0.04	$ 0.01
Diluted (in usd per share)	$ 0.06	$ 0.01	$ 0.04	$ 0.01
Basic weighted average shares outstanding (in shares)	37,500	37,066	37,411	36,983
Diluted weighted average shares outstanding (in shares)	38,117	37,383	38,131	37,322

Consolidated Statements of Comprehensive Income (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 2,140	$ 249	$ 1,671	$ 214
Other comprehensive income, before tax:
Unrealized gain on marketable securities	0	45	33	45
Foreign currency translation	(206)	150	(331)	433
Other comprehensive income (loss), before tax	(206)	195	(298)	478
Income tax expense related to items of other comprehensive income	0	0	0	0
Other comprehensive income (loss), net of tax	(206)	195	(298)	478
Total comprehensive income, net of tax	$ 1,934	$ 444	$ 1,373	$ 692

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Balance Sheets (unaudited) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Current assets
Cash and cash equivalents	$ 42,820	$ 74,096
Marketable securities	1,350	1,317
Accounts receivable, net of allowances of $2,225 and $2,466, respectively	43,374	39,401
Inventories	50,637	48,916
Prepaid expenses and other	4,776	4,302
Total current assets	142,957	168,032
Property, plant and equipment, net	41,945	42,461
Other assets	3,478	3,417
Intangible assets, net	168,706	130,310
Goodwill	426,874	361,252
Total assets	783,960	705,472
Current liabilities
Accounts payable	19,424	15,775
Accrued liabilities	21,272	34,426
Current portion of long-term debt	5,000	5,000
Current portion of contingent consideration	4,006	2,100
Total current liabilities	49,702	57,301
Long-term debt, net of current portion	139,266	86,621
Deferred income taxes	17,696	17,173
Contingent consideration, net of current portion	22,512	1,161
Other long-term liabilities	5,221	621
Total liabilities	234,397	162,877
Commitments and contingencies (Note 14)
Stockholders' equity
Preferred stock, par value $.01 per share, 5,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, par value $.01 per share, 75,000,000 shares authorized; 37,875,529 and 37,594,493 shares issued and 37,505,529 and 37,224,493 shares outstanding at November 30, 2018 and May 31, 2018, respectively	372	370
Additional paid-in capital	549,355	543,762
Retained earnings	6,800	5,129
Treasury stock, 370,000 shares at November 30, 2018 and May 31, 2018, respectively	(5,714)	(5,714)
Accumulated other comprehensive loss	(1,250)	(952)
Total Stockholders’ Equity	549,563	542,595
Total Liabilities and Stockholders' Equity	$ 783,960	$ 705,472

Consolidated Balance Sheets (unaudited) (Parenthetical) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Statement of Financial Position [Abstract]
Accounts receivable, allowances	$ 2,225	$ 2,466
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	5,000,000	5,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	75,000,000	75,000,000
Common stock, shares issued (in shares)	37,875,529	37,594,493
Common stock, shares outstanding (in shares)	37,505,529	37,224,493
Treasury stock, shares (in shares)	370,000	370,000

Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017
Cash flows from operating activities:
Net income	$ 1,671,000	$ 214,000
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,291,000	11,677,000
Stock based compensation	4,741,000	3,763,000
Change in fair value of contingent consideration	256,000	187,000
Gain on contingent consideration for IPR&D Write-off	495,000	(106,000)
Change in accounts receivable allowances	(75,000)	280,000
Fixed and intangible asset impairments and disposals	12,000	8,000
Other	(17,000)	(557,000)
Changes in operating assets and liabilities:
Accounts receivable	(3,068,000)	2,299,000
Inventories	(955,000)	598,000
Prepaid expenses and other	(1,183,000)	(703,000)
Accounts payable, accrued and other liabilities	(10,082,000)	(4,459,000)
Net cash provided by operating activities	4,086,000	13,201,000
Cash flows from investing activities:
Additions to property, plant and equipment	(1,416,000)	(1,222,000)
Cash paid for acquisitions	(84,920,000)	0
Net cash used in investing activities	(86,336,000)	(1,222,000)
Cash flows from financing activities:
Proceeds from issuance of and borrowings on long-term debt	55,000,000	0
Repayment of long-term debt	(2,500,000)	(2,500,000)
Payment of acquisition related contingent consideration	(2,100,000)	(9,500,000)
Proceeds from exercise of stock options and employee stock purchase plan	854,000	1,738,000
Net cash provided by (used) in financing activities	51,254,000	(10,262,000)
Effect of exchange rate changes on cash and cash equivalents	(280,000)	595,000
(Decrease) increase in cash and cash equivalents	(31,276,000)	2,312,000
Cash and cash equivalents at beginning of period	74,096,000	47,544,000
Cash and cash equivalents at end of period	42,820,000	49,856,000
Supplemental disclosure of non-cash investing and financing activities:
Change in accounts payable for property and equipment	(19,000)	98,000
Fair value of contingent consideration for acquisitions	25,100	0
Fair value of acquisition consideration included in accrued expenses and other long-term liabilities	$ 4,863	$ 0

Consolidated Statement of Stockholders' Equity (unaudited) - USD ($) $ in Thousands	Total	Restricted stock units	Performance share units	Common Stock	Common Stock Restricted stock units	Common Stock Performance share units	Additional paid in capital	Additional paid in capital Restricted stock units	Retained earnings	Accumulated other comprehensive loss	Treasury Stock
Beginning Balance at May. 31, 2018	$ 542,595			$ 370			$ 543,762		$ 5,129	$ (952)	$ (5,714)
Beginning Balance, Shares at May. 31, 2018				37,594,493
Beginning Balance,Treasury Shares at May. 31, 2018	(370,000)										(370,000)
Net income	$ (469)								(469)
Exercise of stock options	608			$ 1			607
Exercise of stock options, Shares				71,336
Issuance/Cancellation of restricted stock units		$ (460)	$ 0					$ (460)
Issuance/Cancellation of performance share units and restricted stock units, net, Shares					149,446	5,235
Purchases of common stock under ESPP	557			$ 1			556
Purchase of common stock under ESPP, Shares				40,547
Stock-based compensation	2,150						2,150
Other comprehensive loss, net of tax	(92)									(92)
Ending Balance at Aug. 31, 2018	544,889			$ 372			546,615		4,660	(1,044)	$ (5,714)
Ending Balance, Shares at Aug. 31, 2018				37,861,057
Ending Balance,Treasury Shares at Aug. 31, 2018											(370,000)
Beginning Balance at May. 31, 2018	$ 542,595			$ 370			543,762		5,129	(952)	$ (5,714)
Beginning Balance, Shares at May. 31, 2018				37,594,493
Beginning Balance,Treasury Shares at May. 31, 2018	(370,000)										(370,000)
Net income	$ 1,671
Ending Balance at Nov. 30, 2018	$ 549,563			$ 372			549,355		6,800	(1,250)	$ (5,714)
Ending Balance, Shares at Nov. 30, 2018				37,875,529
Ending Balance,Treasury Shares at Nov. 30, 2018	(370,000)										(370,000)
Beginning Balance at Aug. 31, 2018	$ 544,889			$ 372			546,615		4,660	(1,044)	$ (5,714)
Beginning Balance, Shares at Aug. 31, 2018				37,861,057
Beginning Balance,Treasury Shares at Aug. 31, 2018											(370,000)
Net income	2,140								2,140
Exercise of stock options	149						149
Exercise of stock options, Shares				10,571
Issuance/Cancellation of restricted stock units		$ 0	$ 0
Issuance/Cancellation of performance share units and restricted stock units, net, Shares					3,901
Purchases of common stock under ESPP	0
Stock-based compensation	2,591						2,591
Other comprehensive loss, net of tax	(206)									(206)
Ending Balance at Nov. 30, 2018	$ 549,563			$ 372			$ 549,355		$ 6,800	$ (1,250)	$ (5,714)
Ending Balance, Shares at Nov. 30, 2018				37,875,529
Ending Balance,Treasury Shares at Nov. 30, 2018	(370,000)										(370,000)

Consolidated Financial Statements	6 Months Ended
Consolidated Financial Statements	Nov. 30, 2018
Accounting Policies [Abstract]
Consolidated Financial Statements	CONSOLIDATED FINANCIAL STATEMENTS The consolidated balance sheet as of November 30, 2018, the consolidated statement of stockholders’ equity for the three and six months ended November 30, 2018 and 2017, and the consolidated statements of income, consolidated statements of comprehensive income (loss) for the three and six months ended November 30, 2018 and 2017, and consolidated statements of cash flows for the six months ended November 30, 2018 and 2017 have been prepared by us and are unaudited. The consolidated balance sheet as of May 31, 2018 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 (consisting of 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, 2018 (and for all periods presented) have been made. The unaudited interim consolidated financial statements for the three and six months ended November 30, 2018 and 2017 include the accounts of AngioDynamics, Inc. and its wholly owned subsidiaries, collectively, the “Company”. All intercompany balances and transactions have been eliminated.

Acquisitions

6 Months Ended

Nov. 30, 2018

Business Combinations [Abstract]

Acquisitions

ACQUISITIONS

RadiaDyne Acquisition

On September 21, 2018, the Company acquired RadiaDyne, a privately held medical diagnostic and device company that designs and develops patient dose monitoring technology to improve cancer treatment outcomes. The aggregate purchase price of $75.0 million included an upfront payment of $47.9 million, contingent consideration with an estimated fair value of $22.3 million, an indemnification holdback of $4.6 million and a purchase price holdback of $0.2 million. The fair value of $22.3 million in contingent consideration is comprised of $16.5 million for the revenue milestones and $5.8 million for the technical milestones. The $4.6 million indemnification holdback is recorded in other long-term liabilities and the $0.2 million purchase price holdback is recorded in accrued liabilities.

This acquisition expands the Company’s growing Oncology business by adding RadiaDyne’s early-stage, proprietary OARtrac® real-time radiation dose monitoring platform and other market-leading oncology solutions, including the IsoLoc®/ImmobiLoc® and Alatus® balloon stabilizing technologies.

The Company accounted for the RadiaDyne acquisition under the acquisition method of accounting for business combinations. Accordingly, the cost to acquire the assets was allocated to the underlying net assets in proportion to estimates of their respective fair values. The excess of the purchase price over the estimated fair value of the net assets acquired was recorded as goodwill. Goodwill is deductible for income tax purposes.

The Company has not disclosed the amount of revenue and earnings for sales of RadiaDyne products since acquisition, nor proforma information, because these amounts are not significant to the Company's financial statements. Acquisition-related costs associated with the RadiaDyne acquisition, which are included in acquisition, restructuring and other expenses, net in the accompanying consolidated statements of income, were approximately $1.6 million. The following table summarizes the preliminary aggregate purchase price allocated to the net assets acquired:



(in thousands)	Sep 21, 2018
Assets acquired
Accounts receivable	$	900
Inventory	732
Prepaid and other current assets	98
Property, plant and equipment	133
Intangible assets:
RadiaDyne trademark	400
OarTrac trademark	200
RadiaDyne legacy product technology	1,500
OarTrac product technology	16,300
RadiaDyne customer relationships	3,700
Goodwill	51,482
Total assets acquired	$	75,445
Liabilities assumed
Accounts payable	$	352
Accrued expenses	106
Total liabilities assumed	$	458
Net assets acquired	$	74,987

The allocation of the purchase price to the assets acquired and liabilities assumed, including the amount allocated to goodwill, is subject to change within the measurement period (up to one year from the acquisition date) as additional information that existed at the date of the acquisition related to the values of assets acquired and liabilities assumed is obtained.

The values assigned to the RadiaDyne and OarTrac trademark and product technologies were derived using the relief-from-royalties method under the income approach. This approach is used to estimate the cost savings that accrue for the owner of an intangible asset who would otherwise have to pay royalties or licensing fees on revenues earned through the use of the asset if they had not owned the rights to use the assets. The net after-tax royalty savings are calculated for each year in the remaining economic life of the intangible asset and discounted to present value. The trademarks are deemed to have a useful life of five to seven years and the product technologies are deemed to have a useful life of seven to ten years. Both are amortized on a straight-line basis over their useful life.

The value assigned to customer relationships was derived using the multi-period excess earnings method under the income approach. This approach estimates the excess earnings generated over the lives of the customers that existed as of the acquisition date and discounts such earnings to present value. Customer relationships are amortized on a straight-line basis over fifteen years.

The goodwill arising from the acquisition consists largely of synergies and economies of scale the Company hopes to achieve from combining the acquired assets with the Company's current operations.

BioSentry Acquisition

On August 14, 2018, the Company acquired the BioSentry product from Surgical Specialties, LLC (“SSC”), for an aggregate purchase price of $39.8 million of which $37.0 million was paid on August 14, 2018 and $2.8 million was recorded as contingent consideration. The contingent consideration liability was recorded at fair value and will be payable to SSC upon fulfillment of certain hydrogel orders.

The Company accounted for the BioSentry acquisition under the acquisition method of accounting for business combinations. Accordingly, the cost to acquire the assets was allocated to the underlying net assets in proportion to estimates of their respective fair values. The excess of the purchase price over the estimated fair value of the net assets acquired was recorded as goodwill. Goodwill is deductible for income tax purposes.

The Company has not disclosed the amount of revenue and earnings for sales of BioSentry products since acquisition, nor proforma information, because these amounts are not significant to the Company's financial statements. Acquisition-related costs associated with the BioSentry acquisition, which are included in acquisition, restructuring and other expenses, net in the accompanying consolidated statements of income, were approximately $1.0 million. The following table summarizes the

preliminary aggregate purchase price allocated to the net assets acquired:



	Preliminary allocation		Adjustments (1)			Revised allocation
(in thousands)
Inventory	$	50	$	—		$	50
Property, plant and equipment	10		—			10
Intangible assets:
BioSentry trademark	1,700		800			2,500
BioSentry product technology	13,800		7,100			20,900
Customer relationships	2,500		(300		)	2,200
Goodwill	21,740		(7,600		)	14,140
Net assets acquired	$	39,800	$	—		$	39,800

(1) Measurement period adjustments are recognized on a prospective basis in the period of change, instead of restating prior periods. There was no impact to reported earnings in connection with these measurement period adjustments for the periods presented. Amounts represent adjustments to the preliminary purchase price allocation first presented in the Company's Quarterly Report on Form 10-Q for the quarter ended August 31, 2018 resulting from revising the Company's purchase price allocation for this acquisition.

The values assigned to the BioSentry trademark and product technologies were derived using the relief-from-royalties method under the income approach. This approach is used to estimate the cost savings that accrue for the owner of an intangible asset who would otherwise have to pay royalties or licensing fees on revenues earned through the use of the asset if they had not owned the rights to use the assets. The net after-tax royalty savings are calculated for each year in the remaining economic life of the intangible asset and discounted to present value. The trademark and product technologies are deemed to have a fifteen year useful life and are amortized on a straight-line basis over their useful life.

The goodwill arising from the acquisition consists largely of synergies and economies of scale the Company hopes to achieve from combining the acquired assets with the Company's current operations.

Revenue from Contracts with Customers

6 Months Ended

Nov. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contracts with Customers

REVENUE FROM CONTRACTS WITH CUSTOMERS

Adoption of ASC Topic 606 "Revenue from Contracts with Customers"

The Company adopted ASC 606, Revenue from Contracts with Customers on June 1, 2018 using the modified retrospective method for all contracts not completed as of the date of adoption. The reported results for fiscal 2019 reflect the application of ASC 606 guidance while the reported results for fiscal 2018 were prepared under the guidance of ASC 605, Revenue Recognition (“ASC 605”). For discussion of the Company’s accounting policy for revenue recognition under ASC 605, refer to Item 8 of the Annual Report on Form 10-K for the year ended May 31, 2018. The adoption of ASC 606 did not have an impact on the Company’s consolidated balance sheet, results of operations, equity or cash flows as of the adoption date or for the periods presented, other than the enhanced disclosures included in this footnote.

Revenue Recognition

Under ASC 606, revenue is recognized when a customer obtains control of promised goods or services, in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of ASC 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation.

The Company has one primary revenue stream which is the sales of its products.

Disaggregation of Revenue

The following tables summarize net product revenue by Global Business Unit ("GBU") and geography for the three and six months ended November 30, 2018:



	Three months ended November 30, 2018
(in thousands)	United States		International		Total
Net sales
Vascular Interventions & Therapies	$	42,826	$	9,668	$	52,494
Vascular Access	20,081		3,642		23,723
Oncology	8,976		6,310		15,286
Total	$	71,883	$	19,620	$	91,503



	Six months ended November 30, 2018
(in thousands)	United States		International		Total
Net sales
Vascular Interventions & Therapies	$	84,864	$	17,624	$	102,488
Vascular Access	40,528		6,985		47,513
Oncology	14,175		12,667		26,842
Total	$	139,567	$	37,276	$	176,843

Net Product Revenue

The Company's products consist of a wide range of medical, surgical and diagnostic devices used by professional healthcare providers for vascular access, for the treatment of peripheral vascular disease and for use in oncology and surgical settings. The Company's devices are generally used in minimally invasive, image-guided procedures. Most of the Company's products are intended to be used once and then discarded, or they may be temporarily implanted for short- or longer-term use. The Company sells its products to its distribution partners and to end users, such as interventional radiologists, interventional cardiologists, vascular surgeons, urologists, interventional and surgical oncologists and critical care nurses.

Contracts and Performance Obligations

The Company contracts with its customers based on customer purchase orders, which in many cases are governed by master purchasing agreements. The Company’s contracts with customers are generally for product only, and do not include other performance obligations such as services or other material rights. As part of its assessment of each contract, the Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations.

Transaction Price and Allocation to Performance Obligations

Transaction prices of products are typically based on contracted rates. Product revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring products to a customer. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the expected value method. As such, revenue is recorded net of rebates, returns and other deductions.

If a contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price based on the estimated relative standalone selling prices of the promised products underlying each performance obligation. The Company has standard pricing for its products and determines standalone selling prices based on the price at which the performance obligation is sold separately.

Revenue Recognition

Revenue is recognized when control of the product is transferred to the customer (i.e., when the Company’s performance obligation is satisfied), which occurs at a point in time, and may be upon shipment from the Company’s manufacturing site or delivery to the customer’s named location, based on the contractual shipping terms of a contract.

In determining whether control has transferred, the Company considers if there is a present right to payment from the customer and when physical possession, legal title and risks and rewards of ownership have transferred to the customer.

The Company typically invoices customers upon satisfaction of identified performance obligations. As the Company’s standard payment terms are 30 to 90 days from invoicing, the Company does not provide any significant financing to its customers.

Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue.

Variable Consideration

Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for which reserves are established for discounts, returns, rebates and allowances that are offered within contracts between the Company and its customers. These reserves are based on the amounts earned or to be claimed on the related sales and are classified as a current liability.

Rebates and Allowances: The Company provides certain customers with rebates and allowances that are explicitly stated in the Company’s contracts and are recorded as a reduction of revenue in the period the related product revenue is recognized. The Company establishes a liability for such amounts, which is included in accrued expenses in the accompanying condensed consolidated balance sheets. These rebates and allowances result from performance-based offers that are primarily based on attaining contractually specified sales volumes and administrative fees the Company is required to pay to group purchasing organizations.

Product Returns: The Company generally offers customers a limited right of return. Product returns after 30 days must be pre-approved by the Company and customers may be subject to a 20% restocking charge. To be accepted, a returned product must be unadulterated, undamaged and have at least twelve months remaining prior to its expiration date. The Company estimates the amount of its product sales that may be returned by its customers and records this estimate as a reduction of revenue in the period the related product revenue is recognized. The Company currently estimates product return liabilities using its historical product return information and considers other factors that it believes could significantly impact its expected returns, including product recalls. During the six months ended November 30, 2018, such product returns were not material.

Contract Balances with Customers

A receivable is recognized in the period the Company ships the product. Payment terms on invoiced amounts are based on contractual terms with each customer and generally coincide with revenue recognition. Accordingly, the Company does not have any contract assets associated with the future right to invoice its customers. In some cases, if control of the product has not yet transferred to the customer or the timing of the payments made by the customer precedes the Company’s fulfillment of the performance obligation, the Company recognizes a contract liability that is included in deferred revenue in the accompanying condensed consolidated balance sheets.

The following table presents changes in the Company’s receivables, contract assets and contract liabilities with customers:



	Nov 30, 2018		May 31, 2018
(in thousands)
Receivables	$	43,374	$	39,401
Contract assets	$	—	$	—
Contract liabilities	$	1,201	$	1,203

During the six months ended November 30, 2018, the Company recognized $0.2 million in revenue that was included in contract liabilities as of the beginning of the period. This was offset by additions to contract liabilities of $0.2 million.

Costs to Obtain or Fulfill a Customer Contract

Prior to the adoption of ASC 606, the Company expensed incremental commissions paid to sales representatives for obtaining product sales. Under ASC 606, the Company recognizes an asset for incremental costs of obtaining a contract with a customer if it expects to recover those costs. The Company’s sales incentive compensation plans qualify for capitalization since these plans are directly related to sales achieved during a period of time. However, the Company has elected the practical expedient under ASC 340-40-25-4 to expense the costs as they are incurred within selling and marketing expenses since the amortization period is less than one year.

The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. Shipping and handling costs, associated with the distribution of finished products to customers, are recorded in costs of goods sold and are recognized when the related finished product is shipped to the customer. Amounts charged to customers for shipping are recorded in net sales.

Inventories

6 Months Ended

Nov. 30, 2018

Inventory Disclosure [Abstract]

Inventories

INVENTORIES

Inventories are stated at lower of cost and net realizable value (using the first-in, first-out method). Inventories consisted of the following:



	Nov 30, 2018		May 31, 2018
(in thousands)
Raw materials	$	20,282	$	18,678
Work in process	10,125		10,808
Finished goods	20,230		19,430
Inventories	$	50,637	$	48,916

The Company periodically reviews for both obsolescence and loss of value. The Company makes assumptions about the future demand for and market value of the inventory. Based on these assumptions, the Company estimates the amount of obsolete, expiring and slow moving inventory. The total inventory reserve at November 30, 2018 and May 31, 2018 was $5.0 million and $6.1 million, respectively. Of the $5.0 million reserve as of November 30, 2018, $0.4 million relates to the inventory reserve for Acculis inventory as a result of the recall announced in the fourth quarter of fiscal year 2017 and $0.7 million relates to a specific reserve related to the termination of an agreement with a Japanese distributor in the second quarter of fiscal year 2018. Of the $6.1 million reserve as of May 31, 2018, $1.6 million relates to the inventory reserve for Acculis inventory as a result of the recall announced in the fourth quarter of fiscal year 2017 and $0.7 million relates to a specific reserve related to the termination of an agreement with a Japanese distributor in the second quarter of fiscal year 2018.

Goodwill and Intangible Assets

6 Months Ended

Nov. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Intangible assets other than goodwill are amortized over their estimated useful lives on either a straight-line basis or proportionately to the benefit being realized. Useful lives range from two to eighteen years. The Company periodically reviews the estimated useful lives of its intangible assets and reviews such assets or asset groups for impairment whenever events or changes in circumstances indicate that the carrying value of the assets or asset groups may not be recoverable. If an intangible asset or asset group 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 is not amortized, but rather, is 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.

The changes in the carrying amount of goodwill for the six months ended November 30, 2018 were as follows:



(in thousands)
Goodwill balance at May 31, 2018	$	361,252
Additions for BioSentry acquisition (Note 2)	14,140
Additions for RadiaDyne acquisition (Note 2)	51,482
Goodwill balance at November 30, 2018	$	426,874

The Company's annual testing for impairment of goodwill was completed as of December 31, 2017. The Company operates as a single operating segment with one reporting unit and consequently evaluates goodwill for impairment based on an evaluation of the fair value of the Company as a whole. The Company determines the fair value of the reporting unit based on the market valuation approach and concluded that it was not more-likely-than-not that the fair value of the Company's reporting unit was less than its carrying value.

Even though the Company determined that there was no goodwill impairment as of December 31, 2017, the future occurrence of a potential indicator of impairment, such as a significant adverse change in legal, regulatory, business or economic conditions 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, 2018. The Company continued to assess for potential impairment through November 30, 2018 and noted no events that would be considered a triggering event.

Intangible assets consisted of the following:



	Nov 30, 2018
	Gross carrying value		Accumulated amortization			Net carrying value
(in thousands)
Product technologies	$	185,872	$	(74,415	)	$	111,457
Customer relationships	62,284		(25,252		)	37,032
Trademarks	31,500		(13,085		)	18,415
Licenses	5,752		(4,697		)	1,055
Distributor relationships	1,250		(503		)	747
	$	286,658	$	(117,952	)	$	168,706



	May 31, 2018
	Gross carrying value		Accumulated amortization			Net carrying value
(in thousands)
Product technologies	$	147,175	$	(68,880	)	$	78,295
Customer relationships	56,428		(23,237		)	33,191
Trademarks	28,400		(11,809		)	16,591
Licenses	5,752		(4,357		)	1,395
Distributor relationships	1,250		(412		)	838
	$	239,005	$	(108,695	)	$	130,310

Amortization expense for the three months ended November 30, 2018 and 2017 was $5.2 million and $4.1 million, respectively. Amortization expense for the six months ended November 30, 2018 and 2017 was $9.3 million and $8.2 million, respectively.

Expected future amortization expense related to the intangible assets is as follows:



(in thousands)
Remainder of 2019	$	10,277
2020	18,963
2021	17,804
2022	16,919
2023	16,468
2024 and thereafter	88,275
	$	168,706

Long Term Debt

6 Months Ended

Nov. 30, 2018

Debt Disclosure [Abstract]

Long Term Debt

LONG TERM DEBT

On November 7, 2016, the Company 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 JPMorgan Chase Bank, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Keybank National Association as joint bookrunners and joint lead arrangers.

The Credit Agreement provides for a $100.0 million senior secured term loan facility (“Term Loan”) and a $150.0 million senior secured revolving credit facility, which includes up to a $20.0 million sublimit for letters of credit and a $5.0 million sublimit for swingline loans (the “Revolving Facility”, and together with the Term Loan, the “Facilities”).

On November 7, 2016, the Company borrowed $100.0 million under the Term Loan and approximately $16.5 million under the Revolving Facility to repay the balance of $116.5 million under the former credit agreement. As of November 30, 2018 and May 31, 2018 the carrying value of long-term debt approximates its fair market value.

The interest rate on the Term Loan at November 30, 2018 was 3.80%.

The Company was in compliance with the Credit Agreement covenants as of November 30, 2018.

The Company's maturities of principal obligations under the Credit Agreement are as follows, as of November 30, 2018:



(in thousands)
Remainder of 2019	$	2,500
2020	7,500
2021	11,250
2022	68,750
Total term loan	90,000
Revolving facility (1)	55,000
Total debt	145,000
Less: Unamortized debt issuance costs	(734		)
Total	144,266
Less: Current portion of long-term debt	(5,000		)
Total long-term debt, net	$	139,266

(1) The revolving facility is due in fiscal year 2022.

Income Taxes	6 Months Ended
Income Taxes	Nov. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The Company provides for income taxes at the end of each interim period based on the estimated effective tax rate for the full fiscal year adjusted for any discrete events, which are recorded in the period that they occur. The estimated annual effective tax rate prior to discrete items was 26.3% in the second quarter of fiscal 2019, as compared to 59.8% for the same period in fiscal 2018. In fiscal 2019, the Company’s effective tax rate differs from the U.S. statutory rate primarily due to the impact of the valuation allowance, foreign taxes and state taxes. On December 22, 2017, the United States enacted the Tax Cuts and Jobs Act of 2017 (the “Tax Reform Act”). The Tax Reform Act is significant and has wide-ranging effects. The Company is still studying all of the ramifications of the Tax Reform Act, but expects the primary material impact of the Act to be the remeasurement of the Company’s naked credit deferred tax liability, which was recorded in fiscal 2018 as a result of the reduction in U.S. corporate tax rates from 35% to 21%. The Tax Reform Act imposes a one-time transition tax on the deemed repatriation of post-1986 undistributed foreign subsidiaries’ earnings. Based on the information available as of December 31, 2017, the Company estimated undistributed foreign earnings in fiscal 2018. The taxable income arising from this deemed repatriation is expected to result in the utilization of net operating loss carryforwards and other tax credits, offset by changes in the valuation allowance, resulting in no net impact to tax expense. No changes have been made to these estimates and the Company expects to complete its accounting for these items within the prescribed measurement period. The Tax Reform Act also creates a new requirement that certain income earned by foreign subsidiaries (“GILTI”), must be included in U.S. gross income. The FASB allows an accounting policy election of either recognizing deferred taxes for temporary differences expected to reverse as GILTI in future years or recognizing such taxes as a current period expense when incurred. The Company has not yet adopted an accounting policy. The Company regularly assesses its ability to realize its deferred tax assets. Assessing the realization of deferred tax assets requires significant management judgment. In determining whether its deferred tax assets are more likely than not realizable, the Company evaluated all available positive and negative evidence, and weighted the evidence based on its objectivity. Evidence the Company considered included its history of net operating losses, which resulted in the Company recording a full valuation allowance for its deferred tax assets in fiscal 2016, except the naked credit deferred tax liability. Based on the review of all available evidence, the Company determined that it has not yet attained a sustained level of profitability and the objectively verifiable negative evidence outweighed the positive evidence. Therefore, the Company has provided a valuation allowance on its federal and state net operating loss carryforwards, federal and state R&D credit carryforwards and other net deferred tax assets that have a limited life and are not supportable by the naked credit deferred tax liability sourced income as of November 30, 2018. The Company will continue to assess the level of the valuation allowance required. If sufficient positive evidence exists in future periods to support a release of some or all of the valuation allowance, such a release would likely have a material impact on the Company’s results of operations.

Share-Based Compensation	6 Months Ended
Share-Based Compensation	Nov. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION The Company has two stock-based compensation plans that provide for the issuance of up to approximately 11.3 million shares of common stock. The 2004 Stock and Incentive Award Plan (the "2004 Plan") provides for the grant of incentive options to the Company's employees and for the grant of non-statutory stock options, restricted stock, stock appreciation rights, performance units, performance shares and other incentive awards to the Company's employees, directors and other service providers. The Company also has an employee stock purchase plan. For the three months ended November 30, 2018 and 2017, share-based compensation expense was $2.6 million and $2.0 million, respectively. For the six months ended November 30, 2018 and 2017, share-based compensation expense was $4.7 million and $3.8 million, respectively. During the six months ended November 30, 2018 and 2017, the Company granted stock options and restricted stock units under the 2004 Plan to certain employees and members of the Board of Directors. Stock option awards are valued using the Black-Scholes option-pricing model and then amortized on a straight-line basis over the requisite service period of the award. Restricted stock unit awards are valued based on the closing trading value of the Company's shares on the date of grant and then amortized on a straight-line basis over the requisite service period of the award. In the first six months of fiscal year 2019, the Company granted market-based performance share awards under the 2004 Plan to certain employees. The awards may be earned by achieving relative performance levels over the three year requisite service period. The performance criteria are based on the total shareholder return ("TSR") of the Company's common stock relative to the TSR of the common stock of a pre-defined industry peer-group. The fair value of these awards are based on the closing trading value of the Company's shares on the date of grant and use a Monte Carlo simulation model. As of November 30, 2018, there was $18.0 million of unrecognized compensation expense related to share-based payment arrangements. These costs are expected to be recognized over a weighted-average period of approximately four years. The Company has sufficient shares to satisfy expected share-based payment arrangements.

Earnings Per Share

6 Months Ended

Nov. 30, 2018

Earnings Per Share [Abstract]

Earnings Per Share

EARNINGS PER SHARE

Basic earnings per share is based on the weighted average number of common shares outstanding without consideration of potential common stock. Diluted earnings per share includes the dilutive effect of potential common stock consisting of stock options, restricted stock units and performance stock units, provided that the inclusion of such securities is not anti-dilutive. In periods with a net loss, stock options and restricted stock units are not included in the computation of diluted loss per share as the impact would be anti-dilutive.

The following table reconciles basic to diluted weighted-average shares outstanding for the three and six months ended November 30, 2018 and 2017 (in thousands):



	Three Months Ended		Six Months Ended
(in thousands)	Nov 30, 2018	Nov 30, 2017	Nov 30, 2018	Nov 30, 2017
Basic	37,500	37,066	37,411	36,983
Effect of dilutive securities	617	317	720	339
Diluted	38,117	37,383	38,131	37,322

Securities excluded as their inclusion would be anti-dilutive	2,384	1,124	2,354	1,095

Segment and Geographic Information

6 Months Ended

Nov. 30, 2018

Segment Reporting [Abstract]

Segment and Geographic Information

SEGMENT AND GEOGRAPHIC INFORMATION

The Company considers the business to be a single operating segment engaged in the development, manufacture and sale of medical devices for vascular access, peripheral vascular disease and oncology on a global basis. The Company's chief operating decision maker, the President and Chief Executive Officer (CEO), evaluates the various global product portfolios on a net sales basis. Executives reporting to the CEO include those responsible for commercial operations, manufacturing operations, regulatory and quality and certain corporate functions. The CEO evaluates profitability, investment and cash flow metrics on a consolidated worldwide basis due to shared infrastructure and resources.

The table below summarizes net sales by Global Business Unit:



	Three Months Ended				Six Months Ended
(in thousands)	Nov 30, 2018		Nov 30, 2017		Nov 30, 2018		Nov 30, 2017
Net sales
Vascular Interventions & Therapies	$	52,494	$	51,368	$	102,488	$	101,234
Vascular Access	23,723		22,574		47,513		45,812
Oncology	15,286		12,764		26,842		25,071
Total	$	91,503	$	86,706	$	176,843	$	172,117

The table below presents net sales by geographic area based on external customer location:



	Three Months Ended				Six Months Ended
(in thousands)	Nov 30, 2018		Nov 30, 2017		Nov 30, 2018		Nov 30, 2017
Net sales
United States	$	71,883	$	68,301	$	139,567	$	137,232
International	19,620		18,405		37,276		34,885
Total	$	91,503	$	86,706	$	176,843	$	172,117

Fair Value

6 Months Ended

Nov. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value

FAIR VALUE

On a recurring basis, the Company measures certain financial assets and financial liabilities at fair value based upon quoted market prices, where available. Where quoted market prices or other observable inputs are not available, the Company applies valuation techniques to estimate fair value. FASB ASC Topic 820, Fair Value Measurements and Disclosures, establishes a three-level valuation hierarchy for disclosure of fair value measurements. The categorization of financial assets and financial liabilities within the valuation hierarchy is based upon the lowest level of input that is significant to the measurement of fair value. The three levels of the hierarchy are defined as follows:


•	Level 1 - Inputs to the valuation methodology are quoted market prices for identical assets or liabilities.


•	Level 2 - Inputs to the valuation methodology are other observable inputs, including quoted market prices for similar assets or liabilities and market-corroborated inputs.


•	Level 3 - Inputs to the valuation methodology are unobservable inputs based on management’s best estimate of inputs market participants would use in pricing the asset or liability at the measurement date, including assumptions about risk.

The Company's financial instruments include cash and cash equivalents, marketable securities, accounts receivable, accounts payable and contingent consideration. The carrying amount of cash and cash equivalents, accounts receivable, and accounts payable approximates fair value due to the immediate or short-term maturities. The Company's recurring fair value measurements using significant unobservable inputs (Level 3) relate to the Company's marketable securities, which are comprised of auction rate securities, and contingent consideration.

The following tables provide information by level for assets and liabilities that are measured at fair value on a recurring basis as of November 30, 2018 and May 31, 2018:



	Fair Value Measurements using inputs considered as:						Fair Value at November 30, 2018
(in thousands)	Level 1		Level 2		Level 3
Financial Assets
Marketable securities	$	—	$	—	$	1,350	$	1,350
Total Financial Assets	$	—	$	—	$	1,350	$	1,350
Financial Liabilities
Contingent consideration for acquisition earn outs	$	—	$	—	$	26,518	$	26,518
Total Financial Liabilities	$	—	$	—	$	26,518	$	26,518

	Fair Value Measurements using inputs considered as:						Fair Value at May 31, 2018
(in thousands)	Level 1		Level 2		Level 3
Financial Assets
Short-term investments*	$	2,100	$	—	$	—	$	2,100
Marketable securities	—		—		1,317		1,317
Total Financial Assets	$	2,100	$	—	$	1,317	$	3,417
Financial Liabilities
Contingent consideration for acquisition earn outs	$	—	$	—	$	3,261	$	3,261
Total Financial Liabilities	$	—	$	—	$	3,261	$	3,261

*Included in cash and cash equivalents.

There were no transfers between Level 1, 2 and 3 for the three and six months ended November 30, 2018.

The table below presents the changes in fair value components of Level 3 instruments in the three and six months ended November 30, 2018:



	Three Months Ended November 30, 2018
	Financial Assets		Financial Liabilities
(in thousands)	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance, August 31, 2018	$	1,350	$	3,973
Contingent consideration liability recorded as the result of the acquisitions (Note 2)	—		22,301
Change in present value of contingent consideration (1)	—		244
Balance, November 30, 2018	$	1,350	$	26,518



	Six Months Ended November 30, 2018
	Financial Assets		Financial Liabilities
	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance, May 31, 2018	$	1,317	$	3,261
Contingent consideration liability recorded as the result of the acquisitions (Note 2)	—		25,101
Change in present value of contingent consideration (1)	—		256
Fair market value adjustments	33		—
Contingent consideration payments	—		(2,100		)
Balance, November 30, 2018	$	1,350	$	26,518

(1) Change in the fair value of contingent consideration is included in earnings and comprised of changes in estimated earn out payments based on projections of Company performance and amortization of the present value discount.

Short-term Investments

Short-term investments consist of highly liquid investments in municipal bonds that reset on a weekly basis and can be called at any point in time.

Marketable Securities

Marketable securities consist solely of an auction rate security. Assumptions associated with the auction rate security include the interest rate benchmarks, the probability of full repayment of the principal considering the credit quality and guarantees in place, and the rate of return required by investors to own such securities given the current liquidity risk.

Contingent Consideration for Acquisition Earn Outs

Some of the Company's business combinations involve the potential for the payment of future contingent consideration upon the achievement of certain product development milestones or various other performance conditions. Payment of the additional consideration is generally contingent on the acquired company reaching certain performance milestones, including attaining specified revenue levels or product development targets. Contingent consideration is recorded at the estimated fair value of the contingent payments on the acquisition date. The fair value of the contingent consideration is remeasured at the estimated fair value at each reporting period with the change in fair value recognized as income or expense within change in fair value of contingent consideration in the consolidated statements of income.

The Company measures the initial liability and remeasures the liability on a recurring basis using Level 3 inputs as defined under authoritative guidance for fair value measurements. The fair value is determined using a discounted cash flow model applied to projected net sales, using probabilities of achieving projected net sales and projected payment dates. Projected net sales are based on the Company's internal projections and extensive analysis of the target market and the sales potential.

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 liabilities include the following significant unobservable inputs as of November 30, 2018:



(in thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
Revenue based payments	$	17,842	Discounted cash flow	Discount rate	4% - 5%
				Probability of payment	66% - 100%
				Projected fiscal year of payment	2019 - 2023
Technical milestones	$	5,855	Estimated probability	Estimated probability	90%
				Projected year of payment	2020
Supplier default holdback	$	2,821	Estimated probability	Estimated probability	95%
				Projected fiscal year of payment	2019
Total	$	26,518

At November 30, 2018, the range of estimated potential undiscounted future contingent consideration that the Company expects to pay as a result of all completed acquisitions is approximately $31.1 million to $41.1 million. The milestones, including revenue projections and technical milestones, associated with the contingent consideration must be reached in future periods ranging from fiscal years 2019 to 2023 in order for the associated consideration to be paid.

- Definition

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.

+ References + Details

Marketable Securities

6 Months Ended

Nov. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

MARKETABLE SECURITIES

Marketable securities, which can be government agency bonds, auction rate investments or corporate commercial paper, are classified as “available-for-sale securities” and are reported at fair value, with unrealized gains and losses excluded from operations and reported as accumulated other comprehensive income (loss), net of related tax effects, in stockholders' equity. Cost is determined using the specific identification method. The Company holds an investment in an auction rate security that is high credit quality and generally achieved with municipal bond insurance. Sell orders for any security traded through an auction process could exceed bids and, in such cases, the auction fails and the Company may be unable to liquidate its position in the security in the near term. The Company has not participated in any recent auctions. As of November 30, 2018 and May 31, 2018, the Company had $1.4 million and $1.3 million, respectively, in investments in one auction rate security. The authorities are current in their interest payments on the security. The auction rate security will mature in 2029.

As of November 30, 2018 and May 31, 2018, marketable securities consisted of the following:



	November 30, 2018
(in thousands)	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities:
Government agency obligations	$	1,350	$	—	$	—	$	1,350
	$	1,350	$	—	$	—	$	1,350



	May 31, 2018
(in thousands)	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Government agency obligations	$	1,350	$	—	$	(33	)	$	1,317
	$	1,350	$	—	$	(33	)	$	1,317

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Nov. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Legal Proceedings The Company is involved in various legal proceedings, including commercial, intellectual property, product liability, and regulatory matters of a nature considered normal for its business. The Company accrues for amounts related to these matters if it is probable that a liability has been incurred, and an amount can be reasonably estimated. The Company discloses such matters when there is at least a reasonable possibility that a material loss may have been incurred. However, the Company cannot predict the outcome of any litigation or the potential for future litigation. C.R. Bard, Inc. v. AngioDynamics, Inc. On January 11, 2012, C.R. Bard, Inc. (“Bard”) filed a suit in the United States District Court of Utah claiming certain of the Company's implantable port products infringe on three U.S. patents held by Bard (the "Utah Action"). Bard’s Complaint sought unspecified damages and other relief. The Company filed petitions for reexamination in the US Patent and Trademark Office ("USPTO") seeking to invalidate all three patents asserted by Bard in the litigation. The Company's petitions were granted and 40 of Bard's 41 patent claims were rejected and, following further proceedings, the Patent Office issued a Final Rejection of all 40000 claims subject to reexamination. Thereafter, Bard filed appeals to the USPTO Board of Appeals and Interferences for all three reexaminations. The Patent Office issued decisions in all three appeals. In one (issued on March 11, 2016 for US Patent No. 7,785,302), the rejections of six of the ten claims under reexamination were affirmed, but were reversed on four of the ten claims. In the second (issued on March 24, 2016 for U.S. Patent No. 7,959,615), the rejections of eight of the ten claims under reexamination were affirmed but the rejections of the other two of the ten claims were reversed. In the third (issued on March 29 for U.S. Patent No. 7,947.022) the rejections of all twenty claims under reexamination were affirmed. Thereafter, Bard filed Requests for Rehearing in all three reexamination appeals and the Company filed Requests for Rehearing in two of the reexamination appeals (the ‘302 and ‘615 patent reexaminations). The PTO denied all three Rehearing Requests - on February 1, 2017 for the ‘302; on February 17, 2017 for the ‘022; and on February 21, 2017 for the ‘615, but modified its characterization of one prior art reference for the ‘302 and ‘022 decisions. Bard filed a Notice of Appeal to the Federal Circuit Court of Appeals in all three reexams and the Company filed Cross-Appeals for the ‘302 and the ‘615 reexams. The parties have completed the process of filing the various appellate briefs. MedComp also filed an Amicus Brief in support of the Company on November 22, 2017. An oral hearing in the case was held on September 5, 2018 and the court rendered its decision on September 28, 2018. The Federal Circuit affirmed that claims 1-5 and 10 of the ‘615 patent were invalid. The Federal Circuit also affirmed the Board’s decision that claims 6-7 of the 615 patent and 1-4 of the 302 patent were valid in light of the asserted prior art references. The Federal Circuit reversed the PTAB’s claim construction ruling and remanded for consideration of obviousness for the remaining claims under the new claim construction ruling and further findings with respect to whether one of the asserted references qualified as a printed publication. The parties are awaiting further instruction for proceeding from the USPTO in light of the decision. Meanwhile, the Utah Action has been stayed pending final resolution of the USPTO process. On July 12, 2017, Bard assigned the asserted patents to Bard Peripheral Vascular, Inc. (“BPV”) which was added as Co-Appellant before the Federal Circuit and as a co-Plaintiff in the Utah action. The Company believes these claims are without merit and intends to defend them vigorously. The Company has 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. On March 10, 2015, C.R. Bard, Inc. ("Bard") and Bard Peripheral Vascular, Inc. (“BPV”) filed suit in the United States District Court for the District of Delaware claiming certain of the Company's implantable port products infringe on three U.S. patents held by Bard (the “Delaware Action"). Bard's complaint seeks unspecified damages and other relief. The patents asserted in the Delaware Action are different than those asserted in the Utah Action. On June 1, 2015, the Company filed two motions in response to Bard’s Complaint - one sought transfer to the District of Utah where the Utah Action is currently pending, and the other sought dismissal of the entire complaint on grounds that none of the claims in the asserted patents is directed to patent eligible subject matter under Section 101 of the Patent Statute and in light of recent authority from the U. S. Supreme Court. On January 12, 2016, the Court issued a decision denying both motions. A Markman hearing was held on March 10, 2017 and the Court issued its Claim Construction Order on May 19, 2017. On May 19, 2017, Bard served its Final Infringement Contentions and on June 2, 2017, the Company served its Final Invalidity Contentions. On October 20, 2017, the scheduling order for the case was amended to, among other things, set a trial date commencing July 23, 2018. The parties completed Expert Discovery in January 2018. The parties completed briefing on their respective case dispositive motions on April 27, 2018. On June 26, 2018, the Court denied all case dispositive motions, ruling that issues of material fact remained in dispute. On July 9, 2018, the Court continued the trial until March 2019. Meanwhile, a further Markman hearing is scheduled for January 9, 2019 to resolve two claim construction issues which are needed before the case goes to trial. The Company believes these claims are without merit and intends to defend them vigorously. The Company has 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. AngioDynamics, Inc. v. C.R. Bard, Inc. On May 30, 2017, the Company commenced an action in the United States District Court for the Northern District of New York entitled AngioDynamics, Inc. v. C.R. Bard, Inc. and Bard Access Systems, Inc. (“Bard”). In this action, the Company alleges that Bard has illegally tied the sales of its tip location systems to the sales of its PICCs. The Company alleges that this practice violates the federal antitrust laws and has had, and continues to have, an anti-competitive effect in the market for PICCs. The Company seeks both monetary damages and injunctive relief. Bard moved to dismiss on September 8, 2017. On August 6, 2018 the court denied Bard’s motion in its entirety. Governmental Investigations In June 2014, the Company received a subpoena from the U.S. Department of Justice (the “DOJ”) requesting documents in relation to a criminal and civil investigation the DOJ is conducting regarding BTG International, Inc.’s LC Bead® product beginning in 2003. RITA Medical Systems and AngioDynamics, Inc., after its acquisition of RITA, was the exclusive distributor of LC Beads in the United States from 2006 through December 31, 2011. The Company fully cooperated with this investigation. In April 2015, the Company received a subpoena from the DOJ requesting documents in relation to a criminal and civil investigation the DOJ is conducting regarding purported promotion of certain of the Company's VenaCure EVLT products for un-cleared indications. The Company fully cooperated with this investigation. As of May 31, 2017, the Company accrued $12.5 million for these matters and in August 2017 the Company agreed in principle with the government to resolve these matters for approximately $12.5 million plus interest. In July 2018, the Company executed the final settlements and paid approximately $12.7 million.

Acquisition, Restructuring and Other Items, Net

6 Months Ended

Nov. 30, 2018

Restructuring and Related Activities [Abstract]

Acquisition, Restructuring and Other Items, Net

ACQUISITION, RESTRUCTURING, AND OTHER ITEMS, NET

Acquisition, Restructuring and Other Items

For the three and six months ended November 30, 2018 and 2017 acquisition, restructuring and other items, net consisted of:



	Three months ended				Six Months Ended
(in thousands)	Nov 30, 2018		Nov 30, 2017		Nov 30, 2018		Nov 30, 2017
Legal*	$	867	$	2,236	$	3,747	$	3,848
Mergers and acquisitions	1,543		980		2,862		1,132
Restructuring	128		1,420		258		2,636
Other	190		130		283		139
Total	$	2,728	$	4,766	$	7,150	$	7,755

*Legal expenses related to litigation that is outside the normal course of business.

Restructuring

The Company evaluates its performance and looks for opportunities to improve the overall operations of the Company on an ongoing basis. As a result of this evaluation, certain restructuring initiatives are taken to enhance the Company’s overall operations.

Operational Consolidation

On February 1, 2017, the Company announced to employees an operational consolidation plan (the “plan”) to consolidate its manufacturing facilities in Manchester, GA and Denmead, UK into the Glens Falls and Queensbury, NY facilities. This plan will streamline and optimize the manufacturing functions into one centralized location increasing the utilization of the Glens Falls and Queensbury facilities, optimizing inventory and reducing cost of goods sold through savings in overhead expenses and direct labor. The restructuring activities associated with the plan were completed in the fourth quarter of fiscal year 2018 with immaterial costs to be incurred in fiscal year 2019.

The Company recorded restructuring charges related to the plan during the three and six months ended November 30, 2018 of $0.1 million and $0.3 million, respectively. During the three and six months ended November 30, 2017, the Company recorded $1.4 million and $2.6 million, respectively. Total restructuring charges recorded to date are $6.2 million. Termination benefits are only earned if an employee stays until their termination date; therefore, the expenses related to termination benefits are being recorded ratably over the service period.

The table below presents the restructuring reserve for the three and six months ended November 30, 2018:



	Three Months Ended November 30, 2018
	Termination Benefits			Plant Consolidation			Regulatory Filings			Contract Cancellation Costs		Total
(in thousands)
Balance at August 31, 2018	$	317		$	17		$	14		$	200	$	548
Charges	—			126			2			—		128
Cash payments	(216		)	(143		)	(16		)	—		(375		)
Balance at November 30, 2018	$	101		$	—		$	—		$	200	$	301



	Six Months Ended November 30, 2018
	Termination Benefits			Plant Consolidation			Regulatory Filings			Contract Cancellation Costs		Total
(in thousands)
Balance at May 31, 2018	$	838		$	21		$	12		$	200	$	1,071
Charges	—			236			22			—		258
Cash payments	(737		)	(257		)	(34		)	—		(1,028		)
Balance at November 30, 2018	$	101		$	—		$	—		$	200	$	301

The Company’s restructuring liability of $0.3 million is mainly comprised of accruals for termination benefits and contract cancellation costs which are included in accrued expenses on the consolidated balance sheet.

Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Nov. 30, 2018

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

Changes in each component of accumulated other comprehensive income (loss), net of tax, are as follows for the three and six months ended November 30, 2018:



	Three months ended November 30, 2018
(in thousands)	Foreign currency translation gain (loss)			Unrealized gain (loss) on marketable securities		Total
Balance at August 31, 2018	$	(1,160	)	$	116	$	(1,044	)
Other comprehensive loss before reclassifications, net of tax	(206		)	—		(206		)
Amounts reclassified from accumulated other comprehensive income	—			—		—
Net other comprehensive loss	$	(206	)	$	—	$	(206	)
Balance at November 30, 2018	$	(1,366	)	$	116	$	(1,250	)



	Six months ended November 30, 2018
(in thousands)	Foreign currency translation gain (loss)			Unrealized gain (loss) on marketable securities		Total
Balance at May 31, 2018	$	(1,035	)	$	83	$	(952	)
Other comprehensive income (loss) before reclassifications, net of tax	(331		)	33		(298		)
Amounts reclassified from accumulated other comprehensive income	—			—		—
Net other comprehensive income (loss)	$	(331	)	$	33	$	(298	)
Balance at November 30, 2018	$	(1,366	)	$	116	$	(1,250	)

Recently Issued Accounting Pronouncements

6 Months Ended

Nov. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Recently Issued Accounting Pronouncements

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

The following table provides a description of recent accounting pronouncements that may have a material effect on the Company's consolidated financial statements:



Recently Issued Accounting Pronouncements - Adopted
Standard	Description	Date Adopted	Effect on the Consolidated Financial Statements
ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09)	This ASU provides a single, comprehensive accounting model for revenues arising from contracts with customers that supersedes most of the existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that an entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under existing revenue recognition guidance.	June 1, 2018	See Note 3, "Revenue from Contracts with Customers" for the required disclosures related to the impact of adopting this standard. The adoption of this standard did not have a material impact on the Company’s consolidated balance sheets and statements of operations.
ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15)	This ASU identifies how certain cash receipts and cash payments are presented and classified in the Statement of Cash Flows under Topic 230.	June 1, 2018	This adoption did not have an impact on the Company's financial statements.



Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted
Standard	Description	Effective Date	Effect on the Consolidated Financial Statements
ASU 2016-02, Leases (Topic 842)	This ASU increases transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities.	June 1, 2019	The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements.

Recently Issued Accounting Pronouncements (Policies)

6 Months Ended

Nov. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Revenue from Contracts with Customers

Contracts and Performance Obligations

Transaction Price and Allocation to Performance Obligations

Revenue Recognition

Sales, value add, and other taxes collected on behalf of third parties are excluded from revenue.

Variable Consideration

Contract Balances with Customers

Adoption of ASC Topic 606 "Revenue from Contracts with Customers"

Revenue Recognition

Recently Issued Accounting Pronouncements

RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

The following table provides a description of recent accounting pronouncements that may have a material effect on the Company's consolidated financial statements:



Recently Issued Accounting Pronouncements - Adopted
Standard	Description	Date Adopted	Effect on the Consolidated Financial Statements
ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09)	This ASU provides a single, comprehensive accounting model for revenues arising from contracts with customers that supersedes most of the existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that an entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under existing revenue recognition guidance.	June 1, 2018	See Note 3, "Revenue from Contracts with Customers" for the required disclosures related to the impact of adopting this standard. The adoption of this standard did not have a material impact on the Company’s consolidated balance sheets and statements of operations.
ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15)	This ASU identifies how certain cash receipts and cash payments are presented and classified in the Statement of Cash Flows under Topic 230.	June 1, 2018	This adoption did not have an impact on the Company's financial statements.



Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted
Standard	Description	Effective Date	Effect on the Consolidated Financial Statements
ASU 2016-02, Leases (Topic 842)	This ASU increases transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities.	June 1, 2019	The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements.

Acquisitions (Tables)

6 Months Ended

Nov. 30, 2018

Business Combinations [Abstract]

Preliminary Aggregate Purchase Price

The following table summarizes the preliminary aggregate purchase price allocated to the net assets acquired:



(in thousands)	Sep 21, 2018
Assets acquired
Accounts receivable	$	900
Inventory	732
Prepaid and other current assets	98
Property, plant and equipment	133
Intangible assets:
RadiaDyne trademark	400
OarTrac trademark	200
RadiaDyne legacy product technology	1,500
OarTrac product technology	16,300
RadiaDyne customer relationships	3,700
Goodwill	51,482
Total assets acquired	$	75,445
Liabilities assumed
Accounts payable	$	352
Accrued expenses	106
Total liabilities assumed	$	458
Net assets acquired	$	74,987

The following table summarizes the

preliminary aggregate purchase price allocated to the net assets acquired:



	Preliminary allocation		Adjustments (1)			Revised allocation
(in thousands)
Inventory	$	50	$	—		$	50
Property, plant and equipment	10		—			10
Intangible assets:
BioSentry trademark	1,700		800			2,500
BioSentry product technology	13,800		7,100			20,900
Customer relationships	2,500		(300		)	2,200
Goodwill	21,740		(7,600		)	14,140
Net assets acquired	$	39,800	$	—		$	39,800

Revenue from Contracts with Customers (Tables)

6 Months Ended

Nov. 30, 2018

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following tables summarize net product revenue by Global Business Unit ("GBU") and geography for the three and six months ended November 30, 2018:



	Three months ended November 30, 2018
(in thousands)	United States		International		Total
Net sales
Vascular Interventions & Therapies	$	42,826	$	9,668	$	52,494
Vascular Access	20,081		3,642		23,723
Oncology	8,976		6,310		15,286
Total	$	71,883	$	19,620	$	91,503



	Six months ended November 30, 2018
(in thousands)	United States		International		Total
Net sales
Vascular Interventions & Therapies	$	84,864	$	17,624	$	102,488
Vascular Access	40,528		6,985		47,513
Oncology	14,175		12,667		26,842
Total	$	139,567	$	37,276	$	176,843

Contract Balances with Customers

The following table presents changes in the Company’s receivables, contract assets and contract liabilities with customers:



	Nov 30, 2018		May 31, 2018
(in thousands)
Receivables	$	43,374	$	39,401
Contract assets	$	—	$	—
Contract liabilities	$	1,201	$	1,203

Inventories (Tables)

6 Months Ended

Nov. 30, 2018

Inventory Disclosure [Abstract]

Schedule of Inventories

Inventories are stated at lower of cost and net realizable value (using the first-in, first-out method). Inventories consisted of the following:



	Nov 30, 2018		May 31, 2018
(in thousands)
Raw materials	$	20,282	$	18,678
Work in process	10,125		10,808
Finished goods	20,230		19,430
Inventories	$	50,637	$	48,916

Goodwill and Intangible Assets (Tables)

6 Months Ended

Nov. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The changes in the carrying amount of goodwill for the six months ended November 30, 2018 were as follows:



(in thousands)
Goodwill balance at May 31, 2018	$	361,252
Additions for BioSentry acquisition (Note 2)	14,140
Additions for RadiaDyne acquisition (Note 2)	51,482
Goodwill balance at November 30, 2018	$	426,874

Intangible Assets

Intangible assets consisted of the following:



	Nov 30, 2018
	Gross carrying value		Accumulated amortization			Net carrying value
(in thousands)
Product technologies	$	185,872	$	(74,415	)	$	111,457
Customer relationships	62,284		(25,252		)	37,032
Trademarks	31,500		(13,085		)	18,415
Licenses	5,752		(4,697		)	1,055
Distributor relationships	1,250		(503		)	747
	$	286,658	$	(117,952	)	$	168,706



	May 31, 2018
	Gross carrying value		Accumulated amortization			Net carrying value
(in thousands)
Product technologies	$	147,175	$	(68,880	)	$	78,295
Customer relationships	56,428		(23,237		)	33,191
Trademarks	28,400		(11,809		)	16,591
Licenses	5,752		(4,357		)	1,395
Distributor relationships	1,250		(412		)	838
	$	239,005	$	(108,695	)	$	130,310

Schedule of Future Amortization Expense

Expected future amortization expense related to the intangible assets is as follows:



(in thousands)
Remainder of 2019	$	10,277
2020	18,963
2021	17,804
2022	16,919
2023	16,468
2024 and thereafter	88,275
	$	168,706

Segment and Geographic Information (Tables)

6 Months Ended

Nov. 30, 2018

Segment Reporting [Abstract]

Summary of Net Sales by Product Category

The table below summarizes net sales by Global Business Unit:



	Three Months Ended				Six Months Ended
(in thousands)	Nov 30, 2018		Nov 30, 2017		Nov 30, 2018		Nov 30, 2017
Net sales
Vascular Interventions & Therapies	$	52,494	$	51,368	$	102,488	$	101,234
Vascular Access	23,723		22,574		47,513		45,812
Oncology	15,286		12,764		26,842		25,071
Total	$	91,503	$	86,706	$	176,843	$	172,117

Summary of Net Sales by Geographic Area

The table below presents net sales by geographic area based on external customer location:



	Three Months Ended				Six Months Ended
(in thousands)	Nov 30, 2018		Nov 30, 2017		Nov 30, 2018		Nov 30, 2017
Net sales
United States	$	71,883	$	68,301	$	139,567	$	137,232
International	19,620		18,405		37,276		34,885
Total	$	91,503	$	86,706	$	176,843	$	172,117

Fair Value (Tables)

6 Months Ended

Nov. 30, 2018

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 as of November 30, 2018 and May 31, 2018:



	Fair Value Measurements using inputs considered as:						Fair Value at November 30, 2018
(in thousands)	Level 1		Level 2		Level 3
Financial Assets
Marketable securities	$	—	$	—	$	1,350	$	1,350
Total Financial Assets	$	—	$	—	$	1,350	$	1,350
Financial Liabilities
Contingent consideration for acquisition earn outs	$	—	$	—	$	26,518	$	26,518
Total Financial Liabilities	$	—	$	—	$	26,518	$	26,518

	Fair Value Measurements using inputs considered as:						Fair Value at May 31, 2018
(in thousands)	Level 1		Level 2		Level 3
Financial Assets
Short-term investments*	$	2,100	$	—	$	—	$	2,100
Marketable securities	—		—		1,317		1,317
Total Financial Assets	$	2,100	$	—	$	1,317	$	3,417
Financial Liabilities
Contingent consideration for acquisition earn outs	$	—	$	—	$	3,261	$	3,261
Total Financial Liabilities	$	—	$	—	$	3,261	$	3,261

*Included in cash and cash equivalents.

Fair Value Measurements Using Significant Unobservable Inputs

The table below presents the changes in fair value components of Level 3 instruments in the three and six months ended November 30, 2018:



	Three Months Ended November 30, 2018
	Financial Assets		Financial Liabilities
(in thousands)	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance, August 31, 2018	$	1,350	$	3,973
Contingent consideration liability recorded as the result of the acquisitions (Note 2)	—		22,301
Change in present value of contingent consideration (1)	—		244
Balance, November 30, 2018	$	1,350	$	26,518



	Six Months Ended November 30, 2018
	Financial Assets		Financial Liabilities
	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Balance, May 31, 2018	$	1,317	$	3,261
Contingent consideration liability recorded as the result of the acquisitions (Note 2)	—		25,101
Change in present value of contingent consideration (1)	—		256
Fair market value adjustments	33		—
Contingent consideration payments	—		(2,100		)
Balance, November 30, 2018	$	1,350	$	26,518

Summary Showing the Recurring Fair Value Measurements of the Contingent Consideration Liability

The recurring Level 3 fair value measurements of the contingent consideration liabilities include the following significant unobservable inputs as of November 30, 2018:



(in thousands)	Fair Value		Valuation Technique	Unobservable Input	Range
Revenue based payments	$	17,842	Discounted cash flow	Discount rate	4% - 5%
				Probability of payment	66% - 100%
				Projected fiscal year of payment	2019 - 2023
Technical milestones	$	5,855	Estimated probability	Estimated probability	90%
				Projected year of payment	2020
Supplier default holdback	$	2,821	Estimated probability	Estimated probability	95%
				Projected fiscal year of payment	2019
Total	$	26,518

Marketable Securities (Tables)

6 Months Ended

Nov. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

As of November 30, 2018 and May 31, 2018, marketable securities consisted of the following:



	November 30, 2018
(in thousands)	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale securities:
Government agency obligations	$	1,350	$	—	$	—	$	1,350
	$	1,350	$	—	$	—	$	1,350



	May 31, 2018
(in thousands)	Amortized cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
Government agency obligations	$	1,350	$	—	$	(33	)	$	1,317
	$	1,350	$	—	$	(33	)	$	1,317

Acquisition, Restructuring and Other Items, Net (Tables)

6 Months Ended

Nov. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

The table below presents the restructuring reserve for the three and six months ended November 30, 2018:



	Three Months Ended November 30, 2018
	Termination Benefits			Plant Consolidation			Regulatory Filings			Contract Cancellation Costs		Total
(in thousands)
Balance at August 31, 2018	$	317		$	17		$	14		$	200	$	548
Charges	—			126			2			—		128
Cash payments	(216		)	(143		)	(16		)	—		(375		)
Balance at November 30, 2018	$	101		$	—		$	—		$	200	$	301



	Six Months Ended November 30, 2018
	Termination Benefits			Plant Consolidation			Regulatory Filings			Contract Cancellation Costs		Total
(in thousands)
Balance at May 31, 2018	$	838		$	21		$	12		$	200	$	1,071
Charges	—			236			22			—		258
Cash payments	(737		)	(257		)	(34		)	—		(1,028		)
Balance at November 30, 2018	$	101		$	—		$	—		$	200	$	301

For the three and six months ended November 30, 2018 and 2017 acquisition, restructuring and other items, net consisted of:



	Three months ended				Six Months Ended
(in thousands)	Nov 30, 2018		Nov 30, 2017		Nov 30, 2018		Nov 30, 2017
Legal*	$	867	$	2,236	$	3,747	$	3,848
Mergers and acquisitions	1,543		980		2,862		1,132
Restructuring	128		1,420		258		2,636
Other	190		130		283		139
Total	$	2,728	$	4,766	$	7,150	$	7,755

*Legal expenses related to litigation that is outside the normal course of business.

Accumulated Other Comprehensive Income (Loss) (Tables)

6 Months Ended

Nov. 30, 2018

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in each component of accumulated other comprehensive income (loss), net of tax, are as follows for the three and six months ended November 30, 2018:



	Three months ended November 30, 2018
(in thousands)	Foreign currency translation gain (loss)			Unrealized gain (loss) on marketable securities		Total
Balance at August 31, 2018	$	(1,160	)	$	116	$	(1,044	)
Other comprehensive loss before reclassifications, net of tax	(206		)	—		(206		)
Amounts reclassified from accumulated other comprehensive income	—			—		—
Net other comprehensive loss	$	(206	)	$	—	$	(206	)
Balance at November 30, 2018	$	(1,366	)	$	116	$	(1,250	)



	Six months ended November 30, 2018
(in thousands)	Foreign currency translation gain (loss)			Unrealized gain (loss) on marketable securities		Total
Balance at May 31, 2018	$	(1,035	)	$	83	$	(952	)
Other comprehensive income (loss) before reclassifications, net of tax	(331		)	33		(298		)
Amounts reclassified from accumulated other comprehensive income	—			—		—
Net other comprehensive income (loss)	$	(331	)	$	33	$	(298	)
Balance at November 30, 2018	$	(1,366	)	$	116	$	(1,250	)

Recently Issued Accounting Pronouncements (Tables)

6 Months Ended

Nov. 30, 2018

Accounting Changes and Error Corrections [Abstract]

Recently Issued Accounting Pronouncements

The following table provides a description of recent accounting pronouncements that may have a material effect on the Company's consolidated financial statements:



Recently Issued Accounting Pronouncements - Adopted
Standard	Description	Date Adopted	Effect on the Consolidated Financial Statements
ASU No. 2014-09, Revenue from Contracts with Customers (ASU 2014-09)	This ASU provides a single, comprehensive accounting model for revenues arising from contracts with customers that supersedes most of the existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that an entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under existing revenue recognition guidance.	June 1, 2018	See Note 3, "Revenue from Contracts with Customers" for the required disclosures related to the impact of adopting this standard. The adoption of this standard did not have a material impact on the Company’s consolidated balance sheets and statements of operations.
ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (ASU 2016-15)	This ASU identifies how certain cash receipts and cash payments are presented and classified in the Statement of Cash Flows under Topic 230.	June 1, 2018	This adoption did not have an impact on the Company's financial statements.



Recently Issued Accounting Pronouncements - Not Yet Applicable or Adopted
Standard	Description	Effective Date	Effect on the Consolidated Financial Statements
ASU 2016-02, Leases (Topic 842)	This ASU increases transparency and comparability among organizations by recognizing lease assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. For leases with a term of twelve months or less, a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize lease assets and liabilities.	June 1, 2019	The Company is currently in the process of evaluating the impact of this ASU on its consolidated financial statements.

Acquisitions - Narrative (Details) - USD ($) $ in Thousands			3 Months Ended		6 Months Ended		12 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Thousands	Sep. 21, 2018	Aug. 14, 2018	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017	May 31, 2017	May 31, 2018
Business Acquisition [Line Items]
Contingent consideration, liabilities			$ 26,518		$ 26,518			$ 3,261
Other long-term liabilities			5,221		5,221			621
Accrued liabilities			21,272		21,272			$ 34,426
Acquisition, restructuring and other items, net			$ 2,728	$ 4,766	$ 7,150	$ 7,755
Minimum
Business Acquisition [Line Items]
Useful life					2 years
Maximum
Business Acquisition [Line Items]
Useful life							18 years
RadiaDyne
Business Acquisition [Line Items]
Aggregate purchase price	$ 75,000
Payments to acquire business	47,900
Contingent consideration, liabilities	22,300
Other long-term liabilities	4,600
Accrued liabilities	$ 200
Acquisition, restructuring and other items, net					$ 1,600
RadiaDyne \| Customer relationships
Business Acquisition [Line Items]
Useful life	15 years
RadiaDyne \| Minimum \| Trademark
Business Acquisition [Line Items]
Useful life	5 years
RadiaDyne \| Minimum \| Product technology
Business Acquisition [Line Items]
Useful life	7 years
RadiaDyne \| Maximum \| Trademark
Business Acquisition [Line Items]
Useful life	7 years
RadiaDyne \| Maximum \| Product technology
Business Acquisition [Line Items]
Useful life	10 years
RadiaDyne \| Revenue milestones
Business Acquisition [Line Items]
Contingent consideration, liabilities	$ 16,500
RadiaDyne \| Technical milestones
Business Acquisition [Line Items]
Contingent consideration, liabilities	$ 5,800
BioSentry
Business Acquisition [Line Items]
Aggregate purchase price		$ 39,800
Payments to acquire business		37,000
Contingent consideration, liabilities		$ 2,800
Acquisition related costs					$ 1,000
BioSentry \| Trademark
Business Acquisition [Line Items]
Useful life		15 years
BioSentry \| Customer relationships
Business Acquisition [Line Items]
Useful life		10 years

Acquisitions (Details) - USD ($) $ in Thousands	4 Months Ended
Acquisitions (Details) - USD ($) $ in Thousands	Nov. 30, 2018	Sep. 21, 2018	Aug. 14, 2018	May 31, 2018
Assets acquired
Goodwill	$ 426,874			$ 361,252
RadiaDyne
Assets acquired
Receivables		$ 900
Inventory		732
Prepaid and other current assets		98
Property, plant and equipment		133
Goodwill		51,482
Total assets acquired		75,445
Liabilities assumed
Accounts payable		352
Accrued expenses		106
Total liabilities assumed		458
Net assets acquired		74,987
RadiaDyne \| RadiaDyne trademark
Assets acquired
Intangible assets		400
RadiaDyne \| OarTrac trademark
Assets acquired
Intangible assets		200
RadiaDyne \| RadiaDyne legacy product technology
Assets acquired
Intangible assets		1,500
RadiaDyne \| OarTrac product technology
Assets acquired
Intangible assets		16,300
RadiaDyne \| Customer relationships
Assets acquired
Intangible assets		$ 3,700
BioSentry
Assets acquired
Inventory	50		$ 50
Adjustments, inventory	0
Property, plant and equipment	10		10
Adjustments, property, plant and equipement	0
Adjustments, intangible assets	(7,600)
Goodwill	14,140		21,740
Liabilities assumed
Net assets acquired	39,800		39,800
Adjustments, net assets acquired	0
BioSentry \| Trademark
Assets acquired
Intangible assets	2,500		1,700
Adjustments, intangible assets	800
BioSentry \| Product technology
Assets acquired
Intangible assets	20,900		13,800
Adjustments, intangible assets	7,100
BioSentry \| Customer relationships
Assets acquired
Intangible assets	2,200		$ 2,500
Adjustments, intangible assets	$ (300)

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 91,503	$ 86,706	$ 176,843	$ 172,117
United States
Disaggregation of Revenue [Line Items]
Net sales	71,883	68,301	139,567	137,232
International
Disaggregation of Revenue [Line Items]
Net sales	19,620	18,405	37,276	34,885
Vascular Interventions & Therapies
Disaggregation of Revenue [Line Items]
Net sales	52,494	51,368	102,488	101,234
Vascular Interventions & Therapies \| United States
Disaggregation of Revenue [Line Items]
Net sales	42,826		84,864
Vascular Interventions & Therapies \| International
Disaggregation of Revenue [Line Items]
Net sales	9,668		17,624
Vascular Access
Disaggregation of Revenue [Line Items]
Net sales	23,723	22,574	47,513	45,812
Vascular Access \| United States
Disaggregation of Revenue [Line Items]
Net sales	20,081		40,528
Vascular Access \| International
Disaggregation of Revenue [Line Items]
Net sales	3,642		6,985
Oncology
Disaggregation of Revenue [Line Items]
Net sales	15,286	$ 12,764	26,842	$ 25,071
Oncology \| United States
Disaggregation of Revenue [Line Items]
Net sales	8,976		14,175
Oncology \| International
Disaggregation of Revenue [Line Items]
Net sales	$ 6,310		$ 12,667

Revenue from Contracts with Customers - Narrative (Details) $ in Millions	6 Months Ended
	Nov. 30, 2018 USD ($)
Disaggregation of Revenue [Line Items]
Days after purchase after which pre-approval is required for product return	30 days
Restocking charge (as percent)	20.00%
Minimum remaining period prior to product expiration	12 months
Revenue recognized from contract liability balances in respective periods	$ 0.2
Additions to contract liabilities	$ 0.2
Minimum
Disaggregation of Revenue [Line Items]
Payment term	30 days
Maximum
Disaggregation of Revenue [Line Items]
Payment term	90 days

Revenue from Contracts with Customers - Contract Balances with Customers (Details) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Revenue from Contract with Customer [Abstract]
Receivables	$ 43,374	$ 39,401
Contract assets	0	0
Contract liabilities	$ 1,201	$ 1,203

Inventories - Schedule of Inventories (Detail) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Inventory Disclosure [Abstract]
Raw materials	$ 20,282	$ 18,678
Work in process	10,125	10,808
Finished goods	20,230	19,430
Inventories	$ 50,637	$ 48,916

Inventories - Narrative (Detail) - USD ($) $ in Millions	3 Months Ended
Inventories - Narrative (Detail) - USD ($) $ in Millions	Nov. 30, 2017	Nov. 30, 2018	May 31, 2018
Inventory [Line Items]
Inventory valuation reserves		$ 5.0	$ 6.1
Inventory write-down	$ 0.7
Acculis Inventory
Inventory [Line Items]
Inventory valuation reserves		$ 0.4	$ 1.6

Goodwill and Intangible Assets - Narrative (Detail)		3 Months Ended		6 Months Ended		12 Months Ended
Goodwill and Intangible Assets - Narrative (Detail)	Dec. 31, 2017 USD ($)	Nov. 30, 2018 USD ($)	Nov. 30, 2017 USD ($)	Nov. 30, 2018 USD ($) segment	Nov. 30, 2017 USD ($)	May 31, 2017
Finite-Lived Intangible Assets [Line Items]
Number of reporting units \| segment				1
Goodwill impairment	$ 0
Amortization of intangibles		$ 5,188,000	$ 4,146,000	$ 9,304,000	$ 8,242,000
Document Period End Date				Nov. 30, 2018
Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets other than goodwill				2 years
Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated useful life of intangible assets other than goodwill						18 years

Goodwill and Intangible Assets - Goodwill (Details) $ in Thousands	6 Months Ended
	Nov. 30, 2018 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 361,252
Goodwill, ending balance	426,874
BioSentry
Goodwill [Roll Forward]
Additions for acquisition (Note 2)	14,140
Goodwill, ending balance	14,140
RadiaDyne
Goodwill [Roll Forward]
Additions for acquisition (Note 2)	$ 51,482

Goodwill and Intangible Assets - Intangible Assets (Detail) - USD ($) $ in Thousands	6 Months Ended
	Nov. 30, 2018	May 31, 2018
Finite-Lived Intangible Assets [Line Items]
Document Period End Date	Nov. 30, 2018
Gross carrying value, finite intangible items	$ 286,658	$ 239,005
Accumulated amortization	(117,952)	(108,695)
Net carrying value, finite intangible items	168,706	130,310
Product technologies
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	185,872	147,175
Accumulated amortization	(74,415)	(68,880)
Net carrying value, finite intangible items	111,457	78,295
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	62,284	56,428
Accumulated amortization	(25,252)	(23,237)
Net carrying value, finite intangible items	37,032	33,191
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	31,500	28,400
Accumulated amortization	(13,085)	(11,809)
Net carrying value, finite intangible items	18,415	16,591
Licenses
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	5,752	5,752
Accumulated amortization	(4,697)	(4,357)
Net carrying value, finite intangible items	1,055	1,395
Distributor relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value, finite intangible items	1,250	1,250
Accumulated amortization	(503)	(412)
Net carrying value, finite intangible items	$ 747	$ 838

Goodwill and Intangible Assets - Expected Future Amortization Expense (Detail) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2019	$ 10,277
2020	18,963
2021	17,804
2022	16,919
2023	16,468
2024 and thereafter	88,275
Net carrying value, finite intangible items	$ 168,706	$ 130,310

Accrued Liabilities - Summary of Accrued Liabilities (Detail) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Other Liabilities Disclosure [Abstract]
Payroll and related expenses	$ 9,624	$ 10,235
Royalties	1,522	1,537
Accrued severance	1,092	1,940
Sales and franchise taxes	1,165	683
Outside services	1,357	2,396
Litigation matters	0	12,500
Other	6,512	5,135
Total	$ 21,272	$ 34,426

Long Term Debt - Narrative (Detail) - USD ($)		6 Months Ended
Long Term Debt - Narrative (Detail) - USD ($)	Nov. 07, 2016	Nov. 30, 2018	Nov. 30, 2017
Debt Instrument [Line Items]
Proceeds from issuance of and borrowings on long-term debt		$ 55,000,000	$ 0
Repayments of former credit agreement		$ 2,500,000	$ 2,500,000
Credit Facility \| JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association
Debt Instrument [Line Items]
Stated interest rate		3.80%
Credit Facility \| JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association \| Former Credit Agreement
Debt Instrument [Line Items]
Repayments of former credit agreement	$ 116,500,000
Credit Facility \| JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association \| Term Loan
Debt Instrument [Line Items]
Line of credit	100,000,000.0
Proceeds from issuance of and borrowings on long-term debt	100,000,000.0
Credit Facility \| JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association \| Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit	150,000,000.0
Proceeds from issuance of and borrowings on long-term debt	16,500,000
Credit Facility \| JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association \| Letters of Credit
Debt Instrument [Line Items]
Line of credit	20,000,000.0
Credit Facility \| JPMorgan Chase Bank, N.A., Bank of America, N.A., Keybank National Association \| Swingline Loan
Debt Instrument [Line Items]
Line of credit	$ 5,000,000.0

Long Term Debt - Debt Outstanding (Detail) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Debt Instrument [Line Items]
Total debt	$ 145,000
Less: Unamortized debt issuance costs	(734)
Total	144,266
Less: Current portion of long-term debt	(5,000)	$ (5,000)
Total long-term debt, net	139,266
Term Loan \| Credit Facility
Debt Instrument [Line Items]
Remainder of 2019	2,500
2020	7,500
2021	11,250
2022	68,750
Total debt	90,000
Revolving Credit Facility \| Credit Facility
Debt Instrument [Line Items]
Total debt	$ 55,000

Share-Based Compensation - Narrative (Detail) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Charges against income for share-based payment arrangements	$ 2.6	$ 2.0	$ 4.7	$ 3.8
Unrecognized compensation expenses related to share-based payment arrangements	$ 18.0		$ 18.0
Recognition period			4 years
Market-based Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Requisite service period			3 years
The 2004 Plan and Employee Stock Purchase Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Amount of shares issuable through two stock-based compensation plans	11.3		11.3

Earnings Per Share - Reconciliation of Basic to Diluted Weighted-Average Shares Outstanding (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Earnings Per Share [Abstract]
Basic (shares)	37,500	37,066	37,411	36,983
Effect of dilutive securities (shares)	617	317	720	339
Diluted (shares)	38,117	37,383	38,131	37,322
Securities excluded as their inclusion would be anti-dilutive (shares)	2,384	1,124	2,354	1,095

Segment and Geographic Information - Summary of Net Sales by Product Category (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 91,503	$ 86,706	$ 176,843	$ 172,117
Vascular Interventions & Therapies
Segment Reporting Information [Line Items]
Net sales	52,494	51,368	102,488	101,234
Vascular Access
Segment Reporting Information [Line Items]
Net sales	23,723	22,574	47,513	45,812
Oncology
Segment Reporting Information [Line Items]
Net sales	$ 15,286	$ 12,764	$ 26,842	$ 25,071

Segment and Geographic Information - Summary of Net Sales by Geographic Area (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 91,503	$ 86,706	$ 176,843	$ 172,117
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	71,883	68,301	139,567	137,232
International
Revenues from External Customers and Long-Lived Assets [Line Items]
Net sales	$ 19,620	$ 18,405	$ 37,276	$ 34,885

Fair Value - Fair Value of Assets and Liabilities Measured on a Recurring Basis (Detail) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Financial Liabilities
Contingent consideration for acquisition earn outs	$ 26,518	$ 3,261
Recurring
Financial Assets
Short-term investments		2,100
Marketable securities	1,350	1,317
Total Financial Assets	1,350	3,417
Financial Liabilities
Total Financial Liabilities	26,518	3,261
Level 1 \| Recurring
Financial Assets
Short-term investments		2,100
Marketable securities	0	0
Total Financial Assets	0	2,100
Financial Liabilities
Contingent consideration for acquisition earn outs	0	0
Total Financial Liabilities	0	0
Level 2 \| Recurring
Financial Assets
Short-term investments		0
Marketable securities	0	0
Total Financial Assets	0	0
Financial Liabilities
Contingent consideration for acquisition earn outs	0	0
Total Financial Liabilities	0	0
Level 3 \| Recurring
Financial Assets
Short-term investments		0
Marketable securities	1,350	1,317
Total Financial Assets	1,350	1,317
Financial Liabilities
Contingent consideration for acquisition earn outs	26,518	3,261
Total Financial Liabilities	$ 26,518	$ 3,261

Fair Value - Fair Value Measurements Using Significant Unobservable Inputs (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Nov. 30, 2018	Nov. 30, 2018
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Financial assets, begining balance	$ 1,350,000	$ 1,317,000
Contingent consideration liability recorded as the result of the acquisitions (Note 2)	0	0
Change in present value of contingent consideration	0	0
Fair market value adjustments		33,000
Contingent consideration payments		0
Financial assets, ending balance	1,350,000	1,350,000
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Financial liabilities, begining balance	3,973,000	3,261,000
Contingent consideration liability recorded as the result of the acquisitions (Note 2)	22,301,000	25,101,000
Change in present value of contingent consideration	244,000	256,000
Fair market value adjustments		0
Contingent consideration payments		2,100
Financial liabilities, ending balance	$ 26,518,000	$ 26,518,000

Fair Value - Summary Showing the Recurring Fair Value Measurements of the Contingent Consideration Liability (Detail) $ in Thousands	Nov. 30, 2018 USD ($)	May 31, 2018 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liabilities	$ 26,518	$ 3,261
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	26,518	3,261
Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liabilities	26,518	3,261
Total Financial Liabilities	26,518	$ 3,261
Revenue based payments \| Discounted cash flow \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liabilities	17,842
Technical milestones \| Estimated probability \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liabilities	$ 5,855
Contingent consideration, liability, measurement input	0.90
Supplier default holdback \| Estimated probability \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liabilities	$ 2,821
Contingent consideration, liability, measurement input	0.95
Minimum \| Revenue based payments \| Discount rate \| Discounted cash flow \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.04
Minimum \| Revenue based payments \| Probability of payment \| Discounted cash flow \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.66
Maximum \| Revenue based payments \| Discount rate \| Discounted cash flow \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	0.05
Maximum \| Revenue based payments \| Probability of payment \| Discounted cash flow \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, measurement input	1.00
Contingent Consideration \| Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Financial Liabilities	$ 26,518

Fair Value - Additional Information (Detail) $ in Millions	Nov. 30, 2018 USD ($)
Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Potential amount of undiscounted future contingent consideration	$ 31.1
Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Potential amount of undiscounted future contingent consideration	$ 41.1

Marketable Securities (Detail) - USD ($) $ in Thousands	Nov. 30, 2018	May 31, 2018
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 1,350	$ 1,350
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(33)
Fair Value	1,350	1,317
Government agency obligations
Debt Securities, Available-for-sale [Line Items]
Amortized cost	1,350	1,350
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(33)
Fair Value	$ 1,350	$ 1,317

Commitments and Coontingencies - Additional Information (Detail) $ in Millions							1 Months Ended	6 Months Ended	10 Months Ended
	Mar. 29, 2016 claim	Mar. 24, 2016 claim	Mar. 11, 2016 claim	Jun. 01, 2015 motion	Mar. 10, 2015 patent	Jan. 11, 2012 Petition claim reexamination_appeal	Jul. 31, 2018 USD ($)	Nov. 30, 2018 claim	Jan. 31, 2017 reexamination_appeal	Nov. 30, 2017 USD ($)
Loss Contingencies [Line Items]
Loss contingency accrual \| $										$ 12.5
Payment of final settlements \| $							$ 12.7
C.R. Bard, Inc.
Loss Contingencies [Line Items]
Number of petitions filed for reexamination of patents \| Petition						3
Number of claims dismissed								40,000
The Utah Action
Loss Contingencies [Line Items]
Patent claims						41,000
Number of claims dismissed	20	8	6			40,000
Number of reexaminations \| reexamination_appeal						3
Number of pending claims		10	10
Number of claims reversed		2	4
The Utah Action \| Pending Litigation
Loss Contingencies [Line Items]
Number of reexaminations \| reexamination_appeal									2
The Utah Action \| C.R. Bard, Inc. \| Pending Litigation
Loss Contingencies [Line Items]
Number of reexaminations \| reexamination_appeal									3
The Delaware Action
Loss Contingencies [Line Items]
Number of patents allegedly infringed upon				2	3
Construction Issues
Loss Contingencies [Line Items]
Number of pending claims								2

Acquisition, Restructuring and Other Items, Net - Summary (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	$ 2,728	$ 4,766	$ 7,150	$ 7,755
Legal
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	867	2,236	3,747	3,848
Mergers and acquisitions
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	1,543	980	2,862	1,132
Restructuring
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	128	1,420	258	2,636
Other
Restructuring Cost and Reserve [Line Items]
Acquisition, restructuring and other items, net	$ 190	$ 130	$ 283	$ 139

Acquisition, Restructuring and Other Items, Net - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		22 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Aug. 31, 2018	May 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 128	$ 1,400	$ 258	$ 2,600	$ 6,200
Restructuring liability	$ 301		$ 301		$ 301	$ 548	$ 1,071

Acquisition, Restructuring and Other Items, Net - Costs Incurred (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		22 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	$ 548		$ 1,071
Charges	128	$ 1,400	258	$ 2,600	$ 6,200
Cash payments	(375)		(1,028)
Restructuring reserve, ending balance	301		301		301
Termination Benefits
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	317		838
Charges	0		0
Cash payments	(216)		(737)
Restructuring reserve, ending balance	101		101		101
Plant Consolidation
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	17		21
Charges	126		236
Cash payments	(143)		(257)
Restructuring reserve, ending balance	0		0		0
Regulatory Filings
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	14		12
Charges	2		22
Cash payments	(16)		(34)
Restructuring reserve, ending balance	0		0		0
Contract Cancellation Costs
Restructuring Reserve [Roll Forward]
Restructuring reserve, beginning balance	200		200
Charges	0		0
Cash payments	0		0
Restructuring reserve, ending balance	$ 200		$ 200		$ 200

Accumulated Other Comprehensive Income (Loss) - Schedule (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Nov. 30, 2018	Nov. 30, 2017	Nov. 30, 2018	Nov. 30, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 544,889		$ 542,595
Other comprehensive loss before reclassifications, net of tax	(206)		(298)
Amounts reclassified from accumulated other comprehensive income	0		0
Net other comprehensive loss	(206)	$ 195	(298)	$ 478
Ending Balance	549,563		549,563
Accumulated other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(1,044)		(952)
Ending Balance	(1,250)	(1,044)	(1,250)	(1,044)
Foreign currency translation gain (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			(1,035)
Other comprehensive loss before reclassifications, net of tax	(206)		(331)
Amounts reclassified from accumulated other comprehensive income	0		0
Net other comprehensive loss	(206)		(331)
Ending Balance	(1,366)	(1,160)	(1,366)	(1,160)
Unrealized gain (loss) on marketable securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance			83
Other comprehensive loss before reclassifications, net of tax	0		33
Amounts reclassified from accumulated other comprehensive income	0		0
Net other comprehensive loss	0		33
Ending Balance	$ 116	$ 116	$ 116	$ 116

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Nov. 30, 2018	Nov. 30, 2017
Income Tax Disclosure [Abstract]
Estimated federal statutory income tax rate	26.30%	59.80%

Marketable Securities - Narrative (Detail) $ in Millions	Nov. 30, 2018 USD ($) Investment	May 31, 2018 USD ($)
Marketable Securities [Abstract]
Investments in auction rate securities that failed auctions \| $	$ 1.4	$ 1.3
Number of investments (investment) \| Investment	1