Goodwill and Intangible Assets, Net of Accumulated Amortization
|12 Months Ended|
May 31, 2022
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Intangible Assets, Net of Accumulated Amortization||
Note J — Goodwill and Intangible Assets, Net of Accumulated Amortization
Goodwill and changes in goodwill as of and for the years ended May 31, 2022 and May 31, 2021 were as follows:
The Company had certain intangible assets on its Consolidated Balance Sheets. The components of intangible assets, at cost, consisted of the following:
During fiscal 2022, the Company acquired customer lists with a weighted-average amortization period of 8.0 years.
Amortization expense relating to intangible assets was $58.1 million, $68.6 million, and $81.9 million for fiscal 2022, 2021, and 2020, respectively.
The Company did not recognize an impairment loss as it relates to its goodwill or intangible assets during fiscal 2022, 2021, or 2020.
The estimated amortization expense for the next five fiscal years relating to intangible asset balances is as follows:
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef