Company: NEOG
Filing Date: 2025-07-30
Form Type: 10-K
Source: 0000950170-25-100064
Chunk: 66

Company: NEOGEN CORP
Filing Date: 2025-07-30
Form: 10-K
Item: Item 6
Chunk 66
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2024 was a net (liability) asset of ($1,659) and $2,451, respectively. The Company expects to reclassify a $281 loss of accumulated other comprehensive income into earnings in the next 12 months.We record the fair value of our interest rate swaps on a recurring basis using Level 2 observable market inputs for similar assets or liabilities in active markets.  

         Fair Value of Derivatives Designated as Hedging Instruments
          
         Balance Sheet Location
          
         May 31, 2025

         May 31, 2024

         Interest rate swaps – current
          
         Other current (liabilities) assets
          
         $
         (369
         )
          
         $
         2,222

         Interest rate swaps – non-current
          
         Other non-current (liabilities) assets

         (1,290
         )

         229

       Items Measured at Fair Value on a Nonrecurring BasisIn addition to items that are measured at fair value on a recurring basis, the Company measures certain assets and liabilities at fair value on a nonrecurring basis, which are not included in the table above. As these nonrecurring fair value measurements are generally determined using unobservable inputs, these fair value measurements are classified within Level 3 of the fair value hierarchy. For further information see Note 6 "Goodwill and Other Intangible Assets" and Note 8 “Business Combinations”.Items Not Carried at Fair ValueFair values of the Company’s Term Loan and Senior Notes were as follows:

         Year Ended May 31,

         2025

         2024

         Aggregate fair value

         914,875

         923,170

         Aggregate carrying value (1)

         900,000

         900,000

       (1) Excludes unamortized debt issuance costs.Fair values were based on available market information and other observable data and are classified within Level 2 of the fair value hierarchy. 14. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss changes by component, net of related tax, were as follows:  

88

         May 31,

         2025

         2024

         Accumulated other comprehensive loss, beginning balance
          
         $
         (30,021
         )
          
         $
         (33,251
         )

         Foreign currency translation adjustment

         Balance at beginning of period