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NEOG Stock Price Correlated With Neogen Financials
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Income Statement
Cash Flow
Balance Sheet
NEOG Income Statement
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Revenue, Net:
Cost of Goods & Services Sold:
Gross Profit:
Selling, General & Admin Expense:
Research & Development Expense:
Total Operating Expenses:
Operating Income:
Income Taxes:
Net Income:
NEOG Cash Flow
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Operating Activities Net Income:
Depreciation, Depletion & Amortization:
Change in Accounts Receiveable:
Net Cash from Operations:
Repurchases/Buybacks Common Stock:
Issuance of Long-term Debt:
Cash Dividends Paid:
Net Cash from Financing Activities:
Property, Plant & Equipment Purchases:
Purchases of Businesses, Net of Cash:
Net Cash from Investing Activities:
Net Change in Cash & Equivalents:
NEOG Balance Sheet
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Cash and Cash Equivalents:
Short-Term Investments:
Accounts Receivable, Net:
Inventories:
Total Current Assets:
Property, Plant & Equipment, Net:
Total Assets:
Accounts Payable:
Current Portion of Long-Term Debt:
Total Short-Term Liabilities:
Long Term Debt, Non-Current Portion:
Total Long-Term Liabilities:
Total Liabilities:
COMPANY PROFILE
1.
Summary of Significant Accounting Policies
Nature of Operations
Neogen Corporation develops, manufactures and markets a diverse line of products and services dedicated to food and animal safety.
Basis of Consolidation
The consolidated financial statements include the accounts of Neogen Corporation and its subsidiaries, all of which are wholly-owned as of May 31, 2021.
All intercompany accounts and transactions have been eliminated in consolidation.
Share and per share amounts reflect the June
4
, 2021 2-for-1 stock split as if it took place at the beginning of the periods presented.
Functional Currency
Our functional currency is the U.S. dollar. We translate our non-U.S.
operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded in other comprehensive income (loss). Gains or losses from foreign currency transactions are included in other income (expense) on our consolidated statement of income.
Recently Adopted Accounting Standards
Financial Instruments—Credit Losses
On June 1, 2020, the Company adopted ASU No. 2016-13—Measurement
of Credit Losses on Financial Instruments, which changes how the Company measures credit losses on most financial instruments measured at amortized cost and certain other instruments, such as loans, receivables and held-to-maturity
debt securities. Rather than generally recognizing credit losses when it is probable that the loss has been incurred, the revised guidance requires the Company to recognize an allowance for credit losses for the difference between the amortized cost basis of a financial instrument and the amount of amortized cost that the Company expects to collect over the instrument’s contractual life. The adoption of this guidance did not have a material impact on our consolidated financial statements due to the Company’s short-term contractual life of receivables and minimal expected losses.
Fair Value Measurements
On June 1, 2020, the Company adopted ASU 2018-13,
Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements of fair value measurements. The adoption of this guidance did not have an impact on our consolidated financial statements.
Cloud Computing Implementation Cost
On June 1, 2020, the Company adopted ASU 2018-15,
Intangible-Goodwill and Other Internal-Use
Software (Subtopic 350-40):
Customer’s Accounting for Implementation Cost Incurred in a Cloud Computing Arrangement That Is a Service Contract, which clarifies the accounting for implementation costs in cloud computing arrangements. The adoption of this guidance did not have an impact on our consolidated financial statements.
Recent Accounting Pronouncements Not Yet Adopted
Reference Rate Reform
In March 2020, FASB issued Update 2020-04,
Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This update provides temporary optional expedients to applying the reference rate reform guidance to contracts that reference LIBOR or another reference rate expected to be discontinued. Under this update, contract modifications resulting in a new reference rate may be accounted for as a continuation of the existing contract. This guidance is effective upon issuance of the update and applies to contract modifications made through December 31, 2022. We will adopt this standard when LIBOR is discontinued. We are evaluating the impact the new standard will have on our consolidated financial statements and related disclosures but do not anticipate a material impact.
Income Tax Simplification
In December 2019, the Financial Accounting Standards Board (“FASB”) issued Update 2019-12,
Income Taxes (“To
Summary of Significant Accounting Policies
Nature of Operations
Neogen Corporation develops, manufactures and markets a diverse line of products and services dedicated to food and animal safety.
Basis of Consolidation
The consolidated financial statements include the accounts of Neogen Corporation and its subsidiaries, all of which are wholly-owned as of May 31, 2021.
All intercompany accounts and transactions have been eliminated in consolidation.
Share and per share amounts reflect the June
4
, 2021 2-for-1 stock split as if it took place at the beginning of the periods presented.
Functional Currency
Our functional currency is the U.S. dollar. We translate our non-U.S.
operations’ assets and liabilities denominated in foreign currencies into U.S. dollars at current rates of exchange as of the balance sheet date and income and expense items at the average exchange rate for the reporting period. Translation adjustments resulting from exchange rate fluctuations are recorded in other comprehensive income (loss). Gains or losses from foreign currency transactions are included in other income (expense) on our consolidated statement of income.
Recently Adopted Accounting Standards
Financial Instruments—Credit Losses
On June 1, 2020, the Company adopted ASU No. 2016-13—Measurement
of Credit Losses on Financial Instruments, which changes how the Company measures credit losses on most financial instruments measured at amortized cost and certain other instruments, such as loans, receivables and held-to-maturity
debt securities. Rather than generally recognizing credit losses when it is probable that the loss has been incurred, the revised guidance requires the Company to recognize an allowance for credit losses for the difference between the amortized cost basis of a financial instrument and the amount of amortized cost that the Company expects to collect over the instrument’s contractual life. The adoption of this guidance did not have a material impact on our consolidated financial statements due to the Company’s short-term contractual life of receivables and minimal expected losses.
Fair Value Measurements
On June 1, 2020, the Company adopted ASU 2018-13,
Fair Value Measurement (Topic 820): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement, which modifies the disclosure requirements of fair value measurements. The adoption of this guidance did not have an impact on our consolidated financial statements.
Cloud Computing Implementation Cost
On June 1, 2020, the Company adopted ASU 2018-15,
Intangible-Goodwill and Other Internal-Use
Software (Subtopic 350-40):
Customer’s Accounting for Implementation Cost Incurred in a Cloud Computing Arrangement That Is a Service Contract, which clarifies the accounting for implementation costs in cloud computing arrangements. The adoption of this guidance did not have an impact on our consolidated financial statements.
Recent Accounting Pronouncements Not Yet Adopted
Reference Rate Reform
In March 2020, FASB issued Update 2020-04,
Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. This update provides temporary optional expedients to applying the reference rate reform guidance to contracts that reference LIBOR or another reference rate expected to be discontinued. Under this update, contract modifications resulting in a new reference rate may be accounted for as a continuation of the existing contract. This guidance is effective upon issuance of the update and applies to contract modifications made through December 31, 2022. We will adopt this standard when LIBOR is discontinued. We are evaluating the impact the new standard will have on our consolidated financial statements and related disclosures but do not anticipate a material impact.
Income Tax Simplification
In December 2019, the Financial Accounting Standards Board (“FASB”) issued Update 2019-12,
Income Taxes (“To
Free historical financial statements for Neogen Corp. See how revenue, income, cash flow, and balance sheet financials have changed over 51 quarters since 2011. Compare with NEOG stock chart to see long term trends.
Data imported from Neogen Corp SEC filings. Check original filings before making any investment decision.