XML 19 R8.htm IDEA: XBRL DOCUMENT

Note 3 - Selected Balance Sheet Data

3 Months Ended

Sep. 30, 2020

Supplemental Balance Sheet Disclosures [Text Block]

Note 3. Selected Balance Sheet Data:

Inventories:

Inventories consist of (in thousands):

	September 30,		June 30,
	2020		2020
Raw materials	$	52,808	$	51,530
Finished goods⁽¹⁾		57,887		56,268
Inventories, net	$	110,695	$	107,798

(1) Finished goods inventory of $4,692 and $4,646 included within other long-term assets in the respective September 30, 2020 and June 30, 2020, consolidated balance sheet. The inventory is included in long-term assets as it is forecasted to be sold after the 12 months subsequent to the consolidated balance sheet date.

Property and Equipment:

Property and equipment consist of (in thousands):

	September 30,			June 30,
	2020			2020
Land	$	8,536		$	8,516
Buildings and improvements		185,606			184,430
Machinery and equipment		172,955			153,704
Property and equipment, cost		367,097			346,650
Accumulated depreciation and amortization		(175,420	)		(169,821	)
Property and equipment, net	$	191,677		$	176,829

Intangible Assets:

Intangible assets consist of (in thousands):

	September 30,			June 30,
	2020			2020
Developed technology	$	435,761		$	434,653
Trade names		143,926			146,713
Customer relationships		213,769			211,750
Patents and other intangibles⁽¹⁾		8,138			2,475
Intangible assets		801,594			795,591
Accumulated amortization		(294,003	)		(279,046	)
Intangible assets, net	$	507,591		$	516,545

(1) Increase in patents and other intangible assets is primarily due to $5.0 million recognized in intangible assets in the first quarter of fiscal 2021 for certain third party patented technology acquired. The $5.0 million for the third party patented technology acquired was a non-cash activity within the condensed consolidated statement of cash flows as a cash payment was not made within the fiscal quarter.

Changes to the carrying amount of net intangible assets for the quarter ended September 30, 2020 consist of (in thousands):

Beginning balance	$	516,545
Acquisitions		-
Other additions		5,135
Amortization expense		(15,575	)
Currency translation		1,486
Ending balance	$	507,591

The estimated future amortization expense for intangible assets as of September 30, 2020 is as follows (in thousands):

2021 remainder	$	44,908
2022		58,326
2023		56,447
2024		53,892
2025		50,698
Thereafter		243,320
Total	$	507,591

Goodwill:

Changes to the carrying amount of goodwill for the quarter ended September 30, 2020 consist of (in thousands):

	Protein Sciences		Diagnostics and Genomics		Total
Beginning balance	$	373,081		355,229	$	728,310
Currency translation		3,211		115		3,326
Ending balance	$	376,292	$	355,344	$	731,636

We evaluate the carrying value of goodwill in the fourth quarter of each fiscal year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. The Company performed a goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2020. No indicators of impairment were identified as part of our assessment.

No triggering events were identified during the quarter ended September 30, 2020. There has been no impairment of goodwill since the adoption of Financial Accounting Standards Board (“FASB”) ASC 350 guidance for goodwill and other intangibles on July 1, 2002.