Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Comprehensive Income (Loss) Note [Text Block]

Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss):

Supplemental Equity

The Company has declared cash dividends per share of $0.32 in both the three months ended September 30, 2021 and 2020. 

Consolidated Changes in Equity (amounts in thousands)

										Accumulated
					Additional					Other
	Common Stock				Paid-in		Retained			Comprehensive			Non-Controlling
	Shares		Amount		Capital		Earnings			Income(Loss)			Interest			Total
Balances at June 30, 2021		38,955	$	390	$	534,411	$	1,085,461		$	(57,291	)	$	8,263		$	1,571,234
Net earnings								69,615						(634	)		68,981
Other comprehensive income											(6,925	)		(39	)		(6,964	)
Common stock issued for exercise of options		295		3		36,345		(13,481	)								22,867
Common stock issued for restricted stock awards		20		0		0		(9,765	)								(9,765	)
Cash dividends								(12,493	)								(12,493	)
Stock-based compensation expense						11,396											11,396
Common stock issued to employee stock purchase plan		3		0		1,358											1,358
Employee stock purchase plan expense						341											341
Balances at September 30, 2021		39,273	$	393	$	583,851	$	1,119,337		$	(64,216	)	$	7,590		$	1,646,955

										Accumulated
					Additional					Other
	Common Stock				Paid-in		Retained			Comprehensive
	Shares		Amount		Capital		Earnings			Income(Loss)			Total
Balances at June 30, 2020		38,453	$	385	$	420,536	$	1,057,470		$	(97,199	)	$	1,381,192
Cumulative effect adjustments due to adoption of new accounting standards and other								(276	)					(276	)
Net earnings								33,395						33,395
Other comprehensive loss											14,057			14,057
Common stock issued for exercise of options		117		1		13,727								13,728
Common stock issued for restricted stock awards		25		0				(4,890	)					(4,890	)
Cash dividends								(12,336	)					(12,336	)
Stock-based compensation expense						12,667								12,667
Common stock issued to employee stock purchase plan		6		0		1,463								1,463
Employee stock purchase plan expense						286								286
Balances at September 30, 2020		38,601	$	386	$	448,679	$	1,073,362		$	(83,142	)	$	1,439,285

Accumulated Other Comprehensive Income

The components of other comprehensive income (loss) consist of changes in foreign currency translation adjustments and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges. The Company reclassified $1.6 million from accumulated other comprehensive income (loss) to earnings during the three months ended September 30, 2021. 

The accumulated balances related to each component of other comprehensive income (loss), net of tax, are summarized as follows:

	Unrealized Gains (Losses) on Derivative Instruments			Foreign Currency Translation Adjustments			Total
Balance as of June 30, 2021	$	(6,193	)	$	(51,098	)	$	(57,291	)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne		84			(8,607	)		(8,523	)
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1)		1,598			-			1,598
Balance as of September 30, 2021(2)	$	(4,511	)	$	(59,705	)	$	(64,216	)

	Unrealized Gains (Losses) on Derivative Instruments			Foreign Currency Translation Adjustments			Total
Balance as of June 30, 2020	$	(13,253	)	$	(83,946	)	$	(97,199	)
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne		11			11,914			11,925
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (3)		2,132			-			2,132
Balance as of September 30, 2020(2)	$	(11,110	)	$	(72,032	)	$	(83,142	)

(1) Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified ($2,091) to interest expense and a related tax benefit of $493 during the quarter ended September 30, 2021.

(2) The Company had net deferred tax benefits of $1,391 and $3,413 included in the accumulated other comprehensive income loss as of September 30, 2021 and 2020, respectively.

(3) Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified ($2,769) to interest expense and a related tax benefit of $637 during the quarter ended September 30, 2020.