Note 3 - Selected Balance Sheet Data

3 Months Ended

Sep. 30, 2021

Notes to Financial Statements

Supplemental Balance Sheet Disclosures [Text Block]

Note 3. Selected Balance Sheet Data:

Inventories:

Inventories consist of (in thousands):

	September 30,		June 30,
	2021		2021
Raw materials	$	58,001	$	55,096
Finished goods(1)		64,740		67,108
Inventories, net	$	122,741	$	122,204

⁽¹⁾ Finished goods inventory of $5,375 and $5,456 included within other long-term assets in the respective September 30, 2021 and June 30, 2021, 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,
	2021			2021
Land	$	8,586		$	8,612
Buildings and improvements		191,284			190,661
Machinery and equipment		202,792			198,483
Property and equipment, cost		402,662			397,756
Accumulated depreciation and amortization		(195,528	)		(189,849	)
Property and equipment, net	$	207,134		$	207,907

Intangible Assets:

Intangible assets consist of (in thousands):

	September 30,			June 30,
	2021			2021
Developed technology	$	551,289		$	552,160
Trade names		147,245			147,640
Customer relationships		230,695			232,493
Patents		2,989			2,926
Other intangibles		6,309			6,316
Definite-lived intangible assets		938,527			941,535
Accumulated amortization		(364,927	)		(348,267	)
Definite-lived intangibles assets, net		573,600			593,268
In process research and development		22,700			22,700
Total intangible assets, net	$	596,300		$	615,968

Changes to the carrying amount of net intangible assets for the quarter ended September 30, 2021 consist of (in thousands):

Beginning balance	$	615,968
Acquisitions		-
Other additions		43
Amortization expense		(18,606	)
Currency translation		(1,105	)
Ending balance	$	596,300

The estimated future amortization expense for intangible assets as of September 30, 2021 is as follows (in thousands):

2022 remainder	$	55,714
2023		72,454
2024		69,618
2025		66,372
2026		62,606
Thereafter		246,836
Total	$	573,600

Goodwill:

Changes to the carrying amount of goodwill for the quarter ended September 30, 2021 consist of (in thousands):

	Protein Sciences			Diagnostics and Genomics			Total
Beginning balance	$	392,717			450,350		$	843,067
Currency translation		(2,979	)		(68	)		(3,047	)
Ending balance	$	389,738		$	450,282		$	840,020

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 quantitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2021. No indicators of impairment were identified as part of our assessment. 

During the quarter ended September 30, 2021, the Company combined the management of the Exosome and Asuragen reporting units, both of which are included in the Diagnostics and Genomics operating segment. In conjunction with the combination of the reporting units, a qualitative goodwill impairment assessment was performed. The qualitative assessment identified no indicators of impairment. No triggering events or items beyond the reporting unit combination that would require a goodwill impairment assessment were identified during the quarter ended September 30, 2021. 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.