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Note 3 - Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended
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Jun. 30, 2017
Notes to Financial Statements |
Supplemental Balance Sheet Disclosures [Text Block] | Note 3. Supplemental Balance Sheet and Cash Flow Information: Available-For-Sale Investments: The fair value of the Company's available-for-sale investments as of June 30, 2017 and June 30, 2016 were $66.1 million and $31.6 million, respectively. The increase was caused by the addition of $2.1 million in corporate bond securities held by Advanced Cell Diagnostics (ACD), and the investment of $1.4 million of available cash in China into certificates of deposit. The remaining increase is due to a $31 .0 million change in the fair value of the Company's investment in ChemoCentryx, Inc. (CCXI). The amortized cost basis of the Company's investment in CCXI as of June 30, 2017 and June 30, 2016 was $ 29.5 million. The unrealized gain (loss) on available-for-sale investments for fiscal 2017 includes a $30.1 million unrealized gain related to our investment in CCXI. As of June 30, 2017, the stock price of CCXI was $9.36 per share compared to our cost basis of $4.73 per share. Inventories: Inventories consist of (in thousands):
|  | June 30, |
|  | 2017 |  |  | 2016 |
Raw materials |  | $ | 22,074 |  |  | $ | 18,685 |
Finished goods |  |  | 38,077 |  |  |  | 38,417 |
Inventories, net |  | $ | 60,151 |  |  | $ | 57,102 |
Property and Equipment: Property and equipment consist of (in thousands):
|  | June 30, |
|  | 2017 |  |  | 2016 |
Cost: |  |  |  |  |  |  |  |
Land |  | $ | 6,270 |  |  | $ | 6,270 |
Buildings and improvements |  |  | 158,495 |  |  |  | 157,963 |
Machinery, equipment and other |  |  | 98,596 |  |  |  | 82,018 |
Property and equipment |  |  | 263,361 |  |  |  | 246,251 |
Accumulated depreciation and amortization |  |  | (128,237 | ) |  |  | (113,889 | )
Property and equipment, net |  | $ | 135,124 |  |  | $ | 132,362 |
Intangibles assets were comprised of the following (in thousands):
|  |  |  |  |  |  |  | June 30, |
|  | Useful Life (years) |  |  | 2017 |  |  | 2016 |
Developed technology |  |  | 9 | - | 15 |  |  | $ | 276,959 |  |  | $ | 120,611 |
Trade names |  |  | 5 | - | 20 |  |  |  | 87,092 |  |  |  | 63,706 |
Customer relationships |  |  | 9 | - | 16 |  |  |  | 204,243 |  |  |  | 191,118 |
Non-compete agreement |  |  | 3 | - | 5 |  |  |  | 3,264 |  |  |  | 3,284 |
Patents |  |  |  | 10 |  |  |  |  | 633 |  |  |  | - |
Intangible assets |  |  |  |  |  |  |  |  | 572,191 |  |  |  | 378,719 |
Accumulated amortization |  |  |  |  |  |  |  |  | (120,149 | ) |  |  | (75,595 | )
Amortizable intangible assets, net |  |  |  |  |  |  |  | $ | 452,042 |  |  | $ | 303,124 |
In process research and development |  |  |  |  |  |  |  |  | - |  |  |  | 7,400 |
Intangible assets, net |  |  |  |  |  |  |  | $ | 452,042 |  |  | $ | 310,524 |
Changes to the carrying amount of net intangible assets consist of (in thousands):
|  | June 30, |
|  | 2017 |  |  | 2016 |
Beginning balance |  | $ | 310,524 |  |  | $ | 292,839 |
Acquisitions |  |  | 185,869 |  |  |  | 53,500 |
Other additions |  |  | 976 |  |  |  | - |
Amortization expense |  |  | (44,393 | ) |  |  | (29,395 | )
Currency translation |  |  | (934 | ) |  |  | (6,420 | )
Ending balance |  | $ | 452,042 |  |  | $ | 310,524 |
Amortization expense related to technologies included in cost of sales was $23.1 million $11.1 million, and $9.5 million in fiscal 2017, 2016, and 2015, respectively. Amortization expense related to trade names, customer relationships, non-compete agreements, and patents included in selling, general and administrative expense was $21.3 million, $18.3 million, and $16.7 million, in fiscal 2017, 2016, and 2015 respectively. The estimated future amortization expense for intangible assets as of June 30, 2017 is as follows (in thousands):
2018 |  | $ | 44,825 |
2019 |  |  | 44,171 |
2020 |  |  | 43,538 |
2021 |  |  | 43,180 |
2022 |  |  | 41,491 |
Thereafter |  |  | 234,837 |
Total |  | $ | 452,042 |
Changes in goodwill by reportable segment and in total consist of (in thousands):
|  | Biotechnology |  |  | Diagnostics |  |  | Protein Platforms |  |  | Total |
June 30, 2015 |  | $ | 115,198 |  |  | $ | 60,601 |  |  | $ | 214,839 |  |  | $ | 390,638 |
Acquisitions (Note 2) |  |  | - |  |  |  | 42,669 |  |  |  | 6,878 |  |  |  | 49,547 |
Prior year acquisitions (Note 2) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Currency translation |  |  | (6,475 | ) |  |  | - |  |  |  | (2,828 | ) |  |  | (9,303 | )
June 30, 2016 |  | $ | 108,723 |  |  | $ | 103,270 |  |  | $ | 218,889 |  |  | $ | 430,882 |
Acquisitions (Note 2) |  |  | 147,484 |  |  |  |  |  |  |  |  |  |  |  | 147,484 |
Prior year acquisitions (Note 2) |  |  | - |  |  |  | - |  |  |  | 1,809 |  |  |  | 1,809 |
Currency translation |  |  | (1,277 | ) |  |  | - |  |  |  | 128 |  |  |  | (1,149 | )
June 30, 2017 |  | $ | 254,930 |  |  | $ | 103,270 |  |  | $ | 220,826 |  |  | $ | 579,026 |
Other Assets: Other assets consist of (in thousands):
|  | June 30, |
|  | 2017 |  |  | 2016 |
Investments |  | $ | 40,385 |  |  | $ | 385 |
Other |  |  | 3,617 |  |  |  | 1,537 |
|  | $ | 44,002 |  |  | $ | 1,922 |
As of June 30, 2017, the Company had $44.0 million of other assets compared to $1.9 million as of June 30, 2016. The increase from June 30 is due to a $40.0 million investment in Astute Medical, Inc. during the second quarter of fiscal 2017. This investment is accounted for under the cost-method as we own less than 20% of the outstanding stock and we concluded that we do not have significant influence. Under the cost-method, the fair value is not estimated if there are no identified events or changes in circumstances that may have a significant adverse effect on the fair value of the investment. No such events or changes in circumstances were identified during fiscal 2017. Supplemental C ash F low I nformation : Supplemental cash flow information was as follows (in thousands):
|  | Year Ended June 30, |
|  | 2017 |  |  | 2016 |  |  | 2015 |
Income taxes paid |  | $ | 42,900 |  |  | $ | 44,900 |  |  | $ | 42,600 |
Interest paid |  |  | 7,452 |  |  |  | 1,661 |  |  |  | 1,544 |
Non-cash activities: |  |  |  |  |  |  |  |  |  |  |  |
Acquisition-related liabilities (1) |  |  | 32,856 |  |  |  | 42,259 |  |  |  | 43,048 |
( 1 ) Consists of holdback payments due at future dates and liabilities for contingent consideration. Further information regarding liabilities for contingent consideration can be found in Note 4.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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