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Note 3 - Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended
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Jun. 30, 2019
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, 2019 and June 30, 2018 were $38.2 million and $54.3 million, respectively. The decrease was due to year-over-year decreases in the stock price of CCXI, from $13.17 per share at June 30, 2018 to $9.30 per share at June 30, 2019 resulting in a $16.1 million decrease in the fair value of the Company's investment in CCXI. The amortized cost basis of the Company's investment in CCXI was $18.8 million as of June 30, 2019 and 2018. Inventories: Inventories consist of (in thousands):
|  | June 30, |
|  | 2019 |  |  | 201 8 |
Raw materials |  | $ | 40,913 |  |  | $ | 30,956 |
Finished goods (1) |  |  | 53,376 |  |  |  | 54,692 |
Inventories, net |  | $ | 94,289 |  |  | $ | 85,648 |
( 1 ) Finished goods inventory of $3,239 is included within other long-term assets in the June 30, 2019 Balance Sheet as it 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):
|  | June 30, |
|  | 201 9 |  |  | 201 8 |
Cost: |  |  |  |  |  |  |  |
Land |  | $ | 7,065 |  |  | $ | 7,065 |
Buildings and improvements |  |  | 175,019 |  |  |  | 170,110 |
Machinery, equipment and other |  |  | 124,233 |  |  |  | 107,625 |
Property and equipment |  |  | 306,317 |  |  |  | 284,800 |
Accumulated depreciation and amortization |  |  | (152,278 | ) |  |  | (139,452 | )
Property and equipment, net |  | $ | 154,039 |  |  | $ | 145,348 |
Intangibles assets were comprised of the following (in thousands):
|  |  |  |  |  |  | June 30, |
|  | Useful Life (years) |  |  | 201 9 |  |  | 201 8 |
Developed technology |  | 9 | - | 15 |  |  | $ | 435,679 |  |  | $ | 305,303 |
Trade names |  | 2 | - | 20 |  |  |  | 147,296 |  |  |  | 89,608 |
Customer relationships |  | 7 | - | 16 |  |  |  | 214,320 |  |  |  | 212,228 |
Patents |  |  | 10 |  |  |  |  | 2,133 |  |  |  | 1,401 |
Intangible assets |  |  |  |  |  |  |  | 799,428 |  |  |  | 608,540 |
Accumulated amortization |  |  |  |  |  |  |  | (219,999 | ) |  |  | (162,208 | )
Intangibles assets, net |  |  |  |  |  |  | $ | 579,429 |  |  | $ | 446,332 |
Changes to the carrying amount of net intangible assets consist of (in thousands):
|  | June 30, |
|  | 201 9 |  |  | 201 8 |
Beginning balance |  | $ | 446,332 |  |  | $ | 452,042 |
Acquisitions (Note 4) |  |  | 191,956 |  |  |  | 40,673 |
Other additions |  |  | 633 |  |  |  | 908 |
Amortization expense |  |  | (58,715 | ) |  |  | (47,076 | )
Currency translation |  |  | (777 | ) |  |  | (215 | )
Ending balance |  | $ | 579,429 |  |  | $ | 446,332 |
Amortization expense related to technologies included in cost of sales was $33.3 million, $25.3 million, and $23.1 million in fiscal 2019, 2018, and 2017, respectively. Amortization expense related to trade names, customer relationships, non-compete agreements, and patents included in selling, general and administrative expense was $25.4 million, $21.6 million, and $21.3 million, in fiscal 2019, 2018, and 2017 respectively. The estimated future amortization expense for intangible assets as of June 30, 2019 is as follows (in thousands):
2020 |  | $ | 59,905 |
2021 |  |  | 59,557 |
2022 |  |  | 57,905 |
2023 |  |  | 56,031 |
2024 |  |  | 53,464 |
Thereafter |  |  | 292,567 |
Total |  | $ | 579,429 |
Changes in goodwill by reportable segment and in total consist of (in thousands):
|  | Protein Sciences |  |  | Diagnostics & Genomics |  |  | Total |
June 30, 2017 |  | $ | 331,789 |  |  | $ | 247,237 |  |  | $ | 579,026 |
Acquisitions (Note 4) |  |  | 16,186 |  |  |  | 2,910 |  |  |  | 19,096 |
Currency translation |  |  | (56 | ) |  |  | (176 | ) |  |  | (232 | )
June 30, 2018 |  | $ | 347,918 |  |  | $ | 249,972 |  |  | $ | 597,890 |
Acquisitions (Note 4) |  |  | 30,939 |  |  |  | 105,362 |  |  |  | 136,301 |
Currency translation |  |  | (1,450 | ) |  |  | (74 | ) |  |  | (1,524 | )
June 30, 2019 |  | $ | 377,407 |  |  | $ | 355,260 |  |  | $ | 732,667 |
Other Assets: Other assets consist of (in thousands):
|  | June 30, |
|  | 201 9 |  |  | 201 8 |
Investments |  | $ | - |  |  | $ | 2,606 |
Other |  |  | 5,668 |  |  |  | 2,660 |
Other long-term assets |  | $ | 5,668 |  |  | $ | 5,266 |
As of June 30, 2019, the Company had $5.7 million of other assets compared to $5.3 million as of June 30, 2018. The increase was attributable to finished goods inventory of $3.2 million included within other long-term assets in the June 30, 2019 Balance Sheet as it forecasted to be sold after the 12 months subsequent to the consolidated balance sheet date. This increase was partially offset by the reduction in investments related to our purchase of the outstanding shares of B-MoGen discussed in note 4 and the reclassification of the amounts held in escrow from our Astute investment classified as a long-term asset as of June 30, 2018 to a short-term asset as of June 30, 2019 as we are expected to receive the final proceeds within the next 12 months. Supplemental Cash Flow Information: Supplemental cash flow information was as follows (in thousands):
|  | Year Ended June 30, |
|  | 201 9 |  |  | 201 8 |  |  | 201 7 |
Income taxes paid |  | $ | 36,814 |  |  | $ | 35,076 |  |  | $ | 42,900 |
Interest paid |  |  | 21,497 |  |  |  | 9,844 |  |  |  | 7,452 |
Non-cash activities: |  |  |  |  |  |  |  |  |  |  |  |
Acquisition-related liabilities (1) |  |  | 12,600 |  |  |  | 1,396 |  |  |  | 32,856 |
| ( 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 Notes 4 and 5.

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