XML 34 R10.htm IDEA: XBRL DOCUMENT
v3.20.2

Note 3 - Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended
--- | ---
Jun. 30, 2020
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, 2020 and June 30, 2019 were $87.8 million and $38.2 million, respectively. The increase was due to year-over-year increase in the stock price of CCXI, which was $9.30 per share at June 30, 2019 compared to $57.54 per share at June 30, 2020. The amortized cost basis of the Company's investment in CCXI was $6.6 million and $18.8 million as of June 30, 2020 and 2019 respectively. Inventories: Inventories consist of (in thousands):
|  | June 30, |
|  | 2020 |  |  | 2019 |
Raw materials |  | $ | 51,530 |  |  | $ | 40,913 |
Finished goods(1) |  |  | 56,268 |  |  |  | 53,376 |
Inventories, net |  | $ | 107,798 |  |  | $ | 94,289 |
(1) Finished goods inventory of $4,646 and $3,239 is included within other long-term assets in the June 30, 2020 and June 30, 2019 Balance Sheets, respectively, 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, |
|  | 2020 |  |  | 2019 |
Cost: |  |  |  |  |  |  |  |
Land |  | $ | 8,516 |  |  | $ | 7,065 |
Buildings and improvements |  |  | 184,430 |  |  |  | 175,019 |
Machinery, equipment and other |  |  | 153,704 |  |  |  | 124,233 |
Property and equipment |  |  | 346,650 |  |  |  | 306,317 |
Accumulated depreciation and amortization |  |  | (169,821 | ) |  |  | (152,278 | )
Property and equipment, net |  | $ | 176,829 |  |  | $ | 154,039 |
Intangibles assets were comprised of the following (in thousands):
|  |  |  |  |  |  | June 30, |
|  | Useful Life (years) |  |  | 2020 |  |  | 2019 |
Developed technology |  | 9 | - | 15 |  |  | $ | 434,653 |  |  | $ | 435,679 |
Trade names |  | 2 | - | 20 |  |  |  | 146,713 |  |  |  | 147,296 |
Customer relationships |  | 7 | - | 16 |  |  |  | 211,750 |  |  |  | 214,320 |
Patents |  |  | 10 |  |  |  |  | 2,475 |  |  |  | 2,133 |
Intangible assets |  |  |  |  |  |  |  | 795,591 |  |  |  | 799,428 |
Accumulated amortization |  |  |  |  |  |  |  | (279,046 | ) |  |  | (219,999 | )
Intangibles assets, net |  |  |  |  |  |  | $ | 516,545 |  |  | $ | 579,429 |
Changes to the carrying amount of net intangible assets consist of (in thousands):
|  | June 30, |
|  | 2020 |  |  | 2019 |
Beginning balance |  | $ | 579,429 |  |  | $ | 446,332 |
Acquisitions (Note 4) |  |  | - |  |  |  | 191,956 |
Other additions |  |  | 311 |  |  |  | 633 |
Amortization expense |  |  | (61,095 | ) |  |  | (58,715 | )
Currency translation |  |  | (2,100 | ) |  |  | (777 | )
Ending balance |  | $ | 516,545 |  |  | $ | 579,429 |
Amortization expense related to technologies included in cost of sales was $34.5 million, $33.3 million, and $25.3 million in fiscal 2020, 2019, and 2018, respectively. Amortization expense related to trade names, customer relationships, non-compete agreements, and patents included in selling, general and administrative expense was $26.6 million, $25.4 million, and $21.6 million, in fiscal 2020, 2019, and 2018 respectively. The estimated future amortization expense for intangible assets as of June 30, 2020 is as follows (in thousands):
2021 |  | $ | 59,766 |
2020 |  |  | 57,564 |
2023 |  |  | 55,696 |
2024 |  |  | 53,198 |
2025 |  |  | 50,024 |
Thereafter |  |  | 240,297 |
Total |  | $ | 516,545 |
Changes in goodwill by segment and in total consist of (in thousands):
|  | Protein Sciences |  |  | Diagnostics & Genomics |  |  | Total |
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 |
Acquisitions (Note 4) |  |  | (326 | ) |  |  | - |  |  |  | (326 | )
Currency Translation |  |  | (4,000 | ) |  |  | (31 | ) |  |  | (4,031 | )
June 30, 2020 |  | $ | 373,081 |  |  | $ | 355,229 |  |  | $ | 728,310 |
Other Assets: Other assets consist of (in thousands):
|  | June 30, |
|  | 2020 |  |  | 2019 |
Long-term deposits |  | $ | 6,234 |  |  | $ | 487 |
Other |  |  | 7,288 |  |  |  | 5,181 |
Other long-term assets |  | $ | 13,522 |  |  | $ | 5,668 |
As of June 30, 2020, the Company had $13.5 million of other assets compared to $5.7 million as of June 30, 2019. The increase in other long-term assets in fiscal 2020 is primarily attributable to deposits made on our GMP manufacturing facility. Supplemental Cash Flow Information: Supplemental cash flow information was as follows (in thousands):
|  | Year Ended June 30, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Income taxes paid |  | $ | 41,992 |  |  | $ | 36,814 |  |  | $ | 35,076 |
Interest paid |  |  | 18,615 |  |  |  | 21,497 |  |  |  | 9,844 |
Non-cash activities: |  |  |  |  |  |  |  |  |  |  |  |
Acquisition-related liabilities (1) |  |  | (2,105 | ) |  |  | 12,600 |  |  |  | 1,396 |
| (1) Consists of holdback payments due at future dates and liabilities for contingent consideration. Amounts disclosed above represent the total non-cash change in the liability from the prior fiscal year. Further information regarding liabilities for contingent consideration can be found in Notes 4 and 5.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration