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Note 3 - Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended
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Jun. 30, 2021
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 equity investments as of June 30, 2021 and June 30, 2020 were $20.0 million and $87.8 million, respectively. The decrease was due to year-over-year decrease in the stock price of CCXI, which was $13.39 per share at June 30, 2021 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 $6.6 million as of June 30, 2021 and 2020, respectively. The Company's available-for-sale debt securities as of June 30, 2021 and June 30, 2020 were $12.5 million and $36.4 million, respectively. The decrease is due to the timing of debt maturities and cash balances at the balance sheet date. Inventories: Inventories consist of (in thousands):
|  | June 30, |
|  | 2021 |  |  | 2020 |
Raw materials |  | $ | 55,096 |  |  | $ | 51,530 |
Finished goods(1) |  |  | 67,108 |  |  |  | 56,268 |
Inventories, net |  | $ | 122,204 |  |  | $ | 107,798 |
(1) Finished goods inventory of $5,456 and $4,646 is included within other long-term assets in the June 30, 2021 and June 30, 2020 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, |
|  | 2021 |  |  | 2020 |
Cost: |  |  |  |  |  |  |  |
Land |  | $ | 8,612 |  |  | $ | 8,516 |
Buildings and improvements |  |  | 190,661 |  |  |  | 184,430 |
Machinery, equipment and other |  |  | 198,483 |  |  |  | 153,704 |
Property and equipment |  |  | 397,756 |  |  |  | 346,650 |
Accumulated depreciation and amortization |  |  | (189,849 | ) |  |  | (169,821 | )
Property and equipment, net |  | $ | 207,907 |  |  | $ | 176,829 |
Intangibles assets were comprised of the following (in thousands):
|  |  |  |  |  |  |  | June 30, |
|  | Useful Life (years) |  |  | 2021 |  |  | 2020 |
Developed technology |  |  | 9 | - | 15 |  |  | $ | 552,160 |  |  | $ | 434,653 |
Trade names |  |  | 2 | - | 20 |  |  |  | 147,640 |  |  |  | 146,713 |
Customer relationships |  |  | 7 | - | 16 |  |  |  | 232,493 |  |  |  | 211,750 |
Patents |  |  |  | 10 |  |  |  |  | 2,926 |  |  |  | 2,475 |
Other intangibles(1) |  |  | 5 | - | 15 |  |  |  | 6,316 |  |  |  | - |
Definite-lived intangible assets |  |  |  |  |  |  |  |  | 941,535 |  |  |  | 795,591 |
Accumulated amortization |  |  |  |  |  |  |  |  | (348,267 | ) |  |  | (279,046 | )
Definite-lived intangibles assets, net |  |  |  |  |  |  |  |  | 593,268 |  |  |  | 516,545 |
In process research and development |  |  |  |  |  |  |  |  | 22,700 |  |  |  | - |
Total intangible assets, net |  |  |  |  |  |  |  | $ | 615,968 |  |  | $ | 516,545 |
(1) Increase in other intangibles assets is primarily due to $5.0 million recognized in intangible assets in the first quarter of fiscal 2021 for certain third party patented technology acquired. Changes to the carrying amount of net intangible assets consist of (in thousands):
|  |  | June 30, |
|  |  | 2021 |  |  | 2020 |
Beginning balance |  |  | $ | 516,545 |  |  | $ | 579,429 |
Acquisitions (Note 4) |  |  |  | 153,311 |  |  |  | - |
Other additions |  |  |  | 5,912 |  |  |  | 311 |
Amortization expense |  |  |  | (64,940 | ) |  |  | (61,095 | )
Currency translation |  |  |  | 5,140 |  |  |  | (2,100 | )
Ending balance |  |  | $ | 615,968 |  |  | $ | 516,545 |
Amortization expense related to developed technologies included in cost of sales was $36.5 million, $34.5 million, and $33.3 million in fiscal 2021, 2020, and 2019, respectively. Amortization expense related to trade names, customer relationships, non-compete agreements, and patents included in selling, general and administrative expense was $28.4 million, $26.6 million, and $25.4 million, in fiscal 2021, 2020, and 2019 respectively. The estimated future amortization expense for intangible assets as of June 30, 2021, excluding any possible future amortization associated with acquired IPR&D which has not met technological feasibility, is as follows (in thousands):
2022 |  | $ | 74,482 |
2023 |  |  | 72,649 |
2024 |  |  | 69,780 |
2025 |  |  | 66,523 |
2026 |  |  | 62,739 |
Thereafter |  |  | 247,095 |
Total |  | $ | 593,268 |
Changes in goodwill by segment and in total consist of (in thousands):
|  | Protein Sciences |  |  | Diagnostics & Genomics |  |  | Total |
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 |
Acquisitions (Note 4) |  |  | 7,848 |  |  |  | 94,970 |  |  |  | 102,818 |
Currency translation |  |  | 11,788 |  |  |  | 151 |  |  |  | 11,939 |
June 30, 2021 |  | $ | 392,717 |  |  | $ | 450,350 |  |  | $ | 843,067 |
Supplemental Cash Flow Information: Supplemental cash flow information was as follows (in thousands):
|  | Year Ended June 30, |
|  | 2021 |  |  | 2020 |  |  | 2019 |
Income taxes paid |  | $ | 20,952 |  |  | $ | 41,992 |  |  | $ | 36,814 |
Interest paid |  |  | 13,576 |  |  |  | 18,615 |  |  |  | 21,497 |
Non-cash activities: |  |  |  |  |  |  |  |  |  |  |  |
Acquisition-related liabilities(1) |  |  | 23,600 |  |  |  | (2,105 | ) |  |  | 12,600 |
Other intangibles(2) |  |  | 4,000 |  |  |  | - |  |  |  | - |
| (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. (2) $4.0 million of the third party patented technology acquired in fiscal 2021 was a non-cash activity within the consolidated statement of cash flows as a cash payment was not made within the fiscal year ended June 30, 2021.

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