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Note 8 - Supplemental Equity and Accumulated Other Comprehensive Income (Loss) | 6 Months Ended
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Dec. 31, 2021
Notes to Financial Statements |
Comprehensive Income (Loss) Note [Text Block] | Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss): Supplemental Equity The Company has declared cash dividends per share of $0.32 and $0.64 in both the three and six months ended December 31, 2021 and 2020, respectively. Consolidated Changes in Equity (amounts in thousands)
|  | Bio-Techne Shareholders |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Additional |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |
|  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |  |  | Noncontrolling |  |  |  |  |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Earnings |  |  | Income(Loss) |  |  | Interest |  |  | Total |
Balances at June 30, 2021 |  |  | 38,955 |  |  | $ | 390 |  |  | $ | 534,411 |  |  | $ | 1,085,461 |  |  | $ | (57,291 | ) |  | $ | 8,263 |  |  | $ | 1,571,234 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 69,615 |  |  |  |  |  |  |  | (634 | ) |  |  | 68,981 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (6,925 | ) |  |  | (39 | ) |  |  | (6,964 | )
Share repurchases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Common stock issued for exercise of options |  |  | 295 |  |  |  | 3 |  |  |  | 36,345 |  |  |  | (13,481 | ) |  |  |  |  |  |  |  |  |  |  | 22,867 |
Common stock issued for restricted stock awards |  |  | 20 |  |  |  | 0 |  |  |  | 0 |  |  |  | (9,765 | ) |  |  |  |  |  |  |  |  |  |  | (9,765 | )
Cash dividends |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,493 | ) |  |  |  |  |  |  |  |  |  |  | (12,493 | )
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  | 11,396 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 11,396 |
Common stock issued to employee stock purchase plan |  |  | 3 |  |  |  | 0 |  |  |  | 1,358 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,358 |
Employee stock purchase plan expense |  |  |  |  |  |  |  |  |  |  | 341 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 341 |
Balances at September 30, 2021 |  |  | 39,273 |  |  | $ | 393 |  |  | $ | 583,851 |  |  | $ | 1,119,337 |  |  | $ | (64,216 | ) |  | $ | 7,590 |  |  | $ | 1,646,955 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 80,173 |  |  |  |  |  |  |  | (8,114 | ) |  |  | 72,059 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,742 |  |  |  | 66 |  |  |  | 4,808 |
Share repurchases |  |  | (89 | ) |  |  | (1 | ) |  |  |  |  |  |  | (41,293 | ) |  |  |  |  |  |  |  |  |  |  | (41,294 | )
Common stock issued for exercise of options |  |  | 134 |  |  |  | 1 |  |  |  | 18,604 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,605 |
Common stock issued for restricted stock awards |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash dividends |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,576 | ) |  |  |  |  |  |  |  |  |  |  | (12,576 | )
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  | 13,701 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,701 |
Common stock issued to employee stock purchase plan |  |  |  |  |  |  |  |  |  |  | 6 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 6 |
Employee stock purchase plan expense |  |  |  |  |  |  |  |  |  |  | 267 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 267 |
Balances at December 31, 2021 |  |  | 39,319 |  |  |  | 393 |  |  |  | 616,429 |  |  |  | 1,145,641 |  |  |  | (59,474 | ) |  |  | (458 | ) |  |  | 1,702,531 |
|  | Bio-Techne Shareholders |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Accumulated |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  | Additional |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |
|  | Common Stock |  |  | Paid-in |  |  | Retained |  |  | Comprehensive |  |  | Noncontrolling |  |  |  |  |
|  | Shares |  |  | Amount |  |  | Capital |  |  | Earnings |  |  | Income(Loss) |  |  | Interest |  |  | Total |
Balances at June 30, 2020 |  |  | 38,453 |  |  | $ | 385 |  |  | $ | 420,536 |  |  | $ | 1,057,470 |  |  | $ | (97,199 | ) |  | $ | - |  |  | $ | 1,381,192 |
Cumulative effect adjustments due to adoption of new accounting standards |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (276 | ) |  |  |  |  |  |  |  |  |  |  | (276 | )
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 33,395 |  |  |  |  |  |  |  |  |  |  |  | 33,395 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 14,057 |  |  |  |  |  |  |  | 14,057 |
Common stock issued for exercise of options |  |  | 117 |  |  |  | 1 |  |  |  | 13,727 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 13,728 |
Common stock issued for restricted stock awards |  |  | 25 |  |  |  | 0 |  |  |  | (0 | ) |  |  | (4,890 | ) |  |  |  |  |  |  |  |  |  |  | (4,890 | )
Cash dividends |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,336 | ) |  |  |  |  |  |  |  |  |  |  | (12,336 | )
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  | 12,667 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12,667 |
Common stock issued to employee stock purchase plan |  |  | 6 |  |  |  | 0 |  |  |  | 1,463 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1,463 |
Employee stock purchase plan expense |  |  |  |  |  |  |  |  |  |  | 286 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 286 |
Balances at September 30, 2020 |  |  | 38,601 |  |  | $ | 386 |  |  | $ | 448,679 |  |  | $ | 1,073,362 |  |  | $ | (83,142 | ) |  | $ | - |  |  | $ | 1,439,285 |
Non-controlling interest in Eminence |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 8,985 |  |  |  | 8,985 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 46,274 |  |  |  |  |  |  |  | (130 | ) |  |  | 46,144 |
Other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 18,904 |  |  |  | 83 |  |  |  | 18,987 |
Common stock issued for exercise of options |  |  | 161 |  |  |  | 2 |  |  |  | 16,748 |  |  |  | (2,482 | ) |  |  |  |  |  |  |  |  |  |  | 14,268 |
Common stock issued for restricted stock awards |  |  | 3 |  |  |  | 0 |  |  |  | (0 | ) |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  | 0 |
Cash dividends |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (12,392 | ) |  |  |  |  |  |  |  |  |  |  | (12,392 | )
Stock-based compensation expense |  |  |  |  |  |  |  |  |  |  | 15,471 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 15,471 |
Employee stock purchase plan expense |  |  |  |  |  |  |  |  |  |  | 106 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 106 |
Balances at December 31, 2020 |  |  | 38,765 |  |  | $ | 388 |  |  | $ | 481,004 |  |  | $ | 1,104,762 |  |  | $ | (64,238 | ) |  | $ | 8,938 |  |  | $ | 1,530,854 |
Accumulated Other Comprehensive Income The components of other comprehensive income (loss) consist of changes in foreign currency translation adjustments and changes in net unrealized gains (losses) on derivative instruments designated as cash flow hedges. The Company reclassified $2.9 million, net of taxes, from accumulated other comprehensive income (loss) to earnings during the six months ended December 31, 2021. The Company reclassified $4.2 million, net of taxes, from accumulated other comprehensive income (loss) to earnings during the six months ended December 31, 2020. The accumulated balances related to each component of other comprehensive income (loss) attributable to Bio-Techne, net of tax, are summarized as follows:
|  | Unrealized Gains (Losses) on Derivative Instruments |  |  | Foreign Currency Translation Adjustments |  |  | Total |
Balance as of June 30, 2021 |  | $ | (6,193 | ) |  | $ | (51,098 | ) |  | $ | (57,291 | )
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne |  |  | 1,682 |  |  |  | (6,750 | ) |  |  | (5,068 | )
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) |  |  | 2,884 |  |  | $ | - |  |  | $ | 2,884 |
Balance as of December 31, 2021(2) |  | $ | (1,626 | ) |  |  | (57,848 | ) |  |  | (59,474 | )
|  | Unrealized Gains (Losses) on Derivative Instruments |  |  | Foreign Currency Translation Adjustments |  |  | Total |
Balance as of June 30, 2020 attributable to Bio-Techne |  | $ | (13,253 | ) |  | $ | (83,946 | ) |  | $ | (97,199 | )
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne |  |  | (47 | ) |  |  | 28,759 |  |  |  | 28,712 |
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne (3) |  |  | 4,249 |  |  |  | - |  |  |  | 4,249 |
Balance as of December 31, 2020(2) |  | $ | (9,051 | ) |  | $ | (55,187 | ) |  | $ | (64,238 | )
| (1) | Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $3,777 to interest expense and a related tax benefit of $892 during the six months ended December 31, 2021.
| (2) | The Company had net deferred tax benefits of $502 and $2,886 included in the accumulated other comprehensive income loss as of December 31, 2021 and 2020, respectively.
| (3) | Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $5,026 to interest expense and $512 to non-operating income relating to variable interest payments that were probable not to occur in the six months ended December 31, 2020. The Company also recorded a related tax benefit of $1,289 during the six months ended December 31, 2020.

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