XML 23 R13.htm IDEA: XBRL DOCUMENT
v3.22.1

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) | 9 Months Ended
--- | ---
Mar. 31, 2022
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 $0.96 in both the three and nine months ended March 31, 2022 and 2021, 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
Net earnings |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 60,739 | ​ |  | ​ | ​ |  | (595) | ​ |  | 60,144
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 4,329 | ​ |  | (1) | ​ |  | 4,328
Share repurchases |  | (145) | ​ |  | (1) | ​ |  | ​ | ​ |  | (60,837) | ​ |  |  | ​ |  |  | ​ |  | (60,838)
Common stock issued for exercise of options |  | 84 | ​ |  | 1 | ​ |  | 10,494 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 10,495
Common stock issued for restricted stock awards |  | 1 | ​ |  | ​ | ​ |  | ​ | ​ |  | (159) | ​ |  |  | ​ |  |  | ​ |  | (159)
Cash dividends |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (12,577) | ​ |  | ​ | ​ |  |  | ​ |  | (12,577)
Stock-based compensation expense |  | ​ | ​ | ​ | ​ | ​ |  | 8,043 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 8,043
Common stock issued to employee stock purchase plan |  | 4 | ​ |  | ​ | ​ |  | 1,330 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 1,330
Employee stock purchase plan expense |  | ​ | ​ | ​ | ​ | ​ |  | 25 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 25
Balances at March 31, 2022 |  | 39,263 | ​ | ​ | 393 | ​ | ​ | 636,321 | ​ | ​ | 1,132,807 | ​ | ​ | (55,145) | ​ | ​ | (1,054) | ​ | ​ | 1,713,322
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 | ​ |  |  | ​ |  |  | ​ |  | —
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
Net earnings |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | 45,782 | ​ |  | ​ | ​ |  | (380) | ​ |  | 45,402
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  | 215 | ​ |  | (69) | ​ |  | 146
Share repurchases | ​ | (120) | ​ | ​ | (1) | ​ | ​ | ​ | ​ | ​ | (43,177) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (43,178)
Common stock issued for exercise of options |  | 195 | ​ |  | 2 | ​ |  | 21,324 | ​ |  | (4,332) | ​ |  |  | ​ |  |  | ​ |  | 16,994
Common stock issued for restricted stock awards |  | 10 | ​ |  | 0 | ​ |  | (0) | ​ |  | (1,801) | ​ |  |  | ​ |  |  | ​ |  | (1,801)
Cash dividends |  | ​ | ​ | ​ | ​ | ​ |  |  | ​ |  | (12,446) | ​ |  | ​ | ​ |  |  | ​ |  | (12,446)
Stock-based compensation expense |  | ​ | ​ | ​ | ​ | ​ |  | 10,232 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 10,232
Common stock issued to employee stock purchase plan | ​ | 4 | ​ | ​ | 0 | ​ | ​ | 1,328 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,328
Employee stock purchase plan expense |  | ​ | ​ | ​ | ​ | ​ |  | 411 | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  | 411
Balances at March 31, 2021 |  | 38,854 | ​ | $ | 389 | ​ | $ | 514,299 | ​ | $ | 1,088,788 | ​ | $ | (64,023) | ​ | $ | 8,489 | ​ | $ | 1,547,942
​ ​ ​ 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 $4.0 million, net of taxes, from accumulated other comprehensive income (loss) to earnings during the nine months ended March 31, 2022. The Company reclassified $5.5 million, net of taxes, from accumulated other comprehensive income (loss) to earnings during the nine months ended March 31, 2021. 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 | ​ | Foreign | ​ | ​ | ​
​ | ​ | (Losses) on | ​ | Currency | ​ | ​ | ​
​ | ​ | Derivative | ​ | Translation | ​ | ​ | ​
​ |  | Instruments |  | 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 | ​ |  | 7,757 | ​ |  | (9,599) | ​ |  | (1,842)
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) | ​ |  | 3,988 | ​ | $ | — | ​ | $ | 3,988
Balance as of March 31, 2022 (2) | ​ | $ | 5,552 | ​ | ​ | (60,697) | ​ | ​ | (55,145)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gains | ​ | Foreign | ​ | ​ | ​
​ | ​ | (Losses) on | ​ | Currency | ​ | ​ | ​
​ | ​ | Derivative | ​ | Translation | ​ | ​ | ​
​ |  | Instruments |  | 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 | ​ |  | (13) | ​ |  | 27,686 | ​ |  | 27,673
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(3) | ​ |  | 5,503 | ​ |  | — | ​ |  | 5,503
Balance as of March 31, 2021 (2) | ​ | $ | (7,763) | ​ | $ | (56,260) | ​ | $ | (64,023)
​
| (1) | Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $5,214 to interest expense and recorded a related tax benefit of $1,226 during the nine months ended March 31, 2022.
| (2) | The Company had a net deferred tax liability of $1,706 and a net deferred tax benefit of $2,394 included in the accumulated other comprehensive income loss as of March 31, 2022 and 2021, respectively.
| (3) | Gains (losses) on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $6,662 to interest expense and $512 to non-operating income relating to variable interest payments that were probable not to occur in the nine months ended March 31, 2021. The Company also recorded a related tax benefit of $1,670 during the nine months ended March 31, 2021.

X
- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
Name: | us-gaap_ComprehensiveIncomeNoteTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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