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Supplemental Equity and Accumulated Other Comprehensive Income (Loss) | 9 Months Ended
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Mar. 31, 2023
Notes to Financial Statements |
Supplemental Equity and Accumulated Other Comprehensive Income (Loss) | Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (Loss): Supplemental Equity The Company has declared cash dividends per share of $0.08 and $0.24 in both the three and nine months ended March 31, 2023 and 2022, 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, 2022 |  | 156,644 | ​ | $ | 1,566 | ​ | $ | 652,467 | ​ | $ | 1,122,937 | ​ | $ | (75,200) | ​ | $ | (759) | ​ | $ | 1,701,011
Net earnings |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | 89,555 | ​ |  | ​ | ​ |  | 179 | ​ |  | 89,734
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | (16,762) | ​ |  | ​ | ​ |  | (16,762)
Reclassification of cumulative translation adjustment for Eminence to non-operating income | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 152 | ​ | ​ | (33) | ​ | ​ | 119
Elimination of noncontrolling equity interest from sale of Eminence |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | 613 | ​ |  | 613
Share repurchases |  | (222) | ​ |  | (2) | ​ |  | ​ | ​ |  | (19,560) | ​ |  | ​ | ​ |  | ​ | ​ |  | (19,562)
Common stock issued for exercise of options |  | 425 | ​ |  | 5 | ​ |  | 9,418 | ​ |  | (11,428) | ​ |  | ​ | ​ |  | ​ | ​ |  | (2,005)
Common stock issued for restricted stock awards |  | 45 | ​ | ​ | 0 | ​ |  | 0 | ​ |  | (6,427) | ​ |  | ​ | ​ |  | ​ | ​ |  | (6,427)
Cash dividends |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | (12,545) | ​ |  | ​ | ​ |  | ​ | ​ |  | (12,545)
Stock-based compensation expense |  | ​ | ​ |  | ​ | ​ |  | 14,364 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | 14,364
Common stock issued to employee stock purchase plan |  | 36 | ​ | ​ | 0 | ​ |  | 2,517 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | 2,517
Employee stock purchase plan expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 97 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 97
Balances at September 30, 2022 |  | 156,928 | ​ | $ | 1,569 | ​ | $ | 678,863 | ​ | $ | 1,162,532 | ​ | $ | (91,810) | ​ | $ | — | ​ | $ | 1,751,154
Net earnings |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 50,005 | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 50,005
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 16,685 | ​ | ​ | ​ | ​ | ​ | 16,685
Share repurchases |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Common stock issued for exercise of options |  | 155 | ​ | ​ | 1 | ​ | ​ | 5,074 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 5,075
Common stock issued for restricted stock awards |  | 11 | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 2
Cash dividends |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12,561) | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (12,561)
Stock-based compensation expense |  | ​ | ​ | ​ | ​ | ​ | ​ | 16,413 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 16,413
Common stock issued to employee stock purchase plan |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Employee stock purchase plan expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 333 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 333
Balances at December 31, 2022 |  | 157,094 | ​ | $ | 1,571 | ​ | $ | 700,684 | ​ | $ | 1,199,976 | ​ | $ | (75,125) | ​ | $ | — | ​ | $ | 1,827,106
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 70,218 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 70,218
Other comprehensive income (loss) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,574 | ​ | ​ | ​ | ​ | ​ | 1,574
Common stock issued for exercise of options | ​ | 201 | ​ | ​ | 2 | ​ | ​ | 1,871 | ​ | ​ | (10,733) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (8,860)
Common stock issued for restricted stock awards | ​ | 6 | ​ | ​ | 0 | ​ | ​ | 0 | ​ | ​ | (267) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (267)
Cash dividends | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12,582) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (12,582)
Stock-based compensation expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 9,995 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 9,995
Common stock issued to employee stock purchase plan | ​ | 38 | ​ | ​ | 0 | ​ | ​ | 2,389 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2,389
Employee stock purchase plan expense | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 113 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 113
Balances at March 31, 2023 |  | 157,339 | ​ | $ | 1,573 | ​ | $ | 715,052 | ​ | $ | 1,246,612 | ​ | $ | (73,551) | ​ | $ | — | ​ | $ | 1,889,686
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | 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 |  | 155,822 | ​ | $ | 1,558 | ​ | $ | 533,239 | ​ | $ | 1,085,465 | ​ | $ | (57,291) | ​ | $ | 8,263 | ​ | $ | 1,571,234
Net earnings | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 69,615 | ​ | ​ | ​ | ​ | ​ | (634) | ​ | ​ | 68,981
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | (6,925) | ​ |  | (39) | ​ |  | (6,964)
Common stock issued for exercise of options |  | 1,178 | ​ |  | 12 | ​ |  | 36,336 | ​ |  | (13,481) | ​ |  | ​ | ​ |  | ​ | ​ |  | 22,867
Common stock issued for restricted stock awards |  | 79 | ​ |  | 1 | ​ |  | (1) | ​ |  | (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 |  | 13 | ​ |  | 0 | ​ |  | 1,358 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | 1,358
Employee stock purchase plan expense |  | ​ | ​ | ​ | ​ | ​ |  | 341 | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | 341
Balances at September 30, 2021 |  | 157,092 | ​ | $ | 1,571 | ​ | $ | 582,669 | ​ | $ | 1,119,341 | ​ | $ | (64,216) | ​ | $ | 7,590 | ​ | $ | 1,646,955
Non-controlling interest in Eminence | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | —
Net earnings |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 80,173 | ​ |  | ​ | ​ |  | (8,114) | ​ |  | 72,059
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4,742 | ​ |  | 66 | ​ |  | 4,808
Share repurchases | ​ | (357) | ​ | ​ | (4) | ​ | ​ | ​ | ​ | ​ | (41,290) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (41,294)
Common stock issued for exercise of options |  | 538 | ​ |  | 6 | ​ |  | 18,599 | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 18,605
Common stock issued for restricted stock awards |  | 6 | ​ |  | 0 | ​ | ​ | 0 | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 0
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 |  | 157,279 | ​ | $ | 1,573 | ​ | $ | 615,242 | ​ | $ | 1,145,648 | ​ | $ | (59,474) | ​ | $ | (458) | ​ | $ | 1,702,531
Net earnings |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 60,739 | ​ |  | ​ | ​ |  | (595) | ​ |  | 60,144
Other comprehensive income (loss) |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | 4,329 | ​ |  | (1) | ​ |  | 4,328
Share repurchases | ​ | (580) | ​ | ​ | (5) | ​ | ​ | ​ | ​ | ​ | (60,833) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | (60,838)
Common stock issued for exercise of options |  | 337 | ​ |  | 3 | ​ |  | 10,492 | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | 10,495
Common stock issued for restricted stock awards |  | 3 | ​ |  | 0 | ​ |  | 0 | ​ |  | (159) | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (159)
Cash dividends |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ |  | (12,577) | ​ |  | ​ | ​ | ​ | ​ | ​ |  | (12,577)
Stock-based compensation expense |  | ​ | ​ | ​ | ​ | ​ |  | 8,043 | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | 8,043
Common stock issued to employee stock purchase plan | ​ | 15 | ​ | ​ | 0 | ​ | ​ | 1,330 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 1,330
Employee stock purchase plan expense |  | ​ | ​ | ​ | ​ | ​ |  | 25 | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | 25
Balances at March 31, 2022 |  | 157,054 | ​ | $ | 1,571 | ​ | $ | 635,132 | ​ | $ | 1,132,818 | ​ | $ | (55,145) | ​ | $ | (1,054) | ​ | $ | 1,713,322
​ ​ ​ 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 a $1.7 million gain, net of taxes, from accumulated other comprehensive income (loss) to earnings during the nine months ended March 31, 2023. The Company reclassified a $4.0 million loss, net of taxes, from accumulated other comprehensive income (loss) to earnings during the nine months ended March 31, 2022. The accumulated balances related to each component of other comprehensive income (loss) attributable to Bio-Techne, net of tax, are summarized as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gains | ​ | Foreign | ​ | ​ | ​
​ | ​ | (Losses) on | ​ | Currency | ​ | ​ | ​
​ | ​ | Derivative | ​ | Translation | ​ | ​ | ​
​ |  | Instruments |  | Adjustments |  | Total
Balance as of June 30, 2022 | ​ | $ | 8,069 | ​ | $ | (83,269) | ​ | $ | (75,200)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne | ​ |  | 4,172 | ​ |  | (805) | ​ |  | 3,367
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) | ​ |  | (1,870) | ​ | ​ | ​ | ​ | ​ | (1,870)
Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne | ​ | ​ | — | ​ | ​ | 152 | ​ | ​ | 152
Balance as of March 31, 2023(2) | ​ | $ | 10,371 | ​ | $ | (83,922) | ​ | $ | (73,551)
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Unrealized | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gains | ​ | Foreign | ​ | ​ | ​
​ | ​ | (Losses) on | ​ | Currency | ​ | ​ | ​
​ | ​ | Derivative | ​ | Translation | ​ | ​ | ​
​ |  | Instruments |  | Adjustments |  | Total
Balance as of June 30, 2021 attributable to Bio-Techne | ​ | $ | (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 (gain) 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)
​
| (1) | (Gains)/losses on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $2,445 to interest income and recorded a related tax expense of $575 during the nine months ended March 31, 2023. The Company reclassified $5,214 to interest expense and 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 $3,186 and $1,706 included in the accumulated other comprehensive income loss as of March 31, 2023 and 2022, respectively.
​

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