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Segment Information | 12 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Segment Information | Note 13. Segment Information: The Company operates under two operating segments, Protein Sciences and Diagnostics and Genomics. The Company’s Protein Sciences segment is comprised of the reagent solutions division and analytical solutions division. Our Protein Sciences segment is a leading developer and manufacturer of high-quality biological reagents used in all aspects of life science research, diagnostics and cell and gene therapy. This segment also includes proteomic analytical tools, both manual and automated, that offer researchers and pharmaceutical manufacturers efficient and streamlined options for automated western blot and multiplexed ELISA workflow. No customer in the Protein Sciences segment accounted for more than 10% of the segment’s net sales for the years ended June 30, 2024, 2023, and 2022. The Company’s Diagnostics and Genomics segment is comprised of the diagnostics reagents division, spatial biology divsion, and molecular diagnostics division. Our Diagnostics and Genomics segment develops and manufactures diagnostic products, including controls, calibrators, and diagnostic assays for the regulated diagnostics market, exosome-based molecular diagnostic assays, advanced tissue-based in-situ hybridization assays for spatial genomic and tissue biopsy analysis, and genetic and oncology kits for research and clinical applications. No customer in the Diagnostics and Genomics segment accounted for more than 10% of the segment’s net sales for the fiscal years ended June 30, 2024, 2023, and 2022. There are no concentrations of business transacted with a particular customer or supplier or concentrations of revenue from a particular product or geographic area that would severely impact the Company in the near term. Following is financial information relating to the operating segments (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ |  | 2024 |  | 2023 |  | 2022
Net sales: |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Protein Sciences | ​ | $ | 830,902 |  | $ | 845,747 | ​ | $ | 832,311
Diagnostics and Genomics | ​ |  | 326,392 | ​ |  | 292,602 | ​ |  | 274,843
Other revenue(1) | ​ | ​ | 4,153 | ​ | ​ | — | ​ | ​ | —
Intersegment | ​ |  | (2,387) | ​ |  | (1,647) | ​ |  | (1,555)
Consolidated net sales | ​ | $ | 1,159,060 |  | $ | 1,136,702 | ​ | $ | 1,105,599
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Operating income: | ​ |  |  | ​ |  |  | ​ |  |
Protein Sciences | ​ | $ | 354,775 |  | $ | 373,684 | ​ | $ | 377,623
Diagnostics and Genomics | ​ |  | 24,546 | ​ |  | 43,037 | ​ |  | 48,977
Segment operating income | ​ |  | 379,321 | ​ |  | 416,721 | ​ |  | 426,600
Costs recognized on sale of acquired inventory | ​ |  | (729) | ​ |  | (400) | ​ |  | (1,596)
Amortization of intangibles | ​ |  | (78,318) | ​ |  | (76,413) | ​ |  | (73,054)
Impact of partially-owned consolidated subsidiaries(2) | ​ |  | — | ​ |  | 647 | ​ |  | (2,393)
Acquisition related expenses and other | ​ |  | (6,980) | ​ |  | 9,965 | ​ |  | 19,070
Certain Litigation Charges | ​ | ​ | (3,506) | ​ | ​ | — | ​ | ​ | —
Impairment of assets held-for-sale | ​ | ​ | (21,963) | ​ | ​ | — | ​ | ​ | —
Eminence impairment | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (18,715)
Stock based compensation, inclusive of employer taxes | ​ |  | (40,277) | ​ |  | (41,217) | ​ |  | (46,401)
Restructuring and restructuring-related costs | ​ |  | (12,245) | ​ |  | (3,829) | ​ |  | (1,640)
Corporate general, selling, and administrative expenses | ​ |  | (9,142) | ​ |  | (6,530) | ​ |  | (5,281)
Impact of business held-for-sale(1) | ​ | ​ | 525 | ​ | ​ | — | ​ | ​ | —
Consolidated operating income | ​ | $ | 206,686 |  | $ | 298,944 | ​ | $ | 296,590
| (1) | Since December 31, 2023, the Company has a business that has met the held-for-sale criteria. For the year ended June 30, 2024, includes the six-month results of this business held-for-sale for the period starting December 31, 2023 through June 30, 2024 while the business has met the held-for-sale criteria.
| (2) | Includes the annual results of the partially-owned consolidated subsidiary prior to the sale of this partially-owned consolidated subsidiary to a third party in the first fiscal quarter of 2023.
​ The Company has some integrated facilities that serve both segments. As such, asset and capital expenditure information by operating segment has not been provided and is not available, since the Company does not produce or utilize such information internally. In addition, although depreciation and amortization expense is a component of each operating segment’s operating results, it is not discretely identifiable. The Company has disclosed sales by geographic area based on the location of the customer or distributor in Note 2. The Company has disclosed dis-aggregated product and service revenue by consumables, instruments, and services in Note 2. The Company considers total instrument and total service revenue to represent similar groups of products in the fiscal years presented. The Company considers our consumables sold in the Protein Sciences and Diagnostics and Genomics segments to represent different groups of products and therefore have separately disclosed the related consumables revenue (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended June 30,
​ |  | 2024 |  | 2023 |  | 2022
Consumables revenue - Protein Sciences | ​ | $ | 657,679 | ​ | $ | 665,301 | ​ | $ | 646,952
Consumables revenue - Diagnostics and Genomics | ​ |  | 266,348 | ​ |  | 252,432 | ​ |  | 243,922
Consumables revenue - Other revenue(1) | ​ | ​ | 4,153 | ​ | ​ | — | ​ | ​ | —
Total consumable revenue | ​ | $ | 928,180 | ​ | $ | 917,733 | ​ | $ | 890,874
​ (1)Includes the results of a business that has met the held-for-sale criteria since December 31, 2023. ​ The following is financial information relating to geographic areas (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30,
​ |  | 2024 |  | 2023
Long-lived assets: | ​ | ​ | ​ | ​ | ​ | ​
United States and Canada | ​ | $ | 211,597 |  | $ | 203,657
Europe |  |  | 27,862 | ​ |  | 19,263
Asia | ​ |  | 11,695 | ​ |  | 3,280
Total long-lived assets | ​ | $ | 251,154 |  | $ | 226,200
Intangible assets: | ​ |  |  | ​ |  |
United States and Canada | ​ | $ | 443,740 |  | $ | 529,652
Europe | ​ |  | 63,138 | ​ |  | 4,553
Asia | ​ |  | 203 | ​ |  | 440
Total intangible assets | ​ | $ | 507,081 |  | $ | 534,645
​ Long-lived assets are comprised of land, buildings and improvements and equipment, net of accumulated depreciation.

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- Definition The entire disclosure for reporting segments including data and tables. 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