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Description of Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Jun. 30, 2024
Notes Tables |
Schedule of restructuring charges | The restructuring and restructuring-related charges, including the impairment of assets held-for-sale, for periods presented were recorded in the Consolidated Statements of Earnings as follows (in thousands):
​ | ​ | ​ | ​
​ | ​ | Year Ended
​ | ​ | June 30,
​ | ​ | 2024
Cost of sales | ​ | $ | 3,349
Selling, general and administrative(1) | ​ | ​ | 30,638
Total | ​ | $ | 33,987
​ | ​ | ​ | ​
(1) Restructuring actions impacting research and development are not material to separately disclose and have been included within Selling, general and administrative costs. Restructuring and restructuring-related costs by segment are as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year ended June 30, 2024
​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | Impairment of | ​ | ​ | ​
​ | ​ | ​ | severance | ​ | ​ | and other | ​ | ​ | assets held-for-sale | ​ | ​ | Total
Protein Sciences | ​ | $ | 3,483 | ​ | $ | 5,130 | ​ | $ | 21,963 | ​ | $ | 30,576
Diagnostics and Genomics | ​ | ​ | 1,007 | ​ | ​ | 224 | ​ | ​ | — | ​ | ​ | 1,231
Corporate | ​ | ​ | 1,153 | ​ | ​ | 1,027 | ​ | ​ | — | ​ | ​ | 2,180
Total | ​ | $ | 5,643 | ​ | $ | 6,381 | ​ | $ | 21,963 | ​ | $ | 33,987
​ The following table summarizes the changes in the Company’s accrued restructuring balance, which is included within Other current liabilities in the accompanying balance sheet. Other amounts reported as restructuring and restructuring-related costs in the accompanying statements of income have been summarized in the notes to the table (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Employee | ​ | ​ | Asset-related | ​ | ​ | Impairment of | ​ | ​ | ​
​ | ​ | ​ | severance(1) | ​ | ​ | and other(2) | ​ | ​ | assets held-for-sale | ​ | ​ | Total
Expense incurred in the second quarter of 2024 | ​ | ​ | 4,882 | ​ | ​ | 504 | ​ | ​ | 6,038 | ​ | ​ | 11,424
Incremental expense incurred in the third quarter of 2024 | ​ | ​ | 133 | ​ | ​ | 1,140 | ​ | ​ | — | ​ | ​ | 1,273
Incremental expense incurred in the fourth quarter of 2024 | ​ | ​ | 409 | ​ | ​ | 4,737 | ​ | ​ | 15,926 | ​ | ​ | 21,072
Cash payments | ​ | ​ | (4,882) | ​ | ​ | (2,800) | ​ | ​ | — | ​ | ​ | (7,682)
Non-cash adjustments | ​ | ​ | — | ​ | ​ | (3,391) | ​ | ​ | (21,963) | ​ | ​ | (25,354)
Adjustments(3) | ​ | ​ | 219 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 219
Accrued restructuring actions balance as of June 30, 2024 | ​ | $ | 761 | ​ | $ | 190 | ​ | $ | — | ​ | $ | 952
(1) Relates to impacted employees’ final paycheck, separation payments, outplacement services, legal fees, and retention packages related to the closure or sale of certain distribution and manufacturing sites. (2) Primarily relates to impairment of right-of-use assets, lease termination fees, consulting fees, and expenses for changes to supporting IT systems that are enabling the Company to complete the restructuring initiatives. (3) Relates to the refinement of the accrual recorded in the second quarter of fiscal 2024.
Protein Sciences | QT Holdings Corporation |
Notes Tables |
Schedule of restructuring charges | The related restructuring charges for the year ended June 30, 2023 were recorded in the income statement as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance |  | impairment and other |  | Total
Selling, general and administrative | ​ | $ | 1,328 | ​ | $ | 842 | ​ | $ | 2,170
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance |  | impairment and other |  | Total
Expense incurred in the first quarter of 2023 | ​ | $ | 1,328 | ​ | $ | 842 | ​ | $ | 2,170
Cash payments | ​ | ​ | (1,233) | ​ | ​ | (772) | ​ | ​ | (2,005)
Adjustments | ​ | ​ | (95) | ​ | ​ | (70) | ​ | ​ | (165)
Accrued restructuring actions balances as of June 30, 2023 | ​ | $ | — | ​ | $ | — | ​ | $ | —
Protein Sciences | Employee severance |
Notes Tables |
Schedule of restructuring charges | tax charges for the year ended June 30, 2024 were $0.2 million. Restructuring actions, including cash and non-cash impacts, are as follows (in thousands):
​ | ​ | ​ | ​
​ | ​ | Employee
​ | ​ | severance
Expense incurred in fiscal year 2023 | ​ | $ | 1,677
Fiscal year 2023 cash payments | ​ | ​ | (762)
Fiscal year 2023 adjustments | ​ | ​ | (18)
Accrued restructuring actions balances as of June 30, 2023 | ​ | $ | 897
Fiscal year 2024 cash payments | ​ | ​ | (1,118)
Fiscal year 2024 adjustments(1) | ​ | ​ | 221
Accrued restructuring actions balances as of June 30, 2024 | ​ | $ | —
(1)Fiscal year 2024 adjustments relate to the refinement of the accrual recorded in fiscal year 2023.
Diagnostics and Genomics |
Notes Tables |
Schedule of restructuring charges | Total restructuring charges for the closure of the Exosome Diagnostics Germany facility for the year ended June 30, 2022 were recorded within operating income on the income statement as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance |  | impairment and other |  | Total
Selling, general and administrative | ​ | $ | 649 | ​ | $ | 750 | ​ | $ | 1,399
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Employee | ​ | Asset | ​ | ​
​ |  | severance |  | impairment and other |  | Total
Expense incurred in the first quarter of 2022 | ​ | $ | 639 | ​ | $ | 546 | ​ | $ | 1,185
Incremental expense incurred during fiscal 2022 | ​ | ​ | — | ​ | ​ | 242 | ​ | ​ | 242
Cash payments | ​ | ​ | (589) | ​ | ​ | (554) | ​ | ​ | (1,143)
Adjustments | ​ | ​ | (50) | ​ | ​ | (234) | ​ | ​ | (284)
Accrued restructuring actions balances as of June 30, 2022 | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ (1) Adjustments include refinements to our estimated close down costs as well as the impacts from foreign currency exchange.

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