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Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended
--- | ---
Jun. 30, 2024
Notes to Financial Statements |
Supplemental Balance Sheet and Cash Flow Information | Note 3. Supplemental Balance Sheet and Cash Flow Information: Inventories: Inventories consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ | ​ | 2024 |  | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​
Raw materials | ​ | $ | 79,377 | ​ | $ | 84,551
Finished goods(1) | ​ |  | 106,072 | ​ |  | 92,474
Inventories, net | ​ | $ | 185,449 | ​ | $ | 177,025
(1) | Finished goods inventory of $5,718 and $5,387 is included within Other assets in the June 30, 2024 and June 30, 2023 Balance Sheets, respectively, as it is forecasted to be sold after the 12 months subsequent to the consolidated balance sheet date.
Property and Equipment: Property and equipment consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ | ​ | 2024 |  | 2023
Land | ​ | $ | 8,150 | ​ | $ | 9,100
Buildings and improvements | ​ |  | 243,863 | ​ |  | 245,302
Machinery and equipment | ​ | ​ | 215,948 | ​ |  | 190,019
Construction in progress | ​ |  | 39,749 | ​ | ​ | 15,491
Property and equipment, cost | ​ |  | 507,710 | ​ |  | 459,912
Accumulated depreciation and amortization | ​ |  | (256,556) | ​ |  | (233,712)
Property and equipment, net | ​ | $ | 251,154 | ​ | $ | 226,200
​ Intangibles assets were comprised of the following (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Useful Life | ​ | June 30,
​ | ​ | (years) | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Developed technology |  | 9 - 15 | ​ | $ | 675,674 | ​ | $ | 616,311
Tradenames |  | 2 - 20 | ​ |  | 151,561 | ​ |  | 146,945
Customer relationships |  | 7 - 16 | ​ |  | 211,276 | ​ |  | 213,878
Patents |  | 10 | ​ |  | 4,343 | ​ |  | 3,815
Other intangibles |  | 5 - 15 | ​ |  | 12,006 | ​ |  | 11,566
Definite-lived intangible assets | ​ | ​ | ​ |  | 1,054,860 | ​ |  | 992,515
Accumulated amortization | ​ | ​ | ​ |  | (547,779) | ​ |  | (480,570)
Definite-lived intangibles assets, net | ​ | ​ | ​ |  | 507,081 | ​ |  | 511,945
In process research and development(1) | ​ | ​ | ​ |  | — | ​ |  | 22,700
Total intangible assets, net | ​ | ​ | ​ | $ | 507,081 | ​ | $ | 534,645
​ (1)The in process research and development has been placed into service and is included within Developed technology. The amortization period for this developed technology asset is estimated to be 14 years. Changes to the carrying amount of net intangible assets consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30,
​ | ​ | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 534,645 | ​ | $ | 531,522
Acquisitions | ​ |  | 66,400 | ​ |  | 75,600
Other additions(1) | ​ |  | 950 | ​ |  | 5,710
Held-for-sale intangibles(2) | ​ | ​ | (14,323) | ​ | ​ | —
Amortization expense | ​ |  | (79,854) | ​ |  | (77,491)
Currency translation | ​ | ​ | (737) | ​ | ​ | (696)
Ending balance | ​ | $ | 507,081 | ​ | $ | 534,645
​ (1)Includes the purchase of a $4.6 million intangible asset from Wilson Wolf, an equity method investee of the Company during the year-ended June 30, 2023. This asset will be amortized over a life of 10 years. (2)Refer to Note 1 for further detail on held-for-sale intangibles. Amortization expense related to developed technologies included in cost of sales was $46.6 million, $44.3 million, and $40.6 million in fiscal 2024, 2023, and 2022, respectively. Amortization expense related to trade names, customer relationships, non-compete agreements, and patents included in selling, general and administrative expense was $33.2 million, $33.2 million, and $33.5 million, in fiscal 2024, 2023, and 2022 respectively. The estimated future amortization expense for intangible assets as of June 30, 2024 is as follows (in thousands):
​ | ​ | ​ | ​
2025 |  | $ | 77,259
2026 | ​ |  | 73,297
2027 | ​ |  | 63,138
2028 | ​ |  | 59,491
2029 | ​ |  | 46,923
Thereafter | ​ |  | 186,973
Total | ​ | $ | 507,081
​ Goodwill: ​ Changes in goodwill by segment and in total consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Diagnostics and |  | ​
​ | ​ | Protein Sciences | ​ | Genomics | ​ | Total
June 30, 2022 |  | $ | 376,493 | ​ | $ | 445,608 | ​ | $ | 822,101
Acquisitions | ​ |  | 51,257 | ​ | ​ | — | ​ |  | 51,257
Currency translation | ​ |  | (723) | ​ | ​ | 102 | ​ |  | (621)
June 30, 2023 | ​ | $ | 427,027 | ​ | $ | 445,710 | ​ | $ | 872,737
Acquisitions | ​ |  | — | ​ | ​ | 104,650 | ​ | ​ | 104,650
Held-for-sale goodwill(1) | ​ | ​ | (1,400) | ​ | ​ | — | ​ | ​ | (1,400)
Currency translation | ​ |  | (2,178) | ​ | ​ | (1,146) | ​ | ​ | (3,324)
June 30, 2024 | ​ | $ | 423,449 | ​ | $ | 549,214 | ​ | $ | 972,663
​ (1) Refer to Note 1 for further detail on goodwill reclassified to current assets held-for-sale. Other Assets: ​ Other assets consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30,
​ |  | 2024 | ​ | 2023
​ | ​ | ​ | ​ | ​ | ​ | ​
Equity method investment in Wilson Wolf | ​ | $ | 242,337 | ​ | $ | 255,857
Derivative instruments | ​ | ​ | 9,813 | ​ | ​ | 16,857
Long-term inventory | ​ | ​ | 5,718 | ​ | ​ | 5,387
Other | ​ |  | 6,397 | ​ |  | 7,201
Other assets | ​ | $ | 264,265 | ​ | $ | 285,302
​ Supplemental Cash Flow Information: Supplemental cash flow information was as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended June 30,
​ |  | 2024 |  | 2023 |  | 2022
Income taxes paid | ​ | $ | 65,254 | ​ | $ | 88,428 | ​ | $ | 30,341
Interest paid | ​ |  | 14,502 | ​ |  | 8,368 | ​ |  | 11,027
​

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