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Supplemental Balance Sheet and Cash Flow Information | 12 Months Ended
--- | ---
Jun. 30, 2025
Supplemental Balance Sheet and Cash Flow Information |
Supplemental Balance Sheet and Cash Flow Information | Note 3. Supplemental Balance Sheet and Cash Flow Information: Inventories: Inventories consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30,
​ | ​ | 2025 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Raw materials | ​ | $ | 89,080 | ​ | $ | 79,377
Finished goods(1) | ​ |  | 106,188 | ​ |  | 106,072
Inventories, net | ​ | $ | 195,268 | ​ | $ | 185,449
(1) | Finished goods inventory of $5,822 and $5,718 is included within Other assets in the June 30, 2025 and 2024 Consolidated Balance Sheets, respectively, as it is forecasted to be sold after the 12 months subsequent to the Consolidated Balance Sheets dates.
Property and Equipment: Property and equipment consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30,
​ |  | 2025 |  | 2024
Land | ​ | $ | 8,151 | ​ | $ | 8,150
Buildings and improvements | ​ |  | 254,355 | ​ |  | 243,863
Machinery and equipment | ​ | ​ | 245,924 | ​ |  | 215,948
Construction in progress | ​ |  | 23,420 | ​ | ​ | 39,749
Property and equipment, cost | ​ |  | 531,850 | ​ |  | 507,710
Accumulated depreciation and amortization | ​ |  | (286,131) | ​ |  | (256,556)
Property and equipment, net | ​ | $ | 245,719 | ​ | $ | 251,154
​ Depreciation expense was $34.6 million, $31.9 million, and $29.7 million in fiscal 2025, 2024, and 2023, respectively. Intangible assets were comprised of the following (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Useful Life | ​ | June 30,
​ | ​ | (years) | ​ | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Developed technology |  | 9 - 15 | ​ | $ | 620,062 | ​ | $ | 675,674
Trade names |  | 2 - 15 | ​ |  | 152,648 | ​ |  | 151,561
Customer relationships |  | 7 - 16 | ​ |  | 212,800 | ​ |  | 211,276
Patents |  | 10 | ​ |  | 4,967 | ​ |  | 4,343
Other intangibles |  | 5 - 15 | ​ |  | 7,174 | ​ |  | 12,006
Definite-lived intangible assets | ​ | ​ | ​ |  | 997,651 | ​ |  | 1,054,860
Accumulated amortization | ​ | ​ | ​ |  | (632,052) | ​ |  | (547,779)
Total intangible assets, net | ​ | ​ | ​ | $ | 365,599 | ​ | $ | 507,081
​ Changes to the carrying amount of net intangible assets consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30,
​ | ​ | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | $ | 507,081 | ​ | $ | 534,645
Acquisitons | ​ | ​ | — | ​ | ​ | 66,400
Other additions | ​ |  | 547 | ​ |  | 950
Amortization expense | ​ |  | (76,043) | ​ |  | (79,854)
Restructuring impairment(1) | ​ | ​ | (73,350) | ​ | ​ | (14,323)
Currency translation | ​ | ​ | 7,364 | ​ | ​ | (737)
Ending balance | ​ | $ | 365,599 | ​ | $ | 507,081
(1) | Refer to Note 14 for further detail on held-for-sale intangibles.
Amortization expense related to developed technologies included in Cost of sales was $44.0 million, $46.6 million, and $44.3 million in fiscal 2025, 2024, and 2023, respectively. Amortization expense related to trade names, customer relationships, non-compete agreements, and patents included in Selling, general and administrative expense was $31.3 million, $33.2 million, and $33.2 million, in fiscal 2025, 2024, and 2023, respectively. The estimated future amortization expense for intangible assets as of June 30, 2025 is as follows (in thousands):
​ | ​ | ​ | ​
2026 |  | $ | 61,798
2027 | ​ |  | 58,705
2028 | ​ |  | 54,974
2029 | ​ |  | 40,876
2030 | ​ |  | 26,917
Thereafter | ​ |  | 122,329
Total | ​ | $ | 365,599
​ Goodwill: ​ Changes in goodwill by segment and in total consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Diagnostics and |  | ​
​ | ​ | Protein Sciences | ​ | Spatial Biology | ​ | Total
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
Held-for-sale goodwill(1) | ​ | ​ | — | ​ | ​ | (4,488) | ​ | ​ | (4,488)
Currency translation | ​ |  | 3,327 | ​ | ​ | 9,433 | ​ | ​ | 12,760
June 30, 2025 | ​ | $ | 426,776 | ​ | $ | 554,159 | ​ | $ | 980,935
(1) | Refer to Note 14 for further detail on goodwill reclassified to current assets held-for-sale.
Other Assets: ​ Other assets consist of (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30,
​ |  | 2025 | ​ | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​
Equity method investment in Wilson Wolf | ​ | $ | 235,983 | ​ | $ | 242,337
Derivative instruments | ​ | ​ | 2,843 | ​ | ​ | 9,813
Long-term inventory | ​ | ​ | 5,822 | ​ | ​ | 5,718
Investment in Spear Bio | ​ | ​ | 15,000 | ​ | ​ | —
Other | ​ |  | 13,961 | ​ |  | 6,397
Other assets | ​ | $ | 273,609 | ​ | $ | 264,265
​ Supplemental Cash Flow Information: Supplemental cash flow information is as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Year Ended June 30,
​ |  | 2025 |  | 2024 |  | 2023
Income taxes paid | ​ | $ | 74,357 | ​ | $ | 65,254 | ​ | $ | 88,428
Interest paid | ​ |  | 18,955 | ​ |  | 14,502 | ​ |  | 8,368
​

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