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Balance Sheets-Additional Information | 12 Months Ended
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Jun. 30, 2017
Balance Sheets Additional Information [Abstract] |
Balance Sheets-Additional Information | 4. Balance Sheets—Additional Information
As of June 30 |  |  | 2017 |  |  | 2016 |
Accounts receivable, net |  |  |  |  |  |  |  |  |  |  |  |  |
Trade accounts receivable |  |  |  | $ | 132,275 |  |  |  |  | $ | 128,743 |  |
Allowance for doubtful accounts |  |  |  |  | (6,428) |  |  |  |  |  | (4,953) |  |
|  |  |  | $ | 125,847 |  |  |  |  | $ | 123,790 |  |
As of June 30 |  |  | 2017 |  |  | 2016 |  |  | 2015 |
Allowance for doubtful accounts |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  | $ | 4,953 |  |  |  |  | $ | 3,378 |  |  |  |  | $ | 1,235 |  |
Provision for bad debts |  |  |  |  | 1,412 |  |  |  |  |  | 1,774 |  |  |  |  |  | 2,587 |  |
Effect of changes in exchange rates |  |  |  |  | 159 |  |  |  |  |  | (132) |  |  |  |  |  | (218) |  |
Bad debt write-offs (recovery) |  |  |  |  | (96) |  |  |  |  |  | (67) |  |  |  |  |  | (226) |  |
Balance at end of period |  |  |  | $ | 6,428 |  |  |  |  | $ | 4,953 |  |  |  |  | $ | 3,378 |  |
As of June 30 |  |  | 2017 |  |  | 2016 |
Inventories |  |  |  |  |  |  |  |  |  |  |  |  |
Raw materials |  |  |  | $ | 54,861 |  |  |  |  | $ | 51,369 |  |
Work-in-process |  |  |  |  | 12,402 |  |  |  |  |  | 8,074 |  |
Finished goods |  |  |  |  | 93,970 |  |  |  |  |  | 108,248 |  |
|  |  |  | $ | 161,233 |  |  |  |  | $ | 167,691 |  |
As of June 30 |  |  | 2017 |  |  | 2016 |
Property, plant and equipment, net |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  |  | $ | 9,584 |  |  |  |  | $ | 9,612 |  |
Buildings and improvements |  |  |  |  | 65,958 |  |  |  |  |  | 64,265 |  |
Machinery and equipment |  |  |  |  | 212,589 |  |  |  |  |  | 196,480 |  |
|  |  |  |  | 288,131 |  |  |  |  |  | 270,357 |  |
Accumulated depreciation |  |  |  |  | (160,780) |  |  |  |  |  | (143,034) |  |
|  |  |  | $ | 127,351 |  |  |  |  | $ | 127,323 |  |
Certain facilities in Israel are on leased land. The leases expire in 2023, 2035 and 2062. Property, plant and equipment, net includes internal-use software costs, net of accumulated depreciation, of $3,558 and $5,180 at June 30, 2017 and 2016, respectively. Machinery and equipment includes construction-in-progress of $2,690 and $5,595 at June 30, 2017 and 2016, respectively.
As of June 30 |  |  | Weighted- Average Useful Life (Years) |  |  | 2017 |  |  | 2016 |
Intangibles, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medicated feed additive product registrations |  |  |  |  | 10 |  |  |  |  | $ | 10,400 |  |  |  |  | $ | 11,744 |  |
Amprolium international marketing rights |  |  |  |  | 10 |  |  |  |  |  | 4,292 |  |  |  |  |  | 4,292 |  |
Customer relationships |  |  |  |  | 13 |  |  |  |  |  | 10,616 |  |  |  |  |  | 10,606 |  |
Technology |  |  |  |  | 13 |  |  |  |  |  | 67,907 |  |  |  |  |  | 66,960 |  |
Distribution agreements |  |  |  |  | 4 |  |  |  |  |  | 3,222 |  |  |  |  |  | 3,275 |  |
Trade names, trademarks and other |  |  |  |  | 5 |  |  |  |  |  | 2,740 |  |  |  |  |  | 2,740 |  |
In-process research and development |  |  |  |  |  |  |  |  |  |  | 1,800 |  |  |  |  |  | 1,579 |  |
|  |  |  |  |  |  |  |  |  |  | 100,977 |  |  |  |  |  | 101,196 |  |
Accumulated amortization |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Medicated feed additive product registrations |  |  |  |  |  |  |  |  |  |  | (10,400) |  |  |  |  |  | (10,846) |  |
Amprolium international marketing rights |  |  |  |  |  |  |  |  |  |  | (4,292) |  |  |  |  |  | (4,292) |  |
Customer relationships |  |  |  |  |  |  |  |  |  |  | (6,995) |  |  |  |  |  | (6,303) |  |
Technology |  |  |  |  |  |  |  |  |  |  | (18,776) |  |  |  |  |  | (13,877) |  |
Distribution agreements |  |  |  |  |  |  |  |  |  |  | (3,222) |  |  |  |  |  | (3,275) |  |
Trade names, trademarks and other |  |  |  |  |  |  |  |  |  |  | (2,690) |  |  |  |  |  | (2,508) |  |
|  |  |  |  |  |  |  |  |  |  | (46,375) |  |  |  |  |  | (41,101) |  |
|  |  |  |  |  |  |  |  |  | $ | 54,602 |  |  |  |  | $ | 60,095 |  |
As of June 30 |  |  | 2017 |  |  | 2016 |
Goodwill roll-forward |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  |  |  | $ | 21,121 |  |  |  |  | $ | 12,613 |  |
Purchase price allocation correction |  |  |  |  | 2,861 |  |  |  |  |  | — |  |
MVP acquisition |  |  |  |  | — |  |  |  |  |  | 8,508 |  |
Balance at end of period |  |  |  | $ | 23,982 |  |  |  |  | $ | 21,121 |  |
During the three months ended June 30, 2017, the Company determined goodwill and a liability for contingent consideration on acquisitions, initially recorded in the year ended June 30, 2015, were understated by $2,861. The Company corrected the error during the three months ended June 30, 2017, by adjusting goodwill, the liability and acquisition-related interest accrued subsequent to the acquisition date. We evaluated the effect of the error quantitatively and qualitatively, and concluded the error was not material to the current or any previously issued financial statements.
As of June 30 |  |  | 2017 |  |  | 2016 |
Other assets |  |  |  |  |  |  |  |  |  |  |  |  |
Acquisition-related note receivable |  |  |  | $ | 5,000 |  |  |  |  | $ | 5,000 |  |
Equity method investments |  |  |  |  | 4,235 |  |  |  |  |  | 4,580 |  |
Insurance investments |  |  |  |  | 5,097 |  |  |  |  |  | 4,833 |  |
Deferred financing fees |  |  |  |  | 2,552 |  |  |  |  |  | 1,064 |  |
Deferred income taxes |  |  |  |  | 23,269 |  |  |  |  |  | 28,019 |  |
Deposits |  |  |  |  | 7,074 |  |  |  |  |  | 5,992 |  |
Other |  |  |  |  | 6,570 |  |  |  |  |  | 6,977 |  |
|  |  |  | $ | 53,797 |  |  |  |  | $ | 56,465 |  |
We evaluate our investments in equity method investees for impairment if circumstances indicate that the fair value of the investment may be impaired. The assets underlying a $3,719 equity investment are currently idled; we have concluded the investment is not currently impaired, based on expected future operating cash flows and/or disposal value.
As of June 30 |  |  | 2017 |  |  | 2016 |
Accrued expenses and other current liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Employee related |  |  |  | $ | 26,553 |  |  |  |  | $ | 21,712 |  |
Commissions and rebates |  |  |  |  | 6,443 |  |  |  |  |  | 3,722 |  |
Insurance related |  |  |  |  | 1,515 |  |  |  |  |  | 1,780 |  |
Professional fees |  |  |  |  | 3,823 |  |  |  |  |  | 3,573 |  |
Income and other taxes |  |  |  |  | 3,035 |  |  |  |  |  | 1,910 |  |
Contingent consideration on acquisitions |  |  |  |  | — |  |  |  |  |  | 1,250 |  |
Other |  |  |  |  | 11,283 |  |  |  |  |  | 11,756 |  |
|  |  |  | $ | 52,652 |  |  |  |  | $ | 45,703 |  |
As of June 30 |  |  | 2017 |  |  | 2016 |
Other liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. pension plan |  |  |  | $ | 6,150 |  |  |  |  | $ | 21,371 |  |
International retirement plans |  |  |  |  | 5,257 |  |  |  |  |  | 5,600 |  |
Supplemental retirement benefits, deferred compensation and other |  |  |  |  | 9,783 |  |  |  |  |  | 8,984 |  |
Long term and deferred income taxes |  |  |  |  | 8,946 |  |  |  |  |  | 8,205 |  |
Contingent consideration on acquisitions |  |  |  |  | 11,751 |  |  |  |  |  | 9,172 |  |
Other long term liabilities |  |  |  |  | 7,666 |  |  |  |  |  | 7,981 |  |
|  |  |  | $ | 49,553 |  |  |  |  | $ | 61,313 |  |
Contingent consideration on acquisitions includes $4,107 of accrued compensation related to the service of a key employee.
As of June 30 |  |  | 2017 |  |  | 2016 |
Accumulated other comprehensive income (loss) |  |  |  |  |  |  |  |  |  |  |  |  |
Derivative instruments |  |  |  | $ | 2,686 |  |  |  |  | $ | 2,655 |  |
Foreign currency translation adjustment |  |  |  |  | (43,556) |  |  |  |  |  | (41,904) |  |
Unrecognized net pension gains (losses) |  |  |  |  | (18,059) |  |  |  |  |  | (30,977) |  |
(Provision) benefit for income taxes on derivative instruments |  |  |  |  | (1,553) |  |  |  |  |  | (1,548) |  |
(Provision) benefit for incomes taxes on long-term intercompany investments |  |  |  |  | 8,166 |  |  |  |  |  | 8,166 |  |
(Provision) benefit for income taxes on pension gains (losses) |  |  |  |  | (3,121) |  |  |  |  |  | 1,823 |  |
|  |  |  | $ | (55,437) |  |  |  |  | $ | (61,785)

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