5. Balance Sheets—Additional Information


	December 31,		June 30,
As of	2019		2019
Inventories
Raw materials	$	73,394	$	64,441
Work-in-process		10,489		10,699
Finished goods		109,626		123,182
	$	193,509	$	198,322


	December 31,		June 30,
As of	2019		2019
Goodwill roll-forward
Balance at beginning of period	$	27,348	$	27,348
Osprey acquisition		25,331		—
Balance at end of period	$	52,679	$	27,348

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 $3,548 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.


	December 31,		June 30,
As of	2019		2019
Other assets
ROU operating lease assets	$	23,115	$	—
Deferred income taxes		17,039		16,770
Deposits		6,809		7,024
Insurance investments		5,521		5,431
Equity method investments		4,902		4,196
Indemnification asset		3,000		3,000
Deferred financing fees		1,276		1,531
Other		8,216		7,496
	$	69,878	$	45,448


	December 31,		June 30,
As of	2019		2019
Accrued expenses and other current liabilities
Employee related	$	29,845	$	28,298
Current operating lease liabilities		6,672		—
Commissions and rebates		7,942		8,397
Insurance-related		1,291		1,279
Professional fees		5,222		5,212
Income and other taxes		4,791		6,067
Restructuring costs		2,568		3,590
Other		14,840		15,655
	$	73,171	$	68,498

During the three months ended June 30, 2019, we initiated business restructuring activities related to productivity and cost saving initiatives in the Animal Health segment. We recorded pre-tax charges of $6,281 for these activities, including $3,500 related to the termination of a contract manufacturing agreement and $2,781 for employee separation charges. As of June 30, 2019, $691 had been paid.

During the three months ended September 30, 2019, we recorded $425 related to employee separation charges. The charges are included in selling, general and administrative expenses in our consolidated statements of operations. The following table summarizes the activity of the restructuring liability during the six months ended December 31, 2019:


Liability balance at June 30, 2019	$	5,590
Charges		425
Payments		(1,847)
Liability balance at December 31, 2019	$	4,168

As of December 31, 2019, $2,568 was included in accrued expenses and other current liabilities and $1,600 was included in other liabilities. We expect to record an additional charge for employee separation costs of an estimated $500 and plan to complete the additional separation actions by June 30, 2020.


	December 31,		June 30,
As of	2019		2019
Other liabilities
Long-term operating lease liabilities	$	17,453	$	—
Long term and deferred income taxes		9,520		8,978
Supplemental retirement benefits, deferred compensation and other		7,837		7,605
Acquisition-related consideration		7,678		—
International retirement plans		5,247		5,133
U.S. pension plan		3,146		3,934
Restructuring costs		1,600		2,000
Other long term liabilities		13,917		15,144
	$	66,398	$	42,794


	December 31,		June 30,
As of	2019		2019
Accumulated other comprehensive income (loss)
Derivative instruments	$	(598)	$	(594)
Foreign currency translation adjustment		(75,845)		(71,225)
Unrecognized net pension gains (losses)		(19,792)		(20,050)
(Provision) benefit for income taxes on derivative instruments		149		148
(Provision) benefit for incomes taxes on long-term intercompany investments		8,166		8,166
(Provision) benefit for income taxes on pension gains (losses)		(2,690)		(2,626)
	$	(90,610)	$	(86,181)