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Balance Sheets-Additional Information

12 Months Ended

Jun. 30, 2021

Balance Sheets Additional Information

5. Balance Sheets—Additional Information

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As of June 30	2021		2020
Accounts receivable, net
Trade accounts receivable	$	150,659	$	130,462
Allowance for doubtful accounts		(3,807)		(3,940)
	$	146,852	$	126,522


As of June 30	2021		2020		2019
Allowance for doubtful accounts
Balance at beginning of period	$	3,940	$	4,442	$	6,257
Provision for bad debts		105		230		(201)
Effect of changes in exchange rates		26		(304)		38
Bad debt write-offs		(264)		(428)		(1,652)
Balance at end of period	$	3,807	$	3,940	$	4,442


As of June 30	2021		2020
Inventories
Raw materials	$	59,775	$	73,837
Work-in-process		12,738		8,881
Finished goods		143,799		113,941
	$	216,312	$	196,659


As of June 30	2021		2020
Property, plant and equipment, net
Land	$	9,994	$	9,796
Buildings and improvements		80,408		69,444
Machinery and equipment		287,355		267,805
		377,757		347,045
Accumulated depreciation		(223,051)		(198,936)
	$	154,706	$	148,109

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 $4,236 and $3,517 at June 30, 2021 and 2020, respectively.

Machinery and equipment includes construction-in-progress of $23,659 and $25,582 at June 30, 2021 and 2020, respectively.


	Weighted-
	Average
	Useful Life
As of June 30	(Years)	2021		2020
Intangibles, net
Cost
Technology	12	$	85,016	$	85,016
Product registrations, marketing and distribution rights	9		17,882		17,795
Customer relationships	12		31,115		31,089
Trade names, trademarks and other	5		3,857		3,857
			137,870		137,757
Accumulated amortization
Technology			(42,083)		(35,859)
Product registrations, marketing and distribution rights			(17,862)		(17,770)
Customer relationships			(12,588)		(10,336)
Trade names, trademarks and other			(3,055)		(2,795)
			(75,588)		(66,760)
		$	62,282	$	70,997


As of June 30	2021		2020
Goodwill
Balance at beginning of period	$	52,679	$	27,348
Osprey acquisition		—		25,331
Balance at end of period	$	52,679	$	52,679


As of June 30	2021		2020
Other assets
ROU operating lease assets	$	32,962	$	22,873
Deferred income taxes		9,861		11,430
Deposits		5,663		5,158
Insurance investments		5,964		5,801
Equity method investments		4,141		4,219
Derivative instruments		2,696		—
U.S. pension plan		1,184		—
Indemnification asset		—		3,000
Debt issuance costs		1,811		1,021
Other		8,467		6,976
	$	72,749	$	60,478

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 $2,740 equity investment are currently idle. We have concluded the investment is not impaired based on expected future operating cash flows and/or disposal value.


As of June 30	2021		2020
Accrued expenses and other current liabilities
Employee related	$	35,375	$	25,825
Current operating lease liabilities		6,618		6,439
Commissions and rebates		6,312		5,782
Professional fees		4,380		5,766
Income and other taxes		6,107		3,821
Derivative instruments		3,486		5,757
Contingent consideration		4,840		—
Restructuring costs		735		2,314
Insurance-related		1,176		1,272
Other		17,350		15,421
	$	86,379	$	72,397

During the year ended June 30, 2019, we recorded costs of $6,281 for business restructuring activities related to productivity and cost saving initiatives in the Animal Health segment, including $3,500 related to the termination of a contract manufacturing agreement and $2,781 for employee separation charges. During the year ended June 30, 2020, we recorded costs of $425 related to employee separation charges. The costs 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 year ended June 30, 2021:


Liability balance at June 30, 2020	$	2,860
Payments		(2,125)
Liability balance at June 30, 2021	$	735


As of June 30	2021		2020
Other liabilities
Long-term operating lease liabilities	$	28,003	$	17,276
Long-term and deferred income taxes		6,646		11,680
Supplemental retirement benefits, deferred compensation and other		8,382		8,067
International retirement plans		5,345		5,499
U.S. pension plan		—		3,563
Derivative instruments		—		7,691
Contingent consideration		—		4,840
Restructuring costs		—		546
Other long-term liabilities		7,594		11,239
	$	55,970	$	70,401


As of June 30	2021		2020
Accumulated other comprehensive income (loss)
Derivative instruments	$	(790)	$	(13,448)
Foreign currency translation adjustment		(100,095)		(103,738)
Unrecognized net pension losses		(19,973)		(22,571)
Benefit for income taxes on derivative instruments		97		3,256
Benefit for incomes taxes on long-term intercompany investments		8,166		8,166
Provision for income taxes on net pension losses		(2,698)		(2,050)
	$	(115,293)	$	(130,385)