| Comprehensive Income (Loss) Note [Text Block] |
Note 8. Supplemental Equity and Accumulated Other Comprehensive Income (loss) Information:
Equity
The Company has declared cash dividends per share of $1.28 in each of the full fiscal years ended June 30, 2022, June 30, 2021, and June 30, 2020. During the years ended June 30, 2022, June 30, 2021 and June 30, 2020, the Company repurchased 394,238 shares at an average share price of $408.26, 120,000 shares at an average share price of $359.81, and 279,381 shares at an average share price of $179.37, respectively. The Company’s accounting policy is to record the portion of share repurchases in excess of the par value entirely in retained earnings. During fiscal year 2022, 2021 and 2020, the amounts within the Consolidated Statements of Shareholders’ Equity for the surrender and retirement of stock to exercise options due to net settlement stock options exercises were not material.
Accumulated Other Comprehensive Income (loss)
Changes in accumulated other comprehensive income (loss) attributable to Bio-Techne, net of tax, are summarized as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized |
|
|
|
|
|
|
|
|
Gains |
|
Foreign |
|
|
|
|
|
(Losses) on |
|
Currency |
|
|
|
|
|
Derivative |
|
Translation |
|
|
|
|
|
Instruments |
|
Adjustments |
|
Total |
Balance June 30, 2019 |
|
$ |
(9,537) |
|
$ |
(73,983) |
|
$ |
(83,521) |
Other comprehensive income (loss) before reclassifications |
|
|
(7,179) |
|
|
(9,963) |
|
|
(17,142) |
Reclassification from loss on derivatives to interest expense, net of taxes(1) |
|
|
3,464 |
|
|
— |
|
|
3,464 |
Balance June 30, 2020(3) |
|
$ |
(13,253) |
|
$ |
(83,946) |
|
$ |
(97,199) |
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne(2) |
|
|
100 |
|
|
32,848 |
|
|
32,948 |
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) |
|
|
6,960 |
|
|
— |
|
|
6,960 |
Balance as of June 30, 2021(3) |
|
$ |
(6,193) |
|
$ |
(51,098) |
|
$ |
(57,291) |
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne(2) |
|
|
9,403 |
|
|
(32,171) |
|
|
(22,768) |
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) |
|
|
4,859 |
|
|
|
|
|
4,859 |
Balance as of June 30, 2022(3) |
|
$ |
8,069 |
|
$ |
(83,269) |
|
$ |
(75,200) |
| (1) |
Gains (losses) on the interest swap will be reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $6,352 to interest expense and recorded a related tax benefit of $1,493 during fiscal 2022. The Company reclassified $8,598 to interest expense and $512 to non-operating income relating to variable interest payments that were probable not to occur for the fiscal year ended June 30, 2021. The Company also recorded a related tax benefit of $2,150 during fiscal 2021. The Company reclassified $4,503 to interest expense and a related tax benefit tax of $1,040 during fiscal 2020.
|
| (2) |
Other comprehensive income related to foreign currency translation adjustments in the table above includes the amount attributable to Bio-Techne and excludes the $70 and $103 attributable to the non-controlling interest in Eminence as of June 30, 2022, and June 30, 2021, respectively.
|
| (3) |
The Company had a net deferred tax liability of $2,480 as of June 30, 2022, and net deferred tax benefits of $1,908 and $4,058 as of June 30, 2021, and June 30, 2020, respectively.
|
|