Selected Balance Sheet Data |
Note 3. Selected Balance Sheet Data:
Inventories:
Inventories consist of (in thousands):
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
2022 |
|
2022 |
|
|
|
|
|
|
|
Raw materials |
|
$ |
84,757 |
|
$ |
79,291 |
Finished goods(1) |
|
|
80,548 |
|
|
66,943 |
Inventories, net |
|
$ |
165,305 |
|
$ |
146,234 |
(1) Finished goods inventory of $5,072 and $5,111 included within other long-term assets in the respective December 31, 2022 and June 30, 2022, consolidated balance sheet. The inventory is included in long-term assets as it is forecasted to be sold after the 12 months subsequent to the consolidated balance sheet date.
Property and Equipment:
Property and equipment consist of (in thousands):
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
2022 |
|
2022 |
Land |
|
$ |
9,079 |
|
$ |
8,572 |
Buildings and improvements |
|
|
242,340 |
|
|
229,551 |
Machinery and equipment |
|
|
182,306 |
|
|
174,813 |
Construction in progress |
|
|
13,469 |
|
|
21,729 |
Property and equipment, cost |
|
|
447,194 |
|
|
434,665 |
Accumulated depreciation and amortization |
|
|
(223,343) |
|
|
(211,423) |
Property and equipment, net |
|
$ |
223,851 |
|
$ |
223,242 |
Intangible Assets:
Intangible assets consist of (in thousands):
|
|
|
|
|
|
|
|
|
December 31, |
|
June 30, |
|
|
2022 |
|
2022 |
|
|
|
|
|
|
|
Developed technology |
|
$ |
615,301 |
|
$ |
542,038 |
Trade names |
|
|
146,618 |
|
|
146,457 |
Customer relationships |
|
|
224,212 |
|
|
225,882 |
Patents |
|
|
3,514 |
|
|
3,313 |
Other intangibles |
|
|
6,894 |
|
|
6,306 |
Definite-lived intangible assets |
|
|
996,539 |
|
|
923,996 |
Accumulated amortization |
|
|
(451,592) |
|
|
(415,174) |
Definite-lived intangibles assets, net |
|
|
544,947 |
|
|
508,822 |
In process research and development |
|
|
22,700 |
|
|
22,700 |
Total intangible assets, net |
|
$ |
567,647 |
|
$ |
531,522 |
Changes to the carrying amount of net intangible assets for the period ended December 31, 2022 consist of (in thousands):
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
531,522 |
Acquisitions |
|
|
75,600 |
Other additions |
|
|
713 |
Amortization expense |
|
|
(38,861) |
Currency translation |
|
|
(1,327) |
Ending balance |
|
$ |
567,647 |
The estimated future amortization expense for intangible assets as of December 31, 2022 is as follows (in thousands):
|
|
|
|
Remainder 2023 |
|
$ |
38,462 |
2024 |
|
|
74,764 |
2025 |
|
|
71,341 |
2026 |
|
|
67,478 |
2027 |
|
|
57,326 |
Thereafter |
|
|
235,576 |
Total |
|
$ |
544,947 |
Goodwill:
Changes to the carrying amount of goodwill for the period ended December 31, 2022 consist of (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diagnostics and |
|
|
|
|
Protein Sciences |
|
Genomics |
|
Total |
June 30, 2022 |
|
$ |
376,493 |
|
$ |
445,608 |
|
$ |
822,101 |
Acquisitions |
|
|
51,051 |
|
|
- |
|
|
51,051 |
Currency translation |
|
|
(3,623) |
|
|
60 |
|
|
(3,563) |
December 31, 2022 |
|
$ |
423,921 |
|
$ |
445,668 |
|
$ |
869,589 |
We evaluate the carrying value of goodwill in the fourth quarter of each fiscal year and between annual evaluations if events occur or circumstances change that would indicate a possible impairment. The Company performed a quantitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2022. No indicators of impairment were identified as part of our assessment.
|