Schedule of the Consolidated Changes in Equity |
Consolidated Changes in Equity (amounts in thousands)
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Bio-Techne Shareholders |
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Accumulated |
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Additional |
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Other |
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Common Stock |
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Paid-in |
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Retained |
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Comprehensive |
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Noncontrolling |
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Shares |
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Amount |
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Capital |
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Earnings |
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Income(Loss) |
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Interest |
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Total |
Balances at June 30, 2022 |
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156,644 |
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1,566 |
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652,467 |
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1,122,937 |
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(75,200) |
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(759) |
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1,701,011 |
Net earnings |
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89,555 |
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179 |
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89,734 |
Other comprehensive loss |
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(16,762) |
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(16,762) |
Reclassification of cumulative translation adjustment for Eminence to non-operating income |
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152 |
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(33) |
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119 |
Elimination of noncontrolling equity interest from sale of Eminence |
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613 |
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613 |
Share repurchases |
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(222) |
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(2) |
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(19,560) |
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(19,562) |
Common stock issued for exercise of options |
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425 |
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5 |
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9,418 |
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(11,428) |
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(2,005) |
Common stock issued for restricted stock awards |
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45 |
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0 |
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0 |
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(6,427) |
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(6,427) |
Cash dividends |
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(12,545) |
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(12,545) |
Stock-based compensation expense |
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14,364 |
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14,364 |
Common stock issued to employee stock purchase plan |
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36 |
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0 |
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2,517 |
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2,517 |
Employee stock purchase plan expense |
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97 |
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97 |
Balances at September 30, 2022 |
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156,928 |
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$ |
1,569 |
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$ |
678,863 |
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$ |
1,162,532 |
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$ |
(91,810) |
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$ |
— |
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$ |
1,751,154 |
Net earnings |
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50,005 |
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50,005 |
Other comprehensive loss |
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16,685 |
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16,685 |
Share repurchases |
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— |
Common stock issued for exercise of options |
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155 |
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1 |
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5,074 |
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5,075 |
Common stock issued for restricted stock awards |
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11 |
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1 |
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1 |
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2 |
Cash dividends |
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(12,561) |
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(12,561) |
Stock-based compensation expense |
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16,413 |
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16,413 |
Common stock issued to employee stock purchase plan |
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— |
Employee stock purchase plan expense |
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333 |
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333 |
Balances at December 31, 2022 |
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157,094 |
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$ |
1,571 |
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$ |
700,684 |
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$ |
1,199,976 |
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$ |
(75,125) |
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$ |
— |
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$ |
1,827,106 |
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Bio-Techne Shareholders |
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Accumulated |
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Additional |
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Other |
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Common Stock |
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Paid-in |
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Retained |
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Comprehensive |
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Noncontrolling |
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Shares |
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Amount |
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Capital |
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Earnings |
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Income(Loss) |
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Interest |
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Total |
Balances at June 30, 2021 |
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155,822 |
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$ |
1,558 |
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$ |
533,239 |
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$ |
1,085,465 |
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$ |
(57,291) |
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$ |
8,263 |
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$ |
1,571,234 |
Net earnings |
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69,615 |
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(634) |
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68,981 |
Other comprehensive income (loss) |
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(6,925) |
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(39) |
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(6,964) |
Common stock issued for exercise of options |
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1,178 |
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12 |
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36,336 |
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(13,481) |
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22,867 |
Common stock issued for restricted stock awards |
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79 |
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1 |
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(1) |
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(9,765) |
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(9,765) |
Cash dividends |
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(12,493) |
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(12,493) |
Stock-based compensation expense |
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11,396 |
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11,396 |
Common stock issued to employee stock purchase plan |
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13 |
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0 |
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1,358 |
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1,358 |
Employee stock purchase plan expense |
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|
341 |
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|
341 |
Balances at September 30, 2021 |
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157,092 |
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$ |
1,571 |
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$ |
582,669 |
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$ |
1,119,341 |
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$ |
(64,216) |
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$ |
7,590 |
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$ |
1,646,955 |
Non-controlling interest in Eminence |
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— |
Net earnings |
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80,173 |
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(8,114) |
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72,059 |
Other comprehensive income (loss) |
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4,742 |
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66 |
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4,808 |
Share repurchases |
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(357) |
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(4) |
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(41,290) |
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(41,294) |
Common stock issued for exercise of options |
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538 |
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6 |
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18,599 |
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18,605 |
Common stock issued for restricted stock awards |
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6 |
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0 |
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0 |
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0 |
Cash dividends |
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(12,576) |
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(12,576) |
Stock-based compensation expense |
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13,701 |
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13,701 |
Common stock issued to employee stock purchase plan |
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6 |
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6 |
Employee stock purchase plan expense |
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267 |
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267 |
Balances at December 31, 2021 |
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157,279 |
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$ |
1,573 |
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$ |
615,242 |
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$ |
1,145,648 |
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$ |
(59,474) |
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$ |
(458) |
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$ |
1,702,531 |
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Schedule of each component of other comprehensive income (loss) |
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Unrealized |
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Gains |
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Foreign |
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(Losses) on |
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Currency |
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Derivative |
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Translation |
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Instruments |
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Adjustments |
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Total |
Balance as of June 30, 2022 |
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$ |
8,069 |
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$ |
(83,269) |
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$ |
(75,200) |
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne |
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4,484 |
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(4,087) |
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|
397 |
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) |
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(474) |
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(474) |
Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne |
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— |
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|
152 |
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|
152 |
Balance as of December 31, 2022(2) |
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$ |
12,079 |
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$ |
(87,204) |
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$ |
(75,125) |
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Unrealized |
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Gains |
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Foreign |
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(Losses) on |
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Currency |
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Derivative |
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Translation |
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Instruments |
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Adjustments |
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Total |
Balance as of June 30, 2021 attributable to Bio-Techne |
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$ |
(6,193) |
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$ |
(51,098) |
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$ |
(57,291) |
Other comprehensive income (loss), net of tax before reclassifications, attributable to Bio-Techne |
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|
1,682 |
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(6,750) |
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(5,068) |
Reclassification from loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne(1) |
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|
2,884 |
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— |
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|
2,884 |
Balance as of December 31, 2021 (2) |
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$ |
(1,626) |
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$ |
(57,848) |
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$ |
(59,474) |
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(1) |
(Gains)/losses on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $619 to interest income and recorded a related tax expense of $145 during the six months ended December 31, 2022. The Company reclassified $3,777 to interest expense and a related tax benefit of $892 during the six months ended December 31, 2021. |
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(2) |
The Company had a net deferred tax liability of $3,711 and a net deferred tax benefit of $502 included in the accumulated other comprehensive income loss as of December 31, 2022 and 2021, respectively. |
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