Quarterly report pursuant to Section 13 or 15(d)

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)

Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)

9 Months Ended

Mar. 31, 2023

Schedule of the Consolidated Changes in Equity

Consolidated Changes in Equity (amounts in thousands)


	Bio-Techne Shareholders
								Accumulated
				Additional				Other
	Common Stock			Paid-in		Retained		Comprehensive		Noncontrolling
	Shares	Amount		Capital		Earnings		Income(Loss)		Interest		Total
Balances at June 30, 2022	156,644	$	1,566	$	652,467	$	1,122,937	$	(75,200)	$	(759)	$	1,701,011
Net earnings							89,555				179		89,734
Other comprehensive income (loss)									(16,762)				(16,762)
Reclassification of cumulative translation adjustment for Eminence to non-operating income									152		(33)		119
Elimination of noncontrolling equity interest from sale of Eminence											613		613
Share repurchases	(222)		(2)				(19,560)						(19,562)
Common stock issued for exercise of options	425		5		9,418		(11,428)						(2,005)
Common stock issued for restricted stock awards	45		0		0		(6,427)						(6,427)
Cash dividends							(12,545)						(12,545)
Stock-based compensation expense					14,364								14,364
Common stock issued to employee stock purchase plan	36		0		2,517								2,517
Employee stock purchase plan expense					97								97
Balances at September 30, 2022	156,928	$	1,569	$	678,863	$	1,162,532	$	(91,810)	$	—	$	1,751,154
Net earnings							50,005						50,005
Other comprehensive income (loss)									16,685				16,685
Share repurchases													—
Common stock issued for exercise of options	155		1		5,074								5,075
Common stock issued for restricted stock awards	11		1		1								2
Cash dividends							(12,561)						(12,561)
Stock-based compensation expense					16,413								16,413
Common stock issued to employee stock purchase plan													—
Employee stock purchase plan expense					333								333
Balances at December 31, 2022	157,094	$	1,571	$	700,684	$	1,199,976	$	(75,125)	$	—	$	1,827,106
Net earnings							70,218						70,218
Other comprehensive income (loss)									1,574				1,574
Common stock issued for exercise of options	201		2		1,871		(10,733)						(8,860)
Common stock issued for restricted stock awards	6		0		0		(267)						(267)
Cash dividends							(12,582)						(12,582)
Stock-based compensation expense					9,995								9,995
Common stock issued to employee stock purchase plan	38		0		2,389								2,389
Employee stock purchase plan expense					113								113
Balances at March 31, 2023	157,339	$	1,573	$	715,052	$	1,246,612	$	(73,551)	$	—	$	1,889,686


	Bio-Techne Shareholders
								Accumulated
				Additional				Other
	Common Stock			Paid-in		Retained		Comprehensive		Noncontrolling
	Shares	Amount		Capital		Earnings		Income(Loss)		Interest		Total
Balances at June 30, 2021	155,822	$	1,558	$	533,239	$	1,085,465	$	(57,291)	$	8,263	$	1,571,234
Net earnings							69,615				(634)		68,981
Other comprehensive income (loss)									(6,925)		(39)		(6,964)
Common stock issued for exercise of options	1,178		12		36,336		(13,481)						22,867
Common stock issued for restricted stock awards	79		1		(1)		(9,765)						(9,765)
Cash dividends							(12,493)						(12,493)
Stock-based compensation expense					11,396								11,396
Common stock issued to employee stock purchase plan	13		0		1,358								1,358
Employee stock purchase plan expense					341								341
Balances at September 30, 2021	157,092	$	1,571	$	582,669	$	1,119,341	$	(64,216)	$	7,590	$	1,646,955
Non-controlling interest in Eminence													—
Net earnings							80,173				(8,114)		72,059
Other comprehensive income (loss)									4,742		66		4,808
Share repurchases	(357)		(4)				(41,290)						(41,294)
Common stock issued for exercise of options	538		6		18,599								18,605
Common stock issued for restricted stock awards	6		0		0								0
Cash dividends							(12,576)						(12,576)
Stock-based compensation expense					13,701								13,701
Common stock issued to employee stock purchase plan					6								6
Employee stock purchase plan expense					267								267
Balances at December 31, 2021	157,279	$	1,573	$	615,242	$	1,145,648	$	(59,474)	$	(458)	$	1,702,531
Net earnings							60,739				(595)		60,144
Other comprehensive income (loss)									4,329		(1)		4,328
Share repurchases	(580)		(5)				(60,833)						(60,838)
Common stock issued for exercise of options	337		3		10,492								10,495
Common stock issued for restricted stock awards	3		0		0		(159)						(159)
Cash dividends							(12,577)						(12,577)
Stock-based compensation expense					8,043								8,043
Common stock issued to employee stock purchase plan	15		0		1,330								1,330
Employee stock purchase plan expense					25								25
Balances at March 31, 2022	157,054	$	1,571	$	635,132	$	1,132,818	$	(55,145)	$	(1,054)	$	1,713,322

Schedule of each component of other comprehensive income (loss)


	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of June 30, 2022	$	8,069	$	(83,269)	$	(75,200)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne		4,172		(805)		3,367
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne⁽¹⁾		(1,870)				(1,870)
Reclassification of cumulative translation adjustment for Eminence to non-operating income, net of taxes, attributable to Bio-Techne		—		152		152
Balance as of March 31, 2023⁽²⁾	$	10,371	$	(83,922)	$	(73,551)


	Unrealized
	Gains		Foreign
	(Losses) on		Currency
	Derivative		Translation
	Instruments		Adjustments		Total
Balance as of June 30, 2021 attributable to Bio-Techne	$	(6,193)	$	(51,098)	$	(57,291)
Other comprehensive income (loss) before reclassifications, net of taxes, attributable to Bio-Techne		7,757		(9,599)		(1,842)
Reclassification from (gain) loss on derivatives to interest expense, net of taxes, attributable to Bio-Techne⁽¹⁾		3,988		—		3,988
Balance as of March 31, 2022⁽²⁾	$	5,552	$	(60,697)	$	(55,145)

⁽¹⁾

(Gains)/losses on the interest swap are reclassified into interest expense as payments on the derivative agreement are made. The Company reclassified $2,445 to interest income and recorded a related tax expense of $575 during the nine months ended March 31, 2023. The Company reclassified $5,214 to interest expense and a related tax benefit of $1,226 during the nine months ended March 31, 2022.

⁽²⁾

The Company had a net deferred tax liability of $3,186 and $1,706 included in the accumulated other comprehensive income loss as of March 31, 2023 and 2022, respectively.