Quarterly report pursuant to Section 13 or 15(d)

Selected Balance Sheet Data

v3.24.1.u1
Selected Balance Sheet Data
9 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Selected Balance Sheet Data

Note 3. Selected Balance Sheet Data:

Inventories:

Inventories consist of (in thousands):

    

March 31, 

June 30, 

    

2024

    

2023

Raw materials

$

80,524

$

84,551

Finished goods(1)

 

104,376

 

92,474

Inventories, net

$

184,900

$

177,025

(1) Finished goods inventory of $5,404 and $5,387 included within Other long-term assets in the respective March 31, 2024 and June 30, 2023, 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):

    

March 31, 

June 30, 

    

2024

    

2023

Land

$

8,159

$

9,100

Buildings and improvements

 

243,567

 

245,302

Machinery and equipment

209,252

190,019

Construction in progress

 

34,649

 

15,491

Property and equipment, cost

 

495,627

 

459,912

Accumulated depreciation and amortization

 

(251,899)

 

(233,712)

Property and equipment, net

$

243,728

$

226,200

Intangible Assets:

Intangible assets consist of (in thousands):

March 31, 

June 30, 

2024

2023

Developed technology

$

652,788

$

616,311

Trade names

 

151,631

 

146,945

Customer relationships

 

211,354

 

213,878

Patents

 

4,149

 

3,815

Other intangibles

 

11,872

 

11,566

Definite-lived intangible assets

 

1,031,794

 

992,515

Accumulated amortization

 

(528,066)

 

(480,570)

Definite-lived intangibles assets, net

 

503,728

 

511,945

In process research and development

 

22,700

 

22,700

Total intangible assets, net

$

526,428

$

534,645

Changes to the carrying amount of net intangible assets for the period ended March 31, 2024 consist of (in thousands):

Beginning balance

$

534,645

Acquisitions

 

66,400

Other additions

 

619

Held-for-sale intangibles(1)

(14,323)

Amortization expense

 

(60,056)

Currency translation

(857)

Ending balance

$

526,428

(1) Refer to Note 1 for further detail on held-for-sale intangibles.

The estimated future amortization expense for intangible assets as of March 31, 2024 is as follows (in thousands):

Remainder 2024

    

$

19,525

2025

 

75,156

2026

 

71,191

2027

 

61,027

2028

 

57,380

Thereafter

 

219,449

Total

$

503,728

Goodwill:

Changes to the carrying amount of goodwill for the period ended March 31, 2024 consist of (in thousands):

    

    

Diagnostics and

    

Protein Sciences

 Genomics

Total

June 30, 2023

$

427,027

$

445,710

$

872,737

Acquisitions

 

102,546

102,546

Held-for-sale goodwill(1)

(1,400)

(1,400)

Currency translation

 

(1,526)

(1,391)

(2,917)

March 31, 2024

$

424,101

$

546,865

$

970,966

(1)Refer to Note 1 for further detail on goodwill reclassified to current assets held-for-sale.

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 qualitative goodwill impairment assessment for all of its reporting units during the fourth quarter of fiscal 2023. No indicators of impairment were identified as part of our assessment.

Other Assets:

Other assets consist of (in thousands):

    

March 31, 

June 30, 

    

2024

2023

Equity method investment in Wilson Wolf

$

247,984

$

255,857

Derivative instruments

12,028

16,857

Long-term inventory

5,404

5,387

Other

 

6,724

 

7,201

Other assets

$

272,140

$

285,302