Quarterly report pursuant to Section 13 or 15(d)

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

v3.24.1.u1
Supplemental Equity and Accumulated Other Comprehensive Income (Loss) (Tables)
9 Months Ended
Mar. 31, 2024
Notes Tables  
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

Shares

Amount

Capital

Earnings

Income(Loss)

Total

Balances at June 30, 2023

 

157,642

$

1,576

$

721,543

$

1,309,461

$

(66,064)

$

1,966,516

Net earnings

 

 

 

50,993

 

 

50,993

Other comprehensive income (loss)

 

 

 

 

(11,952)

 

(11,952)

Common stock issued for exercise of options

 

633

 

6

 

12,877

 

(15,460)

 

 

(2,577)

Common stock issued for restricted stock awards

 

47

1

 

0

 

(4,768)

 

 

(4,767)

Cash dividends

 

 

 

(12,654)

 

 

(12,654)

Stock-based compensation expense

 

 

 

9,981

 

 

 

9,981

Common stock issued to employee stock purchase plan

 

33

1

 

2,093

 

 

 

2,094

Employee stock purchase plan expense

112

112

Balances at September 30, 2023

 

158,355

$

1,584

$

746,606

$

1,327,572

$

(78,016)

$

1,997,746

Net earnings

 

27,465

 

27,465

Other comprehensive income (loss)

14,355

14,355

Share repurchases

 

(1,397)

(14)

(80,028)

 

(80,042)

Common stock issued for exercise of options

 

157

1

4,914

(1,074)

 

3,841

Common stock issued for restricted stock awards

 

27

0

0

 

0

Cash dividends

 

(12,559)

 

(12,559)

Stock-based compensation expense

 

12,413

 

12,413

Employee stock purchase plan expense

340

340

Balances at December 31, 2023

 

157,142

$

1,571

$

764,273

$

1,261,376

$

(63,661)

$

1,963,559

Net earnings

49,059

49,059

Other comprehensive income (loss)

(11,646)

(11,646)

Common stock issued for exercise of options

372

4

15,761

15,765

Common stock issued for restricted stock awards

4

0

0

(168)

(168)

Cash dividends

(12,579)

(12,579)

Stock-based compensation expense

8,053

8,053

Common stock issued to employee stock purchase plan

36

1

2,251

2,252

Employee stock purchase plan expense

80

80

Balances at March 31, 2024

 

157,554

$

1,576

$

790,418

$

1,297,688

$

(75,307)

$

2,014,375

    

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

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

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

Share repurchases

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

Schedule of changes in Accumulated Other Comprehensive Income (Loss)

Three months ended March 31, 2024 (in thousands):

Unrealized

Gains

Foreign 

(Losses) on

Currency

Derivative

Translation 

    

Instruments

    

Adjustments

    

Total

Balance as of December 31, 2023, net of tax:

$

8,842

$

(72,503)

$

(63,661)

Other comprehensive income (loss), before tax:

Amounts before reclassifications

(1,626)

(12,620)

(14,246)

Amounts reclassified out

2,570

837

3,407

Total other comprehensive income (loss), before tax

944

(11,783)

(10,839)

Tax (expense)/benefit

(609)

(198)

(807)

Total other comprehensive income (loss), net of tax

 

335

(11,981)

(11,646)

Balance as of March 31, 2024, net of tax

$

9,177

$

(84,484)

$

(75,307)

Three months ended March 31, 2023 (in thousands):

Unrealized

Gains

Foreign 

(Losses) on

Currency

Derivative

Translation 

    

Instruments

    

Adjustments

    

Total

Balance as of December 31, 2022, attributable to Bio-Techne, net of tax:

$

12,079

$

(87,204)

$

(75,125)

Other comprehensive income (loss), before tax:

Amounts before reclassifications, attributable to Bio-Techne

(3,105)

3,282

177

Amounts reclassified out

1,826

1,826

Total other comprehensive income (loss), before tax

(1,279)

3,282

2,003

Tax (expense)/benefit

(429)

(429)

Total other comprehensive income (loss), net of tax

 

(1,708)

3,282

1,574

Balance as of March 31, 2023, net of tax

$

10,371

$

(83,922)

$

(73,551)

Nine months ended March 31, 2024 (in thousands):

Unrealized

Gains

Foreign 

(Losses) on

Currency

Derivative

Translation 

    

Instruments

    

Adjustments

    

Total

Balance as of June 30, 2023, net of tax:

$

12,862

$

(78,926)

$

(66,064)

Other comprehensive income (loss), before tax:

Amounts before reclassifications

(9,582)

(7,368)

(16,950)

Amounts reclassified out

7,729

2,372

10,101

Total other comprehensive income (loss), before tax

(1,853)

(4,996)

(6,849)

Tax (expense)/benefit

(1,832)

(562)

(2,394)

Total other comprehensive income (loss), net of tax

 

(3,685)

(5,558)

(9,243)

Balance as of March 31, 2024, net of tax(1)

$

9,177

$

(84,484)

$

(75,307)

Nine months ended March 31, 2023 (in thousands):

Unrealized

Gains

Foreign 

(Losses) on

Currency

Derivative

Translation 

    

Instruments

    

Adjustments

    

Total

Balance as of June 30, 2022, attributable to Bio-Techne, net of tax:

$

8,069

$

(83,269)

$

(75,200)

Other comprehensive income (loss), before tax:

Amounts before reclassifications, attributable to Bio-Techne

431

(805)

(374)

Amounts reclassified out

2,445

152

2,597

Total other comprehensive income (loss), before tax

2,876

(653)

2,223

Tax (expense)/benefit

(574)

(574)

Total other comprehensive income (loss), net of tax

 

2,302

(653)

1,649

Balance as of March 31, 2023, net of tax(1)

$

10,371

$

(83,922)

$

(73,551)

(1) The Company had a net deferred tax liability for its cash flow hedge of $2.9 million and $3.2 million for the nine months ended March 31, 2024 and 2023, respectively,